Wells Fargo has closed and emptied the business accounts of Beautiful Curly Me without warning, according to its 12-year-old CEO Zoe Oli and her mother, Evana.
Zoe Oli founded the company at age seven to boost confidence in young Black girls through dolls and other products and recently became the youngest CEO to have a toy line at Target.
Account Closure Leaves Business in Crisis
The closure of Beautiful Curly Me’s three business accounts has put a severe strain on the company’s operations.
According to Zoe and Evana, Wells Fargo cited an address discrepancy as the reason for the closure, claiming the listed office address was not a legitimate physical location—despite being in a recognized Atlanta office building.
As a result, their funds have been held for up to 15 days, leaving the business unable to cover operating expenses such as bills and vendor payments.
“This is really disheartening and unacceptable,” Zoe expressed in a video shared on Instagram.
The sudden lack of access to funds has placed Beautiful Curly Me, which has inspired thousands of young Black girls, in an incredibly challenging position.
Read: STEM Enthusiast, 12, Becomes The Youngest CEO With A Toy Line At Target
Support for the Black-Owned Business
Beautiful Curly Me has urged supporters to rally behind them during this difficult time.
To alleviate the strain, the company is offering a 20% discount to customers who use the promo code “SUPPORT20” when shopping directly through their website.
The mother-daughter duo hopes that these sales will provide the business with much-needed liquidity while waiting for their funds to be released.
As the situation unfolds, Zoe and Evana are working hard to get their finances resolved.
Feature Image Credit: University of Florida
