Connect with us

Business and Finance

Mackenzie Scott Donates $10 Million to Small Business Nonprofit

Published

on

MacKenzie Scott


Mackenzie Scott continues to give her billions to good causes. The philanthropist has donated $10 million to a Georgia nonprofit that helps small businesses.

Access to Capital for Entrepreneurs (ACE) received a key funding round in August. The recent financial cushion allows the Georgia-based organization to fulfill its mission to help small businesses grow. Founder and CEO Grace Fricks spoke in regards to the large donation and the “social impact” that led to it.

“It’s a testament to the social impact of the work ACE does and does well,” Fricks said. Reported by “This will definitely take ACE to the next level.”

Advertisement

She added: “This came completely unexpectedly. We are proud of the accomplishments of each of our clients — more than 2,600 small business owners across Georgia who have received affordable ACE loans — and grateful for this recognition of the hard work of the ACE team.”

Frick, who will retire at the top of 2024, founded the nonprofit in 1997 to help rural people in north Georgia. But it has since expanded its operations to help minority entrepreneurs within the Atlanta metro area and beyond.

Since its inception, ACE has awarded $200 million in loans, 60% of which have gone to Black entrepreneurs. With capital, coaching, and connections in its mission, ACE initially it helps entrepreneurs of color, low-income business owners, and ladies business owners.

The initiative provides funding to reduce gender and racial wealth gaps. It also creates jobs and opportunities for its clients while increasing its financial support and partnering with local organizations.

Advertisement

With this recent funding, which is now available, ACE expects to help 1,500 small businesses in its five-year strategic plan. The money will help it on its way to lending $300 million to these businesses and providing 100,000 hours of business consulting services.

But this isn’t the primary time Scott has supported his endeavors. In 2020, ACE received $5 million from the philanthropist’s foundation to expand its services to Georgia business owners.

Scott continues to redistribute his wealth to a wide selection of institutions and organizations, including Atlanta-area HBCUs. The nonprofit will rejoice this 12 months’s efforts at its 2024 ACE Annual Gala on Sept. 19.


Advertisement
This article was originally published on : www.blackenterprise.com

Business and Finance

Edward Enninful introduces a new global company dealing with entertainment and entertainment

Published

on

By

Edward Enninful, a visionary flavor chargeable for among the most pushing boundaries in fashion and media, enters a new chapter with the launch of the EE72-global company dealing with the media and entertainment.

EE72 arrives at a time when the world requires a more authentic, diverse story. And who is best to reply this call than Enninin? Thanks to the profession defined by breaking the boundaries and establishing new standards, it now brings the identical energy to the company on the mission of making transformational content, engaging experiences and modern products that we query, as we see and mix with the world.

Advertisement

“EE72 is the natural progress of the foundation in which I built my career,” said Enninful in a press release. “We create a space in which creativity goes beyond the borders in which various voices do not exist,” lead. Our mission is to rework the best way we see and understand one another by constructing bridges in cultures and communities. “

Through strategic partnerships with visionary creators and groundbreaking corporations, EE72 hopes to press the story on the territory of unwavering. To help him, Enninful cooperates with his sister Akua, who acts as a co -founder and general director, while the previous British leader Vogue plays the role of a co -founder and creative director. Together, they’re able to cultivate a brand that doesn’t apply to aesthetics, but additionally in regards to the impact – narrative and representation is just not only a fashionable password, but a standard.

After creating history as the primary black editor British Vogue in 2017, Enninful gave technique to his role as to function a global creative and cultural advisor Vogue. Now, through the EE72, Enninful hopes to disturb traditional narratives and support significant connections between communities and culture through empathy, innovation and “the spirit of authentic telling stories and necessary creativity.”

“This is not just another media company; This is a completely new concept in which creativity knows no boundaries in which every voice matters and where our various aspirations are significantly reflected in told stories and life we ​​lead “, co -founder He signed an commercial on social media. “We create a revolutionary platform for combining, understanding and empathy through a lens of creativity.”

Advertisement
Angel Reese and Gabby Thomas present love between sport and fashion on the cover of Vogue

(Tagstotranslate) fashion

This article was originally published on : thegrio.com
Continue Reading

Business and Finance

Like the idea of ​​Trump on a reduction of federal income tax, it can affect your salaries

Published

on

By

taxes, Black people, taxes, refund, bill, owe


During the election campaign, President Donald Trump proposed a reduction in the federal income tax, while Experts revealed that this may occasionally affect your salary.

During the conversation at GOP dinner at home on January 27, Trump suggested that federal income tax ought to be “eliminated”, continuing to dancing around the idea of ​​issuing tariffs. “Instead of taxing our citizens to enrich foreign nations, we should be a tariff and taxation of foreign nations to enrich our citizens,” said Trump, stating that America was the richest in 1870–1913, when the tariffs were.

He still said that the income tax didn’t occur only in 1913. The idea caused controversy at each ends of the passage. The idea will bring a significant change in the country’s economic policy, but it can also affect the way of negotiating Americans, along with increasing income for a lot of employees. “This increase in income would have an impact on stimulating the economy, but at the expense of probably growing real inflation,” said Crystal Stanger, general director of the optical tax.

“Therefore, it is likely that although people would benefit for a short time, their salary will soon be worth less. So they will not bring long -term benefits at all. “

The proposal resulted in questions on the table about how the government would finance the vital services and programs. Stranger emphasized that the elimination of the federal income tax would depart less incentives for corporations to employ in low income districts, which can cause employers to employ. “That’s why we’ll probably see a faster transition to companies employing less lower employees abroad, wherever possible,” she said.

Advertisement

“Lack of (business) tax deductions and incentives would be a race to the bottom for the cheapest employees around the world. This would cause that it would be more difficult to hire or increases when others work for the cheaper ones. “

But that is not all is negative. Rick Miller, Rick Miller, Rick Miller, financial planner and investment advisor at Miller Investment Management, said that the plan can be restructuring the remuneration or renegotiations of already delivered compensation packages. “Employers would have maximum flexibility and creativity all over the arena of compensation,” said Miller.

“Labor seekers can take advantage of creative compensation plans and greater freedom to negotiate an attractive job offer on both sides.”
Democrats openly criticized this proposal because they predicted a domestic deficit that may lead to a trade war. Over $ 2 million is collected annually from income taxes. If it is eliminated, tariffs he would have to come back very high To adjust the number.

Advertisement

(Tagstotransate) house gop dinner

This article was originally published on : www.blackenterprise.com
Continue Reading

Business and Finance

Zirtue lends money to his family without hurting their relationships

Published

on

By

HBCU, Barbara-Scotia, Reaccreditation


Borrowing money to family members and friends may be uncomfortable. One of the challenges is that it shouldn’t be clear when the borrower repays you. The second pain is that the borrowed money was used for something aside from the borrower’s request. That is why Dennis Cail created Zirtue.

Zirtue to Loan application based on relationships Revolutionizing the way in which people borrow money from family and friends, while providing intact relationships for the vacations. Cail says Black company that his personal experience with his family inspired the appliance.

“Members of my family will lend money from me from me, and I achieved limited success in recovering this money,” he says. “I thought there should be an application that can help relieve this stress and burden of relationships when people are nice enough to help a loved one.”

Advertisement

Loans based on relationships work from Zirtue, because users borrow or borrow money from people they know. This shouldn’t be a crowdfunding application, and credit grades won’t make it difficult for users to borrow money. People who need money will put the quantity needed from their family or friends and establish their own loan terms. Borrowers must select what the bill is used for and add biller information. Family members or friends who accept the borrower’s loan terms can pay the bill directly Biller compared to the borrower.

Before borrowers are able to demand a loan, they have to connect a checking account or debit card. Zirtue develops the quantity that the borrowers agreed to pay the lender every month until the loan is fully repaid.

How Zirtue eliminates predatory loan practices

In addition to their personal experience lending money to family members, Cail witnessed how loan corporations feed in essentially the most sensitive communities.

“I grew up in public apartments with low income in Monroe, Louisiana,” says Cail. “In my area we didn’t have any banks, credit unions or fintech companies, but we had several liquor stores and pawnshops that would earn a 30% check.”

Advertisement

He says that it was the same scene to his childhood, when he left the ocean base after the boot camp, where they were lenders on pay day, buy, pay-he-he-he-he-he-hare fate and rent for their own furniture stores.

“She never sat with me well that the most underrated people who needed help the most were the most used,” he says. “At that moment it struck me (after leaving Bootcamp) that all predators of lenders attack every demographic group in which I was a part that is a minority, low income and military veterans.”

Predicine loan practices are the explanation why Cail has made sure that users don’t pay interest on loans. He also recognizes that individuals don’t all the time have a support network, which is why the corporate has just launched the Zirtue Foundation.

“The Foundation provides people with a subsidy to the account,” says Cail. “It’s for people who can’t find a friend or family member, but their lights will be turned off at midnight. We do it through our corporate partnerships and our Foundation partnerships. “

Advertisement

(Tagstranslat) own company black

This article was originally published on : www.blackenterprise.com
Continue Reading
Advertisement

OUR NEWSLETTER

Subscribe Us To Receive Our Latest News Directly In Your Inbox!

We don’t spam! Read our privacy policy for more info.

Trending