How C2FO is Honoring Juneteenth and How You Can Help
May 14, 2021 |
The C2FO Team
There’s a simple way C2FO customers can help us support crucial work for underserved communities during the Juneteenth holiday.
The great 19th-century abolitionist leader Frederick Douglass may have put it best when he wrote, “I prayed for freedom for 20 years, but received no answer until I prayed with my legs.”
At C2FO, we wanted to do something different to honor and celebrate Juneteenth 2021. Making it a paid day off, as some companies have done, could have been an option. But we wanted to make Juneteenth a day of action and awareness, not rest. We wanted it to be a moment when, as Douglass put it, we “prayed with our legs.”
That’s why C2FO will donate all marketplace revenue earned by C2FO on Friday, June 18 (since Juneteenth falls on a Saturday this year) to three outstanding nonprofit organizations dedicated to equity, inclusion and opportunity in underserved and disadvantaged communities.
Here’s the cool part: as a C2FO customer, you have the opportunity to bolster our efforts on June 18 simply by participating on that day in early payment markets. By selecting invoices for accelerated payment on that Friday, you’ll help contribute to the cause of providing more resources for under-resourced businesses and individuals.
The origin and meaning of Juneteenth
On June 19, 1865, when Union Major General Gordon Granger arrived in Galveston to proclaim that the Civil War was over and that the nearly 250,000 enslaved Blacks in Texas were now free, his words were met with surprise and jubilation.
Many slaves in Texas did not know the war was over, much less that they were liberated. They were never informed of the Emancipation Proclamation, which declared that all enslaved persons in the Confederate states were freed and took effect nearly two-and-half years earlier.
Juneteenth, a shorthand blending of the words “June” and “nineteenth,” grew into a national day of celebration for people throughout the United States. Over the years, it has also been called “Juneteenth Independence Day,” “Jubilee Day” and “Emancipation Day.”
Today, Juneteenth is the oldest known holiday commemorating the end of slavery in the United States.
Slavery ended more than 156 years ago, but the struggles that Black people face in many aspects of American life persist today. The tragic deaths of George Floyd, Breonna Taylor and other Black Americans — and the social movements that have followed — remind us, once again, of the systemic inequality that exists and must be addressed in all areas of public and private life.
Providing support on Juneteenth
The urgency of this moment in our history has motivated C2FO to honor Juneteenth in a new way. That’s why on June 18, C2FO will donate all marketplace revenue generated by accelerated invoices on the platform for that day to three community nonprofit organizations that embody the spirit of hope, independence, equity and inclusion that Juneteenth celebrates each year.
These organizations, which mentor and support aspiring entrepreneurs, viable businesses and formerly incarcerated people in Kansas City’s most disadvantaged neighborhoods, were selected from more than 20 nonprofits researched by C2FO team members who serve on our Project Equity Committee.
“Our goal was to look for long-term, sustainable partnerships to benefit underserved populations in the community,” said Kimberlie Jordan, C2FO’s human resources business partner. “We want to partner with leaders who have a model and a lengthy project plan that enables continued growth and the ability to move on to the next milestone when they reach their goals. That’s our approach to goal-setting at C2FO, and that’s what we look for in our partners.”
How can you help? It’s simple. By choosing to accelerate invoices on the C2FO platform on June 18, your company can contribute to C2FO’s donations to the following organizations:
The Porter House KC
The Porter House KC assists new and emerging entrepreneurs in Kansas City’s urban community by providing an affordable business space that can be used to start a new business or expand an existing one. These entrepreneurs are primarily people of color who seek the knowledge, skill set and support to take their businesses to the next level.
The plight of the minority entrepreneur is one with many struggles and hardships among rare, hard-fought victories. The Porter House KC aims to reverse that trend and help entrepreneurs grow in success and reduce the losses.
To learn more, visit https://www.theporterhousekc.com/.
Kansas City G.I.F.T. (Generating Income for Tomorrow)
Founded in 2020, Kansas City G.I.F.T. is a movement dedicated to cementing a better future for all. The organization’s goal is to close the racial wealth gap by creating a clear path to economic prosperity and wealth for the Black community in Kansas City.
Kansas City G.I.F.T. provides grants to Black-owned businesses in Kansas City, with a specific interest in companies that operate in low-income areas. For its first year, the organization strives to provide $180,000 in grant funding and create between 50 and 100 jobs, helping to convert economically disadvantaged areas of Kansas City into areas of economic opportunity.
For more about Kansas City G.I.F.T., visit https://www.kansascitygift.org/.
The mission of Determination Inc. is to create a pathway of opportunity for formerly incarcerated people through entrepreneurship.
People coming out of prison face many of the same obstacles aspiring entrepreneurs encounter when starting a business: finding mentors, raising funds and gathering support. Determination Inc.’s vision is that, by helping formerly incarcerated people to create viable, growing businesses, it can solve the problem of recidivism (re-offending after incarceration) and ultimately help to end the national dilemma of mass incarceration.
For more about Determination Inc., visit https://determinationincorporated.com/.
Creating a fairer financial system
At C2FO, we have always been strong advocates of fairness and equity in the financial services industry, particularly when it pertains to businesses that have traditionally been underfunded and underrepresented. Since 2010, when we began helping companies take control of their cash flow through accelerated customer invoices, we have found that C2FO has been a reliable source of funding for minority-owned businesses. A recent analysis of funding provided through the C2FO platform shows that minority-owned businesses utilize early payment programs at a rate of 5.5 times that of businesses that are not minority-owned.
We hope you’ll join our efforts to honor and celebrate Juneteenth. But, as you know, committing to a fairer, more equitable financial system is a year-round activity. We hope that you, as a C2FO customer, know that we are continually focused on helping a diverse range of businesses have access to the working capital needed to grow each and every day.