Startup For Minorities? Yes, There Are Lenders That Will Work With You
When you belong to the population of minority women, African-American, Asian, or Hispanics, you know the ins and outs of financing to improve your chances of finding lenders that will work with you.
Here’s a list of funding options and other resources that might come handy for women entrepreneurs and minority business owners:
This firm was established by female founders. They can support any form of business but it appears they show preference to businesses that are minority-owned or founded by women.
Belle Capital is another early stage angel fund that helps firms in underserved markets across the United States. They look for efficient companies that offer unique products or services and filling urgent needs in the market. If you are in the technology, life sciences, digital, or clean tech niche, then there’s a good chance you will catch its attention.
Business Center For New Americans
This organization offers microloans in the range of $5,000 to $50,000 for minorities who cannot quality for traditional business startup loans because of bad credit or short business history.
Small Business Administration
The SBA offers several programs that can help entrepreneurs get good contracts with the government that can help boost your business for the long-term.
First Nations Development Institute Grant
If you are a non-profit that aims to serve Native Hawaiians, Alaska Natives, and Native Americans, this grant can offer you funding to develop projects and businesses that can contribute to these communities.
Dare to Dream
The Dare to Dream Grant was designed to help college entrepreneurs realize their dreams through a multi-stage program. You can get $10,000 as startup funding and have access to seminars to help you develop your business skills.
Community Advantage Loans
This is another program of the SBA that does not really focus on minority-owned businesses but help small business owners who cannot quality for traditional business loans.
Community Connect Grants
If you are running a business that provides internet connection to communities, this grant can offer you funding if you do business in rural areas where the big ISP providers are not offering services.
Operation Hope is an organization that offers loans and resources to budding entrepreneurs from low-income communities.
This is another early-stage fund that helps women- and minority-owned or managed businesses in the Midwest. They have strict criteria when it comes to businesses they support and primarily focus on the fields of clean technology, information technology, consumer goods, biotechnology, and communications.
This is a program that aims to help communities affected by the slowing coal mining industry. If you’re business is aligned with their goal of helping those who lost their jobs related to coal mining, then you might have an opportunity you can explore with them.
Service Corps of Retired Executives or SCORE is a nonprofit that exclusively helps small businesses. They do not offer loans directly but offers resources and training that can help you succeed.
This list is just a short list of possible lenders that will work with you, but don’t limit yourself and feel free to explore other potential sources of startup funding.
Our team at Startupbusinessloans.co has compiled resources that can help entrepreneurs belonging to the minority seek better opportunities and available funding. Visit our website today and find lenders that will work with you.