Launching a business is no easy feat. For as much as social media gurus love to talk about how everyone should have a hustle or launch their own business, the reality is often far different. While coming up with an idea can be hard enough, the truth is that most businesses will fail long before they reach the five-year operation milestone. Real barriers like funding a startup business as one tries to shift it from a labor of love to a profitable venture make that grim statistic a reality. In the beginning, most business owners are entirely self-funded. And while this can give one a sense of accomplishment, it also means that there can be lean times. Eventually, startups are going to need a cash infusion which is where the business loans come in. Understanding The Basics Of Startup Business Loans While business loans might seem like mysterious products, they are not much different than any other kind of financial loan offering. Simply put, a financial institution fronts a business...

Navigating the tech space as a Black entrepreneur requires a certain level of perseverance to ultimately see their innovative ideas turn into reality. It’s this relentless determination that took Kelauni Jasmyn’s paper napkin idea to recently closing in on $25 million for her national technology venture fund — Black Tech Nation Ventures (BTN.vc) — in under a year.

If you do any type of freelance or contract work, this millennial just made your life a whole lot easier! As a football star turned tech guru, Blake Stanton is the visionary behind the Quiktract app, designed to give his peers a safe space while they’re sitting among corporate tables. The enterprise venture app was created specifically with entrepreneurs in mind as it allows freelancers the opportunity to connect, create amenable contracts, and secure payments all in one place. Since 2019, the app has combined the ease of a marketplace with the lead, contract, and payment tools that entrepreneurs need to easily manage their work. It offers a layer of protection for both freelancers and service providers as they work together on various projects.

The COVID-19 pandemic made it clear that as essential workers help keep the world afloat startups like Vitable Health are simply vital. Hourly workers are what keep businesses rolling, yet they’re often left uninsured or have to fend for their health out-of-pocket. Vitable Health aims to change this misfortune by giving employers a more cost-effective way to give their employees and their families healthcare, Forbes reports. Now, the Pennsylvania-based startup has raised $7.2 million in funding to ensure that hourly workers’ health is as much of a priority as salaried employees. Participants of the round included First Round Capital, and angel investors such as the CEO of Lattice, Jack Altman; managing director at Y Combinator, Michael Seibel; senior vice president of business at GoPuff, Daniel Folkman; co-founder of Cityblock Health, Toyin Ajayi; and others, according to Forbes. With their latest funding, Vitable Health plans to improve its app as it launches its mental health...

Tennis superstar and philanthropist Serena Williams is giving back to underserved communities by backing leading rent reporter fintech company Esusu. According to a press release, Williams participated in the company’s $10 million Series A funding round — led by Motley Fool Ventures — with an undisclosed “significant investment” through her venture capital firm, Serena Ventures. In speaking with CNBC, Williams shared that she started her company to “invest in diverse founders and early-stage companies that outperform and generate impact, while at the same time empowering others and creating opportunities” — thus identifying Esusu as one of those very companies. “Esusu is really focused on credit building and creating pathways to financial inclusion for not only working families but for individuals as well,” she shared in a press statement. “Their services also make rent reporting seamless – finally giving renters credit for what often is their largest expense every month. Last year,...

A lot of companies talk a good game about diversity, equity and inclusion (DEI) initiatives, but are these companies actually following through? Thanks to Black-owned tech startup Blendoor, this company is using data to score other companies on how diverse they really are. Blendoor , founded in 2014, is described as the “standard for corporate DEI ratings. The startup’s ratings are what help impact investors, diverse executives, and corporate boards align their company’s business strategy with fairness and equity. According to TechCrunch, Blendoor founder and CEO Stephanie Lampkin launched her company with a mission to focus on finding qualified diverse candidates by minimizing the bias that exists within companies’ hiring processes. As a natural starting point, the startup chose to target companies that have already made public DEI pledges. “We decided to create an index, a credit score, and we pulled in a ton of data from their diversity reports, their EEO One forms if they...

They’ve called him Big L’why, Big Silly, Big Money, Big Billy in  Hip-Hop for years — and now, Silicon Valley can call LL COOL J that, too. In a press release announcement, it was revealed that Rock The Bells — a direct-to-consumer online store for Hip-Hop culture merchandise, which has mushroomed into a multimedia brand name that includes LL COOL J’s Rock The Bells Radio on SiriusXM Channel 43 — acquired $8 million in a Series A funding round. The funding round was led by Raine Ventures — who has invested in Barn2Door, Knock Knock, and IRL in the past. “It’s an honor to be supported by such a distinguished group of investors,” said LL COOL J, CEO and co-founder of Rock The Bells, in the press release announcement. “This funding will help us accelerate our growth and team-building efforts to make sure we can further uplift the people and culture at the forefront of Hip-Hop through exciting e-commerce collaborations, storytelling, and experiences.” M13, Willoughby Capital Holdings,...

Back in the early 1900s Parrish Street’s four-block district in Durham, North Carolina used to be home to a plethora of Black-owned businesses. Though those businesses do not exist today, this venture capital fund is working to keep the district’s legacy alive. Resilient Ventures — a fund comprised of local angel investors — is a capital fund that was created to mirror the mission of Durham’s Black Wall Street in an effort to provide more opportunities for Black-led startups all across the country. According to its website, Resilient Ventures was founded on principles and values that aim to “disrupt systemic economic injustice by expanding access to capital, networks, and opportunity to companies.” As of this week, Hypepotamus reports that just two years after its launch and amid the pandemic, Resilient Ventures has closed on a $3.45 million fund from 24 investors total described as “mostly accredited individual investors from their network,” who contributed to the fund. Though the...