Barclays US Consumer Bank announced an investment of $1 million to the United Way of Delaware in partnership with the State of Delaware for the Stand By Me Minority Small Business program.
Stand by Me will provide free financial coaching and business support services aimed at increasing market share and revenue for up to 50 Delaware minority-owned small businesses in underserved communities.
The Stand By Me Minority Small Business program is a part of Barclays’ Community Reinvestment Act (CRA) plan. It will also include financial grants for eligible participants, ranging from $3,000 – $9,000, whose businesses have met program milestones within the year-long engagement. Eligible Delaware minority small business owners can learn more about the program and apply starting March 15, 2021, until May 15, 2021, until 50 program applications have been accepted by visiting standbymede.org.
“Minority-owned small businesses, especially Black and Latinx business owners, face many financial challenges, which have been exposed and accelerated as a result of the COVID-19 pandemic,” said Adam Ahmad, Community Reinvestment Act Officer, Barclays US Consumer Bank.“The Stand By Me Minority, Small Business program is built on a proven model that offers minority small business owners not just a written plan and free training but an experienced coach who will help the business owner put that plan into action. Through Barclays’ CRA plan, we strive to change the landscape and close the wealth gap amongst our minority population by giving back to the communities where we live, work and serve.”
During the year-long program, participants will collaborate with a financial coach to identify and resolve business challenges and provide equitable access to educational resources and financial support. Working with the financial coach, participants will then agree to measurable goals and timelines for improving their operations and strengthening financial performance. Among other skills, participants will sharpen their business management practices, learn how to grow market share, and improve their opportunities to access capital. Funding may also be available to participants to address unforeseen business needs during their participation in the program.
The Stand By Me Minority Small Business program leverages 10 years of experience helping to move thousands of Delawareans from financial instability to financial empowerment. With more than 80% of Delaware minority-owned small businesses having less than 20 employees, the proven Stand By Me coaching model from UWDE has been modified to include specific business management, market development, and capital access tools for small businesses.
“On top of the normal challenges of starting or growing a small business, minority business owners face many barriers that make achieving success all the more difficult, said Michelle A. Taylor, president, and CEO, UWDE. “This new Stand By Me Minority Small Business program is built on 10 years of success and is designed specifically to help minority business owners overcome these challenges. But our goal is bigger than helping individual business owners achieve success; we want to build a cohort of successful minority small business owners across the community and encourage these business owners to inspire others in their communities to do the same.”
Barclays US Consumer Bank is a co-branded credit card issuer and financial services, partner. Barclays has operations in northern Delaware. For more information, visit www.BarclaysUS.com.
Highmark awards $800,000 in grants
Highmark Blue Cross Blue Shield Delaware is pleased to share its first-quarter BluePrints for the Community grant awardees, which will collectively receive more than $880,000 in funding. BluePrints for the Community-contributed more than $4.1 million in 2020 and has committed over $19 million to Delaware nonprofits since its inception in 2007.
“Highmark Blue Cross Blue Shield Delaware’s Board of Directors and the BluePrints for the Community Advisory Council are excited to partner with these organizations on a variety of programs and projects that will help make Delaware a healthier place to live,” said Nick Moriello, president of Highmark Blue Cross Blue Shield Delaware. “We continue to be impressed by our nonprofit organizations’ ability to respond to the needs of our community in meaningful ways.”
Recipients
- American Heart Association was awarded a grant for its Delaware Hypertension Control Network project to help individuals manage their condition and overall health.
- Limen House, Inc. was awarded a grant to support its Mental Health Counseling Financial Assistance program, which will ensure more than 70 people are able to receive mental health support.
- The University of Delaware Partnership for Healthy Communities was awarded a grant to help create access to underserved communities’ care through its HEALTH (Health Engagement Access Learning Teaching Humanity) for All program.
- Saint Francis was awarded a grant to expand its Mobile Community Healthcare program to serve communities with transportation and access barriers.
- Healthy Foods for Healthy Kids was awarded a grant to continue its Education Cultivation School Vegetable Garden program, teaching students about healthy food and lifestyle choices.
- Latin American Community Center was awarded a grant to help construct a playground in the Hilltop Neighborhood.
- Delaware College Scholars was awarded a grant to support the Medical/Healthcare track of their career development programming.
- Donate Delaware was awarded a grant to help provide and distribute personal protective equipment and supplies to nonprofit and community-based organizations.
- Trauma Matters Delaware was awarded a grant for its Trauma-informed Training Pilot program at Beebe Healthcare.
Formerly open for applications twice a year, the donor-advised fund, focused on projects and programs throughout Delaware that improve health outcomes, now accepts applications on a quarterly basis at www.delcf.org/grants. All Delaware 501c3 organizations are eligible to submit proposals that address social determinants of health, increase access to health care for the uninsured/underserved, reduce health disparities in minority communities, support early childhood health, or recruit/train health care professionals.
