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L’Oréal USA, NAACP Launch Black-owned Business Fund

The grant program, christened the "Inclusive Beauty Fund," will provide 30 grants of $10,000 each to small, Black-owned beauty businesses.

L’Oréal USA is teaming with the NAACP to support Black-owned businesses.

In partnership with the civil rights organization, L’Oréal USA is launching a grant program for small, Black-owned businesses in beauty, ranging from entrepreneurs to professional services. Dubbed the Inclusive Beauty Fund, it will give one-time grants of $10,000 each to 30 recipients.

Recipients will be chosen by the beauty giant’s diversity and inclusion advisory board, which was formed last year in response to the Black Lives Matter movement, alongside L’Oréal USA itself, the NAACP, and SalonCentric. The diversity and inclusion advisory board consists of both external and internal stakeholders. Applications can be submitted through a partnership with Hello Alice, and are open until Feb. 18. The recipients of the grants will be revealed in April.

“We believe that we have a responsibility to invest in the small business owners and entrepreneurs who are the lifeblood of our dynamic beauty industry. We are proud to team up with the NAACP to advance our shared mission of creating a more inclusive and equitable world during this time of great economic vulnerability for so many,” said Angela Guy, chief diversity and inclusion officer at L’Oréal USA, in a statement.

The beauty group will also be facilitating “professional mentorship and business development support” for recipients, according to the statement. The company also alluded to future partnership between L’Oréal USA and the NAACP.

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