$15M in grants offered to diverse, small businesses in Oakland
OAKLAND, Calif. - Kaiser Permanente is partnering with organizations to provide grants to support small and diverse businesses in Oakland.
The healthcare giant is investing $15 million to assist small businesses that may be struggling from challenges such as crime, low-cost capital, and a slow post-pandemic economic recovery.
These small businesses can apply for low-interest loans to help their business survive.
"It very much can be the difference between survival and going out of business," Angela Tsay said. "It definitely will relieve some of the pressures many
small businesses are faced with."
Tsay started the brand Oaklandish nearly 20 years ago. Starting from selling clothing from the back of a converted camper van to opening several stories in the Bay Area, Tsay said she ran into problems stemming from the pandemic.
Louie Martirez and Tisa Potter have a look around at the new home of Oaklandish on Tuesday August 2, 2011, in Oakland, Ca. Oaklandish starting selling their love of Oakland at local farmer's markets but now they have opened a new retail store near th
One of the organizations participating in the initiative is the Pacific Community Ventures with its Oakland Restorative Loan Fund. Pacific Community Ventures received a $5 million grant and is offering low-cost loans for business owners.
In 2021, Tsay applied and received a loan from Pacific Community Ventures after the pandemic reduced foot traffic and her customer base, causing her to close some stores, she said.
She said the loan helped keep her business afloat, expressing gratitude and calling the funds a "lifeline for many [businesses] in Oakland."
Kaiser says they recognize a connection between health outcomes and economic opportunity and is working with 11 organizations that will grant funds to business owners and entrepreneurs in Oakland.
"We learned about the numerous needs that small businesses have in order to survive and thrive …," said Yvette Radford, Kaiser Permanente Northern California's vice president of external and community affairs. "We’re proud to fund the organizations that will provide these resources and supports that Oakland’s resilient, diverse small businesses need to succeed."
Other organizations include:
- Spanish-speaking Unity Council with $2.75 million for diverse-owned and small businesses for planning, financial management, and other training
- East Bay Community Foundation granting $2.5 million to businesses to address public safety concerns
- Black Cultural Zone with $2 million to support current or legacy Black business owners in East Oakland to strengthen their infrastructure
- $400,000 each to the Latino, African American, Vietnamese, and Chinatown Chambers of Commerce to support businesses in networking, convening, and training
- $500,000 each to the Oakland Fund for Public Innovation/ESO Ventures for training Black and Brown entrepreneurs and offering business services, and to the Philanthropic Ventures Foundation/Oakstop for engaging entrepreneurs in a one-year series of workshops
- $900,000 to the Oakland Metropolitan Chamber of Commerce for developing solutions to address common challenges small businesses may face