(Black PR Wire) New York, NY – The New York Urban League (NYUL) today announced a $250,000 grant from Valor Equity Partners for its Small Business Solutions Center to serve the critical needs of Black-owned small businesses who have been negatively impacted by COVID-19. Valor Equity partners joins Paypal in supporting this critical work. The NYUL Small Solutions Center will serve those businesses geographically located in the five boroughs that meet the Small Business Administration definition. NYUL will also partner with Bedford-Stuyvesant Restoration and Harlem Community Development Corporation on this effort to create a collective of service providers who have a legacy of success in the following industries: Marketing, Finance, Technology, Human Resources, and Business Management.
This Center will provide advanced and customized expert services to 25 Black-owned small businesses in New York City. Members of this elite inaugural cohort will partner with industry professionals to address access to capital, expanding the market for your goods or services, exploring partnerships, developing effective accounting practices, develop safety measures for staff and their physical plant. Each selected business will receive a unique assessment with a lead consultant, who will work to produce a knowledgeable course of action prescribed by an advisory board of corporate executives, successful entrepreneurs, and other industry leaders.
Antonio Gracias, Founder, CEO and CIO of Valor Equity Partners stated, “We are honored to support the New York Urban League (NYUL) as it continues to assist and empower disadvantaged communities in New York City. Our contribution joins other supporters in assisting NYUL in its critical efforts to make available financial resources and expertise to Black and Latinx owned businesses in these communities. By working together and joining forces with other community organizations, NYUL continues to accelerate the recovery of NYC from the many challenges created by the pandemic and ensuing economic crisis. We are proud to be part of this effort.”
“COVID laid bare some of the harsh realities of small businesses who work with fragile back operations and cash reserves. Too many businesses were not able to whether the initial storm of COVID followed by the staffing shortages and CDC regulations that have emerged as New Yorkers return to work. As a result, we are thrilled to partner with Valor Equity Partners and to provide our selected businesses with access to the vast network of resources afforded to our organization in the corporate sector, government and community. By creating collective media campaigns, directories and mini-trade shows, we look forward to connecting our small business owners with customers, capitol and resources they need to survive and thrive," Arva Rice, President & CEO of the New York Urban League.
NYUL created the Small Business Solutions Center in response to the need for small businesses to have a consistent and trusted source of support. Black- and Latinx-owned businesses continue to struggle to access federal aid efforts. As a result, restaurants and other small businesses have had to finance social distance standards and requirements while creating websites and other communications tools to meet or build demand for their services. NYUL’s Small Business Solutions Center will provide real-time support and resources to help businesses get back on track and re-enter the marketplace with improved and enhanced abilities to meet customer demand.
Founded in 1919 to provide opportunities for Blacks migrating from the rural south to New York City, NYUL has helped workers and families gain access to jobs, schools, and hospitals for more than 100 years. NYUL has opened the ranks of many industries to Black workers and helped thousands of African American students become first generation college students. Central to NYUL’s work is the core belief that inequality is unacceptable. To that end, the organization focuses its efforts on education programs with a focus on STEAM and college access, employment and advocacy. The flagship affiliate of the National Urban League, NYUL is one of New York’s oldest civil rights organizations.
About Valor Equity Partners
Valor Equity Partners is an operational growth investment firm focused on high growth companies across various stages of development. For decades, it has served its companies with the expertise to solve the challenges of growth and scale. Valor Equity Partners partners with companies and entrepreneurs who are committed to the highest standards of excellence and the courage to transform their industries.