SheaMoisture and its parent company Sundial have announced it will be giving $1M to small businesses impacted by the coronavirus pandemic.
The beauty brand is releasing the funds via its Community Commerce model which as long been providing support to businesses –particularly women — of color. Initially, $100,000 has been earmarked to provide $10K grants to 10 different businesses. Additional cash grants, along with access to e-learning labs will be distributed throughout the rest of the month.
“All minority small business owners and entrepreneurs of color (including restaurants, hospitality, grooming, entertainers, wellness instructors, etc.) who have the ability to convene communities online for good, or distribute goods door-to-door (or via e-commerce) are encouraged to apply,” wrote the brand in the press release.
The funds are part of a larger “series of initiatives to serve our communities indefinitely,” the brand added in a post on Instagram. Sundial and its founder Richelieu Dennis have been at the forefront of supporting Black-owned businesses — particularly women of color — for years. In 2018, it launched the New Voices Fund investing $100M in Black women-owned businesses. Richelieu also announced plans to turn the late hair icon Madam C.J. Walker’s former 20,000-square-foot home into an entrepreneurship hub. entrepreneurship hub.
Application information will be available within the coming weeks. Stay tuned for details.
The application process is now open. Small Black-owned and minority-owned businesses are encouraged to apply at SheaMoistureFund.com. Hurry! The deadline to apply is April 15 at 11:59pm EST.