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Pepsi, National Urban League bring Black Restaurant Accelerator to 12 cities, including D.C.

Black-owned restaurants in D.C. will have access to a new business accelerator program starting next year.

PepsiCo and the National Urban League this week announced plans for a Black Restaurant Accelerator, which looks to support existing and emerging Black restaurateurs in 12 cities, including the District and Baltimore.

The program, supported by a $10 million grant from the PepsiCo Foundation, will offer training, mentorship, access to capital and other services, according to the announcement.

The accelerator aims to focus on 30 to 40 businesses per city, according to a spokesman.

The program comes as Black business owners, who already face systemic hurdles including greater challenges with landing loans and financing, are also confronting the effects of the novel coronavirus outbreak. Black-owned businesses have been hit harder by the pandemic: a recent University of California, Santa Cruz study found 41% of Black-owned businesses have closed since February of this year, compared…

Read the full story from the Washington Business Journal.

American University says no tuition increase for fall semester. But that is challenging the school’s budget process.

American University will hold tuition steady for the fall 2021 semester, the Northwest D.C. institution announced Monday, while focusing “intently on enrollment, retention and expense management” to maintain its fiscal health as the impact of Covid continues to take a toll. AU expects to complete its 2022 budget in March, but one decision was already made: “no tuition increase for the 2021-2022 academic year,” President Sylvia Burwell and other school leaders wrote in a letter to the AU community.
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