Benzinga | Oct 28, 2021 08:50AM EDT

H&R Block Is Providing Direct Relief Via Grants For Black Business Owners Disproportionately Impacted By The Pandemic

H&R Block, Inc. (NYSE:HRB) and The Urban League of Greater Kansas City announced today the distribution of five micro-grants among the first cohort of Black business owners participating in the first year of the new small business program provided in partnership by the two organizations.

The program supports Black-owned businesses, helping them survive and thrive as part of H&R Block's goal of reaching and supporting 500,000 small business owners by 2025. Block Advisors small business certified tax pros provide free one-on-one coaching designed to improve financial management, tax compliance, bookkeeping and payroll; ultimately increasing business owners' confidence when seeking financial capital and helping to foster equitable communities. The Urban League also provided free credit-building services and other business coaching, as needed.

The five business owners who are receiving micro-grants that align with their personalized, business coaching goals are:

* 5515 LLC Roofing & Construction, to purchase new equipment for roof inspections.

* Anna's BLD Restaurant & Catering, to purchase new kitchen equipment.

* Arthur's Hometown Sausage & Barbecue, to purchase necessary marketing materials for a new food truck.

* GiGi's Bait & Tackle & Restaurant, to purchase a new point-of-sale system and restaurant seating.

* Magnolia's Catering, to manage marketing and promotional expenses.

According to data from Block Advisors' ongoing "Small Business Recovery Series," Black-owned businesses are seeing a disproportionate impact from pandemic-related factors, including more than half of Black business owners reporting a revenue decrease by 50% or more compared to only 37% of white business owners since March 2020. With nearly half (47%) of small business owners not optimistic about success in 2021, Block Advisors is doubling down on its small business focus through its partnership with the Urban League of Greater Kansas City to improve financial management and confidence among Black small businesses.

Business owners can learn more about the program by contacting Urban League of Greater Kansas City at www.ulkc.org.