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I’m looking to grow my real estate business, and I’m interested in government grants available to black- and minority-owned businesses. I’ve reached out to SCORE, but do you have any other suggestions? –D. Thompson, New York
Start your search locally. State and local governments are a great source for providing money to area small businesses. Check out www.business.gov, which lists organizations by state and by industry.
Also, some organizations offer microlending and development courses, as well as guidance to small-business owners. ACCION USA (www.accionusa. org) is national, and Project Enterprise (www.projectenterprise.org) assists New York area businesses. Both provide small loans with considerate repayment terms to those unable to access traditional financing. An added benefit is that you are linked into the network of other small businesses involved in the program. Another helpful Website is the Minority Business Development Agency (www.mbda.gov). There, you’ll find info on both loans and grants. Locally, check out the Empire State Development Division for Small Business Website (www.nyloves smallbiz.com). Also, read Instant Profit: Successful Strategies to Boost Your Margin and Increase the Profitability of Your Business by Bradley J. Sugars (McGraw-Hill; $16.95)
Mail your small business questions to Savvy Solutions, BLACK ENTERPRISE130 Fifth Ave., New York, NY 10011or send an e-mail to email@example.com.