Funds will support capital and credit access for historically disadvantaged small businesses throughout Metro Atlanta via the ACE Recovery and Resilience Program
The Rockefeller Foundation has expanded its support of small businesses in metro Atlanta by awarding a $5 million grant to ACE | Access to Capital for Entrepreneurs Inc. in support of its Recovery and Resilience Program which provides diverse and flexible capital solutions and educational resources to BIPOC (Black, Indigenous, and people of color), women, and low-income owned businesses in the Atlanta Metropolitan Area. This grant serves as the largest philanthropic foundation gift in ACE’s history.
This catalytic capital that will allow ACE to leverage funds for lending capital and credit enhancements including loan guarantees and concessionary rates. Combined, these elements will provide an estimated capital infusion of over $30 million in loans to Atlanta’s underserved entrepreneurs while retaining or creating at least 1,500 jobs.
“I had the pleasure of meeting ACE’s leadership and beneficiaries during a recent trip to Atlanta, and I was inspired by their commitment to growing small, diverse businesses and expanding opportunity throughout the city,” said Elizabeth Yee, Executive Vice President of Programs at The Rockefeller Foundation. “We are proud to continue supporting ACE’s efforts to empower BIPOC entrepreneurs with much-needed capital and technical assistance.”
Read full press release HERE
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