Black Business Month
🧡 A Legacy That Demands Investment
In 2004, engineer Frederick E. Jordan and journalist John William Templeton launched Black Business Month to spotlight the systemic barriers facing Black entrepreneurs and to promote access to capital, visibility, and equitable policy support.
At Legacy Redevelopment Corporation (LRC), this legacy is our mission. As a certified Community Development Financial Institution (CDFI), we’re committed to increasing access to capital and opportunity for Black entrepreneurs and neighborhood-based businesses—many of whom have historically been excluded from the traditional banking system.
📊 The State of Black Entrepreneurship in 2025
Black business ownership is gaining momentum, but disparities remain. The 2025–2026 BLACKprint by the U.S. Black Chambers, Inc. highlights both:
📈 Progress
22% increase in loan approvals for Black-owned businesses from CDFIs in the last year—a signal that alternative lenders like LRC are closing the gap.
Rising success in joint ventures and consortia in industries like construction, tech, and professional services.
More partnerships between Black entrepreneurs and federal agencies have helped boost innovation and revenue streams.
⚠️ Remaining Challenges
Black businesses still receive a disproportionately small share of federal contracts, despite their contributions to job creation.
Traditional capital markets remain hard to access, limiting growth and scalability.
Underrepresentation in high-growth industries and minimal presence in global trade remain major barriers.
💡 What’s Next?
To create true parity, we need continued investment in:
Flexible financing models
Mentorship and training
Policy reforms that prioritize Black-owned business participation
✨ LRC Client Spotlight: Dream Social Lounge Grand Opening
Photo by Kermiath McClendon
We were proud to see our client celebrating the grand opening of Dream Social Lounge in Milwaukee—a vibrant new Black-owned venue designed to connect, create, and celebrate.
Located in the historic Bronzeville district, Dream Social Lounge is more than just a business—it’s a community space and an investment in the culture of Milwaukee.
LRC provided funding support that helped this dream become a reality.
🧰 Resource Roundup for Black Entrepreneurs
Here are key resources to help Black entrepreneurs start, grow, and sustain their businesses:
🔗 LRC – Small Business Loans & Guidance www.lrcmke.com/finance-your-business
🔗 SBA 8(a) Business Development Program www.sba.gov/8a
🔗 CDFI Fund for Underserved Businesses www.cdfifund.gov
🔗 Wisconsin DOA Resources doa.wi.gov
