Juvia’s Position to Offer $50,000 Grants to Six Black-Owned Firms

To examine Juvia’s Position today — using its 2.4 million Instagram followers and coveted shelf space in Ulta — it might appear difficult to think founder Chichi Eburu began the cosmetics brand 
with, as she puts it, “only $2,000 plus a fantasy.” Nonetheless, it’s the first obstacles which produces Eburu and Juvia’s Place so well-suited to not just know the special challenges which startup Black-owned tiny companies face but to also assist them reach their own objectives.

Juvia’s Position has declared it will be giving away six $50,000 permits to Black entrepreneurs to provide them a better chance to conquer both the issues that lots of new and tiny companies face and the disparities especially Black-owned — and much more so, Black-woman-owned — companies cope with. 

“Based on SCORE, 44 percentage of Dark small business owners utilize money to finance their company when compared with the typical small business owner (37 percentage ),” Juvia’s Place said in a statement, describing that the hottest financing sources — such as a variety of kinds of loans — direct to amassing debt at high rates of interest. “Black girls in the U.S. are starting businesses at a faster speed (12 percent growth rate per year) compared to other groups (8% growth rate annually ). That having been said, the average annual revenue for Black female entrepreneurs is just $24,000 versus $142,900 to get non-Black female entrepreneurs. This gap in gross earnings is startling and speaks to a wide selection of systemic problems faced by these businesses.”

Here is how the program works: If you are a Black business operator, both you and your company are located from the U.S., along with your 2019 company gross income is $250,000 or not, you can qualify for one of the $50,000 grants. The program on the Juvia’s Position website will ask you to get many different creator and company advice, in addition to brief essay questions which will permit you to discuss the challenges you have faced, what motivates you, and how the money would help your company flourish. 

“I, like so many other people, did not have access to financing, or even a trust fund. My company had been assembled with minimal financial resources, but I had a supportive community to cut. That community service was essential for my business development. I discovered mentors and clients that thought in my merchandise and helped me to make my fantasy a reality,” Eburu stated in a statement. “I love the support and should ensure I will offer an chance to additional Black entrepreneurs that are seeking to cultivate their companies.”

Should you or somebody you know seems like a match for one of those grants, do not hesitate — that the program deadline is August 31. Go to juviasplace.com/pages/business-grant today for the electronic type and answers to FAQs.

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