Black-owned company launches loan program for startups – WSOC TV

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CHARLOTTE — A black-owned venture capital firm, Black Pearl Global Investments, has launched a micro-loan program for local startups. Five companies were beneficiaries of the loan on Monday.

[ALSO READ: Black-owned business spotlight: Boundary Street Advisors]

The company has pledged, through local partnerships, to invest up to $100,000 in businesses that may not qualify for conventional loans.

Loans will be granted based on deprioritizing factors, such as credit history and employment gaps. Black Pearl hopes to give entrepreneurs a fighting chance.

Recipient and business owner Reverend Vanessa Whitley said she was creating a scholarship program for minority teens.

“I want them to take this education seriously and pursue it,” said Whitley, with Be Encouraged Christian Ministry.

Another local business owner who received the grant said the opportunity would give her the capital to take her business to a new level.

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Anita Dereen, the owner of Spa of Africa, said she wanted to bring her healing and wellness practice to the black community.

Whitley said Black Pearl is celebrating its fifth anniversary this year.

(Watch video below: Hornets team up with Bank of America, Black-owned restaurants to serve 2020 meals)

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