L’Oréal USA Teams Up with the NAACP to Launch Small Business Fund

by Shine My Crown Staff
Courtesy of L’Oréal

L’Oréal USA has announced its Inclusive Beauty Fund, a new grant program presented in partnership with the NAACP.

L’Oréal USA will award 30 one-time grants of $10,000 each to Black-owned small businesses, Black entrepreneurs, and professional services in all sectors of the U.S. beauty industry.

“As the leading beauty company in the United States, we believe that we have a responsibility to invest in the small business owners and entrepreneurs who are the lifeblood of our dynamic beauty industry. We are proud to team up with the NAACP to advance our shared mission of creating a more inclusive and equitable world during this time of great economic vulnerability for so many. We hope the Inclusive Beauty Fund will introduce us to entrepreneurs in the beauty industry that we can build strong relationships with well into the future,” said Angela Guy, Chief Diversity & Inclusion Officer, L’Oréal USA.

In addition to one-time funding, L’Oréal USA is committed to providing grantees with professional mentorship and business development support with the participation of top executives from its leading beauty brands and its professional beauty products distributor, SalonCentric.

The initiative is backed by L’Oréal USA’s newly formed Diversity & Inclusion Advisory Board, who will work alongside the NAACP, L’Oréal USA, and SalonCentric leaders to review and select grant recipients.

“Black-owned small beauty businesses are the heartbeat of their neighborhoods, and beauty business owners are navigating tremendous challenges stemming from the Covid-19 and recent events. The NAACP is proud to partner with L’Oréal USA to help support these entrepreneurs and ensure the longevity of the services and community their businesses provide,” said Yumeka Rushing, Chief Strategy Officer, NAACP.

The NAACP will administer applications for the Inclusive Beauty Fund in partnership with Hello Alice, a platform for small business owners to identify the right path to start and grow their company.

Applications for the financial grants opens January 29, through February 18, 2021.

All submissions must be conducted through Hello Alice: https://hialice.co/LOreal-HelloAlice-Grant. The candidates selected to receive the grants will be announced in April of 2021.

Grants are available to new or existing beauty businesses of all kinds, including but not limited to salons, spas, barbershops, stylists, makeup artists, entrepreneurs, startup founders, haircare specialists, and beauty schools.

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