“Our commitment to promote social equality and economic inclusion align perfectly with the values of the NBA, WNBA and NBA G League.

“Our mission at LegalZoom is to democratize law in ways that help all small business owners thrive,” said Dan Wernikoff, CEO of LegalZoom. “Fast Break for Small Business” was created to address these disparities and give people in these communities a fairer shot at turning their dreams into reality. Black and Hispanic-owned businesses are twice as likely to be considered “at risk” by banks, while women receive only 4% of small business loans. Chamber of Commerce, more than two-thirds of small business owners agree that minority-owned small businesses face more challenges than non-minority-owned businesses. However, these individuals often have a harder time accessing the resources they need to succeed. Much of this growth is being fueled by people from under-represented communities. More than 1.5 million new small businesses were formed in the third quarter of 2020, nearly double the number formed during the same period the prior year. Interest in small business formation is at a record high. There are more than 32.5 million small businesses in the United States, which employ nearly 47% of the private workforce.

This first-of-its-kind program provides capital and other critical resources small businesses need to operate and grow, changing the game by removing barriers minorities, women, immigrants and members of the LGBTQ+ community often face. (NASDAQ: LZ), a leading online platform for legal and compliance services, and the National Basketball Association (NBA) today announced a new multiyear partnership, which will tip off with the creation of “Fast Break for Small Business,” a community initiative that will award $6 million in grants and LegalZoom services to support thousands of small businesses throughout the country.

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