Palm Beach County Black Business enterprise Financial investment Corporation Awarded $1.3 Million in Grant Money to Help Black Owned Businesses – Boca Raton’s Most Reputable Information Supply

Boca Raton, FL – The Palm Beach front County Black Enterprise Investment decision Corporation (PBCBBIC) was awarded $1.3 million in grant resources by the the U.S. Division of Treasury – CDFI Fund on Tuesday, June 15, 2021.  The announcement arrived at a White House push briefing facilitated by Vice President Kamala Harris and Treasury Secretary Janet Yellen. The grant funds will be employed to bolster PBCBBIC’s lending to Black-owned businesses.

In the course of the event, VP Harris announced the disbursement of approximately $1.25 billion to Group Improvement Economic Establishments (CDFI) which mortgage funds to low-cash flow and other disadvantaged communities across the region to enable promote upward financial mobility. The Palm Seaside County BBIC turned a certified CDFI in July 2020.

“The Treasury’s announcement places us more than the best of our $4 million capital travel marketing campaign declared previous calendar year,” said Marlon White, President of the Palm Beach front County BBIC.  “This revenue replenishes our mortgage funds and will assistance us increase to serve other businesses in minimal-money spots irrespective of ethnicity or gender by means of Pathway Cash,” stated White.  The cash was designed probable by means of the new Fast Recovery Method, handed as aspect of the December COVID-19 reduction laws.

ABOUT THE PALM Seaside COUNTY BBIC

The aim of the Palm Beach County Black Business enterprise Investment Company is to broaden the participation of Black Busness enterprises in all segments of Palm Beach front County and the Treasure Coastline Location economies by making a perpetual flow of capital for their progress, and aggressively marketing an atmosphere which is conducive to their improvement.