Need a Funder or Vendor? START HERE

Page 2 of 2 FirstFirst 12
Results 26 to 39 of 39
  1. #26
    Veteran Reputation points: 120507 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,135

    Quote Originally Posted by Winning View Post
    Loss of property as in slaves? They got insurance payouts for loss of slaves?

    If so that would mean the insurance companies were selling policies for slaves. Which means the insurance companies profited off slaves. Which mean they would also have liability to pay reparations.
    better believe the owners had insurance policies on their slaves. Remember, they were considered property.

    But the reparations were from the gov't to help with stimulus after the Civil war.

  2. #27
    Veteran Reputation points: 120507 Chambo's Avatar
    Join Date
    Sep 2012
    Location
    New York City
    Posts
    3,135

    Quote Originally Posted by Winning View Post
    Loss of property as in slaves? They got insurance payouts for loss of slaves?

    If so that would mean the insurance companies were selling policies for slaves. Which means the insurance companies profited off slaves. Which mean they would also have liability to pay reparations.
    read up on COMPENSATED EMANCIPATION

  3. #28
    Senior Member Reputation points: 30154
    Join Date
    Aug 2016
    Posts
    485

    Quote Originally Posted by Article from Citizen Times News

    https://www.citizen-times.com/story/...ic/5438597002/

    In historic move, Asheville, North Carolina approves reparations for Black residents. In an extraordinary move, the City Council has*apologized for the city's historic role*in slavery, discrimination and denial of basic liberties to Black residents and voted to provide reparations to them and their descendants.

    The unanimously passed resolution does not mandate direct payments. Instead it will make*investments in areas where Black residents face disparities.

    "The resulting budgetary and programmatic priorities may include but not be limited to increasing minority home ownership and access to other affordable housing, increasing minority business ownership and career opportunities, strategies to grow equity and generational wealth, closing the gaps in health care, education, employment and pay, neighborhood safety and fairness within criminal justice," the resolution reads.
    Quote Originally Posted by Winning View Post
    No way did I think this was going to pass. But it did.

    So let's say this is the 1st domino to fall and starts a chain reaction of other city, state, and federal policies regarding reparations... How does a person go about verifying if they are indeed a descendant of a slave? I would think the Government would need to inlist the services of the private sector companies that are operating in the genealogy / acestorial / DNA spaces. I wonder if it would be a good time to invest in companies like 23andMe, Ancestry.com, and MyHeritage....

    Seems like a lot of opportunity may be on the horizon.
    I have seen a few different city governments pass things related to figuring out how much is owed to descendants of slaves and how they can go about issuing reparations. But today was the 1st time that I have seen a State pass any bills regarding this.

    https://www.cnn.com/2020/10/01/us/ca...rnd/index.html

    "California passes a first-of-its-kind law to consider reparations for slavery"..., "Bill AB 3121 -- the first of its kind in any state"...., "California Gov. Gavin Newsom has signed a bill establishing a task force to study and make recommendations on reparations for slavery."


    Do you all think this could really happen? or is this all smoke and no fire?

    And if this did happen, how do you plan to position your business to be able to tap into such a huge financial flow?

    I bet most fortune 100 CEO's are looking at the current landscape and having these types of high level discussions.

    Edit... Something just clicked in my head! The fix may already be in!
    All the recent cooperate activism we have been seeing in relation t0 the Black Lives Matter movement could totally be a strategic play to befriend the Black Community due to the huge financial reparations that will be paid to the black community with in the next 10 years or so. By reinforcing a relationship and befriending your customers it is easier to sell to them!!! Perhaps the top CEO's (with the massive lobbying budgets) know that the Black Community will have a huge increase in buying power within 10 years... But you cant wait to the month before you know they are coming into money, to play nice.... You have to do it in a way that seems organic...

    Checkmate!
    Last edited by Winning; 10-01-2020 at 12:17 PM.

  4. #29
    Senior Member Reputation points: 30154
    Join Date
    Aug 2016
    Posts
    485

    This reparations thing seems to be moving faster than I thought it would. A city has actually funded a reparations initiative..

    Today, Evanston Illinois is the first city in the U.S. to fund reparations, committing $10 million over the next decade in an attempt to repay Black residents for the wrongs and accumulated losses incurred by generations of racism.

    https://abcnews.go.com/US/1st-us-cit...ry?id=76118463

    So I am curious to see how they will actually qualify a person to get these funds.... I wonder will it be like a form of welfare where only low income african americans can get this, or what...

    Very curious indeed on how this is going to happen...
    Last edited by Winning; 03-02-2021 at 10:10 PM.

  5. #30
    Senior Member Reputation points: 30154
    Join Date
    Aug 2016
    Posts
    485

    So Evanston, Illinois (Chicago suburb) has officially became the first U.S. city to make reparations available to its Black residents for past discrimination and the lingering effects of slavery.

    On Monday 3/22/2021, The Chicago suburb’s City Council voted 8-1 to distribute $400,000 to eligible black households. Each qualifying household would receive $25,000 for home repairs or down payments on property.

    The program is being funded through donations and revenue from a 3% tax on the sale of recreational marijuana. The city has pledged to distribute $10 million over 10 years.

    Qualifying residents must either have lived in or been a direct descendant of a Black person who lived in Evanston between 1919 to 1969 and who suffered discrimination in housing because of city ordinances, policies or practices.

    So $400,000 divided by $25,000 = 16. So I guess the next step is for them to select the 16 people that get this 1st pay out?

    The day those 16 people get those funds, may be historical day due to the history of the 40 Acres that Union General William T. Sherman’s Special Field Order No. 15, issued on Jan. 16, 1865. Here is a short read of exactly what was originally promised in 1865 https://www.pbs.org/wnet/african-ame...es-and-a-mule/ .. Very Interesting read.. If that would have been allowed to happened it would have fundamentally altered the course of American race relations. I think that order may have played a huge role into why Abraham Lincoln was assassinated. Andrew Johnson, Lincoln’s successor and a sympathizer with the South, overturned the Order in the fall of 1865..

    So what are you or your business doing to prepare for such a huge financial flow?

    Here is what I am doing..

    Investing in Crypto... I think its possible that such a huge fiat USD transaction could negatively effect the USD value and create higher inflation. It may be wise to put some money in crypto currency. if you are interested to learn a little about how crypto value works, here is a short read https://www.investopedia.com/ask/ans...have-value.asp

    Incorporate a Non Profit Public Charity, and file for 5013C Status.... There is a huge need and will be a even bigger need to teach basic financial literacy, entrepreneurship, critical thinking, problem solving, etc.... I think that giving a boat load of money to people will not immediately elevate a mind set. That takes a lot more time and effort. If national reparations are dispersed there will be additional programs put in placed to assist with making this happen and fostering change. I am sure there will be new Private Foundations created and funded, related to assisting reparation recipients. Foundations can't give assistance directly to the reparation recipients. Foundations can only give grants to other 5013C organizations. The Non Profit 5013C Public Charity is responsible for actually taking the funds from the foundations via grants then helping the people. Here is a short read on Private Foundations vs Public Charities https://learning.candid.org/resource...lic-charities/

    So what do some of you all think about what's going on, and how are you positioning yourself?
    Last edited by Winning; 03-24-2021 at 02:18 PM.

  6. #31
    Senior Member Reputation points: 30572
    Join Date
    Oct 2014
    Location
    Naples, FL
    Posts
    389

    Great insight. You've really stayed on the forefront of this news. I agree with your Crypto sentiment and very intrigued about the 5013c status.

    Education is key. Financial literacy is key.

    There's a lot of hustle in the streets - they just need someone to counsel them on making the best moves.

    I know because I've been there.

    Keep winning, Winning.

  7. #32
    Senior Member Reputation points: 30154
    Join Date
    Aug 2016
    Posts
    485

    Man this reparations things is developing fast! Oakland CA is going to intertwine Guaranteed Minimum Income and Race in a program they are calling "Oakland Resilient Families" payments program.. What is interesting about this program is how they avoid mentioning anything about reparations, slavery, or jim crow polices etc... But at the same time they are saying this benefit program is only for low income black people... I feel Reparations was already a complex situation regardless if the black person is in poverty or not.. now combine that with a low income filter, makes this even more complex. Too many Chefs in the Kitchen! There are tons of various initiatives being started on the city level, county level, state level, etc..... I think Congress needs to issue a formal apology for slavery & Jim Crow, and then take the lead on this whole reparations things asap.

    Mayor of Oakland, Libby Schaaf “The poverty we all witness today is not a personal failure, it is a systems failure,”. “Guaranteed income is one of the most promising tools for systems change, racial equity, and economic mobility we’ve seen in decades.”

    Oakland Resilient Families payments program
    • $500 per month.
    • The monies are not considered taxable income.
    • Must be a person of color, Black, or Indigenous.
    • undocumented and/or unsheltered individuals also qualify.
    • Oakland resident must have at least one child under the age of 18 and income needs to be below $59,000 for a family of three.
    • An online multilingual screening form will be made available this spring and summer. Recipients will be chosen at random to receive the funds.



    Quote Originally Posted by Steven_O View Post
    Great insight. You've really stayed on the forefront of this news. I agree with your Crypto sentiment and very intrigued about the 5013c status.
    I am in Texas.. I created a non profit corporation the other day. It only took me about 30 minutes and it cost $25 dollars. https://www.sos.state.tx.us/corp/sosda/index.shtml ... I chose to be a Non Member nonprofit that is governed by a Board. So I had choose 2 additional board members (non family related)..

    I then logged on to the IRS and got an EIN https://www.irs.gov/businesses/small...ber-ein-online.

    After that I had to file for the Recognition of Exemption Under Section 501(c)(3) at https://www.pay.gov/public/form/start/62759871 .. By the way the exemption status request fee was $275.

    Now it is just a waiting game for the 501(c)(3) exemption request to be approved... But as of right now i have officially formed my non profit company and it has been issued an EIN. Next week I am going to open a Bank Account and have my 1st board meeting with my Board members.

  8. #33
    Senior Member Reputation points: 76494
    Join Date
    Mar 2014
    Location
    Florida
    Posts
    2,490

    The Oakland , California violates so many existing Laws it's is not even close to being funny.
    Dave Lambert
    FC Financial LLC
    dave@fcbankcard.com
    Phone: 1-727-233-1111
    Text/VM: 1-727-291-7890

  9. #34
    Senior Member Reputation points: 30154
    Join Date
    Aug 2016
    Posts
    485

    Quote Originally Posted by Steven_O View Post
    Great insight. You've really stayed on the forefront of this news. I agree with your Crypto sentiment..
    Just created a Coinbase acct and bought $300 of Crypto! Took like maybe 15 minutes to do.

    $100 worth of Bitcoin, $100 worth of Ethereum, & $100 worth of Cardano!

    BTW the cryptocurrency exchange Coinbase (the platform that I just used to purchase the crypto with) is going to IPO soon. So I am probably going to by some stock in Coinbase once they go public.

    Last edited by Winning; 03-26-2021 at 02:31 PM.

  10. #35
    Senior Member Reputation points: 30154
    Join Date
    Aug 2016
    Posts
    485

    Quote Originally Posted by Winning View Post
    I think that the the issue is to complex and expensive, as one of the reasons why the government has not made any official attempt to answer for it.
    Quote Originally Posted by Winning View Post
    Could you imagine the difficulty it would be to try to figure out who are the current descendants of slaves from over 150 years ago.
    Quote Originally Posted by abfunders View Post
    ...It's too complicated to move forward on reparations. When I meant direct descendants, I meant them and their kids.* Unfortunately, it's just too late.
    Quote Originally Posted by Winning View Post
    Perhaps I will be proven wrong.. It looks like there are some local governments willing to address this reparations thing head on.
    So the more l have learned about this the more I realize the idea that a lot of us have regarding slavery happening so long ago that it would be difficult for the current descendants to track back is complete BS.

    I have learned that there are tons of people alive today whos great grandparents or great great grandparents where slaves. If we lower the barrier of entry to include if a black person's family experienced harm do to Jim Crow law, that may include just about every black family.

    Evanston Illinois is in the process of finalizing there 1st 16 families to get reparations. The have released back stories on exactly how they were affected during the Jim Crow era. Reading some of the applicants stories makes my stomach turn.. It's mind boggling that this stuff was legal to do.

    1929. "Lucious Sutton disconnected the water line, the gas line, and the sewer line for the home he’d built on Bauer Place on the northwestern edge of Evanston. He and his brothers removed the appliances and the furniture. They secured the windows. Then he watched as men he didn’t know—maybe they worked for the city, maybe for a property developer—jacked up the wooden house, set it onto a truck, and drove it a mile-and-a-half to the neighborhood the city had deemed more suitable for Black families. A sheriff stood by." "Carlis Sutton, a grandson of Lucious says “If the house still sat where my grandfather put it, it would be worth $500,000,” he says. Sitting where it does in the Fifth Ward, the house sold four years ago for $152,000."

    Read more of the various families stories at https://www.bloomberg.com/news/featu...s-hard-reality


  11. #36
    Senior Member Reputation points: 179851 ryan $'s Avatar
    Join Date
    Jun 2017
    Posts
    2,060

    Quote Originally Posted by Winning View Post
    No way did I think this was going to pass. But it did.

    So let's say this is the 1st domino to fall and starts a chain reaction of other city, state, and federal policies regarding reparations... How does a person go about verifying if they are indeed a descendant of a slave? I would think the Government would need to inlist the services of the private sector companies that are operating in the genealogy / acestorial / DNA spaces. I wonder if it would be a good time to invest in companies like 23andMe, Ancestry.com, and MyHeritage....

    Seems like a lot of opportunity may be on the horizon.
    Probably the same way you prove lineage in Native Americans, for their benefits. I am from CT, if you can prove relations with Mashantucket Pequots, or Mohegan's - I think lineage is traced back to 11 Core families, if that can be done, 11 Families, from the 1600's, Tracing back Slave relations should be possible, although difficult.

    I had to trace mine back for dual citizenship w Italy, although not nearly as far.

    DNA pretty much does it for you.

  12. #37
    Senior Member Reputation points: 30154
    Join Date
    Aug 2016
    Posts
    485

    Quote Originally Posted by Winning View Post
    ...I created a non profit corporation the other day. It only took me about 30 minutes and it cost $25 dollars. https://www.sos.state.tx.us/corp/sosda/index.shtml ... I chose to be a Non Member nonprofit that is governed by a Board. So I had choose 2 additional board members (non family related)..

    I then logged on to the IRS and got an EIN https://www.irs.gov/businesses/small...ber-ein-online.

    After that I had to file for the Recognition of Exemption Under Section 501(c)(3) at https://www.pay.gov/public/form/start/62759871 .. By the way the exemption status request fee was $275.

    Now it is just a waiting game for the 501(c)(3) exemption request to be approved... But as of right now i have officially formed my non profit company and it has been issued an EIN..
    UPDATE..

    I got my 501c3 approval letter from the IRS! I officially have a nonprofit with Tax exempt classification.. The IRS has a huge backlog.. I submitted for tax exempt approval on in 03/2021, and didnt receive the IRS approval letter until 9/10/21.

  13. #38
    Senior Member Reputation points: 30154
    Join Date
    Aug 2016
    Posts
    485

    Quote Originally Posted by Winning View Post
    I have seen a few different city governments pass things related to figuring out how much is owed to descendants of slaves and how they can go about issuing reparations. But today was the 1st time that I have seen a State pass any bills regarding this.

    https://www.cnn.com/2020/10/01/us/ca...rnd/index.html

    "California passes a first-of-its-kind law to consider reparations for slavery"..., "Bill AB 3121 -- the first of its kind in any state"...., "California Gov. Gavin Newsom has signed a bill establishing a task force to study and make recommendations on reparations for slavery."


    Do you all think this could really happen? or is this all smoke and no fire?

    And if this did happen, how do you plan to position your business to be able to tap into such a huge financial flow?

    I bet most fortune 100 CEO's are looking at the current landscape and having these types of high level discussions.

    Edit... Something just clicked in my head! The fix may already be in!
    All the recent cooperate activism we have been seeing in relation t0 the Black Lives Matter movement could totally be a strategic play to befriend the Black Community due to the huge financial reparations that will be paid to the black community with in the next 10 years or so. By reinforcing a relationship and befriending your customers it is easier to sell to them!!! Perhaps the top CEO's (with the massive lobbying budgets) know that the Black Community will have a huge increase in buying power within 10 years... But you cant wait to the month before you know they are coming into money, to play nice.... You have to do it in a way that seems organic...

    Checkmate!
    *** UPDATE ***

    Over the last few years I have been following this developing story, and today a San Francisco committee is proposing to pay each black resident up to $5 million each in reparations. "Atone for it and act in terms of providing concrete measures that would pay back for the wrong that was done." check out the story at https://www.foxnews.com/us/san-franc...must-admit-sin.

    Please note that this San Francisco committee is not the same taskforce that was put in place when Gov. Gavin signed Bill AB 3121, which established a task force to study and make recommendations on reparations for slavery. The state taskforce, created by that legislation signed by Newsom in 2020, has yet to put a price on reparations, but they have recommended a remedy for housing discrimination alone that topped $560 billion, or $223,000 for each qualifying descendent of a Black living in the US prior to 1900 now residing in California state. They also released a 500-page interim report, in which the 9 member California task force details what it considers 300 years of repression and discrimination for which Black Americans deserve compensation. It cites government policies, Jim Crow laws and redlining for causing the wealth gap between white and black communities.

    This other San Francisco committee is saying ""America must admit its sin," says Rev. Amos Brown, a member of the San Francisco committee proposing to pay each black resident up to $5 million each in reparations. "Atone for it and act in terms of providing concrete measures that would pay back for the wrong that was done.". Eligibility for the San Francisco payout is you must be 18, identify as Black or African American for at least ten years. Alternatively, you could be born in the city between 1940 and 1996. A connection to slavery is not necessary. You may qualify for reparations by being "personally or the direct descendant of someone incarcerated by the failed war on drugs". The plan also calls on the city to supplement lower-income recipients’ income to reflect the Area Median Income (AMI), about $97,000, annually for at least 250 years. See more details and more in-depth breakdown at https://www.foxnews.com/politics/san...bt-forgiveness.

    Here are a few interesting Reparation stories from over the last few years...

    Harvard releases report detailing its ties to slavery, plans to issue reparations.
    https://www.npr.org/2022/04/27/10949...ts%20in%201783.

    Enslaved labor built these universities. Now they are starting to repay the debt.
    https://www.usatoday.com/story/news/...ns/2612821001/

    Cambridge University admits it profited from historical slavery.
    https://www.euronews.com/2022/09/23/...orical-slavery

    Connecticut Newspaper Admits to Profiting From Slave Ads.
    https://www.democracynow.org/2000/7/...profiting_from

    Lloyd's of London to pay for 'shameful' Atlantic slave trade role.
    https://www.reuters.com/article/us-m...-idUSKBN23P0SM

    If you want to keep up with the status Federal Bill H.R.40 - Commission to Study and Develop Reparation Proposals for African Americans Act.
    Check out https://www.congress.gov/bill/118th-.../house-bill/40

    Interesting times indeed...

  14. #39
    Quote Originally Posted by Chambo View Post
    Not the only town that happened to either. Check out ROSEWOOD in Florida, Springfield. MA, Memphis, TN, and of course, the NYC draft riots of 1863
    Not to mention Seneca village, or the MOVE compound in chicago
    Mac Jean
    Iso Relations Manager
    mac@clarityadvance.com
    www.clarityadvance.com

Similar Threads

  1. Who is "Main Street Capital Group, LLC"?
    By 1Loanguy in forum Merchant Cash Advance
    Replies: 0
    Last Post: 07-27-2017, 05:55 PM
  2. "High Risk" Cash Advance" -- Nerd Wallet Article
    By Cfairbank in forum Merchant Cash Advance
    Replies: 17
    Last Post: 10-15-2016, 02:28 PM
  3. Replies: 0
    Last Post: 02-02-2015, 12:33 PM
  4. "A paper" and "B/C" lenders
    By loan in forum Merchant Cash Advance
    Replies: 17
    Last Post: 02-02-2015, 12:13 PM
  5. The Difference between "High Risk" and "Additional Positions"
    By WhoisKingsley in forum Merchant Cash Advance
    Replies: 1
    Last Post: 12-01-2014, 11:31 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

NYC to offer biz loans up to 250k at 4%
eCapital ABL NA funds $95M in Q4
IOU: State of small biz


DIRECTORY