(WXYZ) — Comcast announced this week that the RISE Investment Fund will provide $1 million in grants to Black, Indigenous and People of Color-owned small businesses in Detroit.
The City of Detroit was one of five cities selected to get the $1 million in grants.
Beginning March 1 and running through March 14, eligible businesses in Detroit, Atlanta, Chicago, Houston and Philadelphia can apply for a $10,000 grant at www.ComcastRISE.com.
In all, there will be 100 grants given out in Detroit in May.
Comcast launched the RISE initiative in October 2020 to focus on Black-owned small businesses, and then extended it to BIPOC-owned, who were hit hardest by the COVID-19 pandemic.
It's focused on small businesses which have been open three or more years and have between 1-25 employees, located in Detroit, Hamtramck or Highland Park.
“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,” Gov. Gretchen Whitmer said in a release. “Through innovative programs like Comcast RISE, we are creating equitable opportunities for Michigan’s small businesses to not only survive this ongoing pandemic, but also be in a position to thrive long after this crisis is over.
“Detroit’s economic comeback depends greatly on the success of its small businesses - and they need support now more than ever,” Detroit Mayor Mike Duggan added. “I am deeply grateful to Comcast for its commitment to support our city's entrepreneurs by helping them stabilize and rebound through the Comcast RISE $1 million investment opportunity.”