Minority small business owners sometimes have trouble getting access to traditional bank loans. A 2021 report found that 71% of white-owned companies who applied for PPP loans through large banks received all the funding they requested, while only 41% of Black-owned companies received the full fu...
Jeffrey Yorke
The Small Business Diversity Banking Program was built for LGBTQ businesses like yours. It’s the essence of being a community bank — helping to put people and their businesses on the path to prosperity. Through our Small Business Diversity Lending Program, new possibilities come to life as our...
Magic Johnson launches program to help minority-owned small businesses during crisis “Financially, this has really hurt our community as well as health-wise it’s hurt our community, too,” Johnson added. Rafael Martinez, CEO of MBE, said the funds would look to help 100,000 businesses...
Maybe you want easy small business loans, but you don’t want to sacrifice your company’s mission to get them. Accion Opportunity Fund (AOF) delivers. This nonprofit focuses on creating more equity in lending by financing loans for minority-owned businesses and those operating in low-income ...
Minority-owned small businesses continue to flourish in the U.S., and the right small business loan can help increase the breadth of these profitable businesses even more with flexible, hassle-free working capital options. Lending Options for Veteran Owned Small Businesses ...
Here's an explanation for how we make money. Securing a startup business loan can help small businesses with little or no credit history access financing. But finding the right loan can be a challenge since there are so many lenders, rates and loan types. What’s more, few banks work ...
Who qualifies for minority small business loans? Small business loansfor minorities are typically allocated towards businesses in which a majority owner (often defined as at least 51% ownership) belongs to a specific minority group. Requirements vary per lender, so i...
Businesses can choose to either lease or take out a loan for their equipment needs. Industry-specific loans If you are a business owner with industry-specific needs, like bulk orders of food or modern medical equipment, obtaining an industry-specific small business loan could help ensure that...
This program provides small, short-term loans of up to $50,000 to small businesses and certain types of not-for-profit childcare centers. Loans can be used to buy new equipment, supplies, furniture, or to provide working capital. Loans are provided by microlenders, with each having its own...