Information services firm Experian has teamed up with The NAACP Empowerment Programs to launch a pilot program that aims to help African American homeowners manage through the COVID-19 crisis.
Through the program, Experian will provide financing of up to $10,000 for each selected grant recipients. The Home Preservation Grant will initially focus on homeowners in the Metro Atlanta area, according to the company.
Wil Lewis, North America chief diversity, inclusion and belonging officer at Experian, said that the pandemic has “brought on additional challenges” to Black Americans, who “have historically faced barriers to achieving this American dream.”
“We know homeownership is a way not only to build generational wealth but also build the generational vibrancy of communities,” he said. “Especially during the holiday season, we hope the Home Preservation Grant helps communities not only survive but thrive.”
The NAACP and Experian started taking applications on December 2 and will continue through December 8. Grant recipients will be announced December 14.
“Now more than ever, it’s critical that African Americans have access to wealth-building opportunities and financial security. Since the beginning of this pandemic, the NAACP has launched multiple programs to ease the financial burdens families have experienced,” said Dawn Chase, NAACP director of equity and inclusion.