Non-Profit Spurs New Models for Financing Emerging Minority Business Enterprises
Portsmouth, VA August 2008 --
Starting a small business is a venture
undertaken by
a large number of Americans today, especially African-
Americans, Hispanic/Latinos, and women. Sparked
by a sudden career change (such as a lay-off or
retirement), innovation, or simply the need or desire to
generate additional income, entrepreneurship is often
the path of choice by many who long to "be the boss"
and "do it their way". For those who decidedly explore
the world of entrepreneurship, their trek typically
encounters some serious challenges, such as "how
to start their business" and "how and where to obtain
funding (capital)".
While traditional financiers have tightened their credit
standards and increased deposit and collateral
requirements, one Virginia-based non-profit has been
quietly developing and shaping an alternative model
for financing and accelerating seed and early stage
Minority Business Enterprises (MBEs), while providing
quality resources for existing (later) stage companies.
Each year, the Virginia Housing and Community
Development Corporation (VHCDC) convenes its
MBE
Capital Call Conference and Venture Forum and
invites African-American, Hispanic/Latino, and other
minorities to compete for a slot to pitch their product or
service idea to an audience of Angel Investors and
other financiers. The winners get a slot (15 minutes)
to pitch their business opportunity and field questions
from Angel Investors, Venture Capitalists (VCs),
lenders, and specialty financiers. What occurs next is
a new formula for launching new businesses and
accelerating their growth. Through this forum VHCDC
is introducing a new wave of entrepreneurs who are
radically transforming the way businesses are started
and financed.
Now in its third year, the MBE Capital Call™
has
become the premier venue for presenting and
cultivating investment opportunities with minority-led
initiatives seeking capital, mentoring, and strategic
partnerships. This year, the forum extends a special
invitation to African-Americans and Latinos desiring to
discover the art of angel investing. VHCDC hopes to
motivate wealthy, successful African Americans and
Latinos nationwide to get involved to increase the pool
of private equity, industry knowledge, and resources to
assist early stage minority-led, high growth
ventures.
The MBE Capital Call is a forum for minority business
owners and aspiring entrepreneurs to network and
connect with financial industry experts, lenders,
government resources, and private investors and
venture capital firms seeking business development
and investment opportunities with the largest
emerging domestic market in the U.S., Minority
Business Enterprises.
The 2008 MBE Capital Call invites entrepreneurs with
innovative, marketable solutions within the Business
Products and Services, Consumer Products and
Services, E-Commerce, Energy, Entertainment/Media,
Internet, Telecommunications, and Technology
industries to register early at www.mbecapitalcall.com
to compete for a spot to pitch their product, service, or
idea.
The 2008 MBE Capital Call Conference & Venture
Forum will be held Friday, September 26th, 2008 at
the Homewood Suites by Hilton® in Richmond
(Airport), Virginia. For additional information visit
www.mbecapitalcall.com or call C. Renee Turner at
(757) 639-8947.
About Virginia Housing and Community Development Corporation (VHCDC):
VHCDC is a non-profit community
development
corporation serving disadvantaged, low-income
communities throughout the Commonwealth of
Virginia, and the region. VHCDC is a 501(c)3,
charitable Corporation, focused on innovative,
community-based initiatives that advance the success
and growth of disadvantaged micro and small
business enterprises, stimulate job creation, and
rebuild and revitalize distressed communities. For
more information, visit VHCDC online at: www.vhcdc.org
Contact: James R. Taylor, Director
VHCDC-MBE Capital Connect™
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website:www.vhcdc.org
Phone:
757-671-8333
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