Jay-Z Backed Altro and theCut Partner to Help Barbers Build and Establish Credit
This article first appeared on BlackEnterprise.com on June 21, 2022.
Through its vast catalog of financial literacy offerings and ability to build credit through digital subscriptions, Altro will provide financial and credit-building access to theCut’s community of 45,000 barbers and counting.
Altro is bringing financial empowerment to any and everyone, including small business owners and self-employed individuals who have historically had a more difficult time achieving their financial goals. When business owners have not yet received or established business credit, lenders evaluate their personal credit, making it particularly challenging for these founders to gain access to loans that are critical to jump-start their business.
“We are providing free financial resources to independent workers like theCut’s community of barbers, who can build and improve personal credit by reporting their Cut subscription to Altro,” said Altro founder and chief executive officer, Michael Broughton.
“A lot of first-time entrepreneurs don’t realize that personal credit is evaluated by lenders when they’ve not yet received or established business credit, and we are creating that opportunity.”
“Helping our barbers streamline and manage the backend of their business was only one piece of the equation: connecting them to financial resources in order to properly scale their business was another,” said theCut co-founder, Obi Omile Jr.