St. Paul – In celebration of Black Business Month, the Center for Economic Inclusion is thrilled to announce a groundbreaking investment of over $2 million in forgivable loans awarded to Black and Latina-owned businesses through its Vanguard Accelerator & Fund. As national attention grows around economic inclusion, this initiative is set to transform Minnesota’s economy by empowering minority-owned enterprises to thrive in corporate and government supply chains.
These businesses are not only fueling job creation but also building generational wealth within their communities. With corporate America pledging over $80 billion towards supplier diversity, the Vanguard Accelerator & Fund ensures Minnesota plays a central role in the wealth-building opportunity by preparing these businesses to meet increasing demand and scale for sustainable growth.
"This is more than an investment—it's a commitment to creating a bold, diverse, and just economy," said Tawanna A. Black, Founder and CEO of the Center for Economic Inclusion. "These businesses are job creators, innovators, and a driving force behind inclusive economic growth. By supporting them, we are laying the foundation for Minnesota’s economy to be more competitive and equitable for everyone."
Economic Impact by the Numbers:
The Vanguard Fund’s first $1.6 million investment created 44 jobs (23 full-time, 21 part-time), with wages averaging $33.55/hour.
Vanguard businesses secured $1.3 million in debt for growth and $1.8 million in equity, while obtaining 47 corporate and government contracts valued at $2.27 million.
100% of businesses indicated an increase in clients and increased assets exclusive of the forgivable loan.
This latest round of funding is expected to drive even greater results.
Transforming Business and Communities: Highlighted beneficiaries of this round of forgivable loans include:
Blackbird Revolt (Terresa Moses): A creative consulting agency amplifying marginalized voices through design.
BLCK Press (Georgia Fort): A pioneering media company tackling the challenges of modern journalism.
Casamia Custom Build & Design (Belkis Valdivia): Leading innovations in construction with a focus on women and underrepresented communities.
These businesses, and others supported by the Vanguard Accelerator & Fund, are revolutionizing their industries, with impacts that ripple through their communities by providing jobs, fostering innovation, and breaking down barriers for future entrepreneurs.
Celebrating Innovation and Growth:
As a direct result of these investments, entrepreneurs are expanding their teams, diversifying revenue streams, and building a workforce that reflects the diversity of the community they serve. Belkis Valdivia, owner of Casamia Custom Build & Design, remarked, " This forgivable loan is more than just funding; it’s a chance to do what I love most—empower people, create beautiful spaces, and make a difference. I’m excited about the future and grateful for the opportunity to take LBR Partners LLC to the next level. This forgivable loan means more than just financial support; it's a catalyst for growth, a chance to empower others, and an opportunity to make a real impact in our community and industry."
By spotlighting the stories of these trailblazers, the Center for Economic Inclusion underscores the importance of inclusive economic growth. As these businesses expand, they inspire others, create sustainable change, and forge new partnerships that propel regional and national economic transformation.
The businesses receiving Vanguard Fund Forgivable Loans include:
Blackbird Revolt – Terresa Moses
BLCK Press- Georgia Fort
LBR Partners (New Name: Casamia Custom Build & Design Co.)- Belkis Valdivia
Meraz Vocational Consulting – Veronica Alba
Midwest Select Contracting- Edna McKenzie
Moltron Builders – Babette Buckner
NEOO Development, LLC – D’Angelos Svenkeson
Technologist Computer – Ini Augustine
Total Healthcare Business Solutions - Constance Bembenek
Victory Business Solutions- Brittany Howard
The Center for Economic Inclusion’s Vanguard Accelerator & Fund forgivable loans, accelerator services, coaching and supplier diversity support are made possible through the generous investment and partnership of JPMorgan Chase & Co. – The Challenge, GHR Foundation, and the Minnesota Department of Employment and Economic Development’s (DEED) SBAB, SBAP and Main Street Revitalization Programs.
Additional Quotes from Accelerator Awardees
"As the Founder and CEO of Total Healthcare Billing, I am deeply honored and grateful for the support from the Center for Economic Inclusion. This funding represents a vital partnership that enables us to invest in advanced technology, enhancing our medical billing solutions for our clients. We are thrilled about the opportunity to expand our services and create new job opportunities, ultimately improving the healthcare billing experience for everyone we serve." - Constance Bembenek – Owner of Total Healthcare Business Solutions
"This investment will drive economic growth, create jobs above the living wage, and help close the racial wealth gap. It comes at a critical time for our media company as the entire journalism industry navigates complex funding challenges. This investment will drive economic growth, create jobs above the living wage, and help close the racial wealth gap. It comes at a critical time for our media company as the entire journalism industry navigates complex funding challenges."- Georgia Fort, founder and CEO, BLCK Press. " Georgia Fort, founder and CEO, BLCK Press.
”We are thankful to have received this financial opportunity! With the mentorship from the Center for Economic Inclusion and this forgivable loan, we will be able to expand our team and purchase equipment to take on larger scale projects and community-engaged opportunities." Terresa Moses, Co-Founder & Creative Director
“Receiving the Vanguard forgivable loan is an incredible opportunity for LBR Partners LLC, and it aligns perfectly with our mission and values. Here’s how this forgivable loan will make a meaningful impact:
• Creating More Job Opportunities: One of my biggest passions is creating job opportunities, especially for women and people from underrepresented communities. With this forgivable loan, we can hire more talented individuals who are eager to learn and grow in the construction industry. By expanding our team, we’re not just building homes; we’re building careers and changing lives. I’m committed to fostering an inclusive environment where everyone has the chance to succeed.
• Partnering with Women-Owned Businesses: Collaboration is key to our success. This forgivable loan allows us to forge even stronger partnerships with other women-owned businesses. Working together, we can support each other’s growth and create a network of powerful, innovative companies that push the boundaries of what’s possible in construction. I’m passionate about lifting each other up and showing the world what women in this industry can achieve.
• Investing in Innovation: I believe in staying ahead of the curve, and this forgivable loan gives us the resources to invest in cutting-edge technology and sustainable practices. Whether it’s the latest project management software or eco-friendly building materials, these tools help us deliver the highest quality work to our clients. It’s all about pushing the envelope and setting new standards for excellence.
• Giving Back to the Community: Community is at the heart of everything we do at LBR Partners LLC. With this forgivable loan, we can launch more initiatives that support local development and provide training for those interested in construction. I want to use our success to give back, create opportunities, and make a positive impact right here in our own backyard.
• Growing Our Brand: The forgivable loan also helps us share our story and values with a wider audience. I’m excited to use these funds to enhance our marketing efforts, showcasing not just the beautiful homes we build but the incredible team behind them and the community we serve. By highlighting our commitment to quality, diversity, and community, we attract clients who share our vision and values.
• Ensuring Sustainable Growth: Finally, this forgivable loan is about ensuring the long-term success of LBR Partners LLC. It gives us the financial stability to take on larger projects, invest in our team, and continue growing without compromising our values or the quality of our work. It’s all about building a legacy that we can be proud of.
This forgivable loan is more than just funding; it’s a chance to do what I love most—empower people, create beautiful spaces, and make a difference. I’m excited about the future and grateful for the opportunity to take LBR Partners LLC to the next level. (Because of this forgivable loan our rebrand is possible!) This forgivable loan means more than just financial support; it's a catalyst for growth, a chance to empower others, and an opportunity to make a real impact in our community and industry.”- Belkis Valdivia – LBR Partners (Casamia Custom Build & Design Co.)
“This investment means new life blood, helping NEOO transition from the early lessons of entrepreneurship into a healthier, more stable and thriving business.” – D’Angelos Svenkeson, NEOO Development, LLC
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About the Center for Economic Inclusion
Founded in 2017, the Center for Economic Inclusion is the nation’s first organization solely dedicated to building racial wealth equity by equipping employers and policy makers to build anti-racist organizations and communities and measuring the economic impact of these actions in shared accountability with Black, Indigenous, Asian, and Latino investors, workers and business owners, ensuring the long-term vitality of local regions across the nation. Learn more at www.centerforeconomicinclusion.org.
About the Vanguard Accelerator & Fund
The Vanguard Accelerator & Fund empowers Black, Indigenous, and Latina-owned businesses in high-growth sectors to secure corporate and government contracts, scale their operations, and create well-paying jobs. By investing in these businesses, the Fund is transforming Minnesota into a model for inclusive economic growth. Read more about the case for investing in Project Vanguard solutions here: https://www.centerforeconomicinclusion.org/pv-research