FOR IMMEDIATE RELEASE
SAN FRANCISCO — The California Reinvestment Coalition will receive $50,000 in funding to assist minority entrepreneurs and 1099 workers as they recover from the COVID-19 pandemic. The grant, awarded by Kaiser Permanente, the nation’s largest integrated, nonprofit health system and NALCAB – the National Association for Latino Community Asset Builders, will also provide technical assistance and training as part of CRC’s work to provide culturally relevant support to low-wealth entrepreneurs and 1099 contract workers of color.
“Thanks to Kaiser Permanente’s and NALCAB’s generous support, we can expand our support to help entrepreneurs of color and micro-entrepreneurs who were undoubtedly crushed under the weight of the COVID pandemic,” said CRC Executive Director Paulina Gonzalez-Brito.
Through a competitive process, organizations in California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, and Washington, DC were eligible to apply for grants up to $60,000 administered by NALCAB. The grants will support resiliency among entrepreneurs, including adapting their business model more effectively to the constraints of public health guidance, and assistance in navigating and accessing federal, state and local government, as well as philanthropic, emergency relief and business assistance resources.
Through its commitment to foster economic opportunity for traditionally underserved communities, Kaiser Permanente has also designated $15 million in grants to increase access to formal training, business networks, and recovery and growth capital to help businesses led by Latinos and other groups to overcome systemic economic disadvantage.
“With the understanding that a return to ‘business as usual’ is still far off, it is urgent that the small businesses and entrepreneurs of color who have suffered disproportionate financial setbacks during the pandemic receive aid and assistance to maintain their vitality,” said Stephanie Ledesma, interim senior vice president for community health programs at Kaiser Permanente.
NALCAB – National Association for Latino Community Asset Builders – is the hub of a national network of more than 130 mission-driven organizations in 40 states, DC and Puerto Rico that that serve ethnically diverse Latino communities across the US. Members of the NALCAB Network invest in their communities by building affordable housing, addressing gentrification, supporting small business growth, and providing financial counseling on issues such as credit building and home ownership. Our mission is to strengthen the economy by advancing economic mobility in Latino communities. The NALCAB Network serves hundreds of thousands of low and moderate-income people, the vast majority of whom are immigrants or the children of immigrants.