N.J. foundation invests $1M for unconventional loans to support Black-owned businesses

The Pascale Sykes Foundation, an organization formed to help working class families thrive, announced Wednesday it is investing in Black business enterprises in New Jersey. The foundation said it is donating $1 million to the Equitable Small Business Initiative, facilitated by the African American Chamber of Commerce of New Jersey and New Jersey Community Capital, which it said will expand entrepreneurial opportunities for Black-owned businesses in the state.