The Gilbert Family Foundation has announced more than $4 million in new grants to support Black Leaders Detroit (BLD) and the Michigan Black Business Alliance (MBBA), coinciding with National Black Business Month, which celebrates the contributions of Black-owned businesses across the United States. The funding is aimed at strengthening Detroit’s business ecosystem by providing expanded access to capital, technical assistance, business coaching, and other resources for entrepreneurs and community-focused real estate developers.
Of the total investment, $2.1 million will go to BLD to support The Building Fund, a no-interest loan program offering up to $150,000 to residential real estate developers in Detroit. The initiative targets developers historically affected by barriers to traditional financing and seeks to boost community-based projects that deliver quality housing to neighborhoods. Loan disbursements will be tied to construction milestones, with payments deferred for three months post-closing. In addition, BLD will expand its no-interest loan and capacity-building programs for small businesses, its emergency loan program, and will host a business symposium in October 2025 featuring workshops, panels, mentorship sessions, and networking opportunities.
Sharea Ayers, COO of Black Leaders Detroit, emphasized that The Building Fund helps developers of African descent build generational wealth, strengthen neighborhoods, and ensure that Detroit’s growth includes long-standing community members. The program is designed not just to finance projects but also to create sustainable economic opportunities within the city.
The Gilbert Family Foundation’s $2 million investment in MBBA will support several programs, including the Global Growth Accelerator, which helps at least 40 second-stage businesses scale operations; the Capital Connect program, which increases access to funding for business owners at any stage; and BizWiz, which provides culturally competent one-on-one coaching and technical assistance. Charity Dean, President and CEO of MBBA, highlighted that the grant will enable entrepreneurs, especially second-stage business owners, to scale, hire, and expand their impact, reflecting the Foundation’s long-standing support for removing barriers to Black business growth in Michigan.
These new grants build on previous investments of more than $1 million in 2023 and are part of the Gilbert Family Foundation’s broader $500 million, 10-year commitment—shared with Rocket Community Fund—to develop opportunities in Detroit neighborhoods. Since the announcement of this multi-year commitment in 2021, approximately $232 million has already been deployed or committed, underscoring the Foundation’s ongoing role in fostering economic growth, community development, and equitable access to resources in Detroit.
