Connect with us

Business

Entrepreneurship program offers financial aid to women of color

Despite African Americans large representation in buying power (over $1 trillion dollars), they are still underrepresented in the business sector when it comes to entrepreneurship and accounting only representing 7 percent according the 2007 Census.

unheard voices magazine profile logo

Published

on

Entrepreneurship
Photo by Emmy E: https://www.pexels.com/photo/woman-wearing-gray-notch-lapel-suit-jacket-2381069/

Despite African Americans large representation in buying power (over $1 trillion dollars), they are still underrepresented in the business sector when it comes to entrepreneurship and accounting only representing 7 percent according the 2007 Census.

Black women entrepreneurship

Programs like the Venture Capital Access Program, in partnership with Harvard Business School Alumni Angels of Greater New York (HBSAANY) and The National Association of Investment Companies (NAIC) , aim to curve that percentage greatly.

Entrepreneurship is on a rise within African Americans, however the funding is still lackluster.

Black borrowers face “a perception out there that African Americans have an inferior skill set and expectations,” argues R. Donahue “Don” Peebles, chairman and CEO of Peebles Corp., an African American real estate developer. “How do you start a business if banks won’t lend?” asks the Reverend Jesse Jackson. Smaller nonprofit players such as Seedco Financial, which extends money and technical assistance to low-income entrepreneurs, may help some deal with the funding gap.

VCAP will provide capital to minority women, as well as linking them to other women entrepreneurs.

Application

Entrepreneurs can apply through The Marathon Foundation website at www.marathonfdn.org.

VCAP applicants will be reviewed in a series of screenings conducted by the Marathon VCAP selection committee, HBSAANY, and NAIC board members. Finalists will be announced Monday, June 18th and will present their business plans to HBSAANY angel investors at a Pitch Night in New York City on Wednesday, June 27th.


Discover more from Unheard Voices Magazine

Subscribe to get the latest posts sent to your email.

Unheard Voices, an award-winning, family-operated online news magazine, began in 2004 as a community newsletter serving Neptune, Asbury Park, and Long Branch, N.J. Over time, it grew into a nationally recognized Black-owned media outlet. The publication remains one of the few dedicated to covering social justice issues. Its honors include the NAACP Unsung Hero Award and multiple media innovator awards for excellence in social justice reporting and communications.

Archives

Tags

unheard voices shop
unheard voices on google play unheard voices on itunes

Trending