Free Financial Resources / Minority Loans .org
Free Financial Resources / Minority Loans .org

Free Resources for Minority Loans & Small Business Owners

 When it comes to finding resources that provide business outlets for minorities, it is no easy task.

Many websites claim to offer grants, and loans for minorities; but most are offering false hope.

Currently there are only a handful of minority loans available for small businesses. Here we offer insight into some of the most popular minority loans available.

Almost any bank is a potential lender, although eligibility requirements vary among lending institutions. Of the banks SBA works with, Bank of America has been ranked as a top lender to minority groups. Wells Fargo is another minority- and woman-friendly bank, having pledged to lend a billion dollars to African-American, Latino, and women-owned business. To qualify you must be a profitable business, have been in business for at least two years, have good personal and business credit records, and not declared bankruptcy in the past 10 years. Lines of credit can go from $5,000 to as much as $100,000.

The National Minority Supply and Diversity Council (NMSDC) is an organization which provides a direct link between corporations and minority owned businesses. A quick look through its list of member corporations--those companies that want to purchase quality goods and services from minorities on a competitive basis--reveals some of the biggest corporate citizens in the United States.

The web site for the Minority Business Development Agency (MBDA) also offers a wealth of good advice for any small business, minority or otherwise.


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