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L’Oreal USA has launched its new edition. inclusive beauty fundWe provide Financial support and resources for small businesses and entrepreneurs throughout the beauty industry. L’Oréal, operated in partnership with the NAACP’s Economic Empowerment Fund and the Hispanic Federation, respectively, is partnering with GlobalGiving to provide 40 one-time grants to small businesses and entrepreneurs in the beauty industry across the United States.
In 2021, recognizing that the beauty industry has been hardest hit by the economic impact of COVID-19 and the resulting closures, L’Oréal USA has partnered with the NAACP to provide funding and business guidance. Provided much-needed support to 33 small beauty industries. business. Grant recipients used the funds to increase inventory, refine marketing strategies, and open new retail stores.
“The grants provided by L’Oréal USA and the NAACP came at the perfect time for us. This really gave us the fuel to invest in inventory and marketing. Resources were really important to us. As a business, it has provided us with a gateway to connect with salon owners and stylists in a whole new way.” Said LaToya Stirrup, Kazmarie Co-Founder and CEOwinner of a 2021 Inclusive Beauty Fund grant.
L’Oréal says that despite progress, it is important to continue supporting beauty entrepreneurs who still face financial hurdles and headwinds. The beauty giant says these challenges are limiting its potential to expand its business and provide essential beauty services to consumers across the country.
extension program
In 2024, L’Oréal USA will expand the program to include NGO partner Hispanic Federation and grant management company GlobalGiving. In addition to one-time funding, the company will provide grant recipients with professional mentorship and business development with the participation of top executives from SalonCentric, a leading beauty brand and distributor of professional beauty products. We are committed to providing support.
“The Inclusive Beauty Fund is one cornerstone of L’Oréal’s broader commitment to promoting inclusivity in the beauty industry.” Said Liliahn Majeed, Chief Diversity, Equity & Inclusion Officer, North America, L’Oréal Group. “We value the role small businesses play in providing important products and services to consumers of all backgrounds and experiences, and we recognize the beauty businesses and entrepreneurs who are working to overcome economic challenges. I would like to play a supporting role.”
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Beauty businesses, extension artists, braiders, estheticians, barbers, salon owners, suite owners, students, and stylists nationwide are welcome to apply to the Inclusive Beauty Fund. How to apply? Applications to the Inclusive Beauty Fund are managed by the NAACP and the Hispanic Federation, respectively. The NAACP and the Hispanic Federation will award 20 one-time grants of $10,000 each, with applications opening on February 20th. All applications must be made through the NAACP or Hispanic Federation websites linked below. Candidates selected to receive grants will be announced in April 2024.
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To apply through the NAACP, please use the following link:[ad_2]
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