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Cozen O'Connor
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The Enterprise Center Introduces $500,000 Loan Pool to Help Small Business Owners Buy Property
Last week, the Enterprise Center, a Philadelphia-based nonprofit organization that helps promote small business development, introduced a new $500,000 revolving loan pool to help minority-owned companies buy property. The loan program is intended to not only increase ownership along commercial corridors but also help small businesses build equity as opposed to renting space indefinitely. The short-term loans will cover up to 75% of business expenses related to due diligence, including attorney fees, closing costs, building appraisals, and more.
Success Stories
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When we first started with The Enterprise Center Capital Corporation, we had maybe 6 or 7 accounts, and we've doubled that now. The Enterprise Center Capital Corporation has been very helpful funding my larger jobs and assisting me with maintaining payroll and buying equipment.
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I hope that when it all opens up that everybody goes out and supports our small businesses.
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Remaining competitive in the current marketplace often requires access to capital at key moments in our business.
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The $14,000 working capital funding will be used to formalize registration as a home care provider and hire initial staff.
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I highly recommend the Enterprise Center and MBDA to diverse founders who are seeking capital to scale their businesses.
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When they’re given easy opportunities to serve, our citizens really step up.
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The CCE has been a helpful place to get questions answered when dealing with the city, how to create recipes, so we can be more consistent, create a budget, and best of all having other ‘foodprenueurs’ to meet and gain ideas and support in their endeavors.
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As my business moves to the next level, leadership training, and management support that the Enterprise Center provides are keys to achieving greater sales and more contracts.
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The Enterprise Center’s Dorrance H. Hamilton Center for Culinary Enterprises (CCE),is a great community to be a part of.
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Working with the MBE Equity Multiplier team has been life changing. I cannot recommend this service more - I'm still mind blown by how much better our pitch has become.
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When I discovered the MBE Equity Multiplier, I knew it was the missing component that would help make my vision clear. This process has equipped me and given me the confidence to push my vision forward to make it a reality.
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