Westside Future Fund’s Post

This or That: Discover Unique Financing Opportunities with Growth Partners Arizona (GPAz) 🌵 Are you ready to explore alternative financing options that make a meaningful impact on the local economy? It's time for 'This or That' with Growth Partners Arizona (GPAz)! Let's dive in and discover what sets GPAz apart: Option A: Traditional Lending Opportunities 🏦 These opportunities are suitable for borrowers who meet the strict criteria of traditional lenders. 📈 Eligibility requirements and standard lending practices apply. 💼 Benefits include established structures and processes. Option B: GPAz's Alternative Financing 💡 These financing opportunities are designed for nonprofits and small businesses in Arizona. 🔍 GPAz is willing to work with borrowers who may not qualify for traditional lending. 🌍 The focus is on making a positive impact on the local economy. Did you guess it? The correct choice is Option B: GPAz's Alternative Financing! 💼 GPAz's unique approach combines responsible lending with community impact: 🌱 Deploying capital to those who need it most, supporting nonprofits and small businesses. 💰 Repayments from borrowers are reinvested to support other local organizations. 🤝 GPAz's focus is not solely on profits but on creating a lasting impact on the local economy. 🌟 Unlock the door to financial opportunities with a purpose. Choose GPAz, where responsible lending drives community growth and empowerment. • • • #EntrepreneurialSpirit #EntrepreneurialDrive #BusinessGrowth #InspirationEveryday #ContinuousLearning #ResilientEntrepreneur #UnleashYourPotential #PersonalDevelopment #ImpactfulGiving

Today, the U.S. Department of the Treasury announced the approval of Washington, D.C.’s plan for up to $62 million in funding under the American Rescue Plan’s State Small Business Credit Initiative (SSBCI). The funding will be used for increasing technical assistance funding to support small businesses and entrepreneurship and expand access to capital. Deputy Secretary of the Treasury Wally Adeyemo stated, “The State Small Business Credit Initiative is helping to unlock the potential of entrepreneurs in underserved communities in the District of Columbia and across the nation who may have otherwise never had the support needed to pursue their business ideas and ambitions.” Learn more: https://lnkd.in/eEDjUZTB #accesstocapital #funding #smallbiz #microbiz

Join us for a special free webinar tomorrow, 05/16, to learn about Advantage Illinois and the Digital Equity Plan: An Instrumental Financial Resource that includes AAPI-owned Businesses and Startups: Advantage Illinois Loan Program Thursday, May 16, 2024 10:00 AM - 11:00 AM Are you a business owner in need of capital? We will share information about Advantage Illinois – SSBCI 2.0 PLP. We also will share a resource on Closing the Digital Divide in Illinois. This Asian American and Pacific Islander (AAPI) Heritage Month, we are celebrating AAPI-owned businesses and highlighting how this Participating Loan Program can help fill the gaps that prevent small businesses from accessing financing to grow, expand, and create jobs. We work with a group of participating lenders to offer term loan financing at lower rates. Join us to learn more about Advantage Illinois – SSBCI 2.0 PLP, eligibility criteria, and the loan process. As an additional resource, the Illinois Office of Broadband will share its Digital Equity plan, and the historic funds coming to Illinois and how the community can prepare themselves for this grant program. Presenters: • Sharon Polk, Office of Entrepreneurship, Innovation & Technology • Alicia Ross, Office of Broadband REGISTER HERE: https://lnkd.in/gFmevdZt

At Boston Impact Initiative (BII), we are committed to closing the staggering $600 million funding gap for small businesses of color in Massachusetts. A heartfelt thanks to Philip (Phil) Brown and The Bay State Banner newspaper for highlighting the systemic barriers faced by minority-owned businesses (MBEs) and shedding light on how we can collaboratively bridge this gap. By uniting efforts across the public, private, and philanthropic sectors, and leveraging the spectrum of capita, we can create pathways to economic prosperity and equity for all. Let’s continue to work towards a more inclusive and sustainable economy. Read the full article here: https://lnkd.in/ej8JGq3q #EconomicEquity #SmallBusiness #InclusiveGrowth #ImpactInvesting #MBEs #EconomicJustice

How do we support our small businesses in an inclusive way, aka the only way that we will actually rebuild our economy after this crisis? The PPP and EIDL funds will only work for some. What do we add? First comment: Here are my three recommendations. What would you add? https://lnkd.in/dr9kjnt

Following a year of changes at Lancaster County’s main economic development organization, new leaders of EDC Lancaster County, formerly known as the Economic Development Company of Lancaster County, laid out their plans on Tuesday to keep the county’s business climate thriving. Here are three takeaways from the annual meeting that brought more than 400 people to the Lancaster Marriott at Penn Square: 𝗪𝗵𝗮𝘁’𝘀 𝗰𝗵𝗮𝗻𝗴𝗲𝗱, 𝘄𝗵𝗮𝘁 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀 𝗮𝘁 𝗘𝗗𝗖 𝗟𝗮𝗻𝗰𝗮𝘀𝘁𝗲𝗿? Last July, President Lisa Riggs stepped down to take a position with Team Pennsylvania, and a few months later, Ezra Rothman became president. Stepping into the board chair role is Liz Martin, president of Ironstone Spring Farm, who takes the reins from Troy Clair, president and CEO of Clair Global 𝗪𝗵𝗮𝘁’𝘀 𝗮𝗵𝗲𝗮𝗱 𝗹𝗼𝗰𝗮𝗹𝗹𝘆? Rothman said EDC expects to distribute funds from a new program, the State Small Business Credit Initiative, which matches private funding for small business projects between $50,000 and $200,000. EDC Finance Corporation was selected to receive $5.1 million in funding to establish a revolving loan fund for small businesses in Lancaster and Adams counties. 𝗪𝗵𝗲𝗿𝗲 𝗱𝗼𝗲𝘀 𝗟𝗮𝗻𝗰𝗮𝘀𝘁𝗲𝗿 𝗳𝗶𝘁 𝗶𝗻 𝗣𝗲𝗻𝗻𝘀𝘆𝗹𝘃𝗮𝗻𝗶𝗮’𝘀 𝗻𝗲𝘄 𝟭𝟬-𝘆𝗲𝗮𝗿 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆? Lancaster County is growing in key sectors that are pivotal to the state’s economy. The plan outlines priority sectors of agriculture, energy, life sciences, robotics and technology, which represent the areas for greatest growth potential. Abby Smith, president and CEO of Team PA, a nonprofit, nonpartisan statewide economic development organization, advised local businesses to explore how they fit into the economic plan and identify opportunities to collaborate. It can be read at pagetsitdone.com.

Here’s why you should be raising private money for your business ⬇️ What do I mean by raising private money? ❌ Not a Bank ❌ Not a hard money lender ❌Not even small Financial Institutions ✅ Regular Degular people like you and I who have pots of money sitting around collecting dust. ✅ Someone who needs you to put their money to work. ✅ Someone who doesn’t want to be apart of the day to day business and only wants to provide financial resources. Raising private money gives you: 🔥 Independence and Control: Raising private money allows entrepreneurs to retain control of their business without diluting ownership through public offerings or venture capital investments. 🔥Flexible Terms: Private investors often offer more flexible terms compared to traditional lenders, allowing for customized agreements that suit the specific needs of the business. 🔥Access to Expertise: Private investors often bring valuable expertise, insights, and industry connections, providing additional guidance and support beyond just financial resources. 🔥Faster Decision-Making: The process of securing private funding can be quicker compared to navigating the complexities of public markets or dealing with extensive due diligence by institutional investors. 🔥Confidentiality: Unlike public fundraising methods, raising private money allows businesses to keep sensitive information private and avoid extensive disclosure requirements. 🗣️You can be raising money for your business within only a few hours and I’m gonna show you how EASY it is! 🗣️ DM the word “WORKSHOP” and let’s start raising some money together. 💪🏾

Following a year of changes at Lancaster County’s main economic development organization, new leaders of EDC Lancaster County, formerly known as the Economic Development Company of Lancaster County, laid out their plans on Tuesday to keep the county’s business climate thriving. Here are three takeaways from the annual meeting that brought more than 400 people to the Lancaster Marriott at Penn Square: 𝗪𝗵𝗮𝘁’𝘀 𝗰𝗵𝗮𝗻𝗴𝗲𝗱, 𝘄𝗵𝗮𝘁 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀 𝗮𝘁 𝗘𝗗𝗖 𝗟𝗮𝗻𝗰𝗮𝘀𝘁𝗲𝗿? Last July, President Lisa Riggs stepped down to take a position with Team Pennsylvania, and a few months later Ezra Rothman became president. Stepping into the board chair role is Liz Martin, president of Ironstone Spring Farm, who takes the reins from Troy Clair, president and CEO of Clair Global 𝗪𝗵𝗮𝘁’𝘀 𝗮𝗵𝗲𝗮𝗱 𝗹𝗼𝗰𝗮𝗹𝗹𝘆? Rothman said EDC expects to distribute funds from a new program, the State Small Business Credit Initiative, which matches private funding for small business projects between $50,000 and $200,000. EDC Finance Corporation was selected to receive $5.1 million in funding to establish a revolving loan fund for small businesses in Lancaster and Adams counties. 𝗪𝗵𝗲𝗿𝗲 𝗱𝗼𝗲𝘀 𝗟𝗮𝗻𝗰𝗮𝘀𝘁𝗲𝗿 𝗳𝗶𝘁 𝗶𝗻 𝗣𝗲𝗻𝗻𝘀𝘆𝗹𝘃𝗮𝗻𝗶𝗮’𝘀 𝗻𝗲𝘄 𝟭𝟬-𝘆𝗲𝗮𝗿 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆? Lancaster County is growing in key sectors that are pivotal to the state’s economy. The plan outlines priority sectors of agriculture, energy, life sciences, robotics, and technology, which represent the areas for greatest growth potential. Abby Smith, president and CEO of Team PA, a nonprofit, nonpartisan statewide economic development organization advised local businesses to explore how they fit into the economic plan and identify opportunities to collaborate. It can be read at pagetsitdone.com

Let me clear up some confusion. ERC (Employee Retention Credit) is not a Loan - it’s a refund. Unlike funds from the Paycheck Protection Program (PPP), the ERC is not a loan. It’s a refundable tax credit; you don’t have to pay it back. There’s no need to apply for forgiveness, either. If it generates a refund, it’s automatically yours to keep. The Employment Retention Credit is a potential financial benefit that no business owner can afford to pass up. However, to ensure that your business qualifies for this tax credit and secures the full credit amount it’s entitled to, I strongly recommend working with ERC experts, such as those at @Lendio Denver. See If You Qualify For The ERC Lendio Denver’s easy-to-use ERC application is designed to simplify the process at every step. Get Started at www.LendioDenver.com #Refund #smallbusiness #entrepreneur #funding #businessbanker #SBA

How do we support our small businesses in an inclusive way, aka the only way that we will actually rebuild our economy after this crisis? The PPP and EIDL funds will only work for some. What do we add? First comment: Here are my three recommendations. What would you add? https://lnkd.in/gCkrst9