“We have to decide what we want our Main Streets to look like when this is over, and we must act decisively to keep small businesses alive and ready to rebuild.” – Accion Opportunity Fund CEO, Luz Urrutia
Small businesses are the heartbeat of the American economy. Every mom and pop shop, corner store, and new business venture is proof of the entrepreneurial spirit of the American people. However, entrepreneurial spirit is not always enough to get a new business off the ground.
Small business owners, especially minority owners, face a major challenge when trying to obtain affordable loans and the support they need to start their business. According to Rolling Stone, “Entrepreneurs of color are denied credit more often and charged higher rates for money they borrow to fund their businesses. We need to accelerate support to underserved businesses in order to reach our full potential.”
Accion, a money lending company, has teamed up with the leading non-profit business lender, the Opportunity Fund, to form The Accion Opportunity Fund. This fund seeks to set up a national microlending system specifically catered to small businesses.
When the pandemic hit the world, local businesses were some of the hardest hit by the quarantines and lockdowns. Just as there have been pushes by food delivery companies to order from local restaurants; the music industry has joined the cause by forming Small Business Live.
Small Business Live is a live stream musical experience put on to raise money in support of small businesses. All money donated goes directly to the Accion Opportunity Fund to help “provide grants for the most at-risk small businesses hit hardest by COVID-19, with a focus on those run by women and people of color.”
For this event, artists are paired up with a local business which will be the venue for their live-stream performance. Artists such as 2-Chainz, Brandi Carlile, and Leon Bridges have all agreed to participate, along with T-Pain and many more!
“This is a fun way to do something really important. Everyone’s support will make a huge difference to small business owners, their families and employees who have been devastated by this pandemic, the recession, and centuries of racism, xenophobia and oppression,” says Luz Urrutia.
Small Business Live is on June 20th from 4pm-10pm EST. You can watch the live stream on almost all social media platforms including Tik Tok, Youtube, Twitch, and Facebook. Hop on the stream and support the small business community!
