Invest in Entrepreneurs

According to analysis conducted by McKinsey and Company, “in regions as diverse as Africa, Europe, and the United States, up to a third of the workforce is vulnerable to reduced income, furloughs, or layoffs as a result of the crisis.” Getting cash into the hands of small business owners, who employ nearly 50% of workers in the U.S., is one of the most effective ways that we can keep the global economy moving as COVID-19 continues to take a toll on our communities. At The Global Good Fund, we are working to ensure that the innovators in our community have the resources they need to keep their doors open, their staff employed, and evolve their businesses to meet the demands of the current environment. We’ve deployed $325,000 and counting. Here’s how: 

First, we gave our current class of fellows a $10,000 unrestricted grant. These funds are typically phased over 12-months and are restricted to leadership development; we adapted to meet the urgent need. 

Second, we created the Survive and Thrive Fund to raise additional funds for grants and low interest loans to meet the needs of our network as the pandemic and economic crisis continues. To date, we’ve provided additional funds to 11 organizations around the world that are filling social needs that have been exacerbated by the pandemic. 

Esusu, led by Wemino Abbey and Samir Goel, is working  with renters in their ecosystem who will not be able to make rent due to covid-19, helping to keep vulnerable populations in their homes.

Health Access Connect, led by Kevin Gibbons, is organizing and coordinating with health officials, local leaders, and residents of remote villages in Uganda to provide access to essential health information, PPE to prevent the spread of COVID-19, and access to healthcare.

Fight The Stroke, led by Francesca Fedeli, is dedicated to helping young stroke survivors and is using the funds to start a new online rehab service through Facebook that would provide 100 free treatments to children with disabilities. 

Lava Mae, led by Doniece Sandoval,  teaches the world how to take critical services for unhoused neighbors to the street by providing free toolkits, mentorship and training for communities that want to launch LavaMae-designed programs. With this funding in collaboration with Love Beyond Walls in Atlanta, it will launch a new program called LoveSinksIn to provide hand washing stations.  

Empowerment Plan, led by Veronika Scott, was founded to break the cycle of homelessness through employment in coat manufacturing but since the pandemic, the team has pivoted to produce Personal Protection Equipment (PPE) and this money will help them continue to do just that.  

TechForTroops, led by Mark Casper, provides veterans with skills, computers, and IT workforce training and during the pandemic they are expanding their work by providing computers to school children. 

Virtualahan, led by Ryan Gersava, ensures that the most excluded populations of society are given equal opportunities for high-level work in the new digital economy. They are providing job training to an additional 100 people, all of whom lost their jobs as a result of COVID-19, and providing medical assistance to 28 people with disabilities. 

Fútbol Más, led by Victor Gutierrez, promotes the well-being of children and young people, strengthening resilience processes, significant links and community cohesion through play and sports. While their in-person programs have been suspended in the nine countries where they operate, they are building a digital platform with the goal of reaching 100,000 children. 

SoyDoy, led by Andrea Escobar, develops sustainable projects to improve the nutritional well-being of children in Colombia by supporting different communities by means of nutrition and entrepreneurship, NUTRIPRENEURSHIP programs. Through the additional funds, they will serve 350 families, totaling 2,000 people, and continue to employ their staff of nine. 

4PFoods, led by Tom McDougall, was founded to create a just and equitable food system in the United States by ensuring that all people have access to farm-fresh, healthy food, grown using sustainable and humane practices and that the people who produce that food are able to earn a fair and dignified living doing so. 4PFoods will grow their staff to 150 people, and will expand their food donation program for families in need. 

Rising Foundations, led by Kelly Orians,  is working to stop the cycle of incarceration through community economic development. The small business incubator addresses both personal development and business development by meeting people where they are and identifying their strengths and experiences to help them build a strong business. The organization is continuing it’s classes virtually and will expand their housing program from 14 to 100 people. 

We will continue the work of the Survive and Thrive Fund as long as there is a need. Join us by supporting the Survive and Thrive Fund, or reach out to me about how you can set up your own impact fund to support businesses in your community.