A Win for Hello Alice in Lawsuit Marking a Significant Boost for the Small Business Community

Court enters judgment in favor of all defendants and granted Hello Alice's motion to dismiss the case brought on by America First Legal

HOUSTON, May 28, 2024 /PRNewswire/ -- Hello Alice, the fintech platform connecting 1.5 million small businesses to capital and resources is pleased to announce the dismissal of the lawsuit brought against it by America First Legal. The suit, which attempted to undermine Hello Alice's commitment to provide equitable access to capital and support for underrepresented entrepreneurs, has been dismissed by a federal judge in Ohio. The resolution in the case marks a significant win for the broader small business community.

The judge in the case declared, "Plaintiffs fail to allege any injury in fact that would support their standing to seek either retrospective or prospective relief." In short, the judge found that the lawsuit did not allege a harm that could be remedied by the courts. The Court then stated that it "enters judgment in favor of all defendants."

"This resolution marks a pivotal moment not only for our company but for the broader small business community in the United States," said Elizabeth Gore, co-founder and President of Hello Alice. "Facing a labor shortage, heightened interest rates, and inflation, this country needs its small business owners, and they, in return, need the capital and resources that programs like Hello Alice provide. We are thrilled for the judgment in favor of Hello Alice, as this represents one less threat to our nation's small business community and economy."

"We are pleased by the resolution of this case. It beats back a meritless lawsuit and makes clear that the federal courts will not hear weak challenges such as these," said Neal Katyal, lead counsel from Hogan Lovells representing Hello Alice in the case. "The dismissal of this case is significant because the lawsuit would make it more difficult for diverse small businesses to compete in today's economy. The court ruled that this lawsuit is now over. The plaintiffs can try to appeal, but we are tremendously confident in our legal position, and are ready and willing to fight not just for Hello Alice, but the broader business community and ready to set an even broader precedent in the Court of Appeals."

Hello Alice significantly expanded its community in recent months, closed its Series C venture raise, and now supports 1.5 million small business owners, one of the largest SMB networks in the country. Hello Alice has broadened its suite of inclusive financial products and programs with the Hello Alice Small Business Mastercard, the Business Health Score, the Equitable Access Program and the $70 Million Equitable Access Fund, and Elevate the American Dream. Forty-nine grants under Elevate the American Dream have already been distributed this year to small businesses across the U.S., putting Hello Alice's grant funding at over $40 million. The latest funding round will contribute to the expansion of the Hello Alice AI-driven financial health services and Small Business Funding Center. This center connects owners with the capital they need to grow their small businesses, as well as the company's Equitable Access to Capital program, a commitment to ensure that all small businesses have access to the capital they need to cultivate sustainable enterprises that drive the national economy forward.

Following this decision by the courts, Hello Alice is more determined than ever to continue its mission of supporting small business owners. Throughout this legal process, the company has remained steadfast in its commitment to creating an inclusive ecosystem where every entrepreneur has the chance to succeed.

ABOUT HELLO ALICE
Hello Alice is a financial technology serving more than 1.5 million small business owners in all fifty states. Hello Alice is committed to equitable access to capital and to supporting any entrepreneur with a good idea. Hello Alice offers funding, education, tools, and curated opportunities. Working with enterprise business services, ecosystem partners, affiliates, and government agencies, Hello Alice provides its growing community with everything they need to grow their businesses. To learn more, visit www.helloalice.com, as well as Twitter, LinkedIn, Instagram, and Facebook.

Contact:
Jennifer Laski
[email protected]

SOURCE Hello Alice