The organization has a flexible payback model where payments are determined from cash flow instead of being a set amount each month. The Founders First Capital Partners offers a unique take on funding with “revenue-based investment” for service-based companies led by minority, veteran, or women founders. ![]() Business owners can search for local financial institutions that have received money from the CDFI Fund and that, in turn, should be able to provide tailored assistance. Many Black-owned businesses have been helped by CDFIs because these institutions specifically “provide loans, investments, financial services and technical assistance to underserved populations and communities.” On top of this, the CDFI Fund offers tax credits to spur investment. business owners by increasing access to capital. Treasury Department, plays a vital role to help lesser-served U.S. The Community Development Financial Institutions (CDFI) Fund, part of the U.S. ![]() Community Development Financial Institutions Fund Additionally, the firm recently announced a strategic partnership with KingsCrowd to launch Flex Fund II: a $3 million fund that will bring new startups into the Backstage portfolio. To date, the firm has invested more than $7 million in 200+ companies led by underrepresented founders. Backstage Capital founder and managing partner Arlan Hamilton inspirationally started the firm after experiencing homelessness and has convinced business all-stars like Marc Andreessen and Chris Sacca to invest in the fund. The venture capital firm Backstage Capital is known in the tech industry for its commitment to investing in companies led by underrepresented founders including people of color and women. Here are thirteen government agencies, programs, and venture capital firms that can assist Black-owned businesses with getting capital. ![]() Knowing that obstacles still exist, both public and private organizations have worked to boost funding opportunities for Black-owned businesses. Historical research shows that Black-owned non-employer businesses are far less likely to receive financing than white-owned firms, and Black entrepreneurs are about three times as likely to have growth and profitability hindered by a lack of financial capital. venture capital went to Black entrepreneurs. One of the largest factors holding back Black-owned businesses is access to financial capital: In the first half of 2021, just 1.2% of total U.S. In the world of entrepreneurship, Black Americans have been historically underrepresented. Knowing that obstacles exist particularly for Black business owners, both public and private organizations have worked to boost funding opportunities for Black-owned businesses.
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