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Daymond John's Mom Took Out A Loan To Invest In Him — Now He's Helping Other Black Entrepreneurs Gain Access To Funding

Entrepreneurship is a long, arduous journey that’s rarely linear. And, for Black entrepreneurs the process can be even harder. It’s no secret that minorities and female founders often struggle to secure capital when compared to white male founders. Even attracting as much visibility in mainstream media as other businesses — including social media growth — can be harder. Plus, not having a network of fellow entrepreneurs who understand the challenges can make the entire experience lonely. Daymond John, a serial entrepreneur, understands this process all too well. From his days launching the iconic streetwear apparel brand FUBU to parlaying his business acumen into the investor niche, John learned from his growing pains. Now, he wants to help other Black-owned businesses navigate those issues. From Hollis, Queens, To The Tank Today, John is a household name, thanks to his tenure on the ABC’s “Shark Tank.” But many people are familiar with him from FUBU, a streetwear brand he started...

'Shark Tank' Star Daymond John Awards $250K In NAACP Grants To Black Entrepreneurs

Even beyond ABC’s “Shark Tank,” Daymond John remains committed to supporting small businesses. During his second annual Black Entrepreneurs Day, Daymond John awarded $250,000 in NAACP Powershift Grants to Black entrepreneurs across the U.S., ET reports. The event featured conversations with Kevin Hart, Shaquille O’ Neal, Tyra Banks, Michael Strahan, Marcus Samuelsson, Rev Run and D Nice — where they all shared stories of their journey as business owners. “One thing I preach, ‘Different is better than better,’ I preach that, I preach that, and it is. However, when you are even a female founder, it’s not just about being different, you’ve gotta be better,” Banks shared at the event. “It’s like as Black people, momma has taught us, you can’t just do the same thing, you’ve gotta do better just to get this much.” Along with sharing their stories, the special guests were all a part of awarding the grants to small business owners who fought through the impact of the pandemic. According to...

Ngozi Nwanji

Oct 15, 2021