The city announced a plan to transfer $20 million to Liberty Bank, one of the largest Black-owned banks in America, to help minority-owned businesses get access to capital.
MONTGOMERY, Ala. - COVID-19 has made doing business in the country harder, especially for minority-owned businesses.
“One of the biggest challenges for Black-owned businesses and women-owned businesses in particular is access to capital,” Mayor Steven Reed said. Black business owners like Quebe Merritt said they could benefit from the initiative. Merritt owns Plant Bae and has faced a wave of issues ever since she first opened at the height of the pandemic.
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