Tabor 100 created the Black Business Equity Fund (BBEF) to help Black-owned businesses raise capital and grow their organizations during a time of national turmoil as the country dealt with the COVID-19 pandemic, while facing hard truths about race in America.
The BBEF was a way for Tabor 100 to continue establishing itself as a leader and advocate for Black-owned businesses in the Puget Sound region.
“In response to numerous Black business failures, we launched our crowning achievement this year: the Black Business Equity Fund (BBEF),” said Ollie Garrett, President and CEO of Tabor 100. “Along with creating the BBEF, we restructured the Board and welcomed a new group of dedicated, smart people to serve. Our continued growth has allowed us to open a Seattle office in 2022!”
And, now that funds from the BBEF have been distributed through 23 grants that have disbursed more than $462,000to local Black businesses, the success stories keep coming.
Take the Simply Soulful Café, which is in the middle of a relocation to the revitalized Central District corner of 23rd and Jackson. The BBEF helped Simply Soulful owners Barbara Collins and her daughter, Lillian, purchase new equipment, while alleviating some of the financial constraints created by the move.
It is another example of how Tabor 100 is uplifting the local BIPOC business community. Additionally, Tabor 100 is bringing in major corporations like Amazon to help accomplish their goals through the BBEF.
“Amazon is dedicated to helping build sustainable equity and growth for Black entrepreneurs,” said Pearl Leung, Amazon’s Senior Manager, External Affairs. “By supporting BBEF, we hope the quantity of Black-owned businesses in the Puget Sound region grows beyond pre-pandemic numbers.”
For those interested in helping Tabor 100 as the organization continues to uplift Black-owned businesses, please visit: Tabor100.org.