Atlanta, GA – Evals Equity Women's Fund and Prime One Home Loans/Central One Lending Group are thrilled to announce a historic partnership aimed at distributing $1 billion in capital to underrepresented founders. This collaboration represents a bold move to address the longstanding financial disparities faced by minority entrepreneurs and provide them with the resources and support needed to succeed in today’s competitive business environment.
About Evals Equity Women's Fund
Evals Equity Women's Fund, founded and led by
Dr. Rashae Barnes, President and CEO, is dedicated to providing capital, mentorship, and educational resources to women and minority entrepreneurs. Dr. Barnes is an acclaimed brand strategist, public relations expert, serial entrepreneur, and angel investor.
Through her leadership, Evals Equity has established itself as a beacon for fostering diversity and inclusion in the entrepreneurial space. With a Doctorate in Leadership and Supervision from Virginia State University, Dr. Barnes has leveraged her extensive network and expertise to launch initiatives that close the economic gap for women of color. Evals Equity’s mission remains focused on creating access to capital and providing the tools necessary for founders to succeed.
About Prime One Home Loans/Central One Lending Group
Prime One Home Loans/Central One Lending Group, led by Dr. Benaisha Poole-Watson, Owner and CEO, is a premier direct lending institution that offers a broad range of lending services. With a focus on residential, commercial real estate, and business funding, the organization is committed to providing financial solutions that empower people of color.
Dr. Poole-Watson has made it her mission to ensure underrepresented communities have access to capital, offering personalized lending solutions that promote financial empowerment and generational wealth. Prime One Home Loans/Central One Lending Group prides itself on offering clients guidance, resources, and terms that help them reach their financial goals.
Partnership Details
The collaboration between Evals Equity Women's Fund and Prime One Home Loans/Central One Lending Group is set to revolutionize access to capital for underrepresented founders. This initiative aims to inject significant funding into minority communities, stimulating economic growth and fostering innovation. Here are the key components of this partnership:
- Funding Allocation: A total of $1 billionin capital will be made available to qualified underrepresented founders, with the goal of transforming entrepreneurial opportunities for those who have historically faced barriers to funding.
- Application Launch: The application process will officially open on Tuesday, October 1, 2024, following the formal announcement on National Black Funding Day. This is a monumental step towards economic equity.
- Website Enhancements: Central One Lending Group’s website will feature a dedicated "Business Funding" tab, providing an easy-to-navigate platform for entrepreneurs to apply. A unique tracking code (e.g., "Evals" or "Fund") will be implemented to monitor submissions and accurately calculate commissions for each application received.
Educational Component
Understanding that not all applicants will meet immediate funding qualifications, the partnership includes a robust educational initiative designed to elevate and prepare entrepreneurs for future success. Key elements include:
- Community Membership: Applicants who do not meet the current funding qualifications can opt to join a supportive community for a one-time fee. This membership will grant access to exclusive resources that can help them become eligible for future funding.
- Personalized Resources: Members of this community will receive tailored educational materials, financial mentorship, and other resources to increase their chances of qualifying for business loans or home financing in the future.
- Outcome Variability: Each participant’s success may vary, depending on individual circumstances, efforts, and engagement with the available resources.
Application Criteria
The funding and loan process will adhere to specific requirements to ensure transparency and qualification clarity. Below are the initial criteria for applicants seeking funding:
Home Loan Requirements:
- Credit Score: 580+ minimum
- Employment History: Must be a W2 employee, 1099 contractor, or self-employed with 2 years of consistent income.
- Debt-to-Income Ratio (DTI): No more than 50%
$0 Down Payment Requirements:
- Credit Score: 600+ minimum
- Employment History: W2 employee, 1099 contractor, or self-employed with 2 years of income consistency.
- DTI: Maximum of 56%
Business Loan / Business Line of Credit Requirements:
- Credit Score: 680+ minimum
- Business Financials: Minimum of 6 months of positive transactions, verified via business bank statements.
Application goes live to public Monday September 30th which is actually National Black Funding Day .
Significance of the Partnership
This partnership is more than just a financial collaboration—it is a significant step toward financial inclusivity for minority and underrepresented communities. By aligning Evals Equity’s commitment to empowering underrepresented entrepreneurs with Prime One Home Loans/Central One Lending Group’s financial resources and expertise, this initiative will:
- Promote Diversity: Encourage a more inclusive entrepreneurial ecosystem by providing capital to founders who have historically been marginalized.
- Stimulate Economic Growth: Inject much-needed capital into minority communities, fostering innovation, job creation, and overall economic development.
- Enhance Accessibility: Simplify the funding process with easy-to-use application tools, educational resources, and community support.
Looking Ahead: A Commitment to Long-Term Impact
The partnership between Evals Equity Women's Fund and Prime One Home Loans/Central One Lending Group is committed to ensuring the long-term success of underrepresented founders. As the program moves forward, plans include:
- Ongoing Support: Continued mentorship and financial guidance for entrepreneurs who receive funding.
- Program Expansion: Future plans include scaling the program to increase the capital pool and potentially widen the eligibility criteria.
- Community Engagement: Hosting workshops, seminars, and community events to educate and support entrepreneurs on their journey to success.
Contact Information
For more information about this groundbreaking partnership and how to apply for funding, please contact:
Evals Equity Women's Fund
Website: www.evalsequity.com
Email: info@evalsequitywomensfund.com
Phone: (302) 620-5627
This collaboration between Evals Equity Women's Fund and Prime One Home Loans/Central One Lending Group represents a pivotal moment in the quest for financial equality. By offering $1 billion in funding to underrepresented founders, this initiative not only levels the playing field but also creates an environment where innovation, diversity, and economic opportunity can thrive. Together, we are building a brighter, more inclusive future for minority entrepreneurs.
Media Contact
Organization: Evals Equity
Contact Person: Dr. Rashae Barnes
Website: https://evalsequity.com/
Email: rashae@barnesmediagrouppr.com
Country:United States
Release id:17394
