The U.S. Small Business Administration partners with The Divine Nine to address the Black Wealth Gap

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SBA Chief Isabelle Casillas Guzman signed the Memorandum of Strategic Alliance with President Reuben A. Shelton III, Esq. (Polebrand of Kappa Alpha Psi Fraternity, Inc.) on behalf of the NPHC.

Made official as an introduction to Juneteenth, the new strategic alliance is proof of the Biden-Harris administration’s commitment to building equity for underrepresented communities across the United States. SBA press release, the alliance is an agreement that will focus on improving financial literacy within underserved and disadvantaged communities.

A major focus of the alliance will be providing resources to black entrepreneurs by introducing them to the SBA’s suite of business growth tools. These tools include access to capital, government contracting opportunities and advice.

“This historic alliance between the SBA and the NPHC – the first of its kind for a government agency – will put the SBA’s valuable small business resources within reach of many small businesses and entrepreneurs, furthering the Biden administration’s commitment -Harris to build equity and close historic wealth gaps that have held back Black American entrepreneurs, small business owners, and their families and communities for generations,” Administrator Guzman said, according to the Press release.

“The National Panhellenic Council and its affiliated organizations are very excited about this opportunity with the US Small Business Administration,” Shelton III added of the partnership. “This collaboration will give NPHC members critical access to information that will help small businesses grow and create jobs in all sectors of our economy.

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