JobHeart Fund to aid small businesses of color
by One Nation News Staff
Have you tried everything and you still need money for your small business? Can you pay that money back with reasonable interest or offer incentives from your business? Then your small business – especially if it is a black, Hispanic, Asian or Native American-owned business – has a new resource for funding.
One Nation News will host a locally-focused small business crowdfunding site called the JobHeart Fund. Our goal is to provide an alternative source of funding for small businesses with limited access to traditional financing. Business owners of color rarely receive bank loans to start, grow or maintain their companies; entrepreneurs of color with great ideas have a better chance of winning the lottery than receiving venture capital funding.
That reality has changed. The JobHeart Fund will allow your locally owned small business to seek funds directly from the community it serves. When connections are made, both your business and the individual funders that believe in it prosper.
Here's how it works: Your business signs on with the JobHeart Fund and asks for a specific amount, say $1,000. You choose the timeframe in which the money will be paid back and the amount of interest you are willing to pay. The public then browses through the business profile you created. If you make a compelling case that your business can pay the money back on time, 100 people could, for example, pledge $10 each with the expectation of each of them receiving $12 back (if a 20% rate is selected).
Or, in lieu of money, JobHeart Funders may choose to accept alternative payment – for example, a restaurant may offer a $20 value dinner for a $10 pledge.
The money may be used for:
Payroll shortfall
Late payment from customer
Renovation
Emergency
Inventory Purchases
Start-up capital, etc.
If you are interested in helping local small businesses, sign on as a funder. If you are a small business owner, especially a small business owner of color, sign on and let the community help you.
Small Business Owners sign up in advance at our Business Nation Multi Cultural Directory. Go to: http://www.onenationnews.com/MultiCulturalDirectory/MultiCulturalDirectory.asp.
Be sure to include your email address when filling out form; that is how we will contact you when the funding starts.
Potential funders, there is no obligation to fund, but if you want to support local small businesses, send an email to: info@onenationnews.com. In the subject line, write “JobHeart Fund.” We will contact you when the site is live.
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