L’Oréal USA has partnered with the NAACP to introduce the Inclusive Beauty Fund, an innovative initiative that aims to provide financial aid and mentorship opportunities to Black-owned small businesses and Black entrepreneurs in the national beauty industry. This fund will offer 30 one-time grants of $10,000 each to a diverse range of beauty businesses, including salons, spas, barber shops, stylists, makeup artists, entrepreneurs, startup founders, haircare specialists, and beauty schools.

Alongside the financial grants, L’Oréal USA will extend professional mentorship and business development support to the recipients. Executives from L’Oréal USA’s portfolio of beauty brands and its professional beauty products distributor, SalonCentric, will actively engage with the entrepreneurs to establish strong relationships and foster collaboration in the long run.

Angela Guy, Chief Diversity & Inclusion Officer at L’Oréal USA, expressed the company’s unwavering commitment to investing in small business owners and entrepreneurs who are integral to the dynamic beauty industry. She emphasized that partnering with the NAACP aligns with their mission to create a more inclusive and equitable world, particularly during these times of economic vulnerability.

The Inclusive Beauty Fund forms just one facet of L’Oréal USA’s larger dedication to supporting the NAACP. This collaboration will result in future initiatives aimed at driving positive change and cultivating diversity and inclusion in the beauty industry.

The fund is backed by L’Oréal USA’s recently established Diversity & Inclusion Advisory Board, which comprises over 20 internal and external stakeholders. To manage the fund’s applications, the NAACP will collaborate with small business platform Hello Alice. Interested applicants have until February 18, 2021, to submit their applications through the Hello Alice platform.

Overall, the launch of the Inclusive Beauty Fund by L’Oréal USA showcases their commitment to promoting diversity, equity, and inclusion within the beauty industry. By providing financial aid and mentorship opportunities, the fund strives to support Black-owned small businesses and entrepreneurs, enabling them to thrive in a highly competitive market. Through their collaboration with the NAACP, L’Oréal USA is actively working towards creating lasting change and building a more equitable landscape within the beauty industry.

To learn more about the Inclusive Beauty Fund and how to apply, visit the official L’Oréal USA website here. For additional information on the NAACP’s initiatives, please visit their official website here.