Minority business funding is made available through a variety of government organizations, and other business organizations which are separate from the government. The Minority Business Development Agency (MBDA) is one example of a group that is available to assist with minority business funding. There are also several Business Development Centers throughout the country which offer assistance to minority owned businesses in need of capital.
Typically female business owners and owners from the ethnic minority qualify for the special minority business funding. These assistance centers may not provide funding outright, but they help the potential entrepreneur get in touch with the resources they need to get the most working capital possible. These resources can include access to business planning resources or financial planning assistance.
Make sure your business has a business plan prepared which details how your business will spend the money given from a loan, and how your business makes money. This may sound simple, but many businesses request financing before they have a plan in place. This is important for both minority, and non minority business owners.
We provide a business capital search engine which has over 4,000 lenders who can help your business find the funding you need. By simply telling us a little bit about your business we can match you with the lenders which can potentially give your business the funding you need.