• Celebrity
    • OTE – Meagan Good
    • Daniel Kaluuya Digital Cover
    • Digital Cover Method Man
    • Digital Cover Zazie
    • Celebrity News
    • ‘Yes, Girl!’ Podcast
    • Entertainment
    • Black Celeb Couples
    • Celebrity Moms
    • Red Carpet
    • If Not For My Girls
  • Fashion
    • ESSENCE Fashion House 2022
    • Fashion News
    • Street Style
    • Accessories
    • Fashion Week
  • Beauty
    • Best In Black Beauty 2023
    • ESSENCE Hair Awards 2022
    • AVEENO Skin Health Startup Accelerator
    • Beauty News
    • Skin
    • Makeup
    • Nails
    • Girls United: Beautiful Possibilities
  • Hair
    • Hair News
    • Natural
    • Relaxed
    • Transitioning
    • Weave
    • 4C
  • Love
    • Love & Sex News
    • The Solve Podcast
    • Weddings
    • Parenting
    • Relationships
  • Lifestyle
    • Black History Month
    • ESSENCE Gift Guide 2022
    • ESSENCE + smartwater Live Well Challenge
    • Build Your Legacy 2022
    • Dream & Plan with Confidence Prudential
    • AMEX Platinum Travel
    • Homecoming Season 2022
    • Lifestyle News
    • Health & Wellness
    • ESSENCE Eats
    • Money & Career
    • Entrepreneurship
    • Travel
    • Food & Drink
    • Black Travel Guide
  • News
    • Paint The Polls Black
    • Sponsors Recognition Page 2022
    • Latest News
    • Raise Your Voice
    • Culture
    • Politics
  • Video
  • Festival
    • 2023 ESSENCE Festival Of Culture
    • 2023 ESSENCE Film Festival
    • 2022 Fest Videos
  • Events
    • 2023 Wellness House
    • 2023 Black Women In Hollywood
    • 2023 HOLLYWOOD HOUSE
    • 2023 ESSENCE Film Festival
    • 2022 Girls United Summit
    • 2022 ESSENCE Fashion House
    • 2022 Homecoming Season
    • She Got Now
    • Dear Black Men
    • I Am Speaking
    • Power Tools
  • Studios
  • Girls United

WHERE BLACK CULTURE, COMMUNITY AND CONSCIOUSNESS MEET

Sign up for ESSENCE Newsletters the keep the Black women at the forefront of conversation.

Your email is required.
Your email is in invalid format.
Confirm email is required.
Email did not match.
Select the newsletters you'd like to receive:
Please select at least one option.
By clicking Subscribe Now, you agree to our Terms of Use and Privacy Policy.
Skip to content
SUBSCRIBE
  • MAGAZINE
  • NEWSLETTER
  • Celebrity
    • OTE – Meagan Good
    • Daniel Kaluuya Digital Cover
    • Digital Cover Method Man
    • Digital Cover Zazie
    • Celebrity News
    • ‘Yes, Girl!’ Podcast
    • Entertainment
      • Paint The Polls Black
    • Black Celeb Couples
    • Celebrity Moms
    • Red Carpet
    • If Not For My Girls
  • Fashion
    • ESSENCE Fashion House 2022
    • Fashion News
    • Street Style
    • Accessories
    • Fashion Week
  • Beauty
    • Best In Black Beauty 2023
    • ESSENCE Hair Awards 2022
    • AVEENO Skin Health Startup Accelerator
    • Beauty News
    • Skin
    • Makeup
    • Nails
    • Girls United: Beautiful Possibilities
  • Hair
    • Hair News
    • Natural
    • Relaxed
    • Transitioning
    • Weave
    • 4C
  • Love
    • Love & Sex News
    • The Solve Podcast
    • Weddings
    • Parenting
    • Relationships
  • Lifestyle
    • Black History Month
    • ESSENCE Gift Guide 2022
    • ESSENCE + smartwater Live Well Challenge
    • Build Your Legacy 2022
    • Dream & Plan with Confidence Prudential
    • AMEX Platinum Travel
    • Homecoming Season 2022
    • Lifestyle News
    • Health & Wellness
    • ESSENCE Eats
    • Money & Career
    • Entrepreneurship
    • Travel
    • Food & Drink
    • Black Travel Guide
  • News
    • Paint The Polls Black
    • Sponsors Recognition Page 2022
    • Latest News
    • Raise Your Voice
    • Culture
    • Politics
  • Video
  • Festival
    • 2023 ESSENCE Festival Of Culture
    • 2023 ESSENCE Film Festival
    • 2022 Fest Videos
  • Events
    • 2023 Wellness House
    • 2023 Black Women In Hollywood
    • 2023 HOLLYWOOD HOUSE
    • 2023 ESSENCE Film Festival
    • 2022 Girls United Summit
    • 2022 ESSENCE Fashion House
    • 2022 Homecoming Season
    • She Got Now
    • Dear Black Men
    • I Am Speaking
    • Power Tools
  • Studios
  • Girls United
Home · News

LISC And Uber Eats Launch ‘Black Restaurant Fund’ To Fuel BIPOC Culinary Industry

The new investment program that will provide growth capital to Black restaurant owners.
LISC And Uber Eats Launch ‘Black Restaurant Fund’ To Fuel BIPOC Culinary Industry
By Jasmine Browley · Updated February 24, 2023

Black founders with a passion for food are in for some great news, just in time for Black History Month.

According to a recent announcement, the Local Initiatives Support Corporation (LISC) and Uber Eats have joined forces to launch a new investment program that will provide growth capital to Black restaurant owners.

“Black-owned restaurants have historically been locked out of economic opportunity, which limits their ability to grow and thrive,” said Julia Paige, Uber’s director of social impact in a news release. “Uber and LISC created the Black Restaurant Fund to help close the resource gap by connecting Black food entrepreneurs to flexible capital to fuel growth and expansion while seeding wealth creation in Black communities.”

The Black Restaurant Fund will uniquely provide investments that don’t need to be paid back.

“We take a different approach to underwriting than many investors do because we can look beyond traditional metrics to consider the real-world potential of these enterprises,” said George Ashton, managing director of LISC Strategic Investments. “It means we can build collaborations and investment products that support their plans for sustainable growth—like this new program with Uber—while at the same time helping owners build a financial track record that can help open doors to conventional investors in the future.”

The program comes nearly three years after the height of the pandemic, a time when Black businesses absorbed the biggest financial shock compared to other groups. Data shows about 58 percent of Black-owned businesses were at risk of financial distress before the pandemic, compared with about 27 percent of white-owned businesses.

Ashton continued: “This program is making an investment in a healthy, equitable future for Black restaurant owners and their employees as well as the communities where they operate,” said, which is overseeing the initiative.

More information on the Black Restaurant Fund can be found at  https://www.liscstrategicinvestments.org/uber-black-restaurant-fund.

COMPANY INFORMATION
  • Our Company
  • Customer Service
  • Essence Ventures
  • Change Your Address
  • Contact Us
  • Job Opportunities
  • Internships
  • Media Kit
  • tag
SUBSCRIBE
  • Newsletters
  • Give a Gift of ESSENCE
  • Magazine Tablet Edition
FOLLOW US
MORE ON ESSENCE
  • Home
  • Love
  • Celebrity
  • Beauty
  • Hair
  • Fashion
  • ESSENCE festival

ESSENCE.com is part of ESSENCE Communications, Inc.

Essence may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.

©2023 ESSENCE Communications Inc. All Rights Reserved. | Privacy Policy | Terms of Use | Essence.com Advertising Terms

Get The ESSENCE Newsletter and
Special Offers delivered to your inbox

By clicking Sign Up, you agree to our Terms of Use and Privacy Policy.

Get The ESSENCE Magazine
by subscribing below
subscribe now