Many burgeoning Black entrepreneurs struggle to access capital and navigate the bureaucracy associated with owning a business. They have a local champion in Washington, D.C.
Congresswoman Kathy Castor organized a bus tour Thursday to spotlight Black-owned businesses in St. Petersburg. “We want to spend our Juneteenth out there telling their stories and encouraging our neighbors to support them,” she said.
Juneteenth became a federal holiday in 2021 and commemorates the official end of slavery in the United States. The tour included stops at Community Tech House, Successful Futures Tutoring Services and Central Station Barbershop and Grooming.
“A lot of our small businesses are not being seen,” said Renee Edwards, founder of the Saturday Shoppe. “The ones that don’t have the right documents, the ones that don’t have their taxes filed properly, the ones that have a low credit score – they are being left out.”
Attendees included City Councilmember Deborah Figgs-Sanders; Andrew Pink, district aide for Senator Darryl Rouson; Chris Hackney, president of small business lending for BayFirst Financial; Albert Lee, CEO of Tampa Bay Black Business Investment Corporation; Brad Miller, CEO of the Pinellas Suncoast Transit Authority (PSTA), which facilitated the trip; and Councilmember Corey Givens Jr.
Hackney noted his St. Petersburg-based bank doubled the number of Small Business Administration (SBA) loans processed for Black owners under the previous president. He said the new administration has increased restrictions.
“I bet you’re going to see a decline in those numbers,” Hackney said. “That’s why me and some of my other lending colleagues in the SBA space are taking so many trips to Washington (D.C).
“We’re leveraging (U.S) Rep. Castor to consult with the SBA on what changes need to stay and what changes need to go away – so that everyone has equal access to capital.”
Hackney said many underserved business owners often turn to online predatory lenders with exorbitant interest rates when they cannot access institutional funding. “The convenience comes at a cost. I’ve had borrowers cry on the phone because they don’t know how to get out of those loans.”
Successful Futures has served the community for over a decade, initially accommodating a few students at a time. Founder Doretha Edwards, also a math and science teacher at Maximo Elementary School, and her daughter and son now tutor 48 children at 3601 Central Ave.
When asked what the city could do to help support her business, Edwards said, “More funding would be awesome.” The money would allow her to purchase additional laptops and books.
“We have to time them based on laptop usage and stuff like that,” Edwards added. “Right now, I’m paying bills, and that’s it. I’m not really earning a profit. It’s really hard, but it’s being done.”
Figgs-Sanders said she would reach out to local organizations that donate technological equipment.
“A lot of it is making sure you’re connected because you’re busy teaching kids and tutoring,” Castor told Edwards.
Lynn Harrell Johnson deftly launched the Community Tech House when pandemic restrictions forced her salon to shutter. The world also transitioned to virtual work and meetings, and the digital divide widened throughout underserved communities.
Johnson receives computers from a previous employer, Valpak, and augments operational costs through the reopened salon. She teaches website development and coding, in addition to helping seniors with basic digital literacy, from an inviting storefront at 3059 18th Ave. S.
Johnson was inventorying laptops for distribution, once recipients prove they will put the equipment to use. “Those are not for me to sell … we train people here so they can find a job.”
Johnson hopes to hire additional staff who show a passion for helping others so clients “don’t feel intimidated.” She wants people to leave her workshops feeling like they “conquered their technology.”
Antonio Brown realized the impact that barbershops have on the community. He decided to foster literacy skills in Black boys through his business.
Brown’s nonprofit, the Competitive Readers Coalition (CRC), annually provides each child with 24 free books and haircuts through the Central Station Barbershop at 2325 Central Ave. Brown also partners with several local organizations to increase mental health awareness, promote financial literacy and help high school graduates learn how to code.
Brown said his shop provides youth with the “strength and ability to walk out of the door with their head held high, from a Black male’s standpoint.” He called Central Station a “great place to help build up self-esteem – you can believe that.”
“That’s why we want the boys to come in twice a month, so they can get a consistency going with us to help sharpen their minds and grow.”
This content provided in partnership with StPeteCatalyst.com
