Show me the money - funding sources for minority/women-owned business - Brief Article
Black Enterprise, July, 2000
Q A
While we were able to personally finance our business during this, our start-up year, we find that in order to grow our business, we must seek alternative financing. Please provide information regarding loans, grants and any other financing mechanisms that might be available to us as a minority/women-owned business.
--N. Janich, South Holland, Illinois
A You might want to start by tapping your own network. Ask for leads from bankers, accountants and attorneys with whom you have relationships. Also, contact these firms that fund minority enterprises.
Syncom Capital Corp. 8401 Colesville Road, Suite 300 Silver Spring, MD 20910; 301-608-3203 Preferred annual revenues: No minimum required Investment policy: Invests in minority-owned technology companies Investment type: Emphasis on early-stage and start-ups Industry preference: Technology, media, telecom and Internet Geographic preference: None GS Capital LP 435 Devon Park Drive, Suite 201, Wayne, PA 19087 610-293-9151 Preferred annual revenues: $500,000 to $3 million Investment policy: Invests in women-, minority- and employee-owned businesses Investment type: Equity, and debt with equity features Industry preference: Nationally franchised businesses Geographic preference: Mid-Atlantic states Opportunity Capital Partners 2201 Walnut Ave., Fremont CA 94538 510-795-7000 Preferred annual revenues: Varies by industry Investment policy: Invests in minority-owned businesses Investment type: Expansion, later-stage, Industry preference: Communications, healthcare, information technology, manufacturing Geographic preference: West Coast
Mail your small business questions to What's Your Problem?, BLACK ENTERPRISE, 130 Fifth Ave., 10th Floor, New York, NY 10011, or send an e-mail to gallopg@blackenterprise.com.
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