Flagstar Bank Commits $1 Million in Grants for BIPOC-Owned Businesses

Flagstar has partnered with BIPOC nonprofits in its key banking markets to vet and administer the grants.
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Flagstar Bank is keeping a promise and commitment to diversity, equity and inclusion in the communities it serves by giving $1 million in grants to help small businesses owned by Black, Indigenous, and people of color whose operating expenses are impacted by COVID-19.

Businesses owned by people of color have been especially hard hit by COVID-19, with nearly half of Black-owned businesses shuttered by the pandemic.

Qualifying small businesses can submit applications now through Nov. 20 for grants of $5,000.

Flagstar has partnered with BIPOC nonprofits in its key banking markets to vet and administer the grants.

Qualifications include diverse ownership, revenues of no more than $1 million, and a location within Flagstar Bank’s footprint of Michigan; Fort Wayne and South Bend, Indiana; and the High Desert of San Bernardino County, California.

Additional qualifications, grant uses and other information are available in the application.

Read rest of story here.

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