The Gift, which is a natural health and wellness company that was founded in 2018, has announced that they have received a $10,000 grant from Beyoncé’s BeyGOOD and the National Association for the Advancement of Colored People (NAACP).
Earlier this year, back in July, the NAACP had announced its partnership with Beyoncés BeyGood organization to create new small business grants for Black-owned businesses in different cities across the U.S.
The NAACP announced on its website that it will be distributing a number of grants valued at $10,000 to Black-owned small businesses in Houston, Atlanta, New York, Los Angeles, and Minneapolis that have been impacted by the COVID-19 health crisis.
The Gift was one of 17,000 applicants to receive a $10,000 grant from Beyoncé’s philanthropic foundation, BeyGOOD, and the NAACP under the initiative mentioned above.
“Companies in the legal cannabis industry face higher costs for just about everything from insurance to
banking, even if they are working strictly with hemp, not marijuana,” said Cory Moore, co‐founder and
CEO of The Gift in a written statement sent to BLACK ENTERPRISE.
“Banks are reluctant to lend to us because the regulations around hemp are new and still developing in some respects. Black‐owned businesses are challenged even further when it comes to financing. This grant from NAACP and Beyoncé has made us feel seen, and we are grateful to them for the opportunities we will create with these funds.”
With the grant The Gift had bestowed upon it, it plans on launching a new e-commerce site and
educational platform, Project 545. There is also a plan to relaunch the product line in new, sustainable packaging.
Project 545 will be available through the website, thegiftwellness.com.
The Gift is a natural health and wellness company founded in 2018 by owners Moore and Elizabeth
Robinson. There is a plan to launch a farm, hemp fiber processing plant, and learning campus in North Carolina in 2021.