Gilbert Family Foundation Invests $4M to Boost Black-Led Businesses and Developers in Detroit

August 26, 2025

The Gilbert Family Foundation is investing $4 million to strengthen Black-led businesses and community developers in Detroit, with funds split between Black Leaders Detroit ($2. 1 million) and the Michigan Black Business Alliance ($2 million). This investment, announced during National Black Business Month, aims to create economic opportunities for historically underserved communities and is part of a larger $500 million commitment over ten years that began in 2021.

Who is affected

Black entrepreneurs and business owners in Detroit
Black community developers, particularly those of African descent
Second-stage Black-owned businesses (beyond startup phase)
Detroit residents, especially those in historically underserved communities
Detroit neighborhoods where development projects will take place

What action is being taken

The Gilbert Family Foundation is investing $4 million in Black-led businesses and community developers
Black Leaders Detroit is expanding The Building Fund to provide no-interest loans to developers of African descent
BLD is planning to host a business symposium in October for workshops, mentorship, and networking
MBBA is enhancing its Global Growth Accelerator to help second-stage businesses grow
MBBA is continuing its Capital Connect initiative to link businesses with appropriate funding sources

Why it matters

The investment addresses historical economic disparities and barriers to funding faced by Black entrepreneurs
It helps create generational wealth in historically underserved communities
The initiatives contribute to Detroit's broader economic revival and sustainable growth
The funding enables Black developers to revitalize homes and improve commercial spaces
It ensures Detroit's growth benefits long-time residents who have weathered the city's challenges

What's next

BLD will host a business symposium in October featuring workshops, mentorship, and networking opportunities
MBBA will continue developing its Global Growth Accelerator to support at least 40 second-stage businesses
The Building Fund will be scaled to enable more Black developers to access financial resources
The foundation will continue working toward its larger $500 million commitment (with $232 million already deployed)

Read full article from source: Michigan Chronicle