Featured Stories

In this section, we frequently bring to our members and readers inspiring success stories, business tips, useful development and management tools, and assistance programs for small businesses.

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Minority businesses shut out of stimulus loans (Nguoi Viet)
News - Featured Stories
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Photo courtesy of New America Media

Thursday, January 07, 2010    By Arron Glantz, New America Media 

Loans handed out to struggling small businesses as part of President Barack Obama’s stimulus package have largely shut out minority businesses especially those owned by African Americans and Latinos according to data provided by the federal government’s Small Business Administration (SBA) to New America Media (NAM).

On June 15, the SBA using money from the $787 billion American Recovery and Reinvestment Act launch-ed the ARC program, America’s Recovery Capital, giving banks and credit unions 100 percent guarantees so they’re taking no risk when they make loans of up to $35,000 to previously successful, currently struggling small businesses to help them ride out the recession.

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Boat People SOS boosts Refugee Businesspeople
News - Featured Stories

Reprinted from Life Stream.

By Annie Nguyen. Research assistance by Jaehee Park

Money for small businessesSilver Spring, MD, October 1 – Have you ever wanted to be your own boss, run your own business, decide your own future? If you’re a refugee living in the greater DC metropolitan area (which includes much of Virginia and Maryland) and want to achieve those goals, Boat People SOS wants to talk with you about our Road to Independence through Savings and Education (RISE) program, through which you can secure up to $10,000 in loans to start your own business!

 

The RISE microenterprise program recognizes that most refugees come to the United States with nothing more than the clothes on their backs and need ways to provide for themselves and their families. Having little does not mean that they are incapable, however. Many refugees have had some previous business experience, and can transfer those skills to running small businesses here. Additionally, refugees often have the determination and ingenuity to make a small business venture successful.

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