According to a 2022 data report from the U.S. Census, there were nearly 195,000 Black businesses in America. It’s no secret that Black business owners face hardships related to capital and sustainability, unlike any other demographic. One organization is working to change that: Black Leaders Detroit.
The organization is membership-based, with 5,000-6,000 members who donate $1 a week, or $52 a year, that goes into a large fund in which loans are distributed to Black businesses. Since its inception, BLD has distributed more than $4.5 million in loans. One of its fundraising initiatives is an annual cycling journey, typically throughout the state of Michigan.