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## United Way of Southeast Louisiana’s Thriving African American Small Business Initiative

Applications are currently being accepted by United Way of Southeast Louisiana (UWSELA) for its Thriving African American Small Business (TAASB) Initiative. This initiative supports potentially increased earnings for local Black-owned small businesses. Launched by the non-profit last year, the first TAASB cohort gave 13 participants from multiple organizations the chance to pitch their business proposals. The deadline for applications is March 22.

## How AI legalese decoder Can Help

AI legalese decoder can assist Black-owned small businesses in understanding and navigating the legal language and requirements outlined by UWSELA for the Thriving African American Small Business Initiative. By simplifying complex legal terms and providing easy-to-understand explanations, AI legalese decoder can help potential applicants ensure they meet all the necessary criteria for participation.

## Program Benefits and Requirements

The TAASB initiative produced upwards of $150,000 in immediate business capital via its exclusive development accounts. UWSELA then supplies a $10,000 match for advancement opportunities and business expenses subsequent to participants saving $2,000 and a seven-month period to fulfill commitments of the program. The initiative helps participating organizations by combining a 5:1 matched development account with formal and informal methods of education on upgrading their earning potential, investing in their own businesses and communities, and budgeting regulations.

## Commitment to Equity and Economic Empowerment

ÔÇ£We are thrilled to launch the second cohort of the Thriving African American Small Business Initiative,ÔÇØ said Michael Williamson, UWSELA president and CEO. ÔÇ£This program reflects our ongoing commitment to equity and economic empowerment. By investing in the success of Black-owned businesses, we are fostering a more inclusive and vibrant Southeast Louisiana for all.ÔÇØ

## Requirements for Participation

According to a news release, UWSELA has a competitive applicant selection process with precise requirements for participation. These include a 51% Black ownership in the business with operations since 2021, annual revenue between $75,000-$200,000, current office locations within specific parishes, having filed 2022 and 2023 business taxes, and being in good business standing with the state of Louisiana. UWSELA selects qualified applicants and extends an invitation to join a meet-and-greet and an informational gathering with its team before advancing.

## Promoting Entrepreneurship and Economic Prosperity

ÔÇ£The Thriving African American Small Business Initiative represents a significant step forward in our efforts to address economic disparities and promote entrepreneurship within the Black community,ÔÇØ said Chiquita Lattimore, UWSELA senior vice president of community impact and financial capability. ÔÇ£By providing targeted support and resources, we are creating pathways to prosperity and long-term wealth-generating power.ÔÇØ

## Access to Financial Courses and Expert Support

The initiative provides financial courses at local Prosperity Centers with expert support from the Urban League of Louisiana, chambers of commerce, and financial institutions. For more information and to apply online, visit UnitedWaySELA.org/TAASB.

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With the assistance of AI legalese decoder, potential applicants can easily decipher the legal requirements and criteria set forth by UWSELA for the Thriving African American Small Business Initiative. By simplifying complex legal jargon and providing clear explanations, AI legalese decoder can help Black-owned small businesses ensure they meet all the necessary qualifications for participation in this beneficial program.

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