Financial support will be available to Black-owned businesses through a new grant program created by Juvia’s Place.
On August 14, the popular makeup brand founded by Chichi Eburu announced that the initiative will award six $50,000 grants in hopes of eradicating the challenges faced by Black entrepreneurs, including debt, which the brand says can kill a business before it can even get started.
And Black women entrepreneurs, who are starting businesses faster than any other demographic group, face even greater challenges.
Eburu, who established the company in 2014 with $2,000, said that as a Black-owned business owner, she understands firsthand the financial obstacles Black entrepreneurs face.
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“I, like so many others, didn’t have access to lending or a trust fund. My business was built with minimal financial resources, but I had a supportive community to lean on,” said Eburu. “That community support was essential to my business growth. I found mentors and customers that believed in my product and helped to make my dream a reality.” And she wants to make sure that she provides an opportunity for other Black entrepreneurs to grow their businesses.
The deadline to apply for the brand’s Black-Owned Business Grant is August 31. For more information, visit juviasplace.com/pages/business-grant.