According to reports, the announcement regarding the donation was made by the singer’s BeyGOOD fund.
The Halo singer had created the fund in partnership with US civil rights organisation.
“Proud to announce $1M in additional funds from Beyonce to help Black-owned small businesses,” read a statement on her website.
“Round two of funding opens this month with our partner, NAACP,” it added.
Quoting a spokesman for the singer’s charity partners at the NAACP, the statement said: “NAACP Empowerment Programs is delighted to administer a meaningful program in partnership with BeyGOOD’s Black-Owned Small Business Impact Fund to assist our small business communities that have been directly impacted by recent events across the country.
“The grants in the amount of $10,000 will be offered to Black-owned small businesses in select cities to help sustain businesses during this time.”