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- Must identify as a Black Owned Majority business

-Commitment to 10 month cohort of monthly virtual and or in person social distanced small business sessions.

- Be financially comfortable to make monthly contribution of $250.00 for 10 months.

-Have a registered bank account, drivers license, social security number & an digital app enabled device.

-Application Deadline is June 18.

Build trust & Collectively Build Wealth within community

-Non-extractive Access to Capital

-Monthly contributions will be reported to 3 credit agencies which may strengthen creditworthiness.

-Increase Financial Awareness & Knowledge of Cooperatives

-10 Business will be selected to contribute $250.00 each monthly. Each month one business will receive the collective contribution from the cohort of $2500.00 . An additional $1000.00 will be contributed from Partnership of Southern Equity. Each month one member of the cohort will receive $3500.00.

-Contributions will be automatically withdrawn from registered bank accounts 7 business days prior to scheduled monthly deposit to remit the collective deposit

The 2021 Cooperative Wealth Building Cohort is a pilot for phase one of our mutual aid fund targeting Black Owned Businesses where we conduct a monthly voluntary exchange of financial resources & services the mutual benefit or

Black Owned Businesses.

Our microfinancing cooperative is inspired by the traditional African centered centuries-old system of savings.

We are excited to partner with a Black owned tech platform that has created an app

that will “modernize” our process.

 

The digital platform used for the cohort will serve as a financial tool to improve credit scores, as the monthly “payouts” to the mutual aid fund will be reported to all 3 financial credit institutions via the app.

This Microfinancing Cooperative is brought to you by The Ke'nekt Cooperative,

Three Seed Collective & Partnership for Southern Equity .