Wish recently launched a $2 million fund to support black businesses

Wish, a fast-growing global e-commerce platform just announced its new funding program which will make $2 million available in cash to support black-owned businesses across the United States.

Businesses owners that are eligible for this funding can apply for grants between $500 and $200 to help revitalize and rebuild their businesses. The funds are to be used to cover a wide range of business needs including operating costs, inventory, marketing, and workforce.

“This is something we’ve wanted to do for some time but the COVID-19 pandemic crisis and the Black Lives Matter movement has really fast-tracked our mission,” said vice president of experience at the Wish Hassan Yahya. “The Wish Local Empowerment Program provides a starting point for us to support independent, Black-owned businesses that are often denied government aid and lack other financial resources to fall back on.”

The Wish funding program comes as many other organizations, groups, and individuals come together to support black businesses which are the hardest-hit by the coronavirus pandemic. Now more than ever, many there has been great resistance to systemic racism and racial disparities which created a wide wealth gap between whites and blacks. Through funding programs and investment more organizations and individuals are helping to close up the racial wealth gap in black communities across the U.S.

The fund financed by Wish Local, a partnership program between Wish and a network of brick-and-mortar retail stores across the globe. All small black business owners can apply for the grant as long as they meet the requirements, which are:

·        100% Black-owned or majority Black-owned

·        Must own a brick-and-mortar store anywhere within the U.S.

·        At most 20 full-time employees

·        Annual revenue of less than $1 million

“By joining the Wish Local network, we can help Black-owned businesses tap into the growing demand for e-commerce, as well as diversify their core revenue streams. We really hope we can make a difference and create a lasting impact on the equality and diversity of U.S. businesses,” Yahya said.

Wish has also partnered with other financial organizations including Long Island African American Chamber of Commerce (LIAACC) and Official Black Wall Street to help promote the program within their networks.

For more information, and to apply for the grant visit the Wish website @ www.wish.com/local/empowerment and Download the Wish Local app or follow the firm on social media @WishLocal on Twitter, Instagram, Facebook, and YouTube.