The Runway ProjectLoan provided by the Women’s Capital Collaborative Oakland, California www.therunwayproject.org
The Runway Project (TRP) bridges the racial wealth gap by developing innovative funding tools for early-stage African-American entrepreneurs in industries ranging from skincare to delivery services.. The pilot project, Runway Project Oakland, provides affordable loans to promising African-American entrepreneurs, primarily women, in the counties around Oakland, California. They also provide culturally relevant technical support and a community of mentors. COVID-19 Impact: Because TRP works with small business owners, these enterprises are experiencing a significant loss of revenue during the COVID-19 crisis. In addition to loss of business revenue and personal income, entrepreneurs are also experiencing negative economic effects due to the shelter-in-place restrictions – resulting in loss of childcare, schools, and support; upheaval in entrepreneurs’ housing stability; and severe anxiety and stress on borrowers and their families.