ShopKeep, a top-rated tablet-to-cloud commerce platform chosen by tens of thousands of independent retailers and restaurants, announced the launch of ShopKeep R.I.S.E. (Reinvesting in Small-Business Equality), a new initiative designed to make funding more accessible to minority-owned businesses. Born out of a desire to close existing racial disparities in obtaining small business capital, ShopKeep R.I.S.E. offers no-fee, no-interest cash advances to minority-owned business owners to help their businesses grow.
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“While we must all make decisions about the types of actions we take as individuals, we believe it’s also critical for the business community to take a stand and to take action where it can make a difference,” said Michael DeSimone, CEO of ShopKeep. “With the creation of this special fund we are taking sustainable action to help drive real and impactful change.”
The R.I.S.E program will award a total of $250,000 in funding on a rolling basis. Eligible ShopKeep customers can apply to receive an advance of $1,000 to $10,000.
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Businesses that qualify for funding through R.I.S.E. are small businesses that:
- Meet the criteria for minority-owned or controlled business. For the purposes of this program, a minority group member is an individual who is at least 25% Asian, Black, Hispanic, or Native American as defined by the National Minority Supplier Development Council.
- Use ShopKeep as their sole point of sale.
- Actively process transactions with ShopKeep Payments. Non-ShopKeep Payments customers can still apply for a R.I.S.E. advance and switch if approved for the program.
- Are based in the United States and majority-owned by a U.S. citizen.
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