The Gilbert Family Foundation is making a bold statement in Detroit’s commitment to economic equity with an investment of $4 million aimed at strengthening Black-led businesses and community developers. Announced during National Black Business Month, this new funding reflects the foundation’s ongoing commitment to addressing disparities and empowering entrepreneurs within the city, especially those in historically underserved communities. The $4 million will be split between two vital organizations in Detroit’s Black business ecosystem: Black Leaders Detroit (BLD) and the Michigan Black Business Alliance (MBBA).
BLD will receive $2.1 million while MBBA will benefit from $2 million, both to expand and enhance their efforts to foster a more inclusive and sustainable business environment. For the Gilbert Family Foundation, these investments are a natural extension of its larger mission to create economic opportunities for all Detroiters, particularly those who have been historically excluded from the economic mainstream.
Darnell Adams, Vice President of Detroit Community Initiatives at the foundation, made it clear that small businesses will play a central role in the city’s future growth. “Detroit’s continued growth hinges on a strong small business community throughout the city,” Adams remarked. “These investments will ensure Detroit developers, entrepreneurs, and small businesses have the resources and opportunities needed to shape the future of our city and state.”
This new infusion of funds follows a broader commitment of $500 million over 10 years, which the Gilbert Family Foundation first announced in partnership with Rocket Community Fund in 2021. The foundation has already deployed over $232 million, with the aim of transforming Detroit into a city of opportunity for its residents.
A significant portion of the $4 million will go towards expanding The Building Fund—an initiative by BLD that provides no-interest loans to community developers working on residential projects across Detroit. With an additional $2.1 million, BLD plans to scale the fund, enabling more developers of African descent to access financial resources and complete much-needed projects in the city. For developers who often face systemic barriers to funding, this program is crucial in leveling the playing field and offering an equitable chance at growth.
“The Building Fund is a game-changer for Detroit,” said Sharea Ayers, Chief Operating Officer of Black Leaders Detroit. “By providing no-interest loans to developers of African descent, we’re not just financing projects—we’re building generational wealth, strengthening neighborhoods, and ensuring that Detroit’s growth includes people who have always called it home.”
The expanded fund will empower developers to revitalize homes, construct new housing, and improve commercial spaces, all with the aim of creating lasting value for the city’s residents. By focusing on Black developers, BLD aims to build community-driven solutions that ensure Detroit’s growth benefits those who have lived through the city’s most challenging times. In addition to its lending programs, BLD will host a business symposium in October that will bring together entrepreneurs for workshops, mentorship, and networking opportunities. This event aims to equip business owners with the tools they need to succeed in an ever-evolving market.
At the same time, the Michigan Black Business Alliance (MBBA) will use its $2 million to support multiple initiatives aimed at strengthening and scaling Black businesses across the state. MBBA will focus on enhancing its Global Growth Accelerator, a program designed to help at least 40 second-stage businesses grow into sustainable, scalable enterprises. These are businesses that have already surpassed the startup phase but need access to the tools, capital, and mentorship required to expand their operations further. In addition, the Capital Connect initiative will continue to assist businesses at any stage in their journey by connecting them to the right sources of capital, while the BizWiz program will offer one-on-one coaching and technical assistance to entrepreneurs seeking to refine their strategies.
“This generous grant from the Gilbert Family Foundation is more than just funding; it’s a belief in the ingenuity and resilience of our entrepreneurs,” said Charity Dean, President and CEO of MBBA. “This investment will be the spark that helps business owners—especially our second-stage entrepreneurs—turn their dreams into sustainable, thriving realities.”
With a focus on second-stage businesses, MBBA aims to create a bridge for these companies to scale beyond their current constraints. The Global Growth Accelerator will provide the kind of hands-on support that businesses need to refine their operations and find pathways to expansion, while Capital Connect is designed to eliminate the often-significant barriers to accessing funding for businesses of color. The overall goal is to create a dynamic ecosystem where Black-owned businesses not only survive but thrive, becoming key contributors to Detroit’s broader economic revival.
These new investments reflect a continued, long-term commitment to Detroit. Both BLD and MBBA have already benefitted from previous support in the form of $1 million in grants from the Gilbert Family Foundation in 2023, a portion of the larger effort to revitalize and strengthen Detroit’s neighborhoods. The Gilbert Family Foundation, working in collaboration with local organizations and entrepreneurs, is putting its money toward creating tangible change that will last for generations. These initiatives will help ensure that as Detroit grows, it grows in a way that is equitable, inclusive, and beneficial to all its residents, especially those who have been historically underserved.
“We’re looking at the long term,” said Adams. “These investments represent a piece of the bigger puzzle. Together with our partners, we’re working to create a stronger, more resilient Detroit that works for everyone.”
As Detroit moves forward, the foundation’s investments in Black businesses and developers will lay the groundwork for a more equitable city, where entrepreneurs have the tools and resources to not only succeed but to shape the city in their own image. The road ahead is long, but with continued support from organizations like the Gilbert Family Foundation, Black Leaders Detroit, and the Michigan Black Business Alliance, Detroit is positioned for a future where everyone has the opportunity to build wealth and create lasting impact.
For more information, visit blackleadersdetroit.org or michiganblackbusinessalliance.org.
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