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New
York, NY – March 2020 / Newsmaker Alert / Nearly 150 applicants
vied for a SILVER & RILEY grant. Applications were narrowed down to
five applicants by nine judges which included the Silver & Riley team
and advisors. The five finalists were then interviewed via phone, after
which three winners were chosen. Two $1,000 grant winners and an additional
$500 grant was awarded thanks to additional grant funding received.
Winners were chosen based
on criteria including passion, business model and scalability of impact,
both for the brand and the impact on others. Of the process, founder Lola
Banjo states, “All the applicants were impressive; we wish we were able
to award more grants. We look forward to growing the grant amounts as Silver
& Riley grows. Awarding these grants in the midst of the current
economic disruptions due to COVID-19 was timely and necessary. Small businesses
will no doubt take a hit, and as a new business ourself, no one understands
that better. It’s important that we continue to celebrate and support female
entrepreneurs both by giving them props and the financial support they
need to keep going.”
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Lola Banjo was inspired
by her late mother and her own ten-year journey to launching Silver &
Riley to build an avenue to help other women entrepreneurs lessen the impact
that a lack of or limited capital can have. Watching her mother’s influence
on her community in Lagos, Nigeria and seeing her help several women small
business owners grow their businesses with small amounts - $100 here, $200
there - but that made a big impact, influenced her. What she learned is,
for a small business, typically with many financial constraints, no amount
is too small.
The Silver & Riley Female
Entrepreneurship Grants are free cash infusions, as opposed to business
credit cards or small-business loans that must be paid back. They are made
possible by the brand’s “Buy
1, Give 5” program, which was incepted since the brand’s October 2019
launch. Five percent of all sales go towards the program which currently
splits the funds evenly between supporting female entrepreneurship in the
United States and working with non-profit partners in emerging economies
to support business literacy and entrepreneurship for women.
$1,000 Grant Winners
Jam & Rico Founder
Lisette Ffolkes
Established since June 2016,
Jam
+ Rico is a fashion jewelry company providing bold, unique and colorful
design. Growing up with the influence of her culture Ffolkes says she created
Jam + Rico (Jamaica and Puerto Rico) “to dive deeper into my love of designing
and the Caribbean.” In her submission Ffolkes talks about struggling to
keep up with the demand for Jam + Rico. With her grant she hopes to be
able to expand her inventory.
Girls Going Global Founder
Martice Sutton
Girls
Going Global (GGG) is a social enterprise organization with a mission
to increase the ability of girls of color to compete in the global economy
through access to cultural competency education, leadership training, and
international travel experiences. Their travel camps and training programs
provide the framework for girls of color to become thoughtful and compassionate
global leaders. GGG has traveled with over 150 U.S. students since August
2012. And, has impacted over 1,000 girls around the world. Sutton plans
to put her $1,000 grant towards operating costs and strengthening the educational
component of the program, especially in a time when the travel component
is on hold due to COVID-19.
$500 Grant Winner
Embracing The Crown
Founders Co Founders Jadea
Asante and Shelby Adkins. Embracing
The Crown uplifts, empowers, and unites women of color. What started
as a college blog documenting their journey through womanhood, has expanded
into a beautiful movement. The brand aims to create safe spaces that encourage
healing, community connection, and growth. With their grant they hope to
sponsor their Project Prom Initiative. It is a two part program where Embracing
The Crown educates young ladies at local schools on prom safety and confidence
building. One deserving senior is honored with a full experience prom package
(dress, nails, hair +). The initiative is now two years running.
About Silver & Riley
Ten years of planning, research
and development birthed a new line of classic and timeless luxury goods
cut from the best quality leather available. Made in Italy, the Silver
& Riley collections feature premium full grain leather, designed
to develop a rich patina over time. The line includes stylish and functional
leather goods for men and women, for work, travel and everyday use.
Lola
Banjo, Founder and Chief Designer, incorporated several years of traveling
for business as a Strategist, her love for fashion, her background in engineering,
innovation & design to create functional products that are also incredibly
stylish. Each product is thoughtfully crafted and offers maximum utility.
The fashion bags ranging in prices from $65 to $595, can be worn in multiple
ways; the belt bag can be worn as a clutch. The Executive Convertible handbag
can be worn four ways. When the brand launched in October of 2019, they
set out to always give back through their #BUY1GIVE5
program. The brand gives back 5% of their quarterly revenue to women owned
businesses and partner organizations that support female entrepreneurship
in developing economies.
Get to know the brand. Visit
www.silverandriley.com
follow @SilverandRiley on Instagram,
Twitter
and Facebook. Learn
more about the #BUY1GIVE5
program here.
For media inquiries contact:
Eddie
Désormeau
DE|1989
518-495-3479 |
