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The Joe and Clara Wu Tsai Foundation appoint FAMU ALUM & SJGC BOV member Gregg Bishop as executive director of the Social Justice Fund

By Sterling Bright
July 1, 2021

This past week, the Social Justice Fund of the Joe and Clara Wu Tsai Foundation announced their launch of a $2.5 million loan fund that will provide support for business owners of color in the Brooklyn area.  With this announcement, the foundation announced the School of Journalism and Graphic Communication Board of Visitors member Gregg Bishop, executive director of the Social Justice Fund. The Social Justice Fund launched in 2020 with a ten-year, $50 million commitment.

"As the city comes back from the pandemic, we have an opportunity to do it better than we did before, to address some of the longstanding barriers preventing the accumulation of Black wealth and ensure that everyone can equally benefit from the capital that is coming into our city anew," said Bishop.

Before entering the workforce, Bishop received his B.S. in Business Administration from FAMU in 2005 and was recognized as one of the Top 5- Most Influential Males" by the Famuan Newspaper. Following his time at FAMU, Bishop received his master's in integrated marketing and Management Communication from Florida State in 2007.

Bishop has also continued to give his time back to FAMU as an active member of the FAMU School of Journalism and  Graphic Communication Board of Visitors. The BOV is a group of accomplished journalists and leaders dedicated to preparing students for their Journalism, Public Relations, or Graphic Communications careers. BOV members serve as advisors to the Dean, provide resources for funding and technical equipment, and serve as advocates for SJGC.

Before this appointment, Bishop served as an interim executive director of the Coro New York Leadership Center, a leadership organization that promotes diverse talent across the five boroughs in New York.

Bishop is doing great work with the foundation, and according to them, African-American entrepreneurs had to close their doors twice as much compared to their white counterparts. However, this is not a new issue, and according to the foundation, BIPOC business owners had limited access to capital before the Covid-19 pandemic began.

"I am deeply grateful to Clara Wu Tsai and Joe Tsai for their visionary support of Brooklyn entrepreneurs, and look forward to an exciting phase ahead," said Bishop.

The funds aim to provide support and aid to business owners and help in post-pandemic recovery. In partnership with Brooklyn Alliance Capital, TruFund Financial, and the Brooklyn Chamber of Commerce, the Brooklyn EXCELerate Loan Program will offer loans of up to $15,000 to businesses that were able to stay open through the pandemic.

The loan is designed to cover expenses such as equipment, renovations, and rent. However, restart loans of up to $100,000 can also be obtained to qualifying businesses.