02.23.24
L’Oréal USA has released its 2024 Inclusive Beauty Fund, which provides resources and financial support to entrepreneurs and small businesses in the beauty industry across the U.S. L’Oréal has partnered with the NAACP’s Economic Empowerment Fund, the Hispanic Federation and GlobalGiving to deliver 40 one-time grants.
This initiative began in 2021 in response to the economic fallout of the Covid pandemic. It began with 33 small beauty businesses, that received funds to open new retail spaces, expand their inventory and improve marketing strategies.
“The Inclusive Beauty Fund is one of the cornerstones of L’Oréal’s broader commitment to advancing inclusivity within the beauty industry," said L’Oréal Groupe Chief Diversity, Equity & Inclusion Officer, North America, Liliahn Majeed.
L’Oréal continues to support beauty businesses and entrepreneurs who are struggling with the aftermath of the pandemic.
Advice, mentorship and business support will be provided by top executives from L’Oréal Groupe’s beauty brands and professional products distributor SalonCentric.
Majeed added, "We value the role small businesses play in bringing vital products and services to consumers across all backgrounds and lived experiences and we want to do our part to support beauty businesses and entrepreneurs who are working to navigate economic challenges.”
Applications are administered through the NAACP and Hispanic Federation, respectively. Each organization will award 20 one-time grants of $10,000 each.
Applications close on March 29, 2024, and recipients will be announced in April.
See here to apply via the Hispanic Federation.
This initiative began in 2021 in response to the economic fallout of the Covid pandemic. It began with 33 small beauty businesses, that received funds to open new retail spaces, expand their inventory and improve marketing strategies.
“The Inclusive Beauty Fund is one of the cornerstones of L’Oréal’s broader commitment to advancing inclusivity within the beauty industry," said L’Oréal Groupe Chief Diversity, Equity & Inclusion Officer, North America, Liliahn Majeed.
L’Oréal continues to support beauty businesses and entrepreneurs who are struggling with the aftermath of the pandemic.
The Expanded Program
This year, L’Oréal expands the outreach of its Inclusivity Beauty Fund with the help of NGO partner Hispanic Federation and GlobalGiving. L’Oréal will be able to provide professional mentorship and business development support in addition to one-time funding.Advice, mentorship and business support will be provided by top executives from L’Oréal Groupe’s beauty brands and professional products distributor SalonCentric.
Majeed added, "We value the role small businesses play in bringing vital products and services to consumers across all backgrounds and lived experiences and we want to do our part to support beauty businesses and entrepreneurs who are working to navigate economic challenges.”
How to Apply
Beauty businesses, salon owners, suit owners, stylists, barbers, extension artists, braiders, estheticians and students nationwide are encouraged to apply.Applications are administered through the NAACP and Hispanic Federation, respectively. Each organization will award 20 one-time grants of $10,000 each.
Applications close on March 29, 2024, and recipients will be announced in April.
See here to apply via the Hispanic Federation.
