
The ELEVATE MOVEMENT’s Direct Impact Dollars (DID) Initiative awarded its first six African-American business owners with funds donated by community member to help them grow their business.
The ELEVATE MOVEMENT, which kicked off a little over two years ago, is based upon Black empowerment across four specific Pillars: Money & Business; Love Relationships; Health, Wellness and Healing; and Personal Growth and Spiritual Development. The ELEVATE DID Initiative, which is part of the Money & Business Pillar, is a precedent-setting initiative that supports existing African-American businesses in growing and increasing capacity and cash flow by using leveraged, tax-deductible “direct impact dollars” contributed directly by the community and for the community.
In order to fund the initiative, the group solicited tax-deductible contributions from 50 members of the community, a community banking partner, and one organizational contributor – Team Child.
The recipients, all of whom received $3,075 in Direct Impact Dollars, are: Nichelle Alderson of Infinitely Well; Keith Asphy of Presidential Transportation; Kela Hall of KD Hall Communications; Delbert Richardson of Global Unspoken Truths; Lee Yusuf of Angel City Deli; and Theresa Hardy of Inspirational Workshops.
“We are pleased to announce our first cohort of African American business owners to receive these funds to help their business,” said Debrena Jackson-Gandy, one of the organizers of the ELEVATE MOVEMENT. “These funds will help these business owners grow their business by leveraging funds that come directly from the community.”
According to Jackson-Gandy, the DID’s are not loans, but are repayable awards that enable a second cycle of DID awards to occur. In addition, the recipients will participate in a 2-part business development workshop, led by seasoned, successful African-American business owners, and then receive their repayable award dollars.
To get more information about the initiative or to become a community contributor please visit www.NWILC-org/did-initiative.