Small Business Funding for Minorities
IN 2020, NEARLY ⅕ OF SMALL BUSINESSES IN THE USA WERE MINORITY-OWNED. NO MATTER HOW LARGE YOUR BUSINESS IS OR WHAT INDUSTRY YOU OPERATE IN, YOU CAN SURPASS YOUR COMPETITION AND GROW YOUR MINORITY-OWNED BUSINESS WITH UP TO $500,000 IN WORKING CAPITAL FROM OPALESCENT SOLUTIONS IN AS LITTLE AS 24 HOURS.
Fast, Easy
Small Business Funding for Women
Lack of working capital and limited cash flow are the most common challenges reported by minority-owned businesses. Sometimes your business needs an infusion of working capital to meet the challenges of your industry, outshine your competition, and seize opportunities to grow or expand, but many minority-owned businesses have trouble getting the funding they need from traditional lenders. If funding from a traditional lender is approved, it is often for lower amounts with higher interest and shorter terms.
With a simpler application, faster turnaround, and flexible approval requirements, Opalescent Solutions can fund more minority-owned small businesses in as little as one business day. We offer several types of small business funding for minorities, from as little as $3,000 up to $500,000. We fund all industries, including healthcare businesses, medical practices, law firms, retail stores, business services, restaurants, and more.
How To Use
Small Business Funding for Minorities
There are no restrictions on how you can use alternative small business funding for minorities. Small business funding for minorities are most ideal for supporting growth initiatives that will increase your business’s revenue, such as:
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Hiring staff so you can expand services and take on more business
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Purchasing new equipment or technology
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Renovating or remodeling your space to offer a more comfortable environment
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Expanding your business or acquiring another business
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Building a new website or expanding your existing online presence
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Purchasing raw materials or inventory in bulk at lower prices
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Investing in continuing education and training
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Energizing your marketing and advertising to bring in more business
Sometimes, minority-owned businesses may also need a quick infusion of working capital to help meet the unique challenges of their field, such as:
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Meeting changing client and customer needs
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Standing out from competition in your niche
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High cost of equipment or raw materials
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Skilled labor shortages and employee turnover
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High cost of repairing appliances or equipment
How Small Business Funding
for Minorities Work
Minority Owned Business Funding Q&A
What qualifies as a minority owned business?
To qualify as a minority-owned business (MBE), at least 51% of your business must be owned, operated, and controlled on a daily basis by one or more minority citizens. A minority individual is considered a U.S. citizen documented with at least 25% minority origin (Asian-Indian, Asian-Pacific, Black, Hispanic, or Native American). MBEs can self-identify, or they can be certified by a city, state, or federal agency for additional benefits.
Why do i need to qualify for small business loans?
We have a very simple application process, with same day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.
