The program is a joint $10 million initiative by The PepsiCo Foundation and civil-rights organization National Urban League that will provide 500 Black restaurant owners in 12 cities over the next five years with capital, technical assistance, and mentorship services. As the United States begins to reopen, this program aims to provide critical support to Black restaurateurs who were disproportionately impacted by the pandemic.
“As the pandemic exposed existing disparities many minority business owners face, we saw a fundamental threat that could erase the decades of progress Black-owned restaurants have made.
This investment will help Black restaurateurs not only recover from the pandemic but set them on a path to long-term economic resilience,” said C.D. Glin, Vice President, Global Head of Philanthropy at The PepsiCo Foundation.
“We are inspired by the progress we are making through our collaboration with the National Urban League to address a fundamental gap and create opportunities for Black-business owners to build generational wealth and continue to strengthen their communities.”