One Swipe At A Time
One Swipe at a Time™ is a US-based charitable organization located in Hilliard, Ohio.
Through our solid partnership with a 25-year-old global payment processor who manages over $1 billion in electronic transaction each month and the 5th largest bank in the United States, we proudly announce a nationwide grant program dedicated to financing the launch of African American owned businesses.
Without any biases, our corporate promise is to provide an opportunity and a real chance for African-American individuals to start and scale a business.
SEE THE VISION
UNDERSTAND THE MISSION
DO THE WORK
One Swipe At A Time™ exists for one purpose; to provide African American entrepreneurs with business working capital in the form of grants (not loans).
Grant recipients will use these resources to launch businesses of their own, scale operations for profitability, longevity, and perpetuation of generational wealth in African American communities.
Besides providing tangible monetary assistance to foster the growth of Black-owned businesses, we donate state-of-the-art computers and Internet-based support systems to economically disenfranchised schools.
Let us be clear. We are not a lending institution nor do we market ‘loans' that require credit approval and payback terms.
Instead, we provide start-up working capital, new business grant funding to help promising African American entrepreneurs launch and grow successful businesses.
One Swipe At A Time™ helps build successful African American-owned businesses today, while at the same time we're planting seeds to invest in African American businesses for generations to come.
Why Focus On African Americans Only?
The Wealth Gap
Small businesses and entrepreneurs have been longtime wealth builders for generations. By supporting more Black-owned companies, you can help create more opportunities for meaningful savings, property ownership, credit building, and generational wealth for black communities.
The racial wealth gap is an issue that has persisted from generation to generation in the U.S. The Economic Policy Institute stated in 2017 that average wealth for white families was seven times higher than average wealth for Black families. The median wealth, or wealth in the family in the exact middle of the overall distribution, of white families was 12 times higher than that of Black families.
Dr. Claude Anderson
Author of PowerNomics®: The National Plan to Empower Black America ()
Economic Policy Institute also found that more than one in four Black households have zero or negative net worth; whereas, less than one in ten white families lack wealth. This disparity has remained the same even when accounting for age, household structure, education level, income or occupation.
This wealth gap affects Black entrepreneurs because it contributes to challenges in financing their businesses.
A 2020 Guidant Financial report showed that cash is the most popular small business financing method among Black business owners, with 44% of survey respondents indicating that they use cash to fully or partially finance their business. Raising funds through family and friends and opening a line of credit are the second and third most popular methods, respectively.
But due to the wealth gap, there is less access to capital and cash flow for Black people, contributing to a nine percentage point difference in profitability between African American small businesses (69%) and the average small business (78%).
Research shows that racial disparity exists when applying for credit as well. A Federal Reserve Bank report in 2017 indicated that Black-owned businesses apply for credit at a rate that is ten percentage points higher than the rate for white-owned businesses, and yet their approval rates are 19 percentage points lower. This means Black business owners are more likely to encounter financial hurdles and have a harder time obtaining credit in comparison to white business owners.
The Unannounced Secret War
Income inequality has been getting worse as each decade since 1865. The wealthiest, typically meaning Whites, are getting wealthier according to a new study, while the average Black household has no wealth building assets whatsoever or systemic racism engages in subversive acts of denial and neglect cutting off wealth building resources.
The fact that reparations for slavery is legally owed, yet not paid is a glaring example of denial and neglect. Wealth inequality lasts generations — forever, for all practical considerations.
By 2052, Black households will have a median wealth of zero according to an analysis by non-profits Prosperity Now (formerly CFED) and the Institute for Policy Studies.
The Institute for Policy Studies and Prosperity Now, have meticulously documented an “accelerating decline in wealth over the past 30 years” for black households, and its authors have dire forecasts for the future should the status quo continue.
“Black-white wage gaps are worse today than in 2000”
Black-white wage gaps are large and have gotten worse in the last 30 years.
The latest findings on wage growth as documented in EPI’s State of Working America Wages 2019 report indicate wages in general are slowly improving with the growing economy, but wage inequality has grown and wage gaps have persisted, and in some cases, worsened.
African Americans protest, march and boycott against police brutality and social injustice without realizing that — policy reform is an economic issue. In other words, mobilizing stakeholders to become political advocates requires the involvement of a lobbyist.
Let’s cut to the chase. Politicians and judges are voted into office by lobbyist who are funded by big business or corporate interest groups. African Americans must learn how to play the game.
Launch businesses of your own, pool African American resources together and by politicians to lobby on behalf of the Black community.
The age-old strategy of marching, protesting and sit-ins does not lead to policy reform. Business ownership = economic power.
“During slavery, our ancestors owned 1.5% of American wealth. Today, over 150 years later and all the freedom we can imagine, we still only own 1.5% of American wealth in this country. Does that sound like we are making any progress?”
~ Dr. Claud Anderson, President of PowerNomics Corporation of America, Inc.,
...and The Harvest Institute, Inc.
Dr. Anderson has held some of the highest positions in federal and state government and politics. He was State Coordinator of Education for Florida under Governor Reubin Askew during the tumultuous period of the 1970s. Director of former President Jimmy Carter’s Florida campaign to a win in the state, Carter appointed Anderson as the Federal Co-Chairman for a Commission of governors in the southeast states. In that position (rank of Assistant secretary in the U.S. Department of Commerce), Dr. Anderson chaired the Commission, funded and directed economic development projects for the governors in those states.
As Executive Director of two economic development corporations for the city of Miami, Florida, Dr. Anderson oversaw funding of more than 30 businesses. Although he has been a political independent for many years, he was a major planner and coordinator for the 1988 Democratic Convention in Atlanta and has taught at all levels of education.