CHARLOTTE — A Black-owned venture capital firm, Black Pearl Global Investments, launched a micro loan program for local startup companies. Five businesses were recipients of the loan Monday.
The company is committed through local partnerships to investing up to $100,000 for businesses that might not qualify for conventional loans.
The loans will be given by deprioritizing factors, such as credit history and employment gaps. Black Pearl hopes to give entrepreneurs a fighting chance.
Recipient and business owner Rev. Vanessa Whitley said she’s creating a scholarship program for minority teens.
“I want them to take that education seriously and pursue it,” said Whitley, with Be Encouraged Christian Ministry.
Another local business owner receiving the grant said the opportunity will give her the capital to take her business to a new level.
Anita Dereen, the owner of Spa of Africa, said she wants to bring her practice of healing and wellness to the Black community.
Whitley said Black Pearl is celebrating their five-year anniversary this year.
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