Garlene Atcherson, Medic, Jacksonville, FL >
Our Impact: Breaking Financial Barriers for Black Business Owners
The Rise of Black Entrepreneurship in the U.S.
Entrepreneurship in the U.S. has reached historic levels, with 5.5 million new business applications filed in 2023 alone (U.S. Chamber of Commerce, 2024). Black entrepreneurs are a driving force in this growth, fostering job creation, economic expansion, and community development.
However, access to capital remains a major barrier, often limiting Black business owners from scaling, investing, and sustaining their businesses. Since 2020, we have deployed more than $40 million to over 1,800 Black-owned businesses, providing funding, financial coaching, and credit-building support to help them grow.
Breaking Down Barriers to Financial Access
Starting a business is one step—long-term growth requires financial stability. According to the U.S. Bureau of Labor Statistics (2024), only 34.7% of businesses formed in 2013 were still operational a decade later. Black business owners often face additional challenges, such as limited access to credit and systemic financial disparities.
We address these challenges by providing flexible funding solutions, credit-building programs, and financial coaching, ensuring that Black entrepreneurs have the support they need to build sustainable businesses.
Since 2020, we have deployed more than $40 million in funding, with an average loan size of $23,800. This capital has helped Black-owned businesses expand operations, hire employees, invest in inventory and equipment, and maintain cash flow.
Providing Financial Coaching and Technical Assistance
Beyond funding, we offer financial coaching and technical assistance to ensure that business owners make informed financial decisions.
Since 2020, we have conducted more than 1,350 coaching sessions for Black entrepreneurs, covering credit-building strategies, financial management, and loan application guidance.
By combining capital access with financial education, we empower Black entrepreneurs to navigate financial challenges, sustain their businesses, and achieve long-term success.
Building a Future of Opportunity
With more Black entrepreneurs starting businesses than ever before, we must ensure they have the resources to succeed and grow long term. Since 2020, we have:
- Deployed more than $40 million
- Funded nearly 1,900 Black-owned businesses
- Created and retained +7,600 jobs
- Provided 1,350+ financial coaching sessions
We remain committed to providing equitable access to capital, financial education, and sustainable business opportunities for Black entrepreneurs.
Join Us in Supporting Black Entrepreneurs
By investing in Black entrepreneurs, we are closing financial gaps and building a future of economic opportunity for all.
