Our 2021 Community Wealth Building Microfinancing Cooperative collectively financially pooled together & redistributed some capital for a Black-Owned Business! The August recipient is My Potato Factory. My Potato Factory is a family-owned and operated 'quick serve' take-out restaurant. My Potato Factory's feature product is loaded baked potatoes. All of the delicious toppings and sweet potato pie are made in-house, from their gumbo to their hearty vegan
The $3,500 of capital will be used towards cosmetic and electrical upgrades. The electrical upgrades will help them grow from 1 to, 2 commercial-grade ovens. They will also make sure every team member is ServeSafe certified. The $3,500 will also help My Potato Factory adapt to our changing world. They will also be installing 3x6 glass partitions that will protect the food, patrons, and staff when patrons come in and order. Please go follow and support My Potato Factory we can't wait to see the upgrades.
About the Community Wealth Building Cohort
Our Microfinancing Cooperative is, Powered by Us! We selected 10 businesses to receive small business technical support & exchange financial resources and services that are mutually beneficial to growing their brand.
Our Microfinancing Cooperative is inspired by the traditional African centered centuries-old system of savings. Each business will contribute $250.00 a month for the next 10 months. This will allow one business each month to access $3500.00. $2500.00 collectively pooled from cohort members & additional funds of $1000.00 contributed each month from support from Three Seed Collective and Partnership for Southern Equity.
We “modernize” the traditional process by partnering with a Black-Owned tech platform that has created an app that will serve as the financial tool to improve credit scores. The monthly $250 payouts to the Microfinancing Cooperative will be reported to all 3 financial credit institutions via the app.
Keep connecting our community, culture & legacy by supporting these social impact brands. They're empowering the community, leaving a legacy, and investing in their brand. Stay tuned by following us on social media. We will have monthly 2021 Community Wealth Building Cohort Updates on plans and how the $3500 deposit has impacted their business.