How Can Minorities Get Small Business Loans
By Brian Solomon - TMCnet:
There is a perception - even among minorities - that minority business loans and venture investment aren’t profitable. But that simply isn’t true. In fact, a key finding of the Kauffman Foundation report is that minority business loans are very successful.
According to the Kauffman Foundation analysis “Minorities and Venture Capital: A New Wave in American Business”, minority enterprise venture capital investing “is very profitable”, with an average net return per investment of over $1 million — almost a 100% profit return.
The findings for the venture capital investments would most certainly be duplicated in straight small businesses loans as well. These, too, would prove very profitable.
All of which says that there is no reason to go to a lender or investor with hat in hand. You’re not looking for a handout. You’re looking for a business partner.Minorities can–and do–get financing. Your business can be one of the success stories. You already know about business plans. Make yours the best business plan possible.
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March 5th, 2008
Most entrepreneurs need to borrow money at some point. When you’re in the market for business financing, determining what kind of loan you can qualify for is the first step.