Minorityfinance.com Facilitates $500,000 in Small Business Financing

July 15, 2010 - PRLog -- A woman-owned construction company, contacting us through our Business Financing Inquiry page (http://www.minorityfinance.com/mfinform.html) was referred to one of our partners, a contract financing firm, in April, 2010. The woman owned construction company had just won a $227k contract with a city in Indiana, but was having trouble finding financing, due to number of issues. The problems faced in this case are familiar to most small business owners:

1. The company is registered as a woman owned sole proprietorship. Mainstream lending institutions typically only lend to Corporations or LLC's.
2. Work on the contract was underway and the woman owned firm spent over $30,000 on materials. They did not have enough money to cover payroll.
3. The firm is a start-up and this was their very first contract. As a result, they had no prior history of performance.  

Our Solution

1.  Via a partner firm, we were able to help the woman owned firm find a lender that works with sole proprietorships.
2. The women-owned firm was able to get financing approved in days and receive the funding they needed to make a payment covering an outstanding materials invoice for $30,000. This freed up cashflow needed to cover payroll.
3. Despite the fact that the company is a start-up, they have not only been approved for the current contract and received the financing, but they are now in position to receive additional work valued at $500,000 because of the contract financing facility now in place.

Minorityfinance.com received a small referral fee (less than $100.00) for our role in the transaction, thus making sure that the bulk of the financing actually went to the business needing it. This transaction shows that even in the current economic environment, there is hope. We are pleased that we were able to play even a small role in this transaction.

If you are small minority or woman owned business needs help, please contact us. While we cannot guarantee financing, we will try to get you the money you need. For additional information, please see our Minority and Women-owned Company Small Business Financing Guide and Workbook, 2010 Edition. $99.00. Purchase at: http://www.minorityfinance.com/mfinform1.html

The Guide and Workbook consist of two sections: The Guide provides detailed business financing information of specific relevance to Minority and Women-owned Businesses. The Workbook is an electronic document with lists of potential financing sources (of course, we cannot guarantee that you will find financing), blank loan applications, grant forms, business planning and financial reporting templates, IRS Forms and other documents.

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Minorityfinance.com is owned by Creative Investment Research, Inc., an investment research and management company. We research and create socially responsible investments and provide investment advisory services. The company was founded in 1989.