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April 6, 2020

This $1 Million Relief Fund For Black-Owned Businesses is Real

SheaMoisture Fund founder and partners

SheaMoisture has announced, under its long-established Community Commerce business model, a $1 Million Fund to support entrepreneurs of color and small businesses. The grant intends to show the power of Black-owned businesses to help communities, while also hoping to minimize the financial disruptions that many are experiencing from the current global crisis.​
This is one of the largest corporate announcements of funds solely supporting minority and women of color business owners.

Richelieu Dennis, founder and CEO of SheaMoisture, knows that now more than ever, corporate social impact can be instrumental in community success. With the announcement of the Fund, they welcome the opportunity to work with partners and influencers as they launch a series of planned initiatives that we have begun to roll out. They likewise extend their support to any initiatives that other networks are currently executing during this time. They have rolled out the following three programs:

#1 - Unsung Business Fund For $100K

To kick off the first $100,000 of funding, they want to award small minority businesses that have been stepping up to support their communities during the recent COVID-19 crisis.

This cash award is intended to celebrate unsung businesses and help it keep doing the good work it's doing in the community.

#2 - Black Business Relief Fund

We Buy Black, in partnership with SheaMoisture, proposes to lead the effort to help shape the nation’s response to the COVID-19 pandemic, specific to the negative impact on black owned businesses. This will be done by providing business grants to We Buy Black’s top black businesses, which are in jeopardy of going bankrupt or closing.

#3 - Women of Color E-Lab

Under SheaMoisture's $1Million Community Commerce Fund, the brand will create an e-learning platform for women of color entrepreneurs to continue to gain education, access to resources, mentorship, and advice on how to prepare for the economic downturn.

The eLab will enable entrepreneurs to learn and chat with speakers from Sundial Brands and its business community, including Unilever, Dartmouth College Tuck School of Business, retail partners, and others who are creating tools to help manage what's now and next for small businesses.

For more details and/or to apply, visit SheaMoistureFund.com