For Immediate Release
Walker’s Legacy Awarded $150,000 PayPal Grant to Continue Work Sustaining and Strengthening Black-Owned Businesses
Washington, DC—September 28, 2020—Walker’s Legacy, the largest digital platform for multicultural women in business, is pleased to announce that PayPal has selected the organization to receive a grant of $150,000 to continue their important work of providing entrepreneurship tools, resources, and programming to support Black women entrepreneurs. In June the organization’s nonprofit arm, Walker’s Legacy Foundation, was selected as an awardee of PayPal’s initial grant round which was announced as part of its $530 million commitment to support Black-owned businesses, strengthen minority communities, and fight for racial and economic equality.
“COVID-19 has shown us how vulnerable our economy can be, this is particularly applicable to Black-owned businesses,” said Natalie Madeira Cofield, Founder & CEO of Walker’s Legacy. “We are proud to partner with PayPal in providing business training for more than 200 Black women entrepreneurs through our PROSPECTUS 3-month accelerator program.”
Since the beginning of the COVID-19 pandemic, Walker’s Legacy has graduated 325 women of color from the PROSPECTUS program. The PROSPECTUS Business Accelerator is a 3-month intensive business training program that utilizes a structured curriculum, an online cohort model, and expert lectures to aid aspiring and existing businesswomen of color in their pursuit of advancing their business operations and access to funding.
“The COVID-19 pandemic has put enormous pressure on small businesses, and has been especially devastating for Black-owned businesses and communities,” said Dan Schulman, president, and CEO, PayPal. “To rebuild and succeed over the long-term, it’s important for these businesses to have a strong ecosystem of support. Through our grants to effective community non-profits, PayPal is working to support and strengthen Black-owned businesses and catalyze the critical work these organizations are doing to sustain Black-owned businesses and communities now and in the future.”
In June, as part of their $530 million commitment, PayPal announced a $5 million grant fund for nonprofit community partners working to strengthen Black businesses by providing microloans, technical assistance, information, mentoring, and access to digital solutions to speed their recovery from the impact of the pandemic.