News — black businesses

Black in Business: Woman Becomes First Black Owner Of An Outback Steakhouse In Detroit After Starting As A Server
Gretta Jackson took a job as a part-time server job at an Outback in Southfield almost two decades ago to put some extra money in her pocket. She worked her way up to become the first Black woman in the Detroit area to own her own location.
She announced the news on her Facebook page:























Jackson can now say she’s the managing partner of an Outback Steakhouse restaurant in Roseville.
After posting to her social media page, Jackson told Fox 2 Detroit how people randomly stopped by the restaurant to show her support.
“What started off as what I thought was just a simple post to celebrate a milestone in my life quickly turned into something else,” she said. “I could never imagined so many people would come to say hi and thank you and congratulations to me in person. I’ve had people send gifts, flowers, Edible Arrangements to the restaurant for me. Just an overwhelming amount of love and support.”

Black in Business: These Two Entrepreneurs Are Raising $200m To Purchase A Bank To Serve Underbanked Communities
The majority of Blacks and other minority groups are underserved and underbanked in America. The situation has been attributed to the fact that few banks operate in Black communities. The Federal Deposit Insurance Corporation (FDIC) in a report noted that Black and Hispanic households are more likely to be unbanked or underbanked.
It found that more than 15 million colored people did not use America’s formal banking system in a survey published in 2015. However, according to the Center for Financial Services Innovation, underserved people in 2016 spent $173 billion in interest and fees.
Two Black entrepreneurs have set out to address this challenge. Darnell Parker, founder of Ingenious Financial, and Derek Taylor, Chief Operating Officer of Ingenious Financial, have announced plans to raise $200 million to purchase an existing bank to serve underserved and underbanked communities.
Parker and Taylor say the rationale for wanting to purchase an existing bank is to avoid the strict regulations and other challenges that come with starting a bank from scratch.
“When larger financial institutions absorbed some of the minority deposit institutions banks, they left a tremendous void for these banks, who previously served minority communities by providing small to medium-sized business loans,” Parker says.
Minority banks have long been considered innovators in the banking industry, Parker says, adding that they play a significant role in the economic empowerment of minority groups. “But in recent years, they have not always managed to keep up with technological advances,” he said.
The new acquisition will be named Bank of Ingenious and its primary focus will be on supporting underserved retail and business customers who need loans, specifically targeting independent physicians, dentists, veterinarians and similar professional services providers.
Additional details of the bank’s operation include operating with a small physical presence and setting up branches at institutions that are needed. Its operations will also be migrated online to meet current demands and dynamics.
Parker and Taylor plan to complete the acquisition of their first bank by the end of the third quarter and acquire more in the fourth quarter and in 2021. So far, they are meeting prospective targets and are looking for a bank within a metropolitan area with between $50 million and $600 million in assets.
“We hope that this investment will sustain African American financial institutions in the American history, foster popular, engaging workflows, and bring innovation to every client, customer and community we serve,” Parker says.

Feature News: From Employee To Youngest Black Franchise Owner At Chick-Fil-A
Ashley Lamothe started working at Chick-Fil-A when she was 15 years old in her hometown of Atlanta so as to save money to buy a car and go to college. The young entrepreneur continued to work at the restaurant chain as a director on the leadership team while at Spelman College.
Lamothe later rose through the ranks to become a franchise owner. She first opened a Chick-Fil-A location in Los Angeles in 2011 at age of 26, making her the youngest franchise owner in Chick-Fil-A history. She opened a second location six years later in downtown Los Angeles.
Lamothe achieved success through hard work. She recalls balancing her entrepreneurial journey with academics. She is grateful to her operator for giving her a flexible schedule that allowed her to school and engage in extracurricular activities.
“Chick-Fil-A has been part of my life,” Lamothe told Rolling Out. She said being a franchise owner does not make her feel she is making history. “That said, it’s really cool that so many people have been inspired by my journey and that feels like a huge honor,” she said.
In college, Lamothe changed her major to economics as her aim was to own a Chick-Fil-A restaurant. The course change was to afford her the opportunity to know how the market plays out and have a fair understanding of economic fundamentals.
When she launched her second Chick-Fil-A restaurant in 2018, Lamothe felt great that everything she labored for was yielding fruit. “I love the diversity of downtown LA; there is something for everyone. I’m excited to bring the unique hospitality that we offer in a fast, casual environment,” she said.
The young entrepreneur said in an interview after the launch that she is motivated by the fact that she has 85 people on her payroll. “The responsibility I owe to them to help them reach their goals and dreams keeps me motivated,” she said.
Every successful entrepreneur goes through a period of challenges. Lamothe is quite familiar with this as an entrepreneur. Recruiting, hiring and retention have been really challenging, nonetheless, she believes building a culture inside the restaurant has helped her to keep a consistent, happy and engaged staff.
For others who aspire to be franchise owners, Lamothe said the first thing to do is to gain experience at a local restaurant. “A lot of people say they want to own a franchise but have never worked in a restaurant. It’s hard, hands-on work and you really have to know what you are getting into,” she said.

Black in Business: First Black-Owned Mutual Fund Secures $200 Million To Launch ‘Project Black’
Ariel Investments, the first black-owned mutual fund firm in the nation, announced the launch of Ariel Alternatives and the Project Black initiative.
The firm is stepping into the private fund business with a $200 million commitment from JPMorgan Chase. Led by Ariel Investments co-CEO Mellody Hobson and global investment manager Leslie A Brun, the fund seeks to invest and scale minority-owned businesses to close the racial wealth gap.
“It is no secret that the racial wealth gap in America continues to widen, day by day, says Brun in a release. “While we have been encouraged and inspired by the supply chain diversity commitments recently made by large corporations, we believe that it is time to accelerate these promises with real, measurable steps. Our work will aim to bring operational excellence, financial resources, minority ownership, and leadership to these companies.”
Introducing Ariel Alternatives ‘Project Black’ Initiative
Founded in 1983 by John W. Rogers, Jr., Ariel Investments has grown to manage $15 billion in assets by leveraging a patient investment philosophy. Now, the company is embarking on a new journey through the establishment of its private asset management firm, Ariel Alternatives.
The firms’ first mission: Project Black. The goal is to invest and scale minority-owned businesses that can become leading suppliers to Fortune 500 companies. The project will focus on suppliers to various industries, including transportation, technology manufacturing, and media and marketing,
Project Black Vision
According to a release, Project Black will invest in middle-market companies that are not currently minority-owned. The entities will be transformed into certified minority business enterprises, as well as existing Black and Latinx-owned businesses. The team hopes that Project Black will “forge a new class of Black and Latinx entrepreneurs” and support supply chain diversity goals.
These goals will have a trickle-down effect, boosting economic activity, increasing jobs, and providing access to opportunities for underrepresented populations at all levels. Ultimately, the project will play an instrumental role in closing the racial wealth gap.
“Through Project Black, we plan to ultimately disperse opportunity throughout underrepresented communities. We want to change the narrative and foster true action and demonstrable change,” says Ariel’s co-CEO Mellody Hobson, in the release.
JPMorgan Chase Provides Initial Funding
According to the Chicago Tribune, Project Black was born from a conversation between JPMorgan CEO and Hobson. In 2018, JPMorgan Chase elected Hobson to its board of directors. Dimon and Hobson discussed ways to promote minority-owned businesses and the new fund was created.
JPMorgan is supporting the efforts of Project Black by providing $200 million in initial funding. This investment is part of the firm’s goals to advance racial equity. In October, the firm announced a $30 billion commitment. Over the next five years, this capital will provide economic opportunities to underserved communities.
“Systemic racism is a tragic part of America’s history,” said Dimon in a statement. “We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latinx people. It’s long past time that society addresses racial inequities in a more tangible, meaningful way.”

Feature News: Morgan Stanley Announces Its Fifth Cohort Of The Multicultural Innovation Lab
Morgan Stanley has announced 11 startups for its fifth cohort of the Multicultural Innovation Lab, including seven companies run by Black founders.
The Lab is an accelerator program for technology and technology-enabled startups in the post-seed to Series B funding rounds.
Now in its fifth year with 43 participating companies, the program targets startups with a multicultural or woman founder, co‐founder, CTO, or other C-suite member developing innovative solutions across sectors.
“Our survey found that during 2020, progress was made in venture capitalists’ attitudes and actions regarding the importance of investing in women and multicultural entrepreneurs, but a lot more needs to be done to close the funding gap for this group,” stated Carla Harris, Vice Chairman of Morgan Stanley and Head of the Multicultural Client Strategy Group.
“The goal of the Multicultural Innovation Lab is to provide diverse founders with much-needed access to investors—along with the tools, resources, and connections they need to grow and thrive—in order to transform the investing landscape.”
Simultaneously, Morgan Stanley reported it is expanding the Lab this year by adding a second summer cohort. The firm plans to keep leveraging its global reach, content, and connections to hasten the growth of these companies and address the funding gap for multicultural and women-led startups.
The 2021 winter cohort was selected from more than 700 applicants globally. Seven of the newest companies have Black founders. They include ABF Creative, Abode, Fashion Bomb Daily Shop, Kanarys, Second Keys, Lillii RNB, and Zirtue. The remaining founders in the cohort are women or from other racial groups. The companies are in sectors like fintech, edtech, e-commerce, social networking, medtech, retail tech, and enterprise software.
Alice Vilma, Managing Director and Co-Head of the Multicultural Innovation Lab, told Black Enterprise by email why the imitative is important. She says Morgan Stanley is committed to supporting women and multicultural entrepreneurs by addressing the funding gap they still face in today’s economy.
“Investors are missing an opportunity to prioritize strategies that diversify their portfolios, so I am pleased we are able to expand our reach to support additional founders who are not receiving adequate funding for their companies,” she says.
“We work hard to help identify, develop and execute commercial opportunities in the multicultural business segment with the mission of increasing access to capital for women and multicultural entrepreneurs. By highlighting these great companies with women and multicultural founders through the MCIL, we are, in effect, widening the lens and allowing investors to see a broader range of companies they can invest in.”
She also reflected on enlarging the program. “We are thrilled to be expanding our Lab, increasing the amount of talented, diverse entrepreneurs that we will support on their journey to success.”
The Multicultural Innovation Lab (MCIL) is an intensive five-month accelerator geared to help further develop and scale startup. Morgan Stanley reports it launched MCIL in 2017 to address inequities in funding of multicultural and women-led startups, which its research shows equals over $4 trillion in unrealized returns.

Black in Business: Jay-Z sells 50 percent of his Champagne brand to luxury giant LVMH
Jay-Z has sold half of his Champagne brand Armand de Brignac to Moët Hennessy, the luxury wines and spirits division of luxury giant LVMH. The acquisition was through a partnership with the rap legend which is anchored on equal stake and a global distribution agreement.
“The 50%-50% structure is an essential element of this alliance and ensures that each of the two partners wants to bring its strengths and expertise,” Moet Hennessy announced in a statement.
According to CNN, the deal comes at a time when LVMH, which owns Moët Hennessy, is working to reach out to diverse customers in the wake of racial criticism against top industry players. In the statement, Moët Hennessy said Armand de Brignac appeals to a global and diverse luxury consumer.
The deal also comes at a time when the coronavirus pandemic has affected the sale of Champagnes due to reduced parties and events across the world. According to CNN, Champagne shipment fell 18% in 2020 compared to 2019. And according to CNBC, this translates into some $1.2 billion of revenue loss.
Armand de Brignac, sometimes referred to as “Ace of Spades”, is popular in North America, Asia, and Europe, with over 500 000 bottles sold in 2019.
“Today, we are incredibly proud to be partnering with them and believe that the combination of our Champagne experience and international network coupled with Shawn JAY-Z Carter’s vision, the strength of the Armand de Brignac brand and quality of its range of prestige cuvées will allow us to take the business to new heights across the world,” said Philippe Schaus, President & CEO of Moët Hennessy.
Neither side disclosed the amount involved in the deal, but Jay-Z intimated on a rap verse on What’s Free by Meek Mill that Armand de Brignac was valued in 2018 at $250 million.
“It is a partnership that has felt familiar the entire time. We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further,” Jay-Z said.
The rapper revealed in an interview with CNBC that the deal was started in 2019 when he hosted a lunch at his house for Bernard Arnault, LVMH’s founder and chairman, and Alexandre Arnault. “It just started out in a place of respect and built from there pretty quickly,” he said.
Jay-Z’s first connection with a Champagne brand was Cristal in 2016. He fell out with the company after its CEO made some racial remarks in an interview with The Economist. That same year, he bought 50% stake in Armand de Brignac with a partner. He later acquired the remaining stake.

Black in Business: Former NBA Player Chris Webber Partners With Jw Asset Management To Launch $100 Million Cannabis Equity Fund
Former NBA player and entrepreneur Chris Webber has announced that he is launching a $100 million private equity cannabis fund in partnership with Jason Wild and JW Asset Management L.L.C. (“JW”). This fund will invest in companies that are led by entrepreneurs of color who are pursuing careers in the cannabis sector.
“As our country moves closer to federal legalization, I believe it is more important than ever to empower the next generation of cannabis leaders in a tangible way,” said Webber in a written statement. “I’m thrilled to team up with Jason on this endeavor—he’s a visionary in this industry and understands the urgency of supporting minority business leaders in this space.”
The collaboration between Webber’s Webber Wellness and Wild’s JW Asset Management will work to invest in underrepresented entrepreneurs in the cannabis industry. The partnership will provide them with an ecosystem of resources for the businesses that will facilitate research and development (R&D), cultivation, retail licensing, distribution, branding, and marketing. JW has been actively investing in the cannabis industry since 2014 with more than $2 billion in assets under management. They have also invested in numerous industry leaders spanning multistate operators, technology, and retail companies.
“It’s crucial that we diversify leadership within the cannabis industry and level the playing field for people from our communities,” said Webber. “For far too long, minorities have been excessively punished and incarcerated for cannabis while others profited. Working with JW, we will equip underrepresented entrepreneurs with the financial resources and industry knowledge to build businesses and thrive.”
“The legal cannabis industry can only grow to its full potential when all stakeholders have a seat at the table, and I feel that it is my responsibility to play an active role in eliminating barriers to entry for individuals that have been disproportionately targeted by the War on Drugs,” said Wild, founder and chief investment officer of JW Asset Management. “I look forward to partnering with Chris and his team to elevate talented entrepreneurs and build a more inclusive industry.”

African Development: Kenyan Insurtech Startup Is Eyeing Asia And Latin America After Raising $6m Funding
Access to capital and insurance are some of the factors affecting not only peasant farmers but commercial farmers in Africa. A large majority of farmers in Africa still use hoe and cutlass and farm largely to feed their households and sell the surplus for cash.
This makes private capital injection into the sector unattractive. Aside from that, the sector remains unattractive to a large majority of educated African youths, despite the sector being the second-largest employer, after the services sector, in Africa.
In Ghana, the government launched an agriculture program called Planting for Food and Jobs to increase youth participation in agriculture through the provision of subsidized fertilizers and other incentives but the flow of rural folks to urban areas for jobs suggests the program is not achieving its intended purpose.
For rural farmers, part of the reasons for migrating to urban centers is to work menial jobs so as to accumulate some capital to serve as insurance for crop failure which could be occasioned by flood, poor weather conditions, among others.
The risks African farmers face have widely been documented but steps taken by African governments to assist them remain lackadaisical. An insurtech startup called Pula is providing small-scale farmers with assistance to help them mitigate hard farming conditions.
The company specializes in digital and agricultural insurance to derisk millions of smallholder farmers across Africa. It recently closed a Series A investment of $6 million led by Pan-African early-stage venture capital firm, TLcom Capital, with participation from nonprofit Women’s World Banking.
According to Techcrunch, the raise comes after Pula closed $1 million in seed investment from Rocher Participations with support from Accion Venture Lab, Omidyar Network and several angel investors in 2018.
The new financing will scale up operations in its existing 13 markets across Africa, where it has insured over 4.3 million farmers. They include Senegal, Ghana, Mali, Nigeria, Ethiopia, Madagascar, Tanzania, Kenya, Rwanda, Uganda, Zambia, Malawi and Mozambique, Techcrunch reported.
Founded in 2015 by Rose Goslinga and Thomas Njeru, the Kenyan agricultural insurance company is now looking at expanding to Asia and Latin America. The startup has an average subscription of $4 for farmers in Africa.
“We are able to work in 13 countries not because we have insurance licenses in all these countries but because in every one of those countries there are insurance companies that are willing if enabled by a company like ours,” co-founder Goslinga told.
Pula’s expansion to Asia and Latin America will focus on countries such as Philippines, Thailand, Turkey, and Pakistan. “What we’ve realized is that African solutions are in no way inferior to Asian, European solutions,” said Goslinga.

Feature News: This Man Left His Corporate Job Of 12 Yrs To Create The First Black-Owned Cereal
During the nationwide protests following the murder of George Floyd, Nic King thought hard about how Black voices could be amplified. Multiple publications have underscored the fact that the Black community has been underinvested and Black businesses struggle to raise venture funding to expand their operations.
King recalls on the Kelly Clarkson Show that he was emotionally charged, just like the majority of the protestors who took to the streets to protest Floyd’s unjust killing. In the midst of the chaos, that was how King got a business idea to found a cereal company called Proud Puff cereals, a vegan, gluten-free chocolate-flavored cereal that comes in the shape of a Black fist. He had left his corporate job of 12 years.
“It came to me through divine inspiration,” King said. “Summer of 2020 during the George Floyd protests, just like very one else, the world looked emotionally charged, I couldn’t sleep it was 3am and it was like someone whispered to me, it sound bizarre but I woke up and I thought Cereal company.
“Just like everybody else my age, I grabbed my phone and I am scrolling through social media and there was a lot of anger, a lot of sadness we’ve seen a lot of protest but there was also company initiatives, going forward how they are going to amplify black voices as well as ensure diversity, inclusion and equity.
“So I just Google Black owned cereal thinking it has to be there. And to my surprise, it wasn’t there and from there I was like wow this is my opportunity not to just wait for the change to happen but to actually be the change,” he said.
King touts his business as the first Black-owned cereal in America. According to him, since he launched his cereal the feedback has been overwhelming. Despite the early signs of promise, the Black entrepreneur notes that there are still hurdles to overcome, one being large production to meet growing demands and putting his cereal on grocery shelves.
“I’ve been reaching out to these brands, but I haven’t received any feedback. I guess it’s because I’m the new guy in town. So, I understand that. But, I’m focusing on [my] brand, just building with my community,” he said.
With Proud Puff, King is not only looking at creating jobs but also wants to showcase Black greatness. He decided to put his family on the cereal box. On the side of the box, he lists 20 influential Blacks across every sphere.
King is currently working on more cereal concepts and building up his brand despite the pandemic. “There’s a lot of systems that come to play. I have to get tested first before I can go to the office or the distribution facility. It’s definitely slowed down a bit, forcing me to go online a lot more. But, I’ve been building, and cultivating what I need to do organically to make the business rise,” he said.
Starting Proud Puff cereal was not King’s first attempt at entrepreneurship. He previously attempted launching a clothing line but was not successful.

Black Development: Meet The Black Father Who Designed A Diaper Bag Brand Just For Dads
As traditional gender roles continue to shift, more fathers are stepping in to assume full-time parenting roles outside of their jobs. However, many baby products have not changed their models to accommodate hands-on dads. Frustrated with the limited options, one Black father decided to fill this gap by creating a brand of diaper bags designed just for men.
Kwame White is the founder and CEO of W.S.E.L Bags, a modern diaper bag designed for full-time dads on the go. White came up with the idea after looking for a bag to carry while he was taking care of his son Kobe. That is when he realized that most of the products he saw were designed to appeal to mothers.
“I think it’s great that women have lots of options,” said White in an interview with via email. “But in 2021, it’s past time for fathers to have great options as well. I wanted to create diaper bags for dads to let fathers know that they are valued too.”
The brand currently carries three different styles in their online store—the Kobe Expandable, Jett, and Jaden. White hopes that the brand will help put a spotlight on fathers who play an active role in their children’s lives and upbringing.
“Traditionally, men worked and women stayed home with the children. Those days are long gone. Both fathers and mothers balance work and family life,” he said. “More than ever, fathers are actively involved within every area of their children’s lives. Many fathers choose jobs or start businesses specifically so they can spend more time with their family.”
White says one of the company’s goals is to help change the negative narrative of absentee Black fathers. Another way he is challenging that stereotype is by hosting fatherly strolls which encourages Black men to connect and fellowship while pushing their little ones in the strollers.

Black in Business: Jay-Z Teams Up With Twitter Ceo To Invest $23 Million In Bitcoin Fund
Tech investor Shawn “Jay-Z” Carter and Twitter CEO Jack Dorsey are on a mission to make bitcoin (BTC) the internet’s currency. The two billionaires are investing 500 bitcoin into a new endowment called ₿trust. With the rapid rise of bitcoin in the last few weeks, the 500 bitcoin investment is currently worth over $23 million.
Dorsey shared the news on Twitter Friday, announcing that the investment would be used to fund bitcoin development in Africa and India. He noted that the endowment will be set up as a “blind irrevocable trust” and have “zero direction” from himself and Jay-Z.
The duo is searching for three board members to help oversee the endowment. Dorsey shared a board member application with three simple inputs: email address, name, and proof of work.
Two Investors Join Forces
Jay-Z is widely known as a music mogul but he’s no stranger to the investing scene. He’s the co-founder of Marcy Venture Partners, a venture capital firm focused on consumer brands. Last year, the company raised $85 million and had already invested in six companies.
Since 2015, Dorsey has served as the CEO of both Twitter and Square. A few months ago, Square invested $50 million in Bitcoin. The company believes that cryptocurrency is “an instrument of economic empowerment and provides a way to participate in a global monetary system”.
What is Bitcoin?
Founded in 2009, bitcoin is the world’s first decentralized cryptocurrency. It is also the largest cryptocurrency in the world based on market capitalization. Bitcoin provides an efficient and cost-effective way to make financial transactions.
Proponents of bitcoin favor this digital currency because it works without the use of intermediaries like banks and governments. This is all powered by blockchain — a powerful piece of technology that allows uses to exchange value on a public ledger. Many believe that blockchain has the power to transform the world.
Bitcoin is Gaining More Attention
According to CNBC, Tesla bought $1.5 billion worth of bitcoin and plans to accept it as a payment method. This week, Mastercard announced that it would start supporting a select group of cryptocurrencies on their network.
Major investors have already started jumping on the cryptocurrency train. Top investors Paul Tudor Jones and Stanley Druckenmiller are investing in cryptocurrency to protect their portfolio against inflation.

Black in Business: Kerin John’s Online Platform Is Making It Easier To Find Black-Owned Businesses In Toronto
Several factors affect Black businesses. The common factors known among many people are access to capital and racism. Various publications have reported Black businesses having access to less than 9% of venture funding. Many Black businesses are also relatively unknown because they do not have the capital to expand their operations or run ads.
Meanwhile, Google trends show global searches for ‘Black-owned’ jumped from late May to June of 2020. It has fallen since then but has remained at a higher level than during the 10 years prior.
To promote Black businesses in a sustainable way, a Canadian entrepreneur has launched an online store and database to help people easily find Black-owned businesses in the city of Toronto. Founded by Kerin John, Black Owned Toronto allows Black businesses to enlist for the purposes of business promotion.
“I found I wasn’t putting enough money in my own community,” John told Daily Hive. “Many Black-owned businesses don’t have storefronts—they’re home-based chefs, bakers, clothing designers, in e-commerce—so when you google search or Google maps it, not a lot comes up.”
“I decided to make it a passion project, by contacting people and asking if they knew anyone I could put on the page.”
John first started promoting Black businesses using her Instagram page and she decided to push her initiative higher by founding Black Owned Toronto. John believes her new venture would be a better way for people to find Black businesses instead of just scrolling her Instagram page.
“Wherever you are in Canada, you’ll be able to go on the website and find what’s around you that’s Black-owned,” John told CBC. So far, she has over 20 companies listed and hopes to increase her capacity to about 1,000 companies listing.
John’s page came to light after many people began searching for Black businesses to support following the murder of George Floyd. The period saw her Instagram following rise to about 75,000.
One of the businesses that have listed on Black Owned Toronto is Chantelle Lewis-Walters, the founder of Melanin Martha, a lifestyle store that provides witty Caribbean-inspired kitchen towels, drinkware, socks among others. Lewis-Walters said she was able to see a 300% increase in her business sales and a 20% increase in her social media following.
“More importantly, I was able to see the need to continue to keep sharing my business and represent my culture proudly,” she told Daily Hive.
It costs business owners $50 to join Black Owned Canada. However, according to John, the challenge now is to sustain interest in Black businesses. She is nonetheless optimistic that her venture will help Black-owned businesses to overcome their financial challenges.