Speaking to 10,000 at the opening of the Hampton Ministers Conference, the co-founder of National Black Business Month said the time for the fulfillment of God’s promise has come.
“As a people economically, we have been on the banks of the Red Sea,” said John William Templeton at the Hampton Convocation Center during the 130rd gathering of the nation’s largest conference of black clergy and musicians. “It is time for us to get to the land of milk and honey.”
Templeton represented BlackWealth 2020, a coalition of churches, fraternities and sororities, chambers of commerce, broadcasters, real estate brokers and managers, entrepreneurs, investment and community bankers, economic and legal experts who have established three paramount economic goals:
* increasing the number and scale of black-owned businesses
* generating two million new black homeowners
* raising the capacity of black-owned banks to provide business and residential credit
Templeton cited his new book Our10Plan: State of Black Business, 14th edition, that only 10,000 of 700,000 business loans from banks nationally go to black-owned businesses, according to new federal data. “Sixty percent of those are from black-owned banks. The math is clear, if we want to create more jobs, have more people own their homes, we need to support the banks which depend on the success of our community.”