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The United States Small Business Administration (SBA) is quite particular about which small businesses receive lending licenses. However, one Black-owned lending business has cracked the code. As one of the 14 licenses awarded, Lendistry — a CDFI and Fintech organization — has now become the only, Black-led group with a Small Business Lending Company license.
For those struggling to make ends meet this holiday season, Zirtue is here to help. As previously reported by AfroTech, the world’s leading relationship-based lending app has always aimed to drive financial inclusion, and today that mission remains the same. With the launch of their Alternative Payment Solution for businesses, companies will be able to utilize the platform as a payment option for customers allowing them to pay bills directly through the platform. Courtesy of Zirtue With a mission to drive financial inclusion, one relationship at a time, our vision at Zirtue is to prove that friends and family are the largest banks in the world,” said Dennis Cail, CEO and Co-founder of Zirtue, in an official email-exclusive with AfroTech. “Ultimately, we aim to be the modern-day solution for people to access needed funds through relationship-based loans, avoiding payment defaults and predatory lenders, while keeping their personal and creditor relationships intact. We believe this...
Los Angeles-based peer-to-peer lending app SoLo Funds has announced that it’s raised $10 million in its initial funding round. According to TechCrunch, the app — which was initially formed in 2018 by Rodney Williams and Travis Holoway — is set to supplant the place of predatory loans, like payday loans and high-interest rate loans. It also has a type of default insurance product that prevents the lender from defaulting on the loan in the event of an unforeseen tragedy. However, SoLo Funds is more than just something looking to disrupt the payday loan industry. Rather, it’s a peer-based lending app, which allows lenders to make money while helping out their community — and allows borrowers t o set the terms of their loan repayment to something that’s affordable for them. “A majority of [power lenders] are college-educated and the majority of them tend to be white men. Its individuals who you might not think are going to be power lenders… They may make $100,000 to $125,000 per year,”...
The efforts of a financial institution created to fund underserved farmers is being put on pause. According to a news release, the U.S. Department of Agriculture (USDA) announced in October 2024 the launch of the Southern Farmers Financial Association (SFFA), a bank that would make it easier for underserved farmers to access funding. Black farmers, in particular, face greater challenges in securing loans and often encounter discriminatory practices, Civil Eats mentions. To create better outcomes, Southern Farmers Financial Association r eceived $20 million in funding through former President Joe Biden and former Vice President Kamala Harris’ Inflation Reduction Act, which would support lending and outreach, hiring full-time staff, and attracting private sector capital. “Every farmer needs affordable financing. Farmers must have reliable and consistent access to capital to be successful,” USDA Under Secretary for Rural Development Dr. Basil Gooden said in a news release. “For too...
The music industry can be a tricky game — one minute you’re up, and the next you’re left wondering where all the money went — an intricate maze of talent, timing, and business. Few stories illustrate its complexities as vividly as Dawn Robinson’s. As a founding member of En Vogue, she was part of a movement that redefined contemporary R&B, blending impeccable harmonies with a bold, sophisticated image that commanded attention. Yet, the same industry that lifted her to legendary status ultimately left her to navigate an unrelenting financial storm. Robinson, now 59, recently revealed in a profoundly personal YouTube video that she has been living in her car for the past three years, according to The Hollywood Reporter. This revelation is more than a personal hardship — it is a case study of what happens when artists, especially Black women in the music industry, are not given the tools to own their success beyond the stage. Her story is not about missteps alone but about an industry...
Tallahassee, FL, is a growing hub for Black businesses, but there is still room for improvement. A survey released by LendingTree reveals that the city has surpassed the national average for Black-owned businesses, notes WUSF. Out of Tallahassee’s 7,828 businesses, 549 are Black-owned. Nationally, 3.3% of businesses are Black-owned as of 2022, which is a 22.2% year-over-year increase. “We found that 7% of businesses in Tallahassee are Black-owned, and that puts Tallahassee tied for 14th among the 50 biggest metros in the country,” Matt Schulz, the chief credit analyst for Lending Tree , remarked, according to the outlet. While Tallahassee’s statistics appear hopeful, considering the area’s Black population, there is still much work to be done. “When you contrast that to the fact that about 32% of the population of the city is Black, there’s a lot of room for growth,” said Schulz. Xclusive VIP Fashions Founder Kenneth Barber commented: “To that point, it becomes a growing pain.”...
Artificial intelligence is rapidly reshaping how we create, problem-solve, and engage with technology. But success with AI doesn’t happen by accident — it happens by design. Generative AI tools like ChatGPT and Gemini can be powerful creative partners, but only if you know how to guide them. The key lies in crafting prompts that provide direction, clarity, and context. Whether you’re drafting marketing copy, generating ideas, or solving complex problems, understanding how to talk to AI is essential. Let’s explore the strategies that can turn your prompts into powerful tools for smarter, sharper results. Understanding The Art Of AI Prompting AI thrives on clarity and specificity. Great prompts act like roadmaps — clear directions lead to clear destinations. Yet, crafting those directions requires more than guesswork; it demands strategy. Blavity COO Jeff Nelson developed a six-part engineering framework that turns vague requests into actionable responses. Persona: Anchor the AI’s...
Some claim they saw it coming, and others would say that nobody could’ve called it, but Kendrick Lamar turned the 2025 Super Bowl LIX Halftime Show into his moment — a masterclass in artistry, storytelling, and cultural dominance. The Numbers Don’t Lie How’d he do it? He dominated the moment and has the numbers to back it up. According to Yahoo! Entertainment, the 2025 Super Bowl set a new standard in viewership, with Nielsen fast national figures and Tubi/NFL first-party analytics reporting record-breaking numbers. The Philadelphia Eagles secured a decisive victory over the Kansas City Chiefs as an estimated 126 million viewers tuned in. The broadcast reached its highest point, with 137.7 million viewers, just before the halftime show featuring Lamar. According to Roc Nation and Fox Sports, it stands as the most-watched halftime show in history with 133.5 million views during the performance. The NFL highlighted this achievement by sharing the announcement on its official X...
For the third consecutive year, Atlanta, GA , is the leading hub for Black-owned businesses in the United States. According to a LendingTree analysis, the city boasts the highest percentage of Black-owned businesses in the nation, with 11.3% of all businesses in Atlanta — or 13,766 — being Black-owned. The analysis used the 2023 U.S. Census Bureau Annual Business Survey to rank metropolitan areas by the percentage of Black-owned businesses in 2022. Windsor Jones, co-owner of Sweet Auburn Bread Company in the historic Sweet Auburn district, told Atlanta News First that he was not surprised by LendingTree’s findings. “It’s always been the Black mecca for excellence and resilience and entrepreneurship,” Jones told the outlet, describing Atlanta as the best city for Black entrepreneurs to thrive. As for nationwide trends, the LendingTree report revealed that Black-owned businesses in the U.S. grew by 22.2% year-over-year, accounting for 3.3% of all enterprises in 2022, up from 2.7% in...
The number of Black-owned businesses has increased. However, there is still much room for improvement. According to a research study released by the online loan marketplace LendingTree, the data reveals a 22.2% year-over-year increase since 2019. Looking back to 2022, just 3.3% of businesses were Black-owned , and 40% were women-owned. Other trends highlighted in the report show that Atlanta, GA, remains the primary hub for Black-owned businesses. The city has held this distinction for the past three years, with 11.3% of Black-owned businesses traced back to it. Other key cities identified in the report include Fayetteville, NC, Virginia Beach, VA, and Memphis, TN. Conversely, California cities such as San Jose, Oxnard, and San Diego ranked lowest in the number of Black-owned businesses. “When I initially started my entrepreneur journey, there weren’t very many Black founders,” Tiffany Ricks, chief executive of the cybersecurity platform HacWarhe, told Inc. “Now it’s exciting...
Ohio’s only Black-owned bank — and the first established and approved in the U.S. since 2000 — has tripled its assets since inception. Columbus Business Journal reports Adelphi Bank was founded in January 2023 and is led by Chairman and CEO Jordan Miller, who had spent over three decades in business and initially retired in 2019 as Central Ohio president for Cincinnati’s Fifth Third Bank. He returned to the industry to get Adelphi up and running with a mission of dismantling financial inequities and helping customers create streams of income without bias. He is joined by Kevin Boyce, co-founder and vice chairman. Upon its launch, Adelphi received local support from large corporations in central Ohio. “It feels like family,” Miller expressed, according to the outlet. “Banks can be intimidating places.” Columbus-based Adelphi Bank currently offers certificates of deposit, checking and savings accounts, and loans for personal use. It plans to provide home mortgages in 2025. For...
If the workforce were a playlist, 2025 would give “Renaissance” by Beyoncé — a vibe shift, a reset, and a clear signal that the world of work is hitting some new high notes. The game is changing, and whether it’s artificial intelligence (AI) running point, the return of curated travel experiences, or frontline roles making a comeback, one thing is clear: opportunities are out here, but they won’t fall into your lap. For Black professionals, the stakes are high. Job competition is fierce, with 2.5 applicants per role compared to 1.5 in 2022. Confidence is shaky, and hiring managers ghost candidates like they forgot the assignment. However, according to LinkedIn’s Jobs on the Rise 2025 report , nearly 60% of these roles are fresh on the scene, signaling change and opportunity. “Fields like AI, experiential industries, and frontline jobs are booming, offering fresh opportunities to break into spaces where we’ve historically been underrepresented,” says Andrew McCaskill. AI: The...
Jaden Smith, the son of Hollywood icons Will Smith and Jada Pinkett Smith , has built his own legacy as an actor, musician, and entrepreneur. While he balked at the idea of public schooling previously, that hasn’t stopped him from making a name for himself both in his family’s industry of entertainment, and in his own business ventures. Currently, he’s using his entrepreneur’s spirit to improve the world as he sees it, painting himself as a philanthropist as well. However, as a businessman, philanthropist and actor at the young age of 26 (and while having famous parents and a just-as-famous sister ), what is Jaden Smith’s net worth? Acting Career Smith made his acting debut alongside his father in the critically acclaimed film, The Pursuit of Happyness in 2006. His role as Christopher Gardner Jr., the son of a struggling salesman, garnered widespread recognition for his acting abilities at a young age. This performance opened doors to other significant acting roles, such as the...
Issa Rae has opened a new restaurant in Los Angeles. The actress and serial entrepreneur , already renowned for the community-focused Hilltop Kitchen + Coffee, is expanding her presence. With the same spirit, she brings a new energy to Los Angeles through her latest venture, Somerville. “Always wanted a neighborhood lounge to complement the special community that is View Park-Windsor Hills. The genius GVO Gentlemen said, how about a restaurant? @somerville.slauson — an ode to the classic, artistic past of Black South Central L.A? And sure, the ambience will be fantastic, but the food and cocktails will keep you coming back,” Rae said in a post shared on Instagram. View this post on Instagram A post shared by Issa Rae (@issarae) Customers can visit Somerville at Park-Windsor Hills, which GVO describes as a “progressive American dining experience.” According to the restaurant’s website, its extensive menu includes the Somerville burger, pan seared ora king salmon, and Mary’s organic...