CareSource Foundation & MAC Announce Recipients of $180,000 RESTORE ATL Fund, Supporting Black-Owned, Small- and Medium-Sized Businesses
Friday, July 31st, 2020
The Metro Atlanta Chamber (MAC) announced 24 recipients of the RESTORE ATL Fund, in partnership with the CareSource Foundation. The Fund, totaling $180,000, will support Black-owned, small and medium-sized businesses impacted by the COVID-19 pandemic.
The recipient companies represent a number of industry sectors adversely impacted during the pandemic, including accommodation and food services; arts, entertainment and recreation; and healthcare and social assistance. Approximately 70% of recipient companies are woman-owned, three companies are veteran-owned and more than 300 were employed by recipient companies as of March 2020.
“The strong interest in the Fund, with applications submitted from 17 counties in the region, clearly indicates the need for initiatives such as RESTORE. We should not forget that every one of the hundreds of applications received represents a company that has been adversely impacted by the pandemic,” said Metro Atlanta Chamber President and CEO Katie Kirkpatrick. “Thank you to the CareSource Foundation for their partnership, and congratulations to our grant recipients. While the grant will certainly have a great impact for the recipients, there is much left to do. I'm certain that this community will continue to come together around those in need.”
In June, the CareSource Foundation generously donated $180,000 to jump-start the RESTORE ATL Fund. The Dayton-based health plan pivoted their charitable resources to support both frontline health care providers, to meet the variable community needs around social determinants of health and, most recently, to support small businesses in their local markets.
The RESTORE ATL Fund will provide immediate gap assistance to the recipient companies and grants can be used for operating expenses including rent, utilities, payroll and other business-related needs. Grant recipients were selected by a diverse volunteer review panel representing members of metro Atlanta’s business community across industries. The review panel included leaders from EY, The Gathering Spot, The Kendeda Fund and Atlanta Wealth Building Initiative, Collab Capital and other organizations. Grant applications were assessed based on need and potential impact.
The Fund builds on the work of MAC’s RESTORE task force, a diverse group of business leaders which aims to provide a blueprint for how metro Atlanta and Georgia might accelerate economic recovery. The group took on this important task while prioritizing the health of Georgia’s families and neighbors and considering the state’s most vulnerable populations.
Metro Atlanta is home to top HBCUs in the nation, with a strong Black middle class. MAC honors this history while acknowledging the inequity and immobility challenges faced by the region. With input from diverse leaders, MAC has recently worked to pass Hate Crimes Legislation in Georgia and in 2019 formed Project Plato, a multicultural, multigenerational voice to envision Atlanta’s next phase and drive inclusive innovation. MAC is committed to holding up and preserving Atlanta’s legacy and creating a more equitable region for all.
The full list of recipients can be found in the attached press release, with yellow highlights denoting women-owned businesses and ‘*’ denoting veteran-owned businesses.
For more information on the RESTORE ATL Fund please visit: https://www.metroatlantachamber.com/restore-atl-fund.