Michael Jordan and the Jordan Brand continue to make power moves within the Black community.
PR Newswire reports that the Oakland Black Business Fund (OBBF) has been selected as the inaugural recipient of Michael Jordan and the Jordan Brand’s Community Grant.
The initiative is part of the organization’s Black Community Commitment Grant Program and will be used to fund OBBF’s mission to build peer-to-peer relationships within Black business owners, Black technical assistance providers and tech companies. OBBF aims to offer a sustainable growth model for underserved and under-funded businesses coming out of the Bay Area.
“OBBF has had the opportunity to partner with some of the country’s leading companies and financial institutions to support Black entrepreneurs in the Bay Area while addressing systemic biases that perpetuate the funding gap for Black businesses,” said OBBF Co-Founder Trevor Parham in an official statement. “We are grateful to the Jordan Brand for their support as we continue to cultivate a resilient and sustainable ecosystem of local Black businesses based on a proven model that improves neighborhoods, creates jobs, builds wealth, and provides strong and meaningful financial returns to our communities.”
Currently, OBBF is the only Black-led fund that generates business grants and large investments, which address the lack of capital when it comes to Black-owned businesses.
“We received hundreds of applications for Community Grants, and every single one of them was a reminder of the unique impact and powerful personal connections local community efforts can make happen. Making a decision on the first cycle of 18 organizations selected was certainly not easy,” said Craig Williams, President, Jordan Brand. “We are thrilled to not only stand behind them, but based on the volume of applications received, we look forward to continuing to offer this program each year in support of local grassroots efforts that create real, meaningful change for people and communities.”
For more on how to apply for capital and/or technical support through OBBF, click here.
