Minority Business Development Agency (MBDA) programs and the Economic Development Administration’s (EDA) Revolving Loan Fund (RLF) program are assisting to solve disparities faced by Minority Business Enterprises (MBEs). The RLF program of the EDA assists businesses by capitalizing on local investment programs that provide gap financing to businesses that may not be able to obtain traditional bank loans, while MBEs can contact a local MBDA Business Center for a variety of technical assistance, including access to capital, contracts, and markets. Gaby Long of Eureka, California, is one Black entrepreneur who has personally seen the benefits of these Department of Commerce initiatives. Long opened A Taste of Bim, a genuine Caribbean cafe in Eureka’s historic Old Town, in 2015.
How Your Start-up Can Leverage the Looming Recession with Phil Sanders, Investment Principal at New Media Ventures
A recession is coming — or we’re already in it. How should your start-up respond? Join investor Phil Sanders, Investment Principal at New Media Ventures, as he shares how start-ups can utilize creative fundraising techniques, non-dilutive capital opportunities, and team-building strategies in tough economic times.