Black Millionaire
Development Program Guidelines
Program Guidelines
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Overview
Application Process
Application Review Process
Eligibility Requirements
Participant Commitments
Overview
The Black Millionaire Development Program assists owners of start-up and established micro-ventures with business planning, licensing, setting up systems and processes, and networking to increase the likelihood of success.
The program aims to:
Increase the number of microbusinesses in the Black community
Stabilize existing micro businesses
Connect business owners to service providers
Increase networking and support among participating entrepreneurs
Increase the number of nontraditional business owners
Applications for the cohort open on October 2nd, 2023 and must be submitted on the form available here by October 13th, 2023.
Eligibility Requirements
To be eligible, applicants must:
Be a San Francisco resident
Have a business registered in San Francisco or be ready to register a business and complete the registration before the end of the program
Be part of at least one of the target communities
Be available 5 hours per week during the duration of the program,
Be low-to-moderate-income
Application Process
Phase One
Entrepreneurs living in the City and County of San Francisco are invited to submit an application to the Black Millionaire Development Program.
Applications must be submitted on the form available here. Late applications will not be accepted.
Review the Frequently Asked Questions before submitting your application.
Phase Two
A group of applicants will be invited to interview with the BMDP Staff during phase two of the application process.
Applications received will be scored out of 20 points based on the following criteria:
Applicant’s need for business development support: Does the applicant need support growing or starting their business? (scored out of 5 points)
Business age: How long has the business been in operation? Please note that current and new businesses will be accepted into the program. (scored out of 5 points)
Business impact on their community: Does the business help create a thriving community in San Francisco? (scored out of 5 points)
Business impact on the business owner: Does the business create a source of revenue for the business owner that can lead to financial independence? (scored out of 5 points)
Participant Commitments
Attendance: Must attend 7 out of the 8 weekly classes for 8-week programs and be engaged during the class. All class materials will be made available on the program members-only site.
If you cannot attend a class or need assistance accessing class materials, please let us know by emailing info@sfbwsfoundation.org. Participants who cannot attend a class are responsible for reviewing the class materials and completing all assignments missed.
A class schedule will be made available at the beginning of each cohort. Changes might be made.
Weekly check-ins: Must schedule and attend a weekly 30-minute check-in with BMDP staff. The check-ins are spaces for participants to ask questions, provide feedback, and assess their progress in the program.
Assignments: Must complete at least 90% of all assignments. Each assignment will take no more than an hour and must be turned in by Monday of the following week.
Assignments are intended to give participants an opportunity to practice and refine the skills they learn in the program.
Technology Access: Must have access to a computer with a reliable internet connection to participate in the weekly classes, check-ins, and complete assignments.
If you do not have a computer accessible, please email us at info@sfbwsfounation.org. We have a limited number of computers in our office available for program participants.
The Black Millionaire Development Program is offered by SF Black Wallstreet Foundation with support from the Human Rights Commission, the Dream Keeper Initiative, and the Office of Economic and Workforce Development.