Gilbert Family Foundation announced that it will grant over $4 million to Black Leaders Detroit (BLD) and the Michigan Black Business Alliance (MBBA). The announcement made during Black Business Month detailed that the capital will be allocated towards several programs for Detroit business owners, including increasing access to capital, technical assistance, business coaching, and more.

“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,” Darnell Adams, Vice President of Detroit Community Initiatives, Gilbert Family Foundation, said in a press release.

$2.1 million investment to BLD

$2.1 million investment will go towards helping The Building Fund, a no-interest loan program providing up to $150,000 to real estate developers working on residential projects in Detroit. 

The program is designed to assist individuals who have been hindered by long-standing barriers to traditional financing and support community-based developers who are bringing much-needed, high-quality housing to city neighborhoods.

Capital will be given in phases tied to construction milestones, with payments deferred for three months post-closing.

BLD will also offer its no-interest loan and capacity-building program for businesses, as well as its emergency loan program, which provides support for unexpected expenses. Lastly, part of the capital will support a special business symposium in October 2025, which will include business development workshops, panels, mentorship sessions, and networking opportunities for participants.

$2 million investment to MBBA

Gilbert Family Foundation’s $2 million investment will support the expansion of MBBA’s Global Growth Accelerator, which aims to help at least 40 second-stage businesses expand their operations beyond the start-up phase; its Capital Connect program, which increases access to funding for business owners at any stage of growth; and BizWiz, which delivers culturally competent one-on-one business coaching and technical assistance to participants.

This latest commitment from the Gilbert Family Foundation builds on previous partnerships with BLD and MBBA, including more than $1 million invested in 2023.

Both investments are a part of Gilbert Family Foundation’s $500 million, 10-year commitment –shared with Rocket Community Fund – to build opportunity in Detroit neighborhoods. The Gilbert Family Foundation and Rocket Community Fund have utilized or committed to approximately $232 million of the funding since the investment was announced in 2021 through the end of 2024.

Image: Gilbert Family Foundation