Thriving African-American Small Business Initiative 2/29/24
ELIGIBILITY | INELIGIBLE BUSINESSES | TIMELINE | PARTICIPANTS | QUESTIONS | APPLICATION
For over 18 years, United Way of Southeast Louisiana has offered matching funds to help entrepreneurs multiply their savings. In an effort to close the racial wealth gap and address the many barriers that small, Black-owned businesses have historically faced, UWSELA is excited to offer the Thriving African-American Small Business Initiative.
The program requires business owners to save $334 monthly over 6 months until $2,000 is saved. UWSELA matches the $2,000 in savings with $10,000 in grant money for a combined total of $12,000 for the business.
Participants engage in seven months of concentrated instruction designed to help them fine-tune their budgeting skills and improve their profits and viability. Workshops are held monthly at our J. Wayne Leonard and Northshore Prosperity Centers, and participants meet regularly with expert coaches and industry mentors to help grow their business acumen.
ELIGIBILITY REQUIREMENTS
To be eligible for the program, business owners must meet the following requirements:
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Business office within Jefferson, Orleans, Plaquemines, St. Bernard, St. Tammany, Tangipahoa or Washington parishes.
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51% Black owned and operated.
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In business since 2020.
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Annual revenue up to $200,000.
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In good standing and eligible to do business with the state of Louisiana.
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Filed 2022 and 2023 business taxes.
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For-profit microenterprise with five or fewer employees. (Note: The number of employees includes owner(s) and both part-time and full-time employees.)
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Member of one of the local chambers of commerce or must become a chamber member within the first 45 days of enrollment.
INELIGIBLE BUSINESSES
The following types of businesses are NOT eligible for the program:
- Adult entertainment
- Gaming
- Liquor stores
- Tobacco/VAPE stores
- Passive real estate investments
- Non-profit organizations
- Franchise businesses
- Cannabis
- Gig workers (Uber, Lyft, DoorDash, Instacart drivers, etc.)
2024 PROGRAM TIMELINE
| DATE | TIME | EVENT |
|---|---|---|
| 02/29 | 9:00 a.m. | Application Period Opens |
| 03/22 | 11:59 p.m. | DEADLINE TO APPLY |
| 05/01 | 4:30-6:30 p.m. | Workshops begin |
| 11/13 | TBD | Graduation |
QUESTIONS
For questions about this program, please email TAASB@UnitedWaySELA.org.
2023 THRIVING AFRICAN-AMERICAN SMALL BUSINESS INITIATIVE PARTICIPANTS
Participants in our inaugural TAASB program engaged in seven months of concentrated instruction designed to help them fine-tune their budgeting skills and improve their profits and viability. We host monthly workshops at our J. Wayne Leonard and Northshore Prosperity Centers, and participants meet regularly with coaches to grow their business acumen.
The program closed with a graduation ceremony that included Pitch It presentations, which allowed participants to practice selling their plans to a group of potential investors who would rate each pitch.