Beyonce’s BeyGOOD foundation and NAACP launch The Black-Owned Small Business Impact Fund 

Beyonce and her philanthropic foundation BeyGOOD have been stepping up to the plate to aid the Black community as COVID-19 rages on in the United States.  

And on Thursday, the official BeyGOOD Instagram announced that they have partnered with the NAACP to launch The Black-Owned Small Business Impact Fund.

The fund – providing grants in the amount of $10,000 – ‘will be offered to Black-owned small businesses in select cities to help sustain businesses during this time,’ according to the NAACP website.    

‘The NAACP is proud to partner with BeyGOOD to help strengthen small businesses and to ensure economic empowerment for Black businesses,’ reads the website’s Impact Fund description. 

The idea to establish the Impact Fund stemmed from months of anguish felt by the Black community due to the pandemic and prevalent social injustice. 

‘The challenges of Black business owners navigating in the climate cannot be understated, as the effects of uprisings across the nation have led to many businesses being placed in dire straits due to damages and other small business needs,’ they explained.     

In order to be eligible for the grant, applicants must either be a ‘Black-owned small business owner’ or be able to ‘provide property damage or replacement estimates.’

Grants are also only eligible to businesses located in Houston, Atlanta, New York, Los Angeles, and/or Minneapolis. 

The BeyGood application process opened on July 9 and will remain open until July 18.

Once the deadline is reached, applications will enter the review process, which will occur from July 20 to July 29, and then ‘selected applicants will be notified on Beyonce.com’ on July 30.

Beyonce established BeyGOOD in 2013 as a way to ‘inspire people to be kind, to be charitable and to #BeyGood to themselves, to others, to the community, and to our world.’

Back in May, BeyGOOD – along with the held of Beyonce’s mother Tina Knowles – launched COVID-19 mobile testing relief in Houston, after learning that Black people in Houston were being disproportionately affected by the virus.

‘The campaign has been created to start a movement to encourage black communities to prioritize health in the wake of the coronavirus pandemic,’ read the BeyGOOD Instagram caption on the matter.