Prosper invests more than $500,000 in 3 Birmingham, Alabama, organizations focused on advancing Black businesses
Prosper is investing $550,000 in three Birmingham-based organizations that were selected based on their innovation and sustainable strategies supporting Black businesses. (contributed)
Through the continuation of its Operation: Backing Black Businesses, Prosper is investing $550,000 in three Birmingham-based organizations. The organizations were selected based on their innovation and sustainable strategies via an intensive request for proposal (RFP) process vetted by industry experts over several months.
“The investments into these three organizations touch on the core of what Operation: Backing Black Businesses is all about,” said Dee Manyama, Prosper’s director of initiatives. “They are each led by members of the community who have been entrenched in this work for years with both proven and innovative solutions. They all support Birmingham’s target areas and demographics and are aligned on improving the lives and entrepreneurial experiences of real folks with real attainable dreams.
Selected organizations and entrepreneurial solutions include:
CREED63’s Solution: This is a robust plan to provide a cohort with intentional workshops to support early-stage entrepreneurs. PACE is a unique program that focuses on training business owners in understanding their businesses from a financial and legal perspective. The SMART certification brings credibility and shows business owners commitment to sustaining their business. Prosper investment: $250,000
Rebirth Community Corp.’s Solution: This is an extension of REBOOT, which is Rebirth’s wraparound technical assistance services provided to local business owners in the Black community. The cohort-based model served 200 businesses in 2022 and has been operating effectively with an emphasis on mental health, business development and financial services. Prosper investment: $190,000
Urban Impact’s Solution: This program was developed to reach young aspiring entrepreneurs to address the disparity in access to resources and education with building thriving businesses through creating strong foundations for minority youth that aren’t exposed to business concepts and the building blocks that it takes to develop these businesses. The effort will empower youth ages 15-19 to establish a strong foundation in business and equip them to be successful entrepreneurs and gain access to upward mobility. Prosper investment: $110,000
