BeyGOOD Fund Rolls Out $500,000 Grant Program for Salon Owners
A new wave of funding is hitting the beauty industry as the BeyGOOD Foundation begins accepting grant requests. Small business owners can now get up to $10,000 to boost their…
LONDON, ENGLAND – JULY 14: Beyonce Knowles-Carter attends the European Premiere of Disney’s “The Lion King” at Odeon Luxe Leicester Square on July 14, 2019 in London, England. (Photo by Gareth Cattermole/Getty Images for Disney)
A new wave of funding is hitting the beauty industry as the BeyGOOD Foundation begins accepting grant requests. Small business owners can now get up to $10,000 to boost their shops. The Cécred X BeyGOOD program will pick 37 winners from a $500,000 pool.
Want to apply? The eligibility requirements state that you'll need at least two years of beauty work experience under your belt. You also must be a licensed professional, whether you cut hair, style it, or both. Plus, you will need papers showing you own your spot or have a rental agreement, and demonstrate proof of financial hardship.
According to a statement on the BeyGOOD website, "Hairstylists have an immense impact on the people in their chairs. They create a sacred space where we can show up how we want and express ourselves through our hair. We're honored to give back to this amazing community."
The big news? The money's now up for grabs nationwide. Previously, only five major cities made the cut: Atlanta, Chicago, Houston, Los Angeles, and New York City. Now, barbers, hairstylists, and cosmetology pros from Maine to Alaska can try their luck.
Winners get more than cash. The National Minority Supplier Development Council (NMSDC) steps in with business know-how. They'll connect the grant recipients with business development tools and certifications to grow their businesses.
What happens if you miss out on the grant? No worries. Finalists who don't receive funds will still benefit from group coaching and assistance in obtaining certification as a Minority Business Enterprise (MBE).
This push comes right after BeyGOOD invested $130,000 in scholarships to help cosmetology students fulfill their dreams of attending beauty school. That money started flowing when Beyoncé dropped her Cécred hair products this past February.
Got your eye on the prize? Mark June 13 on your calendar, as applications end then. You can head to the official BeyGOOD website to throw your hat in the ring and also look out for other future opportunities.
