This App Will Help You And Your Crew Get Your Money Right
Innovator and startup CEO Fonta Gilliam put a brilliant modern twist on a centuries-old African tradition to solve a huge economic problem for Black people.
When Black people want to start businesses and gain financial stability, we have to jump over major obstacles such as having a lack of strong credit history, initial funding, mentorship, and access to the latest technology.
In 2018 Gilliam was a finalist in the Samsung NEXT Innovation Challenge. She wants to propel Black people to economic prosperity-- in spite of banks who have historically overlooked and deemed us unworthy of investment.
Sick of predatory lenders preying on the fears & desperation of our community, Gilliam’s digital platform Sou Sou modernizes an old African communal investment practice known as “lending circles”.
Lending circles help participants raise money for various financial goals, business, and personal expenses. When participants join Sou Sou’s circles, they enter into lending groups with trustworthy peers.
Sou Sou sets it up so that group members save money together, earn interest, build stronger credit scores and use their shared funds to meet immediate needs, grow ideas into enterprises, and prosper.
Plus engaging in wise circle investments helps to build users prospects for investment opportunities from other traditional sources like banks and venture capitalists.
Gilliam is working hard to bring this culturally spot-on technology to market and address the systemic barriers that keep us in precarious money situations and unable to help each other out in our times of need.
We have a quick favor to ask:
PushBlack is a nonprofit dedicated to raising up Black voices. We are a small team but we have an outsized impact:
- We reach tens of millions of people with our BLACK HISTORY STORIES every year.
- We fight for CRIMINAL JUSTICE REFORM to protect our community.
- We run VOTING CAMPAIGNS that reach over 10 million African-Americans across the country.
And as a nonprofit, we rely on small donations from subscribers like you.
With as little as $5 a month, you can help PushBlack raise up Black voices. It only takes a minute, so will you please donate now?