Detroit City Wire

The Gilbert Family Foundation has announced a $4 million investment to support Black-led businesses and community developers in Detroit. The funding, revealed during National Black Business Month, will be divided between two organizations: Black Leaders Detroit (BLD) and the Michigan Black Business Alliance (MBBA). BLD will receive $2.1 million, while MBBA will get $2 million.

According to Darnell Adams, Vice President of Detroit Community Initiatives at the foundation, small businesses are key to Detroit’s future. “Detroit’s continued growth hinges on a strong small business community throughout the city,” Adams said. “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 investment is part of a larger commitment by the Gilbert Family Foundation, which previously pledged $500 million over 10 years in partnership with Rocket Community Fund. Since 2021, more than $232 million has already been distributed as part of this initiative.

A portion of the new funds will go toward expanding The Building Fund operated by BLD. This fund provides no-interest loans for residential projects in Detroit and aims to help developers of African descent access financial resources that can be difficult to obtain through traditional channels. With an additional $2.1 million from the foundation, BLD plans to increase its support for these developers.

Sharea Ayers, Chief Operating Officer of Black Leaders Detroit, described the impact: “The Building Fund is a game-changer for Detroit,” Ayers said. “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.”

BLD also plans to host a business symposium in October aimed at bringing together entrepreneurs for workshops and networking opportunities.

The Michigan Black Business Alliance will use its share of funding to expand programs such as its Global Growth Accelerator—which supports second-stage businesses seeking further expansion—and Capital Connect, which links companies with sources of capital. MBBA will also continue offering one-on-one coaching through its BizWiz program.

Charity Dean, President and CEO of MBBA, commented on the grant: “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,” Dean said. “This investment will be the spark that helps business owners—especially our second-stage entrepreneurs—turn their dreams into sustainable, thriving realities.”

Both BLD and MBBA previously received $1 million each from the foundation in 2023 as part of ongoing efforts to revitalize Detroit neighborhoods.

Adams emphasized that these efforts are part of a long-term strategy: “We’re looking at the long term,” he said. “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.”

For more information about these organizations or their initiatives visit https://blackleadersdetroit.org or https://michiganblackbusinessalliance.org.