ComEd Parent Company $36 Million Fund To Support Minority-Owned Business Growth Still Available
In October, in partnership with the Exelon Foundation, ComEd announced the creation of a $36 million Racial Equity Capital Fund, to help minority businesses grow and create jobs in underserved and under-resourced communities. The fund is needed now more than ever, and applications are open for minority businesses in all of ComEd's service territory.
Early in the second quarter, ComEd's fund manager RockCreek will select businesses from each of ComEd's service areas for financing, and manage the fund to serve as a continuing resource to help grow businesses and strengthen the areas Exelon serves – diverse and vibrant communities, rich with talented, creative, committed people. "We are glad to be able to share that RockCreek has connected with many minority-owned banks, lending institutions and business organizations in our jurisdictions – tapping into those networks of creative and smart thinkers to increase the capacity of the fund to be a resource for minority businesses," said Calvin Butler, SEVP and COO of Exelon. "These partnerships are crucial, because they don’t just help minority businesses, they expand the economic opportunity in the communities we serve and create space for a more equitable economic recovery."