American Express Commits $2.5 M to 100 Black Female Owned Businesses
Did you know that woman-founded businesses received a mere 2.8 percent of venture capital dollars in 2019, with female founders of color receiving just 0.32 percent? A couple big organizations are working to change that for the long-term. Co-Founder of Kazmaleje (pronounced Cosmology), LaToya Stirrup is one of 100 women selected by American Express and IFundWomen of Color for its 100 for 100 campaign that supports black female entrepreneurs. All recipients of the grant program will be awarded $25,000 plus 100 days of business mentorship. Kazmaleje, founded in Miami,
Black woman doctor key to COVID-19 vaccine
By Roz Edward While many members of the African American community have reservations regarding COVID-19 vaccinations, Dr. Anthony Fauci, the infectious disease expert who has been leading the charge against this plague wants to ease the concerns of Black people. Fauci addressed members of the National Urban League on Tuesday and revealed information that a Black woman, Dr. Kizzmekia Corbett, has been a key player in developing one of the vaccines that will soon be available to Americans later this month. “The very vaccine that’s one of the two
Biden-Harris team appoints more African Americans to influential positions
Monday, Nov. 30, was a big day for African Americans and national politics. President-elect Joe Biden and Vice President-elect Kamala Harris announced members of its initial senior leadership team who will lead their Presidential Inaugural Committee. The committee is tasked with organizing activities surrounding the swearing-in ceremony on Jan. 20, 2021. Two of the members are African American; Tony Allen, Ph.D., who will serve as CEO, and Erin Wilson, who will serve as Deputy Executive Director. Also on Nov. 30, the Biden/Harris team announced the nominations of Wally Adeyemo
Atlanta Hawks strike historic agreement with Black-owned banks
The Hawks become the first professional sports team to secure financing with Black-owned banks for $35 million refinancing of Emory Sports Medicine Complex Transaction facilitated with the support of the National Black Bank Foundation and Black Bank Fund to help bolster Black banks and the communities they serve Earlier today, the Atlanta Hawks announced that it has agreed to refinance the construction loan for the Emory Sports Medicine Complex with a syndicate of Black-owned banks. The $35 million loan marks the first time a professional sports franchise has had
Comcast RISE Offers Marketing and Technology to BIPOC Small Businesses
Comcast Corporation is bringing marketing and technology resources to Black, Indigenous, and People of Color-owned businesses. The initiative, designed for small businesses, is entering its second phase of eligibility and is looking to assist businesses impacted by the COVID-19 pandemic. Comcast RISE, an acronym meaning Representation, Investment, Strength and Empowerment, launched its first phase in October to emphasize Black-owned small businesses. The program is expanding its reach to include small businesses owned by People of Color and Indigenous to assist during these unprecedented times. Marrying two of the company’s
Archbishop Wilton Gregory Becomes First Black American Cardinal in the Catholic Church
By Danielle Sanders Archbishop Wilton Gregory becomes the first Black American Cardinal in the Catholic church’s history. Archbishop Gregory was born and raised in Chicago and ordained a priest in 1973. A product of the Englewood neighborhood, he grew up in a family that was not Catholic. They converted to Catholicism while in Catholic School. He attended Quigley Seminary, Niles College, and St. Mary of the Lake Seminary school in Mundelein. He earned his doctorate in sacred liturgy in Rome from the Pontifical Liturgical Institute before returning to
Zillow Finds Remote Work Could Help Black Renters Become Homeowners
The rapid rise in pandemic-driven telework could make first-time homeownership most broadly accessible to black renters compared to other renters, based on factors including income, the makeup of local industries, geography and more, a November Zillow analysis suggests. Zillow research found that, of the nearly 2 million U.S. renters who are able to take advantage of heightened telework options and could afford monthly payments on homes in less-expensive areas outside of their current metros, Black renters benefit far more than other renters. In large metro areas where typical starter
Despite apology from Wells Fargo CEO, African Americans still face ‘uphill battle’ for respect
by Kaylan Ware On September 23, Wells Fargo CEO Charles Scharf apologized in a letter to his employees for comments made in a June 16 memo titled “Our commitment to change.” “While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of Black talent to recruit from with this specific experience,” Scharf said in the June 16 memo. He also repeated this sentiment during a company Zoom meeting. In the same memo, Scharf proposed to double the number of Black senior leaders
Women more likely to face housing insecurity in pandemic-led recession
The pandemic-led recession is disproportionately hurting women in the workforce and is more likely to threaten their housing security. A new Zillow analysis finds women are more likely than men to be unemployed, renters and caregivers during the coronavirus pandemic, thereby increasing their risk of becoming severely cost-burdened by housing. The pandemic has been a startling setback for women who had been narrowing the gender gap in recent years. At the beginning of the year, more women than ever before were in the workforce, incomes were rising along
Student Loan Debt Widens Racial Wealth Gap
NNPA NEWSWIRE — With the freeze placed on student loan repayments set to end Dec. 31, Biden has gotten behind the Democrat-led House’s HEROES Act, which calls on the federal government to pay off up to $10,000 in private, nonfederal student loans for economically distressed borrowers. “People having to make choices between paying their student loan and paying the rent … debt relief should be done immediately,” Biden stated during a news conference on Monday, November 16. By Stacy M. Brown, NNPA Newswire Senior National Correspondent President-elect Joe Biden