As a Faith-Driven 501C6 Chamber of Commerce founded nearly 13 years ago out of one of the nation's largest black churches, New Birth Missionary Baptist Church in Atlanta, GA, Embassy International Chamber of Commerce (EICC) & Network (EICCN) recognizes the many needs of the Body of Christ.
Therefore, we have developed a peer-resourcing fund in which to address some of these needs within the confines of our unique sphere of influence.
‘Common-Unity’ is our way of exemplifying the life of Jesus Christ while simultaneously impacting the world.
‘Common-Unity’ is our specific approach to Acts 2:44-45, "...and had all things common...," or in other words, Community thinking, application, and service.
EICCN understands the many plights of the Independent Faith-Driven Urban iNSPiRED Industry Leader/Entrepreneur and seeks to close the gaps that exist as barriers to our mission to do business & occupy in the marketplace until Christ’s Return.
‘Common-Unity’ will receive a portion of its initial funding from 10% of EICC/EICCN membership fees.
Additionally, we aim to receive funding from events, crowd funding campaigns, public donations, angel investors, & private funders.
The primary function of the fund is to economically empower or give support to aspiring, growing, and even struggling Kingdom Entrepreneurs or Businesses within our black congregations, connected businesses, & community collaborations for commerce who possess the innovative missions and unique ideas ready to transform the marketplace, but in need or perhaps lack the capital for continued growth.
Secondarily, will look to assist in financing the structuring, planning, marketing, promotion, and advertising of some of our industries most anointed, talented, and prepared marketplace ministries/businesses/organizations/projects.
Your dollars go to support individual participants, any one of our 5 cohorts, and/or operating costs of executing the program!
Each member commits to a 2 year financial empowerment program to invest $500 per month for 4 months ($2,000) that 2 members at a time will use (up to $5,000) at the beginning of the 1st quarter after the funding cycle begins (1st Funding Cycle will begin October 2021; first use fund distribution to be distributed February 2021; thereafter use fund distributions: February & April each year).
Monthly contributions + harvest payments (throughout redemption period) will be auto debited monthly from use fund recipient’s account as required business expense over the life of the use.
Contributors can choose to invest weekly, bi-weekly, monthly, or up front quarterly.
Determined harvest rate & redemption period is suggested at 10.3355% for 18 months.
Five Team Cohorts (4 members each) will assembled and matched in way that compliments their business services/products for optimum success and provides on-going relationships with members beyond the program. Each member will draw numbers to determine their order of disbursement. Each Team is required to participate in the training program uniquely designed to hold one another accountable, financially educate them, and best prepare recipients for accessing the fund, repayment of proceeds, understanding and generating reports/financial statements, and overall success in the program.
All participants will need to approve one another's individual disbursements based on set criteria, their ability to earn enough revenue to manage all their financial responsibilities, and completely submit to the process moving forward.
Each member will be required to provide a plan with detailed objectives, strategy & execution, and time markers to measure success and/or make adjustments.
Financial transparency and accountability as well as profit & loss, income statement, balance sheet, cash flow statement, statement of retained earnings, and other related financial reporting will be required.
Members are encouraged to make regular and generous contributions to the Common-Unity Fund designed to assist in needy businesses and entrepreneurs during challenging financial difficulties.
Financial guidance and consulting will be provided.
Check out the website here.
Check out the website here.
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