City of Albuquerque Awarded “Corporation of the Year” by the Black Chamber
ALBUQUERQUE – On Friday, October 18, the Black Chamber of Commerce of New Mexico hosted its 2nd Annual Black Chamber Gala. During the gala, the City of Albuquerque was awarded the Corporation of the Year award for supporting Black businesses and entrepreneurs. The City was recognized for helping facilitate the transfer of funds from the Black Investment Fund to the Black Chamber of Commerce, which ultimately created the “Albuquerque Black Business Fund”.
“Albuquerque has a vibrant Black community, and Black owned businesses provide essential opportunities for families to attain financial stability and generational wealth while contributing the whole economy,” said Mayor Tim Keller. “We believe in supporting small business owners and entrepreneurs in our city so everyone can thrive.”
“I have seen first-hand how the City pours into our underserved Black businesses, first as a community member giving input on this fund in 2020, representing the Mayor when the first grants were given out in 2022 and now as a Councilor helping to ensure the remaining money finally reaches our community,” said Councilor Nichole Rogers. “It has been an amazing collaboration and I am so happy to see the City recognized in this way..”
The Albuquerque Black Business Fund was initially started with Council allocation in June of 2020 to One Albuquerque Fund. The fund is now being managed by the Black Chamber of Commerce of New Mexico. The fund is set up in three different tiers to reflect three different stages of business, and the requirements to receive grant support vary depending on what tier your business falls under. To learn more about the different tiers and their requirements, visit bccofnm.org.
“The City entrusted us to manage the Albuquerque Black Business Fund, so I put together a group of 5 business leaders that created this 3-tier grant program to make sure the money is going back to the community in the best way,” said Black Chamber of Commerce’s President/CEO, Karla Causey. “The fund is significant to the community because when you have a small business, a couple of thousand dollars could mean the difference between the life and death of your business.”
“Starting a business is difficult for anyone, but Black entrepreneurs have been historically disenfranchised,” said OEI Director, Sonya Lara. “Black small business owners often face obstacles which make it difficult for their businesses to become successful, that is why it is important to create programs that support equity.”
Applications for the Albuquerque Black Business Fund can be submitted online throughout the months of January, April, July, and October, and will be reviewed in February, May, August, and November. Applicants will be notified if they have been awarded the grant, or the reasons why there were denied, in March, June, September and December. Applications are open now through the end of October. Learn more and apply through the Black Chamber of Commerce’s website.