SalonCentric, in partnership with L’Oréal USA, has launched the 2024 Inclusive Beauty Fund, which provides financial support and resources to small businesses and entrepreneurs across the beauty industry. Administered in collaboration with the NAACP’s Economic Empowerment Fund and the Hispanic Federation, this year’s 40 grant recipients will receive $10,000 grants, which will be announced in April. Grant applications are open now and will remain open till March 29, 2024.
With the 2024 launch, SalonCentric and L’Oréal USA will have now provided a total of 72 grants (32 grants in 2023 and 40 in 2024) to beauty entrepreneurs since 2021. The grant program was formally launched because beauty businesses were some of the most acutely impacted by the economic fallout of COVID-19. During the 2021 grant cycle, SalonCentric and L’Oréal USA partnered with the NAACP to provide much-needed funding and business mentoring to 33 small beauty businesses. These funds were used to grow beauty business inventories, refine marketing strategies and open new retail locations.
“The grant came at the perfect time for us,” said LaToya Stirrup, Co-Founder/CEO Kazmaleje, a recipient of an Inclusive Beauty Fund grant in 2021. It truly provided us with the fuel to invest in inventory, as well as marketing. The resources were really the linchpin for us. As a business it provided us with a gateway to connect with salon owners and stylists in a whole new way.”
While progress has been made, many beauty entrepreneurs are still facing economic hurdles and headwinds. These challenges limit their potential to scale their businesses and provide essential beauty services to consumers nationwide. To that end, we’ve expanded this year’s program to include NGO partner Hispanic Federation and grant administrator GlobalGiving, amplifying the reach and impact of the program. In addition to one-time funding, grantees receive professional mentorship and business development support with the participation of top executives and educators/artists from both L’Oréal USA and SalonCentric.
“The Inclusive Beauty Fund is one of the cornerstones of L’Oréal’s broader commitment to advancing inclusivity within the beauty industry,” said Liliahn Majeed, Chief Diversity, Equity & Inclusion Officer, North America, L’Oréal Groupe. “We value the role small businesses play in bringing vital products and services to consumers across all backgrounds and lived experiences and we want to do our part to support beauty businesses and entrepreneurs who are working to navigate economic challenges.”
Potential applicants can apply for the Inclusive Beauty Fund by visiting the below links. Applications for the Inclusive Beauty Fund will be administered by both the NAACP and Hispanic Federation, with both awarding 20 one-time grants of $10,000. All submissions must be conducted through either the NAACP or Hispanic Federation’s websites at the below links.
- To apply via the NAACP, please use this link: https://app.helloalice.com/grants/naacp-x-l-oreal-inclusive-beauty-fund-round-2
- To apply via Hispanic Federation, please use this link: https://www.hispanicfederation.org/images/pdf/HF_x_LOreal_Inclusive_Beauty_Small_Business_Grants_2.pdf