Providing Relief for Black Businesses during COVID-19

Ford Motor Company and the Ford Motor Company Fund have partnered with the National Urban League to launch the Emergency Capital Access Program (ECAP).  ECAP is a programmatic initiative that seeks to provide immediate access to capital for Black business owners – an important but often overlooked pillar of the economy – who are currently at a competitive disadvantage for accessing government or foundation relief available due to COVID-19.
PROGRAM OVERVIEW
Ford Motor Company and the Ford Motor Company Fund have partnered with the National Urban League to launch the Emergency Capital Access Program (ECAP).  ECAP is a programmatic initiative that seeks to provide immediate access to capital for Black business owners – an important but often overlooked pillar of the economy – who are currently at a competitive disadvantage for accessing government or foundation relief available due to COVID-19.  In addition to providing capital relief, Black small business owners will also gain access to post-award counseling to support the survival and growth of the Black business community.  This pilot program will launch in Los Angeles, Detroit, New Orleans, Atlanta, Chicago and New York via the local Urban League affiliates.

On behalf of Ford Motor Company and the Ford Motor Company Fund, the Urban League of Louisiana will administer ECAP for Black-owned businesses in the Greater New Orleans area. This program will award micro-grants in the amount of $1,500 to eligible Black-owned businesses that have been significantly impacted by the COVID19 pandemic. Grant recipients will be required to participate in post-award counseling services.

FAST FACTS:

WHO: Black small business owners in the Greater New Orleans area

WHAT: Micro-grants in the amount of $1,500 to qualifying Black-owned businesses that have been heavily impacted by the COVID19 pandemic

BONUS: Post-award counseling services

Eligibility Requirements
Eligible firms must be:
  • A current or previous client of the Urban League of Louisiana as of July 1, 2020
  • At least 51% owned and operated by an African American/Black individual residing in and operating a business in the Greater New Orleans area
  • Located in Census tracts with greater than 25% Black residency
  • Providers of direct to consumer products and/or services
  • Able to prove a revenue of less than $150,000 in 2019
  • Able to demonstrate business losses of at least 25% as a result of COVID-19

Grant awards may be used for rent, utilities, inventory, accounts payable, fixed costs, employee wages and benefits. These are grant awards and repayment by the recipient is not required. Applications for micro-grants will be reviewed and awarded on a rolling basis until all allocated funds are dispersed. Applicants should gather all required documentation prior to starting the application form.

NOTE:  Funding priority will be given to applicants that are graduates of either the Urban League of Louisiana’s Scale Up! Louisiana Program or the Women in Business Challenge Accelerator programs.
Required Documentation
All applicants must provide the following documents to be considered for an award.
  • 2019 federal tax return (Personal returns will be accepted for independent contractors and self-employed individuals.)
  • 2019 income statement showing monthly sales – Free Template if Needed
  • 2020 year-to-date income statement showing monthly sales (January – June)
  • IRS Form W-9 (October 2018 Version)
  • Other supporting documents as requested
HOW TO APPLY
To apply to the Ford Emergency Capital Access Program, please email all required documentation in the above list to fordecap@urbanleaguela.org with the subject line: Ford ECAP Application and Documents – [Insert Business Owner’s First and Last Name].

For questions about the program or the application process, please email fordecap@urbanleaguela.org.