Business
Diddy launches new platform to aid minority-owned small businesses amid coronavirus pandemic
Sean “Diddy” Combs has launched a new venture to help minority-owned small businesses impacted by the coronavirus pandemic.
Sean “Diddy” Combs has launched Our Fair Share, a new venture to help small businesses impacted by the coronavirus.
Our Fair Share is “a platform built to help minority entrepreneurs and small businesses access much-needed capital amid the economic devastation brought by COVID-19.”
Officials said the first round of funds from the Paycheck Protection Program (PPP), which is part of the $2 trillion stimulus package the U.S. Congress approved to combat the pandemic, didn’t go to those who needed it most.
Our Fair Share aims to educate diverse small businesses, independent contractors and nonprofits, to understand that they are eligible and how to apply for PPP.
“COVID-19 is devastating our communities and without access to stimulus funding we risk losing critical businesses that create jobs and help build opportunities and wealth in our communities,” Diddy said.
He added that the goal is “to help entrepreneurs play on an even playing field and give them a chance to survive with the hope to thrive.”
Diddy announced a partnership with National Bankers Association, the trade group representing minority-owned financial institutions, to connect minority-owned banks and financial technology companies to the Our Fair Share platform and enable these banks to originate PPP loans from applicants that utilize the site.
The platform will be “dedicated to getting funding into the hands of the entrepreneurs that need it and will evolve to meet the needs of the minority small business community.”
Visit Our Fair Share’s website to learn more.
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