Bunker Labs Shares Curated List of Black-Owned Businesses to Support During Black History Month and Beyond

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Feb 03, 2021, 10:05 ET

CHICAGO, Feb. 3, 2021 /PRNewswire/ -- In honor of Black History Month, Bunker Labs has curated a list of Black-owned small businesses in its current Veterans in Residence cohort. Bunker Labs invites the community to support and buy from these entrepreneurs and small business owners during Black History Month and beyond.

Black entrepreneurs and small business owners face disproportionate challenges when it comes to operating a business. According to the Washington Post, Black business owners apply for credit at a rate 10 percentage points higher than their white peers, but are 19 percent less likely to be approved for financing, and when approved, tend to receive lower amounts compared to their white peers. According to SCORE, Black small business owners are more likely to tap into their own cash reserves to fund their business, and cite lack of capital and cash flow as two of their biggest challenges.

"As we recognize the contributions of Black Americans this month, it's important that we not only celebrate the past, but also acknowledge the present, and look towards the future. The economic devastation caused by the COVID-19 pandemic has decimated Black-owned businesses all across the country," said Mike Steadman, a member of the Bunker Labs Branding team and founder of Ironbound Boxing in Newark.

"We call on the community to support Black veteran entrepreneurs by extending lines of credit and creating equitable access to capital; by purchasing goods and services from Black-owned, veteran-owned businesses; and by investing in Black-owned, veteran-owned businesses, whether through formal investments or contracts to deliver goods and services."

Black entrepreneurs and small business owners in Bunker Labs' current Veterans in Residence cohort include:

Gable Eaton, U.S. Marines Corps veteran and founder of TeqTouch, which sells wearable tech to protect against germs on public touchscreens
Paul Bennings, U.S. Air Force veteran and founder of the lifestyle brand Heavyweight Apparel
Joshica Kiah, U.S. Air Force veteran and founder of Black luxury natural hair and skincare brand Joshica Beauty
Stephane Manuel, U.S. Army veteran and founder of TrueFiktion, an ed-tech company that uses comics, curriculum, and coaching to share the untold stories of marginalized groups

See the full list and shop these businesses at: www.bunkerlabs.org/black-history-month

About Bunker Labs: Bunker Labs is a 501(c)(3) nonprofit and a national network of veteran and military spouse entrepreneurs dedicated to helping the military-connected community start their own business. Bunker Labs is committed to seeing that every entrepreneur and small business owner in the military-connected community has the network, tools, and resources they need to start their own business.

SOURCE Bunker Labs