Black-owned nonprofit, Moms As Entrepreneurs (MAE), is making this Mother’s Day special despite the pandemic. The Baltimore-based incubator announced the launch of its Moms Give Community Fund — via Instagram — to help support and aid mom-owned businesses during the outbreak.
The fast-growing organization is headed by two mom entrepreneurs — Dr. Tammira Lucas and Jasmine Simms — who are passionate about providing the necessary tools for moms to thrive in business, especially now during the COVID-19 pandemic.
“Experts estimate that up to 90% of businesses owned by women and people of color have been, or will likely be, shut out of the Federal Paycheck Protection Program. We understand the disparities that moms, especially moms of color, are dealing with as they continue to maintain their businesses during COVID-19,” Lucas told Black Enterprise.
With federal COVID-19 relief funds going to established businesses, the founders of MAE took matters into their own hands and stepped up to the plate to provide funds for up and coming mom and women-owned businesses.
“Many relief programs do not support businesses that do not have payroll expenses or support businesses that may not have relationships with commercial banks. We also realize that while these women are trying to find relief for their businesses, they are also trying to be teachers and mothers. We knew we had to help. If we aren’t able to save mom-owned businesses, women-owned businesses in general will see a decline and push our hard work of elevating women-owned businesses back by decades,” Lucas said.
According to Black Enterprise, grants ranging from $500-$1,000 will be awarded to applicants. The incubator will start accepting applications on May 18.
Click here for more information about Moms As Entrepreneurs.