Fearless Funding is Halted After Fighting in Court

For many years, black women have fought to climb the ladder, to reach goals that we never had the chance to walk through because of the lack of resources we have been handed. For years, we have proven not only to ourselves but to others that look like us that we are capable of being just as business savvy and creative as the next man.

But where do we go to find resources, people who will help lead us in the direction of success? Fearless Funding is for black women who want to start something bigger, it allows them to reach goals and be in touch with resources that they aren’t able to reach because they aren’t aware of them. Fearless Funding is for women of color and it helps to bridge the gap in venture capital funding for women. It was created by black women for black women and up until recently it was also something that could’ve been lost for us.

In August, the lawsuit against Fearless Funding was allegeding explicit racial exclusion which caused affirmative action wars in the workplace. Which created Edward Blum to seek out their business because he believes that since the victory he was able to oblige in the colleges about affirmative action, he can now press forward in corporate America.

On Tuesday, according to US Today, U.S. District Court Judge Thomas Thrash Jr. refused to block the grant and stated that the grant was a form of the First Amendment. Edward Blum who is a part of the anti-affirmative act expressed a setback in the American Alliance for Equal Rights, he states that the reason why many companies such as Walmart and other corporations are having racial problems is due to the fact that we are unable to “stand ground” in stating that everyone is equal. According to the courts, it seems as though Blum filed an appeal 7 minutes after the ruling.

For the Fearless Funding, this was an exceptional win for the grant because they will still be able to grant other women that look like them more funding and resources so it can help kick start their business and their future. It has already helped many businesses such as Slutty Vegan & Beauty Brand Live Tint to start their business and grow.

Alphonso David who is on the counsel of Fearless Funding stated that there is no law that restricts women of color from obtaining grants to capitalize their business. He continues to say that the hard truth of the matter is that there are many black women and women of color who are under-resourced and Fearless Funding is a corporation that helps build them up and helps them to obtain the resources they need. He discloses that they are very pleased with the ruling.

There were many supporters of the Fearless Funding that arrived on Tuesday to be in support of the Judge’s ruling only to be surprised that they were still able to continue to bless black women and women of color.

This is only the start of something that we could possibly be fighting awhile but right now every black woman and woman of color has the ability to obtain more than the 1% of funds and to go after exactly what you deserve when step in with Fearless Funding.

FEARLESS FUNDING IS HALTED AFTER DECISION ON SATURDAY

On Saturday, U.S. Circuit Judge Charles R. Wilson halted the Fearless Funding program after it was granted by the U.S. District Judge Thomas Thrash Jr. last Tuesday. It seems as though Judge Charles R. Wilson was not happy with the courts decision on refusing to block the grant. In fact he stated that “it is a pervision of Congressional intent to use the law against a remedial program whose purpose is to bridge the gap in venture capital funding for women of color founders'”, he continues to state that it has been a gap that is the result of of centuries of intentional racial discrimination.

Alphonso David said that he respectfully disagrees with the halt of the program but they are still willing to fight this fight. The Fearless Funding has helped more than 41 businesses that has been worth $4 million in grants. They will still work to help black businesses. Many supporters like Blum who’s pockets run deep will continue to fight alongside Fearless Funding in hopes that they can fight the appeal held against them.

Let us know your thoughts on Fearless Funding being halted in the comments below.

Main Image Credit: Fearless Funding

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