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.