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NAACP Stimulus Fund Aids 20 Black-Owned Businesses

Nonprofit hopes to continue working with local merchants

Published on Wednesday, December 30, 2020 | 9:36 am
 
“We wanted to first draw awareness to Black businesses and entrepreneurs locally by using our platform and second for the owners, give a nod of hope for them to hold on,” a NAACP official said. No recipients of the program have yet been publicly named. (Photo by Shutterstock)

The NAACP Stimulus Fund has awarded $2,000 checks to 20 Black-owned businesses, according to a press release.

“After George Floyd and the devastating effects, we could see we could see what was happening in our community to our local Black businesses and entrepreneurs,” said Florence Annang, who chairs the NAACP Stimulus Fund Committee. 

“Many were being denied the PPE loans and were struggling,” Annang said. “We decided at our finance committee in August after the protests it was time to invest by raising funds as a branch. We wanted to first draw awareness to black businesses and entrepreneurs locally by using our platform and second for the owners, give a nod of hope for them to hold on.”

According to VOX, of the 14% of businesses that chose to identify race in their loan application, Black-owned businesses received 1.9% of loans while white-owned businesses received 83%.

Floyd was killed on May 25 in Minneapolis when a police officer placed his knee on his neck for nearly eight minutes. Other officers at the scene saw what was happening but did not intervene, even though Floyd said he could not breathe. Floyd’s death set off days of protests in Minneapolis and other American cities, including Pasadena. 

The incident involving Floyd led the Pasadena City Council to approve the formation of a police civilian oversight commission. 

“Our committee has been inundated with businesses and entrepreneurs applying. It’s our goal into 2021 to continue with financial help for every sector of our community,” said Annang.

“As we go into  2021 our statement remains the same, ‘We are stronger together.’”

The committee is still seeking donations. To donate, visit http://naacppasadena.org/stimulus-program-donation/?link_id=3&can_id=524f9be176029f02c18ceb3ef5c9ff05&source=email-support-local-small-businesses&email_referrer=email_1027176&email_subject=20-businesses-in-2020

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