EatOkra in partnership with Dine Diaspora, invites applications for the EatOkra Black Women in Food Grants in the USA in 2022.
The EatOkra Black Women in Food Grants provide capital for Black women to accelerate growth for their brick-and-mortar restaurants. Aligned with EatOkra’s values, the opportunity will enable these businesses to “spread their wings and embrace their visions for tomorrow.”
Black women entrepreneurs face barriers to success. This is due to
- limited access to funding as they receive less than 1% of venture capital,
- are three times more likely to be denied loans, and
- receive lower loan amounts even when approved.
Out of 17% of new businesses started by Black women, only 3% eventually become mature businesses.
While these businesses, especially restaurants, were hit hard by the pandemic, Black women-owned businesses are up by almost 30% on pre-pandemic levels. With more accessible capital, Black-women owned restaurants can reach maturity and positively impact their communities.
Worth of Award
The grant is worth $10,000.
To be eligible, candidates are expected to
Self-identify as a Black woman
Operate a brick-and-mortar restaurant location
Currently own at least 50 percent of a restaurant business
Be a restaurant located in the United States
Own three restaurants or less, and employ fewer than 50 employees per location
Be open for at least six months, but no longer than 5 years
They are also expected to prepare a Profit and loss statement for 2021
How to Apply
Get started on your application by clicking here.
Deadline: July 17, 2022 by 11:59 pm ET.