Introducing the Black Restaurant Accelerator Program
The National Urban League and PepsiCo joined forces to create the Black Restaurant Accelerator, which will boost approximately 500 Black-owned businesses over the next five years. The PepsiCo Foundation is providing a $10 million grant to fund the program, which will provide current and aspiring Black restaurateurs with access to capital, training, mentorship and other support services that are necessary for business success.
Black entrepreneurs have long faced systemic barriers to growth, including access to loans and capital, biased community perceptions and gentrification challenges. These hurdles have been compounded by the COVID-19 pandemic, as demonstrated by the 41% of Black-owned businesses that have shuttered since February 2020 compared to just 17% of white-owned businesses.*
Through National Urban League Entrepreneurship Centers in 12 cities across the U.S., the Black Restaurant Accelerator will not only help address these barriers, but also take a long-term view by pairing participants with entrepreneurship advisors and PepsiCo employee volunteers to build an actionable plan for growth.
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