Industry News – April 21, 2022

Pacific Community Ventures CDFI Offers 0% Loans to Bay Area Businesses

Pacific Community Ventures, an Oakland, CA based CDFI, is providing 0% loans to Bay Area businesses through its Oakland Restorative Fund. Currently 150 applicants, who own companies focused on retail, food service, construction, arts and entertainment, education, fitness, and technical services,have requested over $10 million dollars in funding. 100% of loan recipients are entrepreneurs of color and almost 70% are women-owned.

Source: Pacific Community Ventures

 

General Mills Investing $15 Million into Underserved Food Industry Entrepreneurs 

General Mills will invest $15 million into two women and minority-owned venture capital firms focused on underrepresented food entrepreneurs. The funds’ goal is to continue diversifying the food industry and expanding opportunities.  

Source: FoodBusiness.net 

 

JP Morgan Chase Gives $5 Million to Support Black and Latina Street Vendors 

JPMorgan Chase announced a three-year, $5 million commitment to support the Open Air Economy Collaborative, a partnership of local community organizations in Los Angeles, CA. The funds will help local Black and Latina street vendors strengthen their businesses, which provide economic opportunities for low-income and immigrant workers. 

Source: Precinct Reporter Group 

 

Midlife Entrepreneurs Finding Success with Their Own Businesses 

More entrepreneurs are starting their businesses after the age of 50. By using their previous work experience, and desire to try something new in their careers, many are finding success in their next chapter. 

Source: NextAvenue.org 

 

Building a Business App with No Coding Experience 

Many business owners may want to create a mobile app for their company, but don’t have coding experience or enough funds to hire a developer. One solution is to explore no-code app options that can provide a needed solution at zero or low cost. 

Source: Entrepreneur.com  

 

Cities and States Expand Grants Programs During the Summer 

Several new and existing grant programs for small businesses will continue accepting applications into the summer. These include programs based in North Carolina, South Carolina, and Virginia. 

Source: Small Business Trends