Women’s Economic Ventures (WEV) will receive $50,000 in funding to assist minority entrepreneurs and 1099 workers as they recover from the COVID-19 pandemic.

The grant, awarded by Kaiser Permanente, the nation’s largest integrated, nonprofit health system and the National Association for Latino Community Asset Builders (NALCAB), will also provide technical assistance and training as part of WEV’s work to provide culturally relevant support to low-wealth entrepreneurs and 1099 contract workers of color.
 
“The pandemic has been particularly challenging for minority and women-owned businesses,” said Kathy Odell, WEV CEO. “WEV is incredibly grateful for the opportunity to partner with NALCAB and Kaiser Permanente to provide much needed training and capital to minority-owned businesses in Ventura County.

“This innovative program will provide forgivable loans and targeted training to help them move forward with confidence and build successful, sustainable businesses.”

Through a competitive process, organizations in California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, and Washington, DC, were eligible to apply for grants up to $60,000 administered by NALCAB.

The grants will support resiliency among entrepreneurs, including adapting their business model more effectively to the constraints of public health guidance, and assistance in navigating and accessing federal, state and local government, as well as philanthropic, emergency relief, and business assistance resources.

Through its commitment to foster economic opportunity for traditionally underserved communities, Kaiser Permanente has also designated $15 million in grants to increase access to formal training, business networks, and recovery and growth capital to help businesses led by Latinos and other groups to overcome systemic economic disadvantage.

“With the understanding that a return to business as usual is still far off, it is urgent that the small businesses and entrepreneurs of color who have suffered disproportionate financial setbacks during the pandemic receive aid and assistance to maintain their vitality,” said Stephanie Ledesma, Kaiser Permanente’s interim senior vice president for community health programs.

For more about Women’s Economic Ventures, visit www.wevonline.org.