This Is Our New Reality
This year 2020 has changed our lives in unconscionable ways. Who would have imagined a world where we couldn't hug, touch or kiss our loved ones.
As business owners and entrepreneurs we work hard, take risks and put everything on the line and if for any reason we fail, it's by our own hand. The pandemic paused some businesses and completed devastated others. Pivoting became the new catch phase for those able to change or morph.
Right now we can use a bit of inspiration with church's and places of worship closed we look into each others eyes (offset by masks covering our mouths and noses) and we smile. Lets make a commitment to keep smiling behind the masks, while fighting for social and criminal justice reform, economic recovery, education, equitable health care and voting rights.
In the mist of this new reality I have been advocating for the financial support of women business owners. I have spoken to and had meeting's with politicians, bankers, community leaders, business owners and entrepreneurs. I've expressed it in so many ways...we need money to survive. More grants and low to no interest loans with a patient repayment schedule. I have sourced a comprehensive list of grants, loans and resources below, please apply to all that may be of assistant to you.
I WISH YOU A HEALTHY & SAFE HOLIDAY SEASON
Princess Jenkins-President
Women In The Black New York, Inc.
As business owners and entrepreneurs we work hard, take risks and put everything on the line and if for any reason we fail, it's by our own hand. The pandemic paused some businesses and completed devastated others. Pivoting became the new catch phase for those able to change or morph.
Right now we can use a bit of inspiration with church's and places of worship closed we look into each others eyes (offset by masks covering our mouths and noses) and we smile. Lets make a commitment to keep smiling behind the masks, while fighting for social and criminal justice reform, economic recovery, education, equitable health care and voting rights.
In the mist of this new reality I have been advocating for the financial support of women business owners. I have spoken to and had meeting's with politicians, bankers, community leaders, business owners and entrepreneurs. I've expressed it in so many ways...we need money to survive. More grants and low to no interest loans with a patient repayment schedule. I have sourced a comprehensive list of grants, loans and resources below, please apply to all that may be of assistant to you.
I WISH YOU A HEALTHY & SAFE HOLIDAY SEASON
Princess Jenkins-President
Women In The Black New York, Inc.
GRANT FUNDING & RESOURCES
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16 GRANTS FOR WOMEN BUSINESS OWNERS
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FREE MARKETING GUIDE
1) Brooklyn Chamber of Commerce No Interest Loan Program
Link to apply is below.
https://www.brooklynchamber.com/services/assistance-programs/financing-assistance/
2) Greg Perlman & Michael Clark Small Business Angel Fund The Change Reaction, in partnership with the Hebrew Free Loan Society
is offering zero interest loans of $7,500-$25,000 for small businesses that are still operating and $3,000- $7,500 for small businesses that have been forced to close because of government orders. The loans are available to businesses operating in Brooklyn’s City Council District 39 or Assembly District 44.
Eligible applicants:
1. Reside in New York City, Long Island, Westchester, or Rhinebeck;
2. Have good credit (minimum credit score of 650);
3. Have had business revenues of $1.25 million or less;
4. Have had 15 or fewer employees before the pandemic;
5. Have made on-time rent payments from March 2019 to February 2020
6. Meet certain household income
https://www.tfaforms.com/4824201
3) TruFund COVID-19 Relief Fund TruFund:
has launched a $5 million Relief Fund primarily in support of women and disadvantaged minority business owners. The Fund offers grants of up to $10,000 and low-interest (3%) loans of up to $75,000, payment of which may be deferred for 9-12 months.
A business is eligible if it:
1. Has been operating since August 2019;
2. Can demonstrate economic injury caused by COVID-19; and
3. Is located in New York, Northern New Jersey, Alabama, Louisiana, or Texas.
• For more information about this Fund, click here.
https://www.trufund.org/trufund-launches-5-million-covid-19-relief-fund-to-support-disadvantaged-minority-and-women-owned-businesses/
4) Mainvest’s Main Street Initiative:
Your business can start a crowdfunding campaign with Mainvest, and you may be eligible to receive a $2,000 interest-free loan, in addition to any funds raised by the crowdfunding campaign. Small brick and mortar businesses are eligible for this Program. • For more information about this loan click https://mainvest.com/main-street-initiative
• Create a page for your business (first step) and launch your crowdfunding campaign https://mainvest.com/raise
5) Fiserv Grants:
For black and minority owned businesses: https://aeoworks.org/Fiserv/
6) NYC Storefront Loan:
The program offers 0%-interest loans of up to $100,000 to storefront businesses with 2-99 employees who have business operations since or before January 1st, 2018, were cash flow positive in 2019, and are located in LMI neighborhoods.
The loan term is 60 months with no payments for the first six months, and the proceeds can be used to help businesses restart or continue operations after experiencing challenges from COVID-19.
To apply: https://www1.nyc.gov/nycbusiness/article/nyc-lmi-storefront-loan
6) Interest Rate Reduction Grant:
The Interest Rate Reduction Grant reduces the interest expense owed by small business owners on existing loans with eleven Community Development Financial Institutions (CDFI) who work primarily with Asian, Black, Latinx, and immigrant business owners?, freeing up cash flow to help restart or maintain operations.
Businesses must have an existing loan with a participating CDFI, who will confirm if the business is eligible to apply.
To apply: https://www1.nyc.gov/nycbusiness/article/interest-rate-reduction-gran
PLEASE SUPPORT WOMEN IN THE BLACK