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Liberty Bank is a proud partner of the $5 Million BuildNOLA Mobilization Fund

NEW ORLEANS DATA NEWS WEEKLY — Liberty Bank and Trust Company announced its partnership with the City of New Orleans, Newcorp, Inc., the Kresge Foundation J. P. Morgan/Chase, and Living Cities Catalyst Impact Fund to create a BuildNOLA Mobilization Fund. The fund will provide up to $10 million in capital for Disadvantaged Business Enterprises (DBE’s) to access work in the City of New Orleans’ Green Infrastructure rebuilding program

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By Data News Staff Edited Report

Liberty Bank Announces Partnership that will Provide Capital to DBE’s

Liberty Bank and Trust Company announced its partnership with the City of New Orleans, Newcorp, Inc., the Kresge Foundation J. P. Morgan/Chase, and Living Cities Catalyst Impact Fund to create a BuildNOLA Mobilization Fund. The fund will provide up to $10 million in capital for Disadvantaged Business Enterprises (DBE’s) to access work in the City of New Orleans’ Green Infrastructure rebuilding program over the next 6 years. Liberty also participates in a similar program in Detroit, Michigan.

With over $250 million anticipated infrastructure work and the City’s 35% DBE goal, $87 million in construction opportunities will be designated for small and minority businesses as New Orleans continues to rebuild. The City has designated Newcorp to manage the BuildNOLA Mobilization Fund.

Newcorp is a local Community Development Fund Institution (CDFI), which provides technical and financial assistance to disadvantaged businesses. Newcorp will receive applications and will help DBE’s access loans.

Liberty Bank Committed to BuildNOLA Fund

Liberty is a major investor in the BuildNOLA Fund with a $4 million commitment towards the goal of raising $10 million for the fund. The other entities are providing capital, technical assistance and networking.

“Access to capital continues to be the most important factor limiting the establishment, expansion and growth opportunities for firms”, says Alden J. McDonald, President and CEO of Liberty Bank and Trust Co. “These businesses are an engine of employment and economic development and we are proud to be able to provide a means to sustain them within our communities.”

Drextel Amy, President of Liberty’s Michigan Region, where Liberty is a major investor in an Entrepreneurs of Color Fund, says “Liberty Bank is keenly aware of the need to provide capital to small business enterprises. There are many small business enterprises that have the expertise to perform high quality work that don’t have consistent access to capital. Providing capital to these entrepreneurs effectively allows them to gain access to public and private sector contracting opportunities.”

The BuildNOLA Mobilization Fund is another effort by the City of New Orleans to make sure the 35% DBE goal becomes a reality.

This article originally appeared in the New Orleans Data News Weekly

Bay Area

West Oakland Black Woman Owned Food Collective, “The Black Culinary Collective (BCC)”

“We are doing our part to change the narrative of excellence being categorized as an exception for black makers.

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   A group of Black women who own food businesses are rising from the devastation of the pandemic by sharing a commercial kitchen in West Oakland.

     The Black Culinary Collective (BCC) is led by Chef Reign Free, owner of Red Door Catering, which opened in 2006. 

    Red Door Catering has a 5,000-square-foot kitchen space.  During the pandemic Free’s catering business fell and her business was damaged during the protests.  

     Free also knew other Black chefs who didn’t have the money to rent commercial kitchen space during the pandemic.  

      And so, she applied to and received $50,000 from the Oakland Black Business Fund, which, according to the San Francisco Chronicle, is “an organization that aims to address Black entrepreneurs’ historical lack of access to capital, to help members join the collective rent-free.”

     The collective currently has four members (Teas With Meaning, Baby Bean Pie, Pound Business, and Final Sauce) and is looking for six more.  The members will share the kitchen, sell their goods to the public on-site, and collaborate on projects.  Members will also receive consultations, mentoring and advice on their food businesses.

     BCC hopes to open in August and will be located at 2925 Adeline St. Free continues to raise funds to help collective members have up to a year in the collective rent-free. 

     “It’s important for the people who work in the food and beverage industry to not only know how to cook, but to understand the history and the cultural significance of those that came before us,” Free told the Oakland Post. “We are doing our part to change the narrative of excellence being categorized as an exception for black makers. 

     “The companies that are a part of the collective have established the discipline that allows them to see their vision with clarity and purpose; having a beautiful space that supports learning, collaboration, and service allows us to continue to scale in ways that will positively affect the next generation. The more we share our gifts and talents within our community, the more our communities will thrive.”

 

     For more information, go to BlackCulinaryCollective.com

The San Francisco Chronicle, Mercury News, and Oaklandside.org were sources for this report.

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Good Day Cafe

Good Day Cafe is a black-owned business located in Vallejo,Ca

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 Good Day Cafe is a Black-owned cafe  located at 304 Georgia St. in Vallejo. Their hours are from 7:00 a.m.- 3:00 p.m., Tuesday through Sunday. Good Day Cafe serves Southern-style breakfast and lunch meals. They offer online orders, dine in, and delivery. Visit their website to learn more information https://gooddaycafevallejo.com/ and follow their instagram @gooddaycafevallejo

 

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Rush bowls

The perfect blend of all-natural fruits and veggies topped with delightfully crunchy, organic granola, a drizzle of honey, and your choice of fresh fruits and toppers.

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Rush bowls are the perfect blend of all-natural fruits and veggies topped with delightfully crunchy, organic granola, a drizzle of honey, and your choice of fresh fruits and toppers. Packed with nutrients and fully customizable, Rush bowls offer healthy, delicious alternatives to standard fast-casual fare. Rush bowls is open Mondays-Fridays from 10am-6pm at 350 17th Street, Oakland,CA 94619. Available for indoor dining, and delivery through GRUBHUBhttps://rushbowls.com/oakland

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