Serena Williams donates jewelry profits to black small-business owners

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Serena Williams donates jewelry profits to black small-business owners

While the “Black Lives Matter” slogan is still trending not only in the USA but in various parts of the world, Serena Williams decided to donate all the July profits obtained from selling her jewelry company’s new necklace to black small-business owners in an attempt to alleviate the damage inflicted by the pandemic.

The announcement was displayed on the Serena Williams Jewelry Instagram page. “Our exclusive capsule Unstoppable is here! Now through August 5, we’re proudly donating all net proceeds of our Unstoppable Collection to Opportunity Fund’s Small Business Relief Fund, to provide support directly to black small-business owners”.

⁠ The necklace is engraved with the word “unstoppable”. The reason? Read on: “The design is a polished circle — a symbol of serenity and unity — with one glittering round diamond. We thought a lot about which single, meaningful word would energize us most right now...

we chose "unstoppable" because it's so optimistic and strong — and who doesn't need that kind of inspiration?⁠” ⁠⠀ The necklace costs $100 and all the profits made until 5th August will be donated.

A post shared by Serena Williams Jewelry (@serenawilliamsjewelry) on

How will Black small-business owners benefit from Serena Williams’ donation

Opportunity Fund’s Small Business Relief Fund was established to lend a hand to owners that have been affected by the COVID-19 pandemic.

The fund aims to help especially women, people of color, and immigrants, whose businesses have gone dry during these tough times the world is going through. According to the fund’s website, Serena Williams’ support will help small-business owners in three ways:

  1. Loan Payment Relief: Affected businesses can skip a payment on their loan for up to three months.

    The payment will either be forgiven entirely or tacked onto the end of the loan, depending on how well the business is situated to bounce back.

  2. Affordable Capital: Borrowers in need of capital can access funding, ensuring businesses avoid taking on high-interest debt from unscrupulous lenders that may be preying upon small businesses right now.

  3. Expert Advice: Business owners navigating uncharted waters can receive free, expert technical assistance to restructure debt, financial and tax advice, marketing strategies, legal support, and human resource and layoff aversion support.