Black Business Month is a time to celebrate, visit, and invest in Black-owned small businesses. At SMBX, we celebrate these business owners every day, working hard to help them grow and succeed by connecting them with people who want to invest in them.
We’d like to feature a few of the Black-owned small businesses that have grown through the investors who supported them on SMBX. As well as, feature the DC Rebuild Bond Program which represents a collaboration between the DC Office of the Deputy Mayor for Planning and Economic Development and SMBX. The real focus is on Wards 5, 7, 8 and areas that have been discriminated against in the financial system and how SMBX can connect small businesses directly with everyday investors.
B-Boy’s Family BBQ’s New Food Truck is Here!
B-Boy's Family BBQ is a Black-owned family business that all started with some weekend get-togethers over the grill. Before long, pitmaster Brian Brown, his wife and two daughters knew they had something special cooking. To share that cooking with their community, B-Boy’s raised over $85,000 through SMBX for a food truck and working capital. Last week, the truck arrived!
Kenyatta Computer Services is Training Black IT Experts of the Future
Kenyatta Computer Services is a Black- and veteran-owned national IT firm headquartered in Denver with offices throughout the country. The company prides itself on supporting local organizations that facilitate STEM and job programs for Black youth and adults. They provide an accessible resource for people of high-impact communities to gain exposure to the IT industry without barriers to entry. Kenyatta raised $100,000 on the SMBX marketplace to expand and hire more staff.
Kai’s Baking Studio Turns Family Love of Baking into Thriving Business
Kai’s Baking Studio started off as a father (Rod) and daughter (Makai) duo sharing quality time in the kitchen baking. Then Kai was diagnosed with food allergies, Kai’s father began researching dairy-free, egg-free, and gluten-free recipes and creating his own for Kai. Soon after, Kai’s Baking Studio was born! To meet increased demand for their baked goods, Kai’s raised over $41,000 for new equipment, working capital, and marketing costs.
D.C. Bond Program Benefits Small Black-Owned Businesses
The Washington Informer (June 2022)
Through the DC Rebuild Bond Program, Innovative Recordings, LLC and at least seven other local businesses have issued small business bonds, for as low as $10 a piece, to customers and community members in the District and around the country. Those who purchase these bonds immediately receive monthly payments on the principal and interest.
The DC Rebuild Bond Programs represents a collaboration between the DC Office of the Deputy Mayor for Planning and Economic Development and SMBX, a first-of-its-kind global marketplace that connects small businesses directly with everyday investors.
For months, Innovative Recordings LLC, based in Southeast, has been well on its way to raise $500,000 through the DC Rebuild Bond Program. Innovative Recordings LLC founder Charles “Shorty Corleone” Garris said the endeavor, which wraps up in a couple of weeks, has already expanded the visibility of the Capital Kidds musical group and his snack brand, Crank Chips.
“There are investors around the country participating in the bond program,” Garris said. “It’s exciting that our story is compelling enough that it reached the core of some investors who want to support us. This is a great opportunity. They will support some of the things we want to do and what we’ve done for years. It’s also a wonderful opportunity for workforce development.” (Read more)
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