SheaMoisture Announces a $1MM Fund to Support Women of Color Entreprenuers & Small Businesses Impacted by COVID-19

SheaMoisture has just announced a new fund in order to help women of color entreprenuers and small businesses during this difficult time.

The fund is driven by the brand’s long-established Community Commerce business model and the core belief that commerce and reinvesting in communities the brand serves creates economic opportunities and economic independence.

The brand has always worked to empower women, transform communities and support purpose-driven businesses. Now more than ever, SheaMoisture is committed to this mission.

The grant and supportive measures will highlight the power of small businesses and how they help communities, while also minimizing the financial disruptions many are experiencing from the global outbreak.

Here’s how the first phase of the fund will work:

• SheaMoisture will engage influencers to create a social media campaign to help get the word out to businesses (starting April 1) and provide information on how they can submit for the initial $100K worth of grants that will be awarded.
• 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.
• Business owners must demonstrate how the award will be used to cover their costs and assist others.
• 10 businesses will be selected to each receive $10K.

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Dear Community, Our #SheaMoisture family sends love from our homes to yours! We stand ready to help. While much has changed in the world, we will continue to show up for our community, women of color, and small minority businesses during this time. Stay tuned for more details around our Community Commerce Fund we have developed to assist small businesses and the communities that they serve. #SheaFam, tag a business that could use a stimulus fund. With love, The #SheaMoisture Family. • To read the full letter visit @sundialfamily

A post shared by SheaMoisture (@sheamoisture) on Mar 30, 2020 at 4:20pm PDT

Additional elements of the program will follow:

• In partnership with We Buy Black (the largest marketplace for black-owned businesses) SheaMoisture will award relief funds throughout April to black-owned businesses, which are seeing the challenges they usually face being exacerbated by the crisis. The partnership will be branded the “Community Commerce Online Marketplace” on SheaMoisture’s Instagram account to allow the brand’s community to shop and supportthose businesses.
• The Women of Color Businesses E-Lab is a platform providing access to resources, mentorship, and advice on how to prepare for the economic downturn and how to plan for the recovery. This virtual series will feature speakers from Sundial Brands, Unilever, and its business community.
• Once a women of color entrepreneur completes the education series, she will be eligible to participate in a virtual competition to fund their economic recovery business plan.
• This is another effort that SheaMoisture has long led on, and is committed to accelerating and adapting to swiftly help those in need.

All of this is being led by the CEO of Sundial (SheaMoisture’s parent company) Cara Sabin who says, “During this unprecedented time of upheaval, small businesses are being disproportionately affected. For SheaMoisture, which was once a small business, the power of community and entrepreneurship is close to our hearts. Through this fund, we are committed to giving back to the communities that have helped us become who we are.”

SheaMoisture has always been there for its community and is proud to launch this effort when the support is needed most.

Content provided by SheaMoisture | Featured Image obtained from the official Instagram of SheaMoisture