Square has announced a new business accelerator program created to help Black and Latinx entrepreneurs.

The global technology company will support 25 early-stage businesses with $20,000 in funding through its program, Forward.

“At a time when Black and brown entrepreneurs are opening more businesses than anyone else, Square is helping to create a space where great ideas and hard-working sellers can get the support and coaching required to reach the next level,” Naomi Wheeless, global head of customer success, said in a statement. “Forward is the result of a lot of hard work and dedication from talented employees across the Square organization who are committed to seeing minority-owned businesses make it past the start-up stage and go on to thrive.”

Those selected will also receive mentorship and training developed with 1863 Ventures, a Black-owned venture capital firm that aims to create more than $100 billion in revenue for its founders, according to a statement.

Program mentors include: actress, activist, designer, and businesswoman Rosario Dawson; bestselling author and CEO of Sweet July Ayesha Curry; financial advisors and podcasters Rashad Bilal and Troy Millings of Earn Your Leisure; and NBA champion, entrepreneur and Social Change Fund United (SCFU) co-founder Dwyane Wade.

At a time when businesses are prioritizing multiple income streams and tech automation, Square plans to leverage its software and systems to provide entrepreneurs with access to its banking, marketing, and payroll tools, according to a statement.

It also comes at a time when the Silicon Valley Bank collapse has impacted funding paths for Black and Latinx entrepreneurs, compromising more than $175 billion in deposits.

Businesses in the U.S. are encouraged to apply. Retail businesses are required to be a part of the clothing and accessories, health and beauty, home decor, or food and beverage sectors, according to a statement.

Applicants must also be within the first three years of business and have been founded by a CEO that is Black or Latinx.

A press event is planned for June. To sign up, visit the website.