Comcast Offers Grants To Minority-Owned Detroit Businesses

Comcast is offering $1 million in grants to minority-owned businesses in five different cities, and Detroit is one of them. It's part of the Comcast RISE Investment Fund that was launched to help small businesses survive the pandemic.

A total of 100 grants will be awarded to minority-owned business owners in Detroit. Those applying will be eligible for a grant up to $10,000. Business owners must have up to 25 employees, have been open for at least three years and be stationed in Detroit, Hamtramck or Highland Park. Applications will be available March 1 through March 14.

Enter your number to get our free mobile app

Governor Whitmer says the program will help Detroit businesses survive the pandemic and thrive once it is over.

"This pandemic has had a disproportionate impact on our communities of color and has been particularly damaging for minority-owned businesses that make our communities vibrant places to visit and call home."

New research from JPMorgan Chase Institute shows that there has been a decline in local spending. Cities with businesses that were hit the hardest during the pandemic included Detroit, Chicago, Atlanta, Houston and Philadelphia.

Several black-owned businesses in Detroit have been struggling to stay afloat because of the COVID-19 pandemic. Some businesses even fear permanent closure due to economic uncertainty. Around 30% of small businesses in Metro Detroit were temporarily or permanently closed from mid July to the beginning of January.

In an effort to help, the Michigan Economic Development Corporation opened a $10 million grant program for small businesses in December. The MEDC was expecting around 667 applicants but received over 22,000.