Payment-processing company Square is launching an accelerator program to help Latino and Black retail business owners get funding and coaching.
Square will provide funding, coaching, hardware, and checkings and savings accounts for 25 U.S. businesses that have been operating for less than three years.
The selected businesses will also be awarded $20,000 in funding and have access to mentorship by celebrities such as Rosario Dawson, Ayesha Curry, and Dwyane Wade. The businesses must be in clothing and accessories, health and beauty, home goods and furniture, or food and beverage.“Latinos open businesses at a rate about 55% higher than their white counterparts, and still have a harder time staying in business and getting the support they need to grow,” says in a press release.
“By launching Forward today, we’re eager to help entrepreneurs of color in the retail sector overcome systemic barriers and make their budding businesses grow.” to get vital news about Latinos and Latin America, delivered to your inbox on Tuesdays and Thursdays.
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