#USA #New York #Entrepreneurship #Zelle #CBCF

Zelle® Awards Scholarships to Future Entrepreneurs

On April 15, 2026, Zelle® in collaboration with the Congressional Black Caucus Foundation (CBCF) and Community Development Investors (CDI) revealed the ten recipients of the inaugural Zelle® Community Development Entrepreneurship Scholarship. This initiative targets MBA students in Entrepreneurship Through Acquisition (ETA) programs at five Historically Black Colleges and Universities (HBCUs).

The scholarship aims to support emerging entrepreneurs as they prepare to grapple with the impending 'Silver Tsunami,' where nearly 2.9 million baby boomers are anticipated to retire by 2035, prompting a significant transition in small business ownership. The recipients of this scholarship are:

• - Claflin University: Latisha Cuthberth
• - Howard University: Amanda C. Gayle, Kayla Isaacs, Carmen Ross
• - Jackson State University: Kazarius Bowie, Jordyn Martin
• - Morgan State University: Youssouf Barry, Khedema E. Robert
• - Virginia State University: India Nijae Bundy, Madison Traylor

Denise Leonhard, General Manager of Zelle, noted, "Millions of small businesses are approaching an ownership transition. Zelle is committed to supporting small businesses, so Main Street remains strong." This reflects Zelle's commitment to future business leaders by enhancing access to educational resources, financial support, and necessary tools for success.

Nicole Austin-Hillary, president and CEO of CBCF, emphasized the importance of educational opportunities in nurturing the next generation of entrepreneurs, stating, "This initiative provides a unique opportunity that builds upon the work of a generation to provide business ownership pathways for the next generation of leaders." She expressed pride in collaborating with CDI and Zelle to bolster small businesses and their future leaders.

Christopher Weaver, Executive Director of CDI, expressed that through partnerships like this, inclusivity among business owners is promoted. He highlighted, "As millions of small businesses transition ownership in the coming years, these students represent a critical pipeline of entrepreneurs who can step in, preserve jobs, and build wealth in underserved communities."

Zelle's partnership is part of a broader initiative under the Economic Opportunity Coalition (EOC), focusing on creating pathways for aspiring entrepreneurs to acquire and sustain small businesses after graduation.

India Bundy from Virginia State University remarked about the importance of initiatives like this one, saying, "It plays a powerful role in increasing access to small business ownership by reducing financial barriers and expanding opportunities for aspiring entrepreneurs." Such support facilitates students' focus on acquiring the knowledge, skills, and networks essential for launching successful business ventures.

Amanda C. Gayle from Howard University expressed that scholarships like these not only create independence but also allow entrepreneurs to explore their creativity. "Affirming entrepreneurs through scholarships tells them they can succeed through the formation of their ideas, and that's powerful," she said.

The recipients were honored at an event held in Washington, D.C. on April 10, 2026, where each student received a $10,000 tuition grant designed to ease their financial burdens as they pursue their MBA degrees with the goal of ownership through acquisition.

About Zelle®

Zelle® is a digital payment service facilitating rapid and dependable money transfers between millions of users and small businesses. Operating through a network of over 2,300 financial institutions, Zelle® empowers users to send and receive funds directly, steering clear of cash, checks, or third-party applications.

About the CBCF

Founded in 1976, the Congressional Black Caucus Foundation, Inc. (CBCF) is committed to advancing the global Black community through the development of leaders, informing policy and educating the public. As a non-partisan, nonprofit organization, it does not engage in legislative or regulatory matters but focuses on fostering educational opportunities and leadership development in various realms.