The Sacramento City Council last week approved $500,000 for the California Black Chamber of Commerce to implement a business-assistance and support-services program for minority-owned micro and small businesses located in the city.
The program will provide technical assistance and financial education and resources to eligible small businesses from historically underserved and underrepresented areas of the small business community. Entrepreneurial training will also be provided to eligible youth from low-to-moderate income households.
“I’m grateful that our Council supports additional resources to meet these ever-growing needs” said Mikel Davila from the City’s Office of Innovation and Economic Development. “The program will connect our local minority-owned businesses with access to capital and business mentors to help them recover from the impacts of the pandemic and prepare for future growth opportunities.”
Funding for the program comes from the federal American Rescue Plan (ARP) funding for small businesses, which was approved as part of Mayor Darrell Steinberg’s ARP spending framework.
This investment expands on the City’s existing suite of small business services, such as Economic Gardening 2.0 and the myriad of ARP-funded outreach and business assistance services provided by the Sacramento Inclusive Economic Development Collaborative.
“We are excited to work with the City of Sacramento and community organizations to create a coalition and partnership that will bring real change to marginalized communities and small businesses in those communities,” said Jay King, president and CEO of the California Black Chamber of Commerce. “This is what real partnership is all about!”
To deliver these services, the California Black Chamber of Commerce will partner with local workforce training, community outreach and business support organizations Green Tech, Neighborhood Innovation and the Black Small Business Association. The program is expected to start mid-August.