EforAll Receives More Than $275,000 from Facebook to Expand Access to Entrepreneurship among Under-Represented Individuals
Funds will support existing and new EforAll programs to drive economic and social impact in communities nationwide through inclusive entrepreneurship
Lowell, MA – December 14, 2020 – The nonprofit Entrepreneurship for All (EforAll) announced today that it has received a $277,777 grant from Facebook after being nominated by Facebook employees as part of a $10 million Racial Justice grant initiative, where EforAll and 36 other organizations were selected as grant recipients from a pool of more than 400 organizations.
EforAll was chosen for its proven approach to helping under-represented individuals start and grow businesses in a variety of industries by providing them with access to the knowledge, tools and network to succeed.
“We’re excited to help bring much-needed funding, on behalf of Facebook employees, to nonprofits working to advance racial equity and racial justice in the United States,” said Marcy Scott Lynn, Director of Global Impact Partnerships at Facebook. “Our employees recognize the important work EforAll is doing, and we are glad to be able to make these donations on their behalf while also continuing on our equity and inclusion journey.”
Among the businesses started by EforAll participants, 58 percent are owned by people of color, and 46 percent are owned by immigrants.
“Entrepreneurship is a critical component of both addressing the racial wealth gap and ensuring a thriving, vibrant economy in communities across the United States,” said David Parker, CEO of EforAll. “Facebook’s generous support will allow us to advance our mission of driving economic and social impact through inclusive entrepreneurship, and to provide everyone — regardless of race, country of origin or gender — with the tools and guidance to build and grow a successful business or nonprofit.”
Currently, EforAll offers a yearlong Business Accelerator Program twice a year in communities across Massachusetts as well as in Longmont, MA, with programming available in both English and Spanish. Provided at no cost to participants, the program covers critical early-stage business challenges (including creating a value proposition, fundraising, bookkeeping, pricing and social media) and matches each entrepreneur with a team of 3 mentors. Participants have the opportunity to win seed money each quarter. EforAll also holds pitch contests that are open to everyone and offer an opportunity to validate a business idea, win cash prizes, network with local business owners and meet potential customers.
Entrepreneurship for All (EforAll) is a nonprofit organization that partners with communities nationwide to help under-represented individuals successfully start and grow a business through intensive business training, mentorship and an extended professional support network. To date, EforAll alumni have launched more than 500 businesses and created more than 700 local jobs. Programs are available in both English and Spanish. EforAll is currently available in the following MA communities: Berkshire County, Cape Cod, Fall River/New Bedford, Greater Worcester, Holyoke, Lawrence, Lowell, Lynn, and Roxbury as well as Longmont CO. To learn more about EforAll, please visit eforall.org.