What is the Black Businesses Matter Matching Fund?
The Black Businesses Matter Matching Fund (#BBMMF) utilizes a matching fund to multiply urgent support to certified Black-owned and operated restaurants and local businesses in need, including to their employees most impacted by the COVID-19 pandemic, economic and social crises. Using the power of sponsorships and large contributions, organizations and donors can multiply the impact of thousands of individual donors to these struggling Black-owned small businesses and workers.
How does Black Businesses Matter Matching Fund Recipient Selection Process Work?
The BBMMF campaign has an established multi-step process to nominate the Black-owned businesses that will receive these grants.
The BBMMF recipient businesses are subject to following selection process:
Black-owned businesses are nominated by one of the Black Businesses Matters 12 regional nominating leads, which include Marcus Samuelsson and other renowned African American chefs and tastemakers that are involved in their respective communities.
The Black Businesses Matter Matching Fund team at Project Bento then reviews all nominated businesses in order to further narrow down the finalized list of recipients.
Once selected, the Project Bento BBMMF team conducts a meeting over the phone with each business to start the process of creating the recipient’s public page on the Black Businesses Matter Campaign Hub.
The recipient businesses must certify that they are a legitimate Black-owned business (defined as more than 50% of business ownership) by submitting 3 forms of ID, including a government issued Photo ID. Project Bento can ask for further documentation, including articles of incorporation.
BBMMF requires certification from the businesses and verification before dispersing the funds to the recipient businesses using the Sage Plus Platform.
The Black Businesses Matter Matching Fund is also partnering with local BIPOC small business advocate non-profit organizations who can help recommend, vet and advise in the selection process. Black-owned businesses can also directly apply for the #BBMMF campaign on the site, which then goes through the Black Businesses Matters 12 regional nominating leads.
Every month during the campaign, all recipients have to create at least one public post and provide a report detailing the applied use of funds for their business.
Any entities in which the Black Businesses Matching Fund team or Project Bento team have a business interest or a related family owned business will not be eligible to apply.
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