Many people are unable to reflect on the college experience without remembering the impact of fraternities and sororities. From parties to homecoming shows, the men and women of Black-Greek Letter organizations have made a social and societal impact for over a century.
Called the National Panhellenic Council (NPHC) or “the Nine Divines,” the historic organizations collaborated with the United States Small Business Administration (SBA) to close the wealth gap through Black entrepreneurship.
A unique partnership
SBA Chief Isabelle Casillas Guzman signed the Strategic Alliance Memorandum with President Reuben A. Shelton III, Esq. (Polemarch of Kappa Alpha Psi Fraternity, Inc.) on behalf of the NPHC.
Formalized as Juneteenth approaches, the new strategic alliance demonstrates the Biden-Harris administration’s commitment to strengthening equity for underrepresented communities across the United States. ASB press release, the alliance is an agreement that will focus on improving financial literacy within underserved and disadvantaged communities.
A major goal of the alliance will be to provide resources to Black entrepreneurs by introducing them to the SBA’s suite of tools for business growth. These tools include access to capital, public procurement opportunities and advice.
“This historic alliance between the SBA and NPHC, the first of its kind for a government agency, will put the SBA’s valuable resources within reach of many small businesses and entrepreneurs, furthering the Biden-Harris Administration’s commitment to strengthen equity and close historic transactions. wealth gaps that have held back Black American entrepreneurs, small business owners, and their families and communities for generations,” said Administrator Guzman, according to the press release.
“The National Panhellenic Council and its affiliated organizations are very excited about this opportunity with the U.S. Small Business Administration,” Shelton III added of the partnership: “This collaboration will give NPHC members critical access to information that will promote small business growth and create jobs across all sectors of our economy.
The Legacy of Black-Greek Letter Organizations
The NPHC is made up of nine Black-Greek letter organizations, including:
- Alpha Phi Alpha Fraternity, Inc.
- Alpha Kappa Alpha Sorority, Inc.
- Kappa Alpha Psi Fraternity, Inc.
- Omega Psi Phi Fraternity, Inc.
- Delta Sigma Theta Sorority, Inc.
- Phi Beta Sigma Fraternity, Inc.
- Zeta Phi Beta Sorority, Inc.
- Sigma Gamma Rho Sorority, Inc.
- Iota Phi Theta Fraternity, Inc.
The NPHC was founded on May 10, 1930 at Howard University in Washington, DC. promote the cooperative actions of its members in dealing with issues of common interest.
