Accelerator program to help LA Black-owned companies

LOS ANGELES (CNS) — In an effort to assist Black-owned companies recuperate from the COVID-19 pandemic, a Los Angeles nonprofit is accepting purposes Monday from enterprise house owners within the private care trade to affix its free accelerator program.

Purposes will be submitted for the Black Enterprise Excellence Technical Help Initiative by means of Aug. 6, and accepted enterprise house owners will start the 12-week program on Sept. 20, in line with Native Initiatives Help Company Los Angeles. This system will embody 10 expert-led studying modules, one-on-one enterprise advising, networking alternatives throughout the private care trade, investor pitching alternatives and entry to this system’s alumni community.


What You Want To Know

  • The Black Enterprise Excellence Technical Help Initiative can be accepting purposes from Black-owned companies to affix its free accelerator program by means of Aug. 6
  • The accelerator program goals to assist Black-owned companies recuperate from the COVID-19 pandemic
  • This system will embody 10 expert-led studying modules, one-on-one enterprise advising, networking alternatives throughout the private care trade and extra
  • The initiative is a part of LISC’s Black Economic Development Agenda

“We’re proud to launch the BBET Help Initiative to help Black-owned small companies and obtain our broader objectives by offering financial alternatives for various communities,” stated LISC Los Angeles Government Director Tunua Thrash-Ntuk. “Black-owned private care companies had been among the hardest hit in the course of the COVID-19 disaster — and we consider this program will assist essentially the most impacted communities to thrive.”

In accordance with LISC, greater than half of Black-owned companies had their income lower in half in the course of the pandemic and Black enterprise possession decreased by 41% nationwide, citing a Washington Put up article from Could 2020.

Black enterprise house owners can qualify for the BBET Help Initiative if they’ve been in enterprise for a minimum of two years; are within the private care, well being, wellness or magnificence sector; are positioned in Los Angeles County and are capable of commit to 5 hours per week for the 12 week program. Small companies with lower than $300,000 in income are most popular however not required.

“Companies offering private care companies had been notably impacted during the last 12 months and partnering with LISC on this initiative was a simple determination and the fitting factor to do,” stated Sherri Scott, senior govt vice chairman of Pacific Premier Financial institution.

The initiative is a part of LISC’s Black Financial Improvement Agenda, which additionally contains:

  • ASCEND LA, a program to supply small companies owned by ladies and other people of shade with capital, market alternatives and govt administration schooling
  • The Elevate B.L.A.C.Ok. Leaders program (which stands for Black Leaders Academy Collective Information) to help succession planning efforts for Black-led group improvement and racial justice organizations

The appliance for the BBET Help Initiative is accessible here, and LISC will host two data webinars earlier than the Aug. 6 deadline. Folks can register for the webinars taking place on July 28 and Aug. 4 right here.

Extra details about the Black Financial Improvement Agenda will be discovered at www.lisc.org/los-angeles/BEDA.