When Black-owned businesses struggled to stay afloat during the wake of the pandemic, Altice USA stepped up.
It became a partner of the Coalition to Back Black Business in the fall of 2020, committing $1.5 million to fund the multi-year initiative that aims to provide $14 million in grant funding and a number of other resources to Black-owned SMBs. Altice USA spread the word about the grants soon after becoming a partner and has continued promoting it across its social media channels as well as its Optimum and Suddenlink blogs.
The team chose to use moments like Black History Month, Women’s History Month and National Black Business Month to highlight the stories of business owners that were making a difference in their communities and were able to take their businesses to the next level after receiving support and mentorship through the grant program.
In the Coalition’s first year, its partners distributed 600 grants to Black-owned small businesses across 33 states, giving them the ability to continue paying employees, purchase PPE or pivot their business models to fit the changing habits of today’s consumer. And in the two years since Altice USA joined the cause, it has personally given out $5,000 grants to 183 SMBs across its Suddenlink and Optimum footprints, with 93 of those coming within the last 12 months.
The company understands that funding is only one part of the solution, offering all of its grantees the opportunity to participate in a mentorship program where they can receive advice and additional support from Altice USA leadership and other industry professionals. The grantees from the 2021 cohort also had the chance to apply for additional $25,000 enhancement grants with Altice USA supporting four of the 20 grants awarded in June.