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3 Replies Last post: May 11, 2009 9:24 AM by ggoodard

financing for minority business owners

May 8, 2009 6:21 PM

sharonhendrix 1 posts since
May 8, 2009

Hello all,

I am a black female business owner who is interested in starting an upscale extended stay hotel/motel. I have found foreclosed property I would like to
purchase to renovate. Does anyone know of any government programs that help minorities get businesses up and running? Thanks for any info.

Sharon Hendrix
Hendrix Interior and Design

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LUCKIEST 7,939 posts since
Aug 6, 2007

1. Re: financing for minority business owners May 9, 2009 7:48 AM

Financing for minority business owners

Welcome Sharon. SCORE can help get businesses up and running.

SCORE is FREE both in person and online.

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phanio 486 posts since
Apr 7, 2009

2. Re: financing for minority business owners May 9, 2009 12:12 PM

Unfortunately there are not really that many government programs for anyone in any busiuness. The SBA will back a loan if you qualify. or, you can try conventional lending. Keep in mind that if you dod not plan to occupy the property you are purchasing - then it is considered and investment - meaning lower LTV adnd higher interest rates and fees.

We offer a few resources for investment property on our website - might want to check them out - no cost to use our site.

Business Money Today

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ggoodard 79 posts since
Nov 29, 2008

3. Re: financing for minority business owners May 11, 2009 9:24 AM

Sharon, I may be able to help. Do you have the details..the cost, revenovations, time table etc? Please email me at

ggoodard@aol.com

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ForumsFinancing Tips

This Question is Possibly Answered

financing for minority business owners

May 8, 2009 6:21 PM

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