Women’s Economic Ventures Obtains $ 50,000 Prize to Invest in Minority Workers and Entrepreneurs | Business
Posted on May 30, 2021
Women’s Economic Ventures (WEV) will receive $ 50,000 in funding to help minority entrepreneurs and 1,099 workers recover from the COVID-19 pandemic.
The grant, awarded by Kaiser Permanente, the country’s largest integrated nonprofit healthcare system and the National Association for Latino Community Asset Builders (NALCAB), will also provide technical assistance and training as part of the WEV’s work to provide culturally relevant support to low-income people. contractors and 1099 contractors of color.
âThe pandemic has been particularly difficult for minority and women-owned businesses,â said Kathy Odell, CEO of WEV. âWEV is extremely grateful for the opportunity to partner with NALCAB and Kaiser Permanente to provide much needed training and capital to minority-owned businesses in Ventura County.
“This innovative program will provide forgivable loans and targeted training to help them move forward with confidence and build successful and sustainable businesses.”
Through a competitive process, organizations from California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, and Washington, DC, were eligible to apply for grants of up to $ 60,000 administered by NALCAB.
The grants will support the resilience of entrepreneurs, including by more effectively adapting their business model to the constraints of public health guidance, and by helping to navigate and access federal, state and local governments, as well as philanthropic, emergency relief and business assistance resources.
Through its commitment to fostering economic opportunities for traditionally underserved communities, Kaiser Permanente has also allocated $ 15 million in grants to improve access to formal training, business networks and recovery and growth capital. to help Latino-led businesses and other groups overcome systemic economic disadvantage. .
“Knowing that the return to business as usual is still a long way off, it is urgent that small businesses and entrepreneurs of color who have suffered disproportionate financial setbacks during the pandemic receive help and assistance to maintain their vitality,” he said. said Stephanie Ledesma, Kaiser Permanente Acting Senior Vice President for Community Health Programs.
To learn more about women’s economic enterprises, visit www.wevonline.org.