Our book is in reprint but here are some business finance tips.
Minority Business Loan Sources
Presently my book is in reprint. However, small business should go to microloan/finance organizations like Accion and Grameen Bank. Google them.
Accion is a Latin/Hispanic Microfinance organization (but they loan to all minorities in the US). They've given out over 30 billion dollars to small business. I got numerous loans from them without credit. I can personally vouch for them.
They did check my credit and actually helped me build credit. The give money to minority business in the US. Accion USA loans out billions every year. They are even in Africa and India giving out business loans.
You do have to show income in your business or a job to pay back the loan. But unlike traditional business credit where it is difficult for even million dollar businesses to get SBA loans microfinance organizations look to finance small businesses a lot to minorities and immigrants who don't have good or any credit.
Google: Accion USA, and Grameen Bank. There may also be microfinance organizations in your state. Microfinance organizations give out $2,500 to $25,000 in the US. Inbox me for more info if interested.
BTW having a good relation with a microfinance source is essential for cash flow situations. When I had my loan with Accion and made my payments on time the would call me every 1 year or so and ask if I wanted more money or refinancing. So as long as I paid on time and was in good standing I could keep borrowing.
In short it was like I had a $10,000 revolving line of credit for slow seasons and cash flow crunches. Before I signed up for them I had no credit. After paying on time and them reporting to the credit bureaus I built my credit up to over 750. But in business when you need supplies or to expand your business you need a reliable "go to" finance source.
Also everyone should know you never give money to a loan source upfront. Incur no up front fees.
A legitimate loan source will charge you fees on the completion of the loan as part of the repayment. Also legitimate business loan sources will put part of all your payments toward principal and not just initially towards interest.
About the Publisher of Minority Business Financing
Minority Business Financing is Published by Kamau Austin. Austin is a published author in the field of business financing.
Also Kamau is a popular Blogger, Writer, and Internet Marketing Professional helping small businesses grow more profitable businesses online. If you need web design, blogging, search engine or social media promotion contact him at Search Engine Plan
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