Women of Color Small Business Relief
Our grant giving was first developed to provide women-owned small businesses with access to funding to assist them in starting or growing a business. Today it exist as emergency funding assistance for women of color small business owners in order to help them continue to function during this unexpected financial challenges threaten their daily operations due to the COVID-19 pandemic.
According to some experts, up to 90% of minority and women small business owners are predicted to be denied a PPP loan because financial institutions are favoring pre-existing customers when distributing the funds, therefore ignoring many minority and women entrepreneurs who may not have a bank loan.
“Roughly 95% of Black-owned businesses, 91% of Latino-owned businesses, 91% of Native Hawaiian or Pacific Islander-owned businesses, and 75% of Asian-owned businesses stand close”
They need our help now more then ever!
Since 2014 Women on the Rise NY, Inc. dba HerSuiteSpot has administered the distribution and services for the foundations grant giving. Combined with the economic relief each recipient will be provided with one year membership to HerSuiteSpot.
The goal is to encourage women to follow their dreams and by supporting the economic success of women you are making it possible for for them to achieve their goals as entrepreneurs.