African American Private Investment Fund invests in African American Woman owned business
[ CHARLOTTE, NC, August 19, 2019] Up Community Fund (UPCF)seized the opportunity to invest in the future of Staffewar2. For Towanda Jordan Scott of Staffwear2 the investment allowed her to move past the road blocks to the expansion of her business and paved the way for long term financial success.
UPCF provided debt financing and took an equity position in Staffwear2. The financial re-engineering of the Staffwear2 balance sheet allows the company to fulfill orders it previously had to turn away. Staffwear2 is on a path to increase its sales by 25% over 2018.
In 1991, Towanda Jordan-Scott, started her uniform career at ASAP Uniforms. Moving up the ranks to vice president, she purchased the remaining assets of her nationally acquired employer to form ASAP Career Apparel in 2000 followed by Staffwear, LLC in 2008. Recently she bought out her partners and started Staffwear2.
David Sharp is the founder and Managing Partner of the UP Community Fund. He is responsible for the overall management of the fund, which includes deal sourcing and investor relations. UP Community Fund is a new impact investing vehicle designed to increase financing available to entrepreneurs of color in the mid-Atlantic, and southeastern United States.
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