Displaying items by tag: Financing

In 2006 Gwen Hurt was given a wine making kit for Christmas. She made120 bottles of Chianti. While trying to decide what to name her creation, her daughter Brittny suggested she name it something she loves. “I loved and was passionate about shoes,” recalls Hurt, “and now this was a new love.” Hence her company, “Shoe Crazy Wine,” was...

Just $1 of every $23 in conventional small business loans goes to a woman-owned business. According to the U.S. Small Business Administration minority small business owners are disproportionately denied credit when they apply for it, regardless of credit scores, income, or profits. What’s more small businesses, especially those that get turned d...

Minority-owned banks are claiming that the federal government has shut them out of tax credits intended to spur economic development in under-served communities. They are referring to last month’s distribution of funds by the Community Development Financial Institutions (CDFI) Fund, an arm of the Treasury Department.CDFI issued $3.5 billion in New...

Each year the many forms and products of predatory lending drain at minimum hundreds of billions of dollars from the nation's economy and communities across the country....

Black business owners struggle to secure the types of funding that their larger counterparts easily obtain. Such capital would help them survive when a major contractor pays its invoices as swiftly as snails....

The Center for Venture Research estimates that U.S. angel investors invested $24.1 billion in 73, 4000 small businesses in 2014. Many of the investments were in startup or very early stage companies. Yet, less than 1% of all U.S. private equity is invested in black owned businesses. What’s more, minorities account for less than 5% of the angel p...

The city of Baltimore will receive US federal government assistance to repair tens of thousands of dollars worth of damage after recent rioting and unrest. To help with those efforts, the U.S. Small Business Administration has committed more than $1 million in additional assistance toward Baltimore businesses in an attempt to help them rebuild.[Rel...

Friends and family of new entrepreneurs are the greatest single source of outside funding but just because it's common, doesn't mean you shouldn't use caution....

Black-owned businesses face tougher challenges than other groups when seeking bank loans, according to a new study by the Gallup polling company commissioned by Wells Fargo. Nearly half (47 percent) of Black-owned businesses operate in the South and the study found that 77 p...

The idea of tapping into your personal and professional networks for crowdfunding purposes, may seem like a humbling approach to business for some but for many entrepreneurs this is a more than acceptable way to build the initial capital for an upcoming business venture.Brenda Beener, owner of Seasoned Vegan restaurant in Harlem New York, said...