What is the Capital One Business Grant?
The Capital One Business Grant will target funding toward Black-owned businesses. The contribution will be timely as various Black businesses experienced financial droughts during the peak of the pandemic. Capital One will partner with the Association for Enterprise Opportunity to create the Capital One Business grant program. Business owners will receive $10,000 grants through the program and access to free resources to propel their business through Capital One’s Business Hub.
Capital One donated its facility at the Wilmington Riverfront, valued at $4.7 million, to Delaware State University, Delaware’s only HBCU. The 35,000-square-foot facility will allow the university to expand its offerings in the heart of the state’s metropolitan core, after nearly a decade of operating through its satellite campus on Kirkwood Highway.
In partnership with the Association for Enterprise Opportunity (AEO), this program will award $10,000 to selected Black owned businesses. In addition, all business owners can access free resources to help move their business forward through Capital One’s Business Hub which features insights and actionable advice from real business owners.
Applications will be reviewed on a first come first serve basis, and grants will be awarded throughout the program period.
To be eligible, applicants must:
- Be age 18 and over
- Own a business currently in operation
The applicant’s business must:
- Be majority (at least 51%) Black-owned
- Not exceed $1,000,000 in annual revenue
- Be based in the United States
Capital One plans to host a special ribbon cutting and building tour to mark the return of the university to Wilmington and celebrate the broader partnership that will include expanded recruitment opportunities, specialty programs and first generation support.