Comcast is awarding 100 grants of $10,000 each to businesses owned by Blacks, Indigenous and People of Color, writes Michelle Caffrey for Philadelphia Business Journal.

The grants are open to businesses in Chester and Philadelphia that have been hit hard by the pandemic.

The $1 million is part of the new Comcast RISE Investment Fund. That fund is sending $5 million to five cities where spending has dropped significantly. Other cities are Atlanta, Chicago, Detroit and Houston.

Applications will be accepted between March 1 and March 14. The grants will be distributed in May.

Businesses must be at least three years old with one to 25 employees.

Comcast also awarded $2 million to organizations creating awareness of the RISE program and providing mentorship and training.

 “BIPOC entrepreneurs need access to capital along with the training resources and networks that are so critical to success,” said Dalila Wilson-Scott, Comcast’s chief diversity officer.

The RISE Fund invests in BIPOC-owned small businesses and creates jobs, he said.

Comcast has pledged a $100 million commitment to diversity, equity and inclusion initiatives following the racial justice movement last summer.

RISE stands for Representation, Investment, Strength and Empowerment.

Read more about the Comcast grants in the Philadelphia Business Journal.