SheaMoisture and Tina Knowles-Lawson have partnered together to create the Salon Innovation Fund — a program that will help Black aspiring entrepreneurs turn their side-hustle into a business and close wealth gaps in their communities.
“Partnering with SheaMoisture to launch the Salon Innovation Grant and support Black stylists underscores our shared commitment to uplift our community and help entrepreneurs rebuild their financial footing and pursue their dreams,” Knowles said in a press statement. “As a previous salon owner and stylist, I’m honored to be a part of this initiative.”
“This grant awards stylists that are using connections and experiences from their salon chair to innovate products and services that not only support the needs of their clients but can create wealth and opportunities for their families and communities,” she later noted.
Essentially, the fund’s goals are to help diversify and scale new beauty offerings, help Black business owners develop innovations, and to introduce multiple streams of income to Black businesses as a means of closing the wealth gap.
SheaMoisture emphasized wanting to help the Black community “build generational assets.”
“The Salon Sessions Fund will provide $10,000 grants to 5 Black licensed stylists to help grow, scale, and transform the innovations that many created out of necessity to subsidize income loss during the pandemic,” a press release detailed.
From now until Oct. 18, applications for the program are open.
“At SheaMoisture, we work to serve our community and re-invest in them as they navigate the ramifications of the past 18 months,” noted Simone Jordan, Head of Brand Purpose and Partnerships. “The Salon Innovation Grant is our way of continuing our mission of closing the racial wealth gap with investments that support Black entrepreneurs. We believe opportunities must be inclusive of hair stylists, one of SheaMoisture’s core community members. This is a group often overlooked as entrepreneurs, yet as business owners and salon employees were hit the hardest during the pandemic with business closures.”
In addition to the fund, celebrity hairstylist Neal Farinah will be joining Knowles in a new YouTube series called Salon Sessions, where the two will share their personal stories as stylists and salon owners.
“It’s inspiring to be a part of SheaMoisture’s Salon Sessions campaign to highlight and fund Black salon owners and stylists,” Farinah expressed. “SheaMoisture understands the community’s needs and it’s exciting to see this partnership come to life. From my own personal experience, I know that it will have great impact.”
If you or someone you know would like to apply, find the application here.