How cash transfer beneficiaries build wealth in Kwara

A collaborative funding organization called the Runway Project gives loans to primarily Black entrepreneurs in the Oakland area. The initiative aims to address racial disparities in startup capital by reducing the financial risk of starting a business. The program also includes personalized support as a "wrap around" approach to the lending process.

An Oakland nonprofit incubator, The Runway Project, addresses racial and economic injustices in entrepreneurship by offering flexible loans for people of color and low-income individuals looking to start a business. Borrowers benefit from flexible loan terms and qualifications, both of which are usually barriers to entry for people of color in the business world.

Guaranteed basic income programs, which gained prevalence during the pandemic, have helped people make ends need and purchase necessities during times of need. The hope is to break down stigmas around welfare, dispel misconceptions, and ultimately produce data that compels national policy change.

Young adults aging out of foster care are given monthly cash payouts to provide a financial security net. The universal basic income program is meant to mitigate the high rates of homelessness amongst foster youths.

A program in Oakland, California, is helping Black women-owned companies survive the economic downturn since the onset of the pandemic. Known as Runway, the financial innovation firm provides $1,000 a month without any conditions. The monthly income allows historically-marginalized entrepreneurs to focus on how to pivot in order to survive the pandemic. The decision to provide cash payments to this particular demographic was based on research that highlights the lack of financial security nets in the Black community that prevent business owners from relying on their friends and family in times of need.

Families experiencing poverty have been given $1,000 each month in an effort to address the racial wealth gap through the Magnolia Mother's Trust program. The cash payments yield an increase of recipients who were able to earn their GEDs, cook fresh meals for their families, and meet all their basic needs. The payments began prior to the onset of the pandemic but have proven to be a crucial safety net.

A collaborative movement in Indonesia is creating job opportunities within the creative sector for those living with disabilities. Gerakan Kreabilitas holds workshops and events to provide business training through mentors who provide their expertise and business connections in supporting the micro-enterprises. The program also does outreach to local businesses and government officials to reduce barriers and stigmas faced by disabled Indonesians seeking work.

Black businesses in Mississippi are receiving a financial boost from a nonprofit that seeks to level the playing field for rural African-Americans in the state who have historically been overlooked when it comes to federal aid. Higher Purpose Co is a black-led economic justice nonprofit that has raised $400,000 for entrepreneurs and has received over 2,500 applicants. The nonprofit has given up to $5,000 to small businesses with 20 or fewer employees.

In 2016, the city of Rochester, NY partnered with Kiva—a crowd-funded microlender—to serve aspiring or established small-business owners. Their partnership offers interest-free loans, and already 20 of the loans have been fully repaid. This article looks at six different case studies of residents who have benefitted from the program.

A disproportionate of the world's money is concentrated in the pockets of a handful. Muhammad Yunus sees the importance of social business in helping change this trend and distribute wealth more evenly.