Statement of Support for Hello Alice and the Fearless Fund
At the Shenandoah Community Capital Fund, we firmly believe in equitable access to capital and resources for entrepreneurs. Many have seen in the news and through social channels the lawsuits being brought against both Hello Alice and the Fearless Fund.
As the lawsuit unfolds, it is essential to emphasize the positive contributions of Hello Alice and the Fearless Fund in galvanizing small businesses and showcasing the potential for the American Dream to flourish for all entrepreneurs, regardless of background or ethnicity.
We firmly support Hello Alice and the Fearless Fund.
The need for their initiatives is underscored by the significant disparities in access to capital for Black/African American and women entrepreneurs. The challenges they face, including limited access to funding and smaller networks, contribute to lower average revenues compared to their counterparts. Closing this gap not only benefits individual entrepreneurs but has the potential to generate substantial revenue for the U.S. economy.
Grant programs, access to capital, and training programs are identified as best practices for addressing entrepreneurship gaps for women, particularly those from underrepresented communities. Hello Alice and Fearless Fund’s programs align with these best practices by offering both grants and access to capital, contributing to the resilience and success of Black/African American and women-owned businesses, as demonstrated by their improved performance during the COVID-19 pandemic.
We need organizations like Hello Alice and the Fearless Fund along with local/regional organizations like the Walker Program, B-Cubed, and RISE in order to ensure success and equitable access for all entrepreneurs, regardless of background or ethnicity.
Read more about these lawsuits, and their impact, here.