Iota Phi Lambda Sorority Commits $7k In Grants To Small Businesses Owned By African American Women

Iota Phi Lambda Sorority, Inc, in partnership with the Lola M. Parker Foundation is committed to empowering youth and women to achieve financial independence through entrepreneurship and business education.

Small businesses owned by African American women are being adversely affected by COVID-19. As we know, African American owned businesses do not always have access to federal funding or the resources to recover from major disaster events. As we continue to recover from the effects of COVID-19 pandemic and the inequality of loan assistance and resources, Iota has renewed its efforts to help small businesses in our communities.

Starting July 1st, applications will be available and accepted from African American women-owned small businesses in each of the five regions served by Iota Phi Lambda Sorority, Inc. Applications are due by July 21, 2020.

We will award up to 10 micro-grants ranging from $500 to $1,000 to small businesses owned by African American women, with less than 15 employees, to aid in their survival and recovery. The grants are to be awarded by a lottery of qualified applicants on August 8, 2020. To qualify, a business must have been in business for at least one year, have less than $100,000 in annual revenue, and experienced a 25% decrease in revenue as a result of the COVID-19 pandemic.

Please contact your local Iota chapter for an application. Learn more about the national organization at https://iota1929.org.

About Iota Phi Lambda Sorority, Inc.:
Founded in 1929 in Chicago, Illinois and national headquarters located in Washington, DC is a national business and professional women’s organization which strives to:

* Unite in sisterhood qualified business and professional women in order to enhance and improve the status of women in our highly complex, competitive business and professional world;

* Promote increased interest in the broad field of business education among high school and college young women through planned programs and scholarships;

* Encourage the development of personal goals and leadership potential; and

* Establish and promote civic and social service activities for youth and adults.

The Sorority’s national theme is Business and Professional Women Building the Foundation for Generational Financial Empowerment. Through the theme the sorority aims to:

* Make worthwhile contributions to the changing socio-economic patterns of our time;

* Project the philosophy of the pursuit of excellence in all worthy endeavors among youth and adults;

* Develop leadership expertise among business and professional women.

Currently, this 91-year old nonprofit business and professional sisterhood is led by Dorothy M. White, 23rd National President and five Regional Directors that cover 52 chapters of members providing service to their respective communities through Iota’s Central, Eastern, Far Western, Southern, and Southwestern Regions throughout the United States and U.S. Virgin Islands. The organization is comprised of near 1,000 combined professional and businesswomen, and entrepreneurs. As of 2015, Iota founded the Lola Mercedes Parker Foundation and continues to work with its foundation in partnership to support the organization’s mission, values, and aims.

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About Margo Gabriel

Margo is a freelance writer, photographer, music lover, churro aficionado and all-around life enthusiast behind Margo’s Creative Life. She loves a good gin and tonic, hold the cranberry juice. Follow her jaunts around the world on Instagram @margoscreativelife.
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