|LIAACC President Phil Andrews|
Many small businesses owned by African-Americans and companies in general face difficulties getting loans, despite strong sales. They may face paperwork problems, insufficient accounts, lack of data, liens, unpaid debts or have owners with credit trouble. As a result, a good company may do badly when it comes to getting financing even from a willing lender. Now there’s a new source of help in overcoming these obstacles for minority-owned and other businesses seeking funding.
The Long Island African-American Chamber of Commerce (LIAACC) has used a portion of a grant to help small business owners to hire TMI & Partners, led by Alvin Hartley, to provide free counseling and assistance to African-American owned and other businesses in Nassau, Suffolk, Queens and Brooklyn to obtain funding.
The idea is to give them the help they need to resolve issues and bridge the funding gap that too often stands between small businesses and the funds they need to launch, survive and grow.