Business

Harris Promises 1 Million Forgivable Loans for Black Businesses

As she continues to try to connect with Black male voters, Vice President Kamala Harris on Monday promised to offer 1 million business loans to Black entrepreneurs. The Harris campaign announced the plan via its website, which notes “Donald Trump is a serious threat to the lives of Black men.” These forgivable loans could reach as high as $20,000 in value, the site reads. “Vice President Harris is laying out an agenda to give Black men the tools to build wealth and achieve financial freedom, lower costs for themselves and their families, and protect their rights—addressing the issues that Black men across the country have told her are their top concerns,” the campaign wrote.

Published

1 year ago

October 21, 2024

Oakland Post

U.S. Vice President Kamala Harris said the loans would be in amounts up to $20,000. Official photo.

By Jackson Walker
CBS News Austin

As she continues to try to connect with Black male voters, Vice President Kamala Harris on Monday promised to offer 1 million business loans to Black entrepreneurs.

The Harris campaign announced the plan via its website, which notes “Donald Trump is a serious threat to the lives of Black men.” These forgivable loans could reach as high as $20,000 in value, the site reads.

“Vice President Harris is laying out an agenda to give Black men the tools to build wealth and achieve financial freedom, lower costs for themselves and their families, and protect their rights—addressing the issues that Black men across the country have told her are their top concerns,” the campaign wrote.

Harris’s economic plan centers on wealth-building and supporting Black entrepreneurship. Her administration would provide 1 million forgivable loans, each up to $20,000, to help Black men and others who have faced significant barriers to starting a business.

By partnering with community banks and mission-driven lenders, Harris aims to make capital accessible to Black entrepreneurs looking to launch or expand businesses in fields ranging from technology to landscaping and beyond.

Additionally, Harris has proposed a significant expansion of the Small Business Startup Tax Deduction, increasing it from $5,000 to $50,000, which would allow Black entrepreneurs to offset startup costs.

She also plans to boost access to venture capital, low-interest loans, and incubators specifically for Black-owned businesses.

Recognizing that Black entrepreneurs are frequently denied credit, Harris’s plan includes reforms to expand affordable banking services and crack down on hidden fees that inhibit wealth accumulation in Black communities.

Other initiatives laid out in the release include launching a “National Health Equity Initiative” specifically targeting Black men. The campaign also touted its support of legalizing marijuana and lowering rent prices.

“Trump’s Project 2025 Agenda doubles down on his mistreatment of Black men and their families,” the campaign wrote of its political opposition. “He will erase four years of financial gains and job growth for Black men and leave their communities worse off for it.”

The proposal is just one of several initiatives Harris has proposed to court those frustrated by the state of the economy. The vice president also suggested in September she would offer $25,000 in federal down payment assistance to all first-time homebuyers.

“I grew up a middle-class kid,” Harris said during a conversation with the National Association of Black Journalists. “It was only by the time I was a teenager that [my mother] could afford to buy her first home.”

NNPA Newswire contributed to this report.

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Oakland Post: Week of February 25 – March 3, 2026

The printed Weekly Edition of the Oakland Post: Week of – February 25 – March 3, 2026

Published

3 days ago

March 1, 2026

Oakland Post

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Chase Oakland Community Center Hosts Alley-Oop Accelerator Building Community and Opportunity for Bay Area Entrepreneurs

Over the past three years, the Alley-Oop Accelerator has helped more than 20 Bay Area businesses grow, connect, and gain meaningful exposure. The program combines hands-on training, mentorship, and community-building to help participants navigate the legal, financial, and marketing challenges of small business ownership.

Published

2 weeks ago

February 21, 2026

Oakland Post

Bay Area entrepreneurs attend the Alley-Oop Accelerator, a small business incubation program at Chase Oakland Community Center. Photo by Carla Thomas.

By Carla Thomas

The Golden State Warriors and Chase bank hosted the third annual Alley-Oop Accelerator this month, an empowering eight-week program designed to help Bay Area entrepreneurs bring their visions for business to life.

The initiative kicked off on Feb. 12 at Chase’s Oakland Community Center on Broadway Street, welcoming 15 small business owners who joined a growing network of local innovators working to strengthen the region’s entrepreneurial ecosystem.

At its core, the accelerator is designed to create an ecosystem of collaboration, where local entrepreneurs can learn from one another while accessing the resources of a global financial institution.

“This is our third year in a row working with the Golden State Warriors on the Alley-Oop Accelerator,” said Jaime Garcia, executive director of Chase’s Coaching for Impact team for the West Division. “We’ve already had 20-plus businesses graduate from the program, and we have 15 enrolled this year. The biggest thing about the program is really the community that’s built amongst the business owners — plus the exposure they’re able to get through Chase and the Golden State Warriors.”

According to Garcia, several graduates have gone on to receive vendor contracts with the Warriors and have gained broader recognition through collaborations with JPMorgan Chase.

“A lot of what Chase is trying to do,” Garcia added, “is bring businesses together because what they’ve asked for is an ecosystem, a network where they can connect, grow, and thrive organically.”

This year’s Alley-Oop Accelerator reflects that vision through its comprehensive curriculum and emphasis on practical learning. Participants explore the full spectrum of business essentials including financial management, marketing strategy, and legal compliance, while also preparing for real-world experiences such as pop-up market events.

Each entrepreneur benefits from one-on-one mentoring sessions through Chase’s Coaching for Impact program, which provides complimentary, personalized business consulting.

Garcia described the impact this hands-on approach has had on local small business owners. He recalled one candlemaker, who, after participating in the program, was invited to provide candles as gifts at Chase events.

“We were able to help give that business exposure,” he explained. “But then our team also worked with them on how to access capital to buy inventory and manage operations once those orders started coming in. It’s about preparation. When a hiccup happens, are you ready to handle it?”

The Coaching for Impact initiative, which launched in 2020 in just four cities, has since expanded to 46 nationwide.

“Every business is different,” Garcia said. “That’s why personal coaching matters so much. It’s life-changing.”

Participants in the 2026 program will each receive a $2,500 stipend, funding that Garcia said can make an outsized difference. “It’s amazing what some people can do with just $2,500,” he noted. “It sounds small, but it goes a long way when you have a plan for how to use it.”

For Chase and the Warriors, the Alley-Oop Accelerator represents more than an educational initiative, it’s a pathway to empowerment and economic inclusion. The program continues to foster lasting relationships among the entrepreneurs who, as Garcia put it, “build each other up” through shared growth and opportunity.

“Starting a business is never easy, but with the right support, it becomes possible, and even exhilarating,” said Oscar Lopez, the senior business consultant for Chase in Oakland.