Black Economic Alliance Entrepreneurs Fund (BEA Entrepreneurs Fund)

Q: When is the deadline for Black Economic Alliance Entrepreneurs Fund (BEA Entrepreneurs Fund)?

This grant has a rolling deadline or the deadline has not been announced.

Q: Who is eligible for Black Economic Alliance Entrepreneurs Fund (BEA Entrepreneurs Fund)?

Eligible applicants: Alumni from historically Black colleges and universities (HBCUs); Students.

Black Economic Alliance Foundation

Foundation Grants for Black-Owned Businesses Grants for Startups Grants for Minority-Owned Businesses

Funding Amount

$50,000,000

Deadline

Rolling / Open

Grant Type

foundation

Can we apply?

Check your organization against each line. Taken from the listing; confirm with the funder's guidelines.

Eligible organizations

Alumni from historically Black colleges and universities (HBCUs)
Students

Other requirements

Black entrepreneurs (founders and business owners)
Emerging business founders
Participants in programs that focus on Black business development
All interested and eligible Black entrepreneurs

Overview

Black Economic Alliance Entrepreneurs Fund

Status: Active, launched May 2021

Amount: $50 million evergreen investment fund

Geographic Scope: Nationwide (all interested and eligible Black entrepreneurs across the United States)

Focus Areas:

Seed, start-up, and early-stage capital for Black-founded and Black-led businesses

Closing the racial wealth gap through business ownership

Supporting Black entrepreneurs in all industries

Key Features:

Evergreen fund that recycles 100% of returns to support ongoing operations and additional investments

Anchored by Wells Fargo with a $20 million commitment over five years

Investments made in the form of equity via convertible debt or straight loans

A portion earmarked to invest in Center for Black Entrepreneurship (CBE) participants

Eligibility:

Black entrepreneurs (founders and business owners)

Emerging business founders

Alumni from historically Black colleges and universities (HBCUs)

Students

Participants in programs that focus on Black business development

What They Fund:

Seed capital investments

Start-up financing

Early-stage business capital

Equity investments and loans to Black-owned businesses

Background:

Launched through collaboration between Black Economic Alliance Foundation and Wells Fargo

Addresses documented disparities in venture capital access: Black founders received only ~1% of venture capital financing before 2020; even after 2020 influx, only ~3% of $147.6 billion venture capital went to Black-founded companies

Federal Reserve 2020 data: only 26% of Black business owners received full financing they sought from banks vs. 54% of white business owners

Reflects focus on business ownership as one of the best paths to multi-generational wealth creation

Organization: Black Economic Alliance Foundation (501c3 nonprofit affiliate of Black Economic Alliance)

Contact/More Info: https://foundation.blackeconomicalliance.org/bea-entrepreneurs-fund/

How to Apply

Application Process

Status: Competitive application process expected to begin later in 2021 (from May 2021 announcement)

Submission Format:

Competitive application process

Once the BEA Fund begins investing, it will accept applications from all interested and eligible Black entrepreneurs across industries nationwide

Eligible Applicants:

Emerging business founders

Alumni from historically Black colleges and universities (HBCUs)

Students

Participants in programs that focus on Black business development

All interested and eligible Black entrepreneurs

Investment Structure:

Investments made via equity in the form of convertible debt

Equity stake in exchange for seed capital investment

Straight loans to Black start-up businesses also available

Note: Specific application materials and detailed submission requirements not provided in available documentation. Applicants should contact the BEA Foundation directly for current application procedures and detailed requirements.

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What Black Economic Alliance Foundation actually gave

Source: IRS Form 990 filing, 2024

Grants in 2024: 5
Total given: $1.93M
Median grant: $200K
Range: $50K–$1.25M

By dollars: Georgia 65%, District of Columbia 35%. Top recipient cities: Washington, DC; Atlanta, GA.
0% of grants with a stated purpose were for general or operating support.

Example grants

Spelman College · Atlanta, GA

To support the center for black entrepreneurship

$1.25M
Vote to Live Action Fund · Washington, DC

To fund section 501(c)(3) - permissible activities

$247K
Black Economic Alliance (C4) · Washington, DC

Nonpartisan activity and polling related to economic opportunities for black americans

$200K