OneUnited Bank’s\Terry Williams:“Our focus is to close the racial wealth gap. We focus specifically on we are like unapologetic-ally Black. Focusing on building, helping our community both build businesses, buy Black, bank Black…”
OneUnited Bank says they are working on closing the “racial wealth gap.”
Historically Black business owners have faced various issues when trying to get businesses off the ground – from racism to redlining.
“Our focus is to close the racial wealth gap. We focus specifically on we are like unapologetic-ally Black. Focusing on building, helping our community both build businesses, buy Black, bank Black, as well as you know focusing on financial literacy,” Teri Williams, OneUnited Bank president, COO and owner said.
This is the reality that some Black business owners face when trying to get their businesses off the ground.
“Not having enough support. A lot of times when you don’t have the right resources from people in general, it tends to make it harder than what it should be,” said Kris Sawyer, local business owner.
OneUnited says this is one of the many reasons it exists today.
Williams says there’s a need to improve Black business owner’s access to capital and secure funding.
“Ownership is very very important. There are 4500 banks in the country and the majority of them all but 19 of them are not Black-owned.”
Read the rest of this story here: https://www.news4jax.com/news/local/2020/08/24/president-of-largest-black-owned-bank-sheds-light-on-issue-black-business-owners-face/