Venture Capital
and Minority Business Programs
While
government-based programs have taken strong steps to eradicate
the prejudice, the same is not true for non-government programs,
such as venture capital and angel investors.
When
researching "minority venture capital firms" or
"angel investors", be wary. Scams run rampant. We even
ran across one that charged a non-refundable $450
"processing fee"!
The very best
way to avoid scams is to be the searcher, not the searchee (is
that a word?). You find Them; They don't find You. If,
in fact, a "venture capitalist" or "angel
investor" is pursuing you, you can pretty well assume it's
a scam.
Venture capitalists and angel investors don't
have to pursue anyone or anything -- they have plenty of great
projects sitting on their desks.
Other Minority
Business Loan Programs
Here are some
of the organizations that you might check:
Minority
Business Development Agency
American
Association of Minority Business
National
Minority Business Council, Inc.
Diversity
2000
MWBE
Development Center
This is but a tiny list of the
thousands of options available for minority business loan programs.
Your best bet is the check with your local Small Business Administration
office for program specific to your geographical area.
The
Color-Blind, Sex-Blind, Age-Blind, Handicapped Compatible
Business for Minorities
You're looking at
it. The internet, with all its ramifications, is one heck
of a deal for anyone with issues of prejudice.
Your success on
the internet is dependent on (1) your creativity, (2) your
intelligence, and (3) finding the right company.
And also check these pages, as
well as the links to the minority business loan programs at the top of this page:
Investors
for your minority business loan. Conduct your own proactive search for
potential investors, especially if yours is not a typical bank-financed project.
Track
down the hidden investor market -- one that encourages minority business
participation. When the hidden market is presented with a viable project
from a minority-owned firm, it is every bit as likely to fund it as any other
project. Strong projects are in demand in this very active market.
Minority
business loans need strong marketing plans -- plans that demonstrate the
entrepreneur's expertise. Over-research. Be super prepared for any question that
might be thrown your way.
Return to the top
of Minority Business Loan Programs
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C.J. Ralph
Minority Business Specialist
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