Amplify POC, Inc. is launching our "Equity in Ownership Fund" in support of our mission to eliminate the racial wealth gap on cape cod and beyond. Data tells us that ownership is the key to eradicating the racial wealth gap, whether that is a business, a home, land, or other assets. Initially the objective of this fund is to provide micro grants to local POC-Owned businesses of up to $5000 to help the business owner improve, enhance, and elevate their current operations.
Once the fund has obtained more funding the goal is to open the application up to aspiring home and land owners. As the funds grows so will the program and opportunities to assist more people of color to establish their goals of ownership.
This fund has been graciously seeded by ARPA funding awarded to us by Senator Julian Cyr and State Representative Kip Diggs in the amount of $55,000. An additional $55,000 of the ARPA award will be available once Amplify is able to raise a match of $55,000. At that time more applications will be reviewed and more funds will be dispersed to applicants. If more applications are received after all funds have been dispersed, applicants will be placed on a waitlist by date of application received until more funding becomes available. Applications will be reviewed by a committee of POC community members and approvals will be based on need and access.
Initial round of Pilot applications are due by: April 20th, 2023.
Awards will be announced May 26th, 2023
Applications available in Spanish and Portuguese upon request.
Amplify POC's Vision and Mission:
We envision an end to the racial wealth gap on Cape Cod and beyond, where communities of color have economic power, increased ownership, and wealth building opportunities.
Amplify POC is committed to eliminating the racial wealth gap (disparity in assets and income across race and ethnicity) by removing barriers created by systemic racism. We promote racial equity by providing accessible resources and education that enhance visibility and increase sustainable ownership opportunities for communities of color.