Black-owned businesses faced the highest rejection rate for loans in 2024, according to a recent analysis by LendingTree. Nearly 2 in 5 (39%) of Black founders were denied when applying for loans, lines of credit, or merchant cash advances. Hispanic business owners also faced high levels of rejection, with a 29% rejection rate. Comparatively, only 1 in 5 (18%) of white-owned businesses experienced rejection. Black-owned businesses facing loan rejections Black-owned founders have always had to work significantly harder than their white peers. These latest statistics underscore the challenges faced by
Apple has removed ICEBlock and several similar apps from its App Store after government officials raised concerns about safety risks linked to tools that let users track US Immigration and Customs Enforcement (ICE) agents. The growth of ICE-Tracking Apps A growing number of mobile apps are helping immigrants stay safe amid ICE deportations, providing critical information such as “Know Your Rights” guides and legal aid resources. Among them was ICEBlock, which allowed users to anonymously report sightings of ICE agents in their area, including descriptions of what the agents were wearing. ICEBlock quickly gained
Tabitha Brown says her business has taken a “major hit” following boycotts of Target earlier this year. The backlash came after Target announced in January 2025 that it would end its diversity, equity, and inclusion (DEI) initiatives, including programs supporting Black- and minority-owned brands. Brown, who sold home décor and hair care lines through the retailer, has since pivoted with the April launch of her Tab & Chance fragrance, sold directly to consumers. Target Boycott affecting Black Businsesses When the boycott was announced, Brown said she understood the desire for
The Root, an online news and media website, will be owned by a Black woman for the first time. Democratic political strategist and CNN commentator, Ashley Allison, announced that she is acquiring The Root from G/O Media, a digital media holding company controlled by a private equity firm. CNN reported that Allison said she will invest in video content, build new partnerships with experts, and launch in-person experiences for The Root’s readers. The Root’s history In 2008, Harvard University professor Henry Louis Gates Jr. and Donald E. Graham launched The
The Fearless Fund has launched a new initiative one year after settling a lawsuit with the American Alliance for Equal Rights (AAER). The announcement of Fearless Global Initiative was made at an event hosted by The Fearless Fund, according to The Atlanta Journal-Constitution. “This is (as) good for the white Kentucky coal miner as it is the Latino California farmworker,” Founding Partner and CEO Arian Simone told The Atlanta Journal-Constitution. “Demographic equity means delivering the resources, the financial support, at a scale that reflects the population. This is something we
During Mafiathon 3, Kai Cenat released a trailer for a movie featuring himself and comedians Kevin Hart and Druski. The movie will be a horror-comedy film about streamers titled “Livestream From Hell,” directed by David Janoff. Mafiathon is a series of month-long, non-stop live streaming events hosted by Cenat, where fans can subscribe to support and keep the event going. Kai Cenat’s movie The announcement was made during a sleepover-style broadcast hosted at Hart’s house. “My n*** are going to be movie stars,” Hart said, as reported by Complex. “You
Vibe-coding startup Anything has raised $11 million in financing at a $100 million valuation, led by Footwork, with additional backing from Uncork, Bessemer Venture Partners, and M13. Founded by former Google colleagues Dhruv Amin and Marcus Lowe, the platform lets anyone build and monetize an app through vibe coding — a technique where users provide an AI assistant with “vibes” or natural-language descriptions, and the assistant generates, refines, and debugs functional code. The Viral AI App Builder Anything went live on August 7, the same day as GPT-5, and reached
Shield, a crypto neo-bank, has raised a $5 million seed round led by Giant Ventures to help businesses send and receive money across borders more quickly and affordably. CEO Emmanuel Udotong told TechCrunch that he and his team launched Shield as mainstream uses for crypto were scarce, while “bad actors” were dominating the space. Shield’s goal, he said, is to bring blockchain into the real economy by solving real-world problems. How Shield Works Shield was founded in 2022 by Udotong, his brother Isaiah, and their college friend Luis Carchi. The
Ariel Alternatives has acquired Groome Industrial Service Group, a provider of industrial cleaning and maintenance solutions. JPMorgan Chase & Co. joined the deal with a minority stake through its asset management division. Founded by business leader Mellody Hobson, Ariel Alternatives is the private equity arm of Ariel Investments, one of the largest Black-owned money managers in the US. The acquisition will help Groome, which employs more than 900 people across more than 20 US sites, expand its market share by tapping into the firm’s ties in the energy and utilities
Career Karma, the app and community that has helped thousands transition into tech careers, has been acquired by New York-based student platform Climb Credit. Ruben Harris founded Career Karma in 2018 alongside twin brothers Artur and Timur Meyster, building on the success of their earlier podcast that introduced newcomers to the tech industry. With this acquisition, Career Karma’s mission to expand access to tech careers takes on a new scale, helping prospective students gain training programs and career opportunities before and after they graduate. About Credit Karma Before launching Career Karma,
