Support Black Businesses
Why is it harder for the black community to grow wealth? The black community has been a condition to buy with everyone except for his own. The black community spends 1.2 trillion dollars a year. We only circulate 2% of that money within the community. The black dollar is only distributed within the black community for 6 hours. While other races such as the Asian community dollar circulates for 28 days before leaving. The Jewish community circulates their dollar for 19 days. It time to support each other. It is time to support your friends business venture, charities, artistic expression & all things black. Share their new songs, products, books, business, etc. If we can circulate our dollar for one day, this would be stuffiest enough to see a noticeable change.
Start Buying Black
1.We Buy Black
We buy Black is an online platform, for black entrepreneur to share their business and products with the black community. It is a place to support your fellow brothers and sister. Make it a goal to at least buy one product from them a month.
2. Bank Black
Why is it so hard for a black person to be approved for a loan? It was the policy of most banks at one time to turn down all black people who even thought to ask for a loan. This is still done today but by different methods. Bank with someone who understands your situation and goals. If there is a black owned bank within your community, you should open an account with them if your apprehensive start with $20.
Currently There Are 38 Black Owned Banks In The USA
- Omega Psi Phi Credit Union – Lawrenceville, Georgia
- Phi Beta Sigma Federal Credit Union – Washington, DC
- One United Bank – Los Angeles,California
- FAMU Federal Credit Union – Tallahassee, Florida
- Credit Union of Atlanta – Atlanta, Georgia
- North Milwaukee State Bank – Milwaukee, Wisconsin
- Seaway Bank – Chicago, Illinois
- The Harbor Bank- Baltimore, Maryland
- Liberty Bank – New Orleans, Louisiana
- United Bank of Philidelphia – Philidelphia, Penn
- Alamerica Bank – Birmingham, Alabama
- Broadway Federal Bank – Los Angeles, California
- Carver State Bank – Savannah, Georgia
- Capital City Bank – Atlanta, Georgia
- Citizens Trust Bank – Atlanta, Georgia
- City National Bank – Newark, New Jersey
- Commonwealth National Bank – Mobile, Alabama
- Industrial Bank – Washington D.C.
- First Tuskegee Bank – Tuskegee, Alabama
- Mechanics & Farmers Bank – Durham, North Carolina
- First Independence Bank – Detroit, Michigan
- First State Bank – Danville, Virginia
- Illinois Service Federal – Chicago, Illinois
- Unity National Bank – Houston, Texas
- Carver Federal Savings Bank – New York, New York
Source: Bank Black
3. Buy Back The Block
Buy back the block is an organization that has gone across the country buying property and fixing it up. This company purchases house, office space, schools and more. This is a new business with a lot of potentials. There allowing people to invest in helping buy property while making some extra cash.
We are currently at a 2% circulation of money within the black community. Let all strive to bring that number up to 10% by shopping within your community for all things.
Related Post: Black People Around The World