The San Francisco Foundation is committed to unlocking opportunities for Black and Brown families to build wealth and grow the resources in those communities. Small businesses built by and for entrepreneurs of color are an essential part of that work.
ICA is a long-time nonprofit partner of the San Francisco Foundation. For more than 25 years, ICA has supported entrepreneurs to learn the mechanics of business, build networks, and secure capital to grow their ventures. Our Bay Area Community Impact Fund made a $1 million loan to ICA to support this work and ensure they have long-term, low-cost capital to support small business owners in the Bay Area.
“The San Francisco Foundation’s investment in ICA demonstrates its willingness to think outside the box to fund new ways of closing the racial and gender wealth gaps. Harnessing the power of small businesses to build a more equitable community, ICA provides Bay Area entrepreneurs with the coaching, equity, and equity-like capital they need to accelerate their businesses, create good jobs, and build wealth for themselves and their workers. We are grateful for the San Francisco Foundation’s investment.” Allison Kelly, CEO of ICA.
One of the businesses ICA has partnered with is Something Better Foods, a Black-owned food company based in Oakland, that has a staff and management team that is 100% people of color. Founded by GW Chew in 2017, Something Better Foods creates plant-based protein alternatives for America’s most popular comfort and ethnic foods. Their goal is to democratize and expand the reach of plant-based protein through three channels: wholesale and grocery, restaurant bulk orders, and direct-to-consumer, with products currently in Northern California Whole Foods locations, and well-known Bay Area restaurants like The Butcher’s Son and Vegan Mob.
We are proud to continue our longstanding partnership with ICA to make small business ownership a reality for entrepreneurs of color.