Minority Business Funding:
What You Need To Know To Get Approved!

Minority business funding is primarily aimed at providing financing solutions and access to funds for minority business enterprises and women entrepreneurs who require loans to manage their business operations in a more efficient manner.


Most minority business enterprises can also apply for business grants offered by the government. Although most of these business grants need not be repaid back, they are given under special conditions and may be suitable for only certain kinds of businesses.


In addition, minority business funding also provides assistance to certain minority groups, and who belong to historically under-represented communities when it comes to business financing.

Some Benefits Of Minority Business Funding Solutions

These days, there are many better options available for minority business enterprises through private lending firms who favor providing funds to such enterprises.

Compared to other government led agencies, it is easier to secure business loans from these private lenders on simple repayment terms and conditions.


The process of loan approval is also quicker and there are fewer requirements and loan lending criteria for these kinds of minority business loans through private agencies.

What Are The Different Minority Business Funding Options Available?

There are many kinds of minority business loans available today, including some that are offered by the Small Business Administration (SBA) and its allied Minority Business Development, in addition to loans that are available from banks for these purposes.


However, most of them require such companies to furnish all the information about their business and need a solid credit history. Though the repayment terms are generally fixed, these agencies favor medium to large businesses for providing loans since they tend to have a better credit standing and established presence in the market. 


Here are a few types of minority business loans that are available and may be suitable for your business:


-Micro Loans For Start-Up Enterprises


Generally, these kinds of loans are easy to obtain as they do not require any collateral as security and they are suitable for smaller amounts of funds.

These kinds of micro loans may be best for start-up businesses, which require capital infusion into their business during the initial phase to manage all the operating costs.


The loan repayment terms with micro loans are also shorter ranging between 1-3 years, which can make them an attractive option for many companies. 


-Business Cash Advances


Minority business enterprises that need to fund their business can avail of business cash advances through private lending agencies that specialize in these kinds of loans.

They typically work with all kinds of businesses, ranging from small to mid-sized firms that are minority-owned and require quick financial assistance.


The process is more streamlined with a simple application process, high approval rates and easy access to unsecured funding from these private lenders. 


-Unsecured Line Of Credit


An unsecured line of credit may be the viable alternative for many minority business enterprises that require funds for managing routine and unexpected expenses arising in the business.


It provides flexible re-payment options with no need of any collateral and allows free use of the capital to invest in any of your working capital needs.


These kinds of loans are suitable for start-ups and small business owners to avail of quick business loans to meet any of their business obligations. 


-Equipment Leasing


Minority business enterprises that require quick access to capital for purchasing equipment and/or machinery for their business operations can apply for equipment leasing and financing options through private lenders.


Business owners who are specifically looking to purchase any special equipment and need some financial assistance can find a range of equipment leasing solutions with some flexible repayment options.


Read more about small business loans for women, as well as unsecured small business loans.

Tips For Getting Access To The Best Minority Business Funding Options

-Firstly, it is important to understand the different kinds of options available in the market for acquiring business funds and gather enough information and data about the different lending agencies that offer such financial assistance to minority business owned enterprises.

Compare the different rates and terms by these agencies before narrowing down to the best possible option. 


-Look for reliable private lending partners that offer funding for women-owned businesses which may be best suited for women entrepreneurs. 


Business Funding Advisors, through our network of private lenders, offer all kinds of commercial loans ranging from bridge financing, mezzanine financing to start up and small business loans for all kinds of commercial enterprises.


You can choose to discuss some of the best possible loan options suitable for your business with our team of experts. Get access to quick and easy funding options with a simple application process with higher approval rates.


If you need funding for your minority-owned enterprise, small or large, scroll down to our quick commercial loan application below. To apply for an unsecured small business loan, go here.


QUICK COMMERCIAL LOAN APPLICATION


We provide FREE, no obligation evaluations, with no upfront costs, or expensive fees for approval to our private lender programs.


- Minimum loan amounts (for commercial building projects): $100K with no maximum.


(Loans approved for commercial only, not single-family residential projects.)


- No pre-payment penalties on programs offered.


We will respond to your loan application within 24 hours!


Commercial Loan App

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Return to Business Funding from Minority Business Funding


Minority business funding solutions are available in:


Merchant Cash Advance and

Working Capital Loan Programs

are available in:


Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming


Commercial loans are available in:


Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware,

 Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming


COMMERCIAL LOAN PROGRAM HIGHLIGHTS


Commercial Real Estate Programs

· Lending Area: Nationwide & International


· Loan Size: $100,000-no maximum


· Rates as low as 3.74%

· up to 90% LTV


APPLY HERE

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Commercial Development & Construction Loans

· National & International


· $2MM-$50MM


· Interest Rate: 5-9% Fixed (1% for churches)


· Amortization: up to 25 years


· Zero fees


· Points: Up to 3%, paid at closing


· Term: 5 yrs; also can structure a construction to permanent loan with interest only during draw down periods.


APPLY HERE

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Hard Money Loans Rates and Criteria:

· Loan Size: $100K-$100MM


· Lending Area: National & International


· Collateral: We lend to mainly on commercial real estate, including raw land and development projects


· Interest Rates: 7-14% (rates depend on collateral)


· Amortization: Interest only


· LTV: Up to 80%

· Origination Fee: 1-4%

· Closing time: 1 week to 30 Days


APPLY HERE

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Bridge Loans

· Loan Size: $1MM-$15MM


· LTV: Up to 75%


· Rate: 5-7%


· Term: 1-3 years, Interest Only


· Property Types: Office, Retail, Industrial, Multi-Family, Manufactured Housing, Condominiums, Self Storage, Special Use, Hospitality, Assisted Living/Congregate


APPLY HERE

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Unsecured Business Lines of Credit

· $25,000-$100,000 (start up businesses with no established revenue and business owner with good credit)


· $100,000-$500,000 (established businesses w/ revenue of $1MM or more; no collateral if good credit and financials)


· 0% intro rates on business credit card solutions, to 1-5% over prime for large credit lines.


· No "subprime" unsecured lines


APPLY HERE

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Click Here To Apply for A Business Cash Advance or Working Capital Loan


Bank ACH or Credit Cards


90% Approval Rates (for most industries)


- Minimum 4 months in business and $8,000 avg. monthly revenue


- No Collateral Requirements; Bad credit is OK


- One Week Funding


- Borrow $5K-$500K in as little as 24 hrs


- Short, simple loan process


- Streamlined underwriting

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Restaurant-Retail, 
Small Business Loan Program


  • · Unsecured Loans up to $1,000,000 per location

  • · No Collateral Required

  • · Minimum Annual Sales: $150,000

  • · Minimum: 550 FICO

  • · Must be in business at least 1 month to document sales

  • · Loan amounts below $150,000 require NO tax returns or financial statements


APPLY HERE

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Customer Finance Programs for Businesses

· Can finance your customers down to a 500 FICO;

can finance your turndowns from your current credit provider


· Instant online credit processing and approval


· E-signature capabilities


· Can purchase or collect bad debt portfolios


· Industries include: Medical, Dental, Jewelry Retail, Furniture, Memberships, Private school tuition, Security/Alarms, Vocational Schools, Travel, etc.


APPLY HERE

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Click Here to Apply for

A Private Lender Commercial Loan


- Zero upfront costs, zero fees for approval to our programs.


- Minimum loan amounts: $100K for commercial building projects, with no maximums.


- No pre-payment penalties on programs offered.

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Click Here To Apply for A Merchant Cash Advance or Working Capital Loan


- Bank ACH or Credit Cards


- 90% Approval Rates (for most industries)


- Minimum 4 months in business and $8,000 avg. monthly revenue


- No Collateral Requirements; Bad credit is OK


- One Week Funding


- Borrow $5K-$500K in as little as 24 hrs


- Short, simple loan process


- Streamlined underwriting

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