New Voices Foundation is launching the New Voices Banking Bootcamp, a business banking educational program in partnership with JPMorgan Chase’s Advancing Black Pathways initiative, announced PRNewswire.
According to the press release, the bootcamp is designed “to help women of color entrepreneurs establish strong business banking relationships and expand their access to capital.” Considering that entrepreneurs of color still struggle to raise venture funds and resources for business growth, this opportunity will help fill the gap through financial education.
“The importance of capital to small businesses’ ability to grow and thrive cannot be overstated,” said Richelyna Hall, New Voices Foundation’s Chief Impact Officer. “Access to capital continues to be out of reach for women of color entrepreneurs with investors both less likely to be exposed to these entrepreneurs and less willing to diversify their applicant pools. Moreover, research has shown that most investors have different standards for women of color when evaluating their funding eligibility.”
The program will include intimate 15-participant workshops that will cover banking/capital models and risk analyses, relationship building with financial institutions, and securing capital. In addition, there’s a $10,000 award upon completion of the program.
“New Voices is committed to helping women-of-color-led businesses learn and implement banking and financial best practices,” Hall added, “and the New Voices Banking Bootcamp will jumpstart the process for participants.”
The banking bootcamp will run from Nov. 30 through Dec. 18. Applications are open now through Nov. 22.
