Going after venture capital
Mercer Business, Feb 01, 1997 by Fischer, Dorothy
The Fleet Community Development Corporation was set up to respond to the need for venture capital in certain targeted communities. "These are businesses that might not normally qualify for bank financing," explains Donald Prusock, a vice president in Fleet's community development office.
The bank is now focusing on the low to moderate income New Jersey communities in which it will be offering this service.
Prusock explains that the CDC's basic model is designed to develop partnerships with small business assistance entities, those organizations who provide technological assistance as well as loans. The CDC leverages their dollars so they go farther.
Seidel's advice for any business owner is to get acquainted with those in the banking industry--talking to branch managers, setting the stage to develop contacts, getting to know the key players in the organization who can be instrumental in helping businesses to grow.
"They shouldn't be shy," he advises.
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions
Presented by American Express