Celebrating black-owned businesses to help inspire business growth

The fabric of America is incredibly diverse and continues to grow increasingly so. Almost 40% of people identify as racial or ethnic minorities today, with just over 12% identifying as Black. And incredibly, five states, including California and Texas, are populated by more than 50% minority populations. Because of this growth, giving small, Black-owned businesses the specialized support they need to grow and thrive is more important than ever.

This month is dedicated to celebrating and supporting Black-owned businesses, which make up only 10% of all businesses in the United States. Yet, there are 41.6 million Black Americans currently living in the US. While there are many successful Black-owned businesses, there is still much work to be done, considering there are only seven Black billionaires. To succeed, Black-owned businesses can utilize many great programs available, including:

The US Small Business Administration is an excellent resource for budding businesses and even works with Resource Partners at Historically Black Colleges and Universities to provide tools and training to business leaders.
Black Owned Business Expo is another great resource, providing a platform for Black-owned businesses to showcase their products and services. They also offer business coaching and mentorship programs.
The US Department of Commerce’s Minority Business Development Agency offers many events, initiatives, and other resources to support minority-owned businesses within the US.

With these and other available resources, we can hope to raise the percentage of Black-owned businesses from 10% to represent a more equitable space within the economy.

Natural as I Wanna Be is a Black-owned business focusing on organic skincare products. NAIWBE has demonstrated a commitment to quality and sustainability, which are values that Ascendus holds dear. NAIWBE’s products are responsibly sourced and made for all skin types.

Egunsi Foods is a Black-owned business that brings West African flavors to your table. Their soups and sauces are preservative-free and made with fresh, local ingredients. They have vegan, gluten-free, and dairy-free options, making them a great choice for any diet. Their products have a lower environmental impact and are gluten and grain-free.

Shaey Slay Boutique is a Black-owned business that provides unique and affordable clothing options for women of all ages. Shaey Slay Boutique also offers services that include personal styling, private shopping parties, and made-to-order clothing. The boutique’s mission is to provide high-quality clothing and exceptional customer service to its clients.

Click to watch, and learn more about a few of the incredible businesses that successfully navigated the pandemic with Ascendus.

Celebrate Black Small Business Month by Applying for a $2,000 Black Business Grant

GoFundMe is giving a total of $30,000 to Black-owned businesses that are giving back to their communities. Apply today or share this with a business you love in your neighborhood.

Apply Now!

Connecticut Small Business Boost Fund

Supported by the Connecticut Department of Economic & Community Development, the Connecticut Small Business Boost Fund links Connecticut small businesses and nonprofits to the financial support they need to thrive. The fund offers flexible funding for capital expenditures and working capital, as well as support services for small businesses and nonprofits in Connecticut. This personal, equitable approach to lending is available to business owners who need between $5,000 and $500,000, depending on eligibility and need.

Apply Now

NY State COVID-19 Pandemic Recovery Grant

The New York State COVID-19 Pandemic Recovery Grant is a program that provides flexible grant assistance to small businesses, micro-businesses, and for-profit independent arts and cultural organizations who have experienced economic hardship due to the COVID-19 pandemic. Eligible businesses can receive up to $50,000 in grant assistance.

Apply Now.

SOAR

The Southern Opportunity And Resilience (SOAR) Fund provides 4% loans up to $100,000 to small businesses and nonprofits to navigate and rebuild from COVID-19.

Washington Flex Fund

Supported by the Washington State Department of Commerce, the Small Business Flex Fund is designed to help small business owners and nonprofits access funds at a competitive interest rate to bounce back more vital than ever.

Childcare Business Development

Ascendus is now offering loans up to $50,000 for licensed childcare businesses at a 9.99% interest rate. Qualified Businesses can be located nationwide, excluding Vermont. If you have been in business for more than three years, you can access up to $20,000 in fast-track financing at the same interest rate within 48 hours. No paperwork is required to apply. You can learn more about this program learn more here.

Rideshare Business Term Loan and Line of Credit

Loans up to $10,000 in financing for rideshare businesses are offered at 9.99%. Qualified businesses will be in CT, MA, ME, NH, NJ, NY, or RI. Learn more here.

TrustPlus

One-on-one personal finance coaching is available to you through our partnership with TrustPlus, a national nonprofit with three decades of experience supporting clients on paths to financial health.

RFLF

0% loans up to $50,000 with only $25 monthly payments for the first 12 months for restaurants dedicated to creating safe and equitable work environments for their employees with the restaurant futures loan fund. Open to qualified businesses in all states except Vermont.

Samuel Adams BTAD Food Styling & Photography Coaching

Are you an NYC food or beverage small business owner looking for advice on food styling, photography, and marketing? Samuel Adams Brewing the American Dream and Hot Bread Kitchen are excited to bring their Food Styling & Photography Coaching event to NYC this fall! Learn more here.

Celebrating black-owned businesses to help inspire business growth