Did you know? Between 2014 and 2019, the number of businesses owned by Black women grew by 50% — the highest growth rate of any female demographic. Not only that, but SC ranks fourth in states with the fastest growing number of women-owned businesses.

One challenge that nearly all businesses face is limited access to tools and resources that help them grow, and Black women are more likely than other demographic groups to self-fund their businesses. Enter: CommunityWorks, a nonprofit focused on connecting minority and women business owners with the resources + capital they need to thrive.

Here are three practical, hands-on ways they help GVL businesses grow:

Access to capital

Credit Builder loan recipients pay small monthly amounts to CommunityWorks to build credit, and at the end of the loan term, they receive that money back. | Photo provided by CommunityWorks

The biggest barrier for many minority-owned businesses? Access to capital and credit. CommunityWorks’ Credit Builder loan and Small Business Loan products are unique programs that help business owners establish credit and save money simultaneously, while also having access to capital opportunities up to $250,000 depending on need and eligibility.

CommunityWorks also leverages training, peer mentorship + financial wellness programs to build stronger entrepreneurs.

Personalized financial wellness advice

CommunityWorks believes private loans are better for business owners than consumer lending. | Photo provided by CommunityWorks

For a business to be successful, its owner has to be on top of their personal finances first. That’s why CommunityWorks offers a free financial wellness program to equip business owners with the tools they need to be financially healthy.

Expert training + tools

Capital and funding are crucial for up-and-coming businesses, but so are skills and tools. CommunityWorks offers tons of free and affordable trainings on relevant topics. Think: Creating a business plan, digital marketing, leadership skills, self-care habits + more.

Learn more about CommunityWorks’ programs on their website. Not a business owner but still want to support? Donating goes a long way in helping the organization build a more equitable future for SC business owners.*