Entrepreneurs of Color Fund: Millionaire mutual funds to support minorities
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Entrepreneurs of Color Fund: Millionaire mutual funds to support minorities in Atlanta

2022-06-18T02:41:19+00:00
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  • A financial initiative was launched in Atlanta to support minorities.
  • The Entrepreneurs of Color Fund has millions of dollars.
  • Beneficiaries will be small business owners in Atlanta.

The Entrepreneurs of Color Fund initiative in Atlanta was officially launched in the metropolitan area. It is designed to give entrepreneurs from minority communities in the region greater equality in access to financial capital. They now have a $3.2 million aid fund.

“We will be supporting small businesses through access to capital, technical analysis and connections. We hope that this Fund will assist them as entrepreneurs, as we always see their needs,» said César Abadía, managing vice president at Chase, one of the financial entities that supports the Fund.

The beneficiaries

Amika Carter, owner and founder of Beya Salon Studios. Photo: Kamila Daza

One of the Fund’s beneficiaries is Amika Carter, who is the owner and founder of Beya Salon Studios, a small business that rents exclusive, modern, private studio spaces to talented beauty professionals. Carter said that her business was severely hit during the pandemic but she has succeeded with the help of these funds.

“With COVID-19 we had to close our doors, because everyone had to be at home and they couldn’t pay their rent and I couldn’t pay mine. So with those funds we could pay the rent, and thus we saved time. Now the business is doing well and the situation has completely changed, thanks to the help of these Funds,» said Carter.

Help and recovery

Alejandro Coss, president of the Latin American Chamber of Commerce. Photo: Kamila Daza

Meanwhile, Alejandro Coss, president of the Latin American Chamber of Commerce, affirmed that, thanks to this initiative, “new resources are being brought to Latino entrepreneurs and it is very important, particularly at this time when we have not yet finished recovering from the pandemic.”

«At the Latin American Chamber of Commerce we created a relief and recovery fund for Latino small businesses and we have been able to give direct financial support to those who needed to pay their rents and services, so they could keep their doors open and the lights on,» Coss told MundoNOW.

Where to go for help

Keisha Lance Bottoms, Mayor of the City of Atlanta. Photo: Kamila Daza

Keisha Lance Bottoms, Mayor of the city of Atlanta, was also present at the event. She thanked the initiative for “joining the purpose of helping the community and ensuring small businesses can function,” even with the persistence of a pandemic that has affected everyone in the country.

The event revealed details about how small business owners can apply for and access financial aid, which will depend on the characteristics and needs of the company. For more information, César Abadía suggested checking out Chase for Business.

César Abadía, Managing Vice President at Chase. Photo: Kamila Daza

The post Millionaire mutual funds to support minorities in Atlanta appeared first on MundoNow.

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