Buy Black Chambana has launched the Black Owned Business Fund, aimed to facilitate black-owned businesses “that have been affected by the COVID-19 pandemic and systemic racism,” according to BuyBlackChambana.com founder and CEO Mariah Madison.
Donations to the fund will help support black-owned businesses in three primary areas: Meeting the proper financial and legal requirements (forming a LCC, partnerships, etc.); creating an online and community presence through marketing efforts that ensure businesses are on the proper platforms (creating websites, social media accounts, billboard signage, etc); offering businesses free tax preparers at the end of the year.
“You may notice that these are the basic requirements for businesses to apply for a grant and/or a loan,” Madison said. “We will optimize Black-owned businesses so they can truly access the resources that are current while creating as many opportunities as we can together.”
Donations will be streamlined through Venmo (@BuyBlackChambana) and Cash App (@BuyBlackChambana) where they will then be allocated appropriately to Black owned businesses in the community. Each Friday the funds raised that week will be allocated to one black-owned business chosen at random. Funds will be distributed until each business has been chosen, after which the cycle will begin again.
“It’s only a matter of time before we burn out from marching the streets — that’s not sustainable,” Madison said. “We need to transition our minds to the next phase: organizing and supporting local grassroots programs that counter the effects of systemic racism. This includes helping local programs to eliminate food deserts in Black communities, support Black mentorship programs, fund youth scholarships, supporting local Black-owned businesses, and more.