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Capital Growth Session I: Is Your Business Bankable?

Capital access and growth are long-standing pain points of minority-owned businesses across the nation and in the Greater New Orleans (GNO) region. Minority-owned businesses, consequentially, have been disproportionately affected during the current economic downturn. As such, Greater New Orleans, Inc. (GNO, Inc.) and the Urban League of Louisiana (ULLA) will co-host a series of virtual discussions to dissect opportunities for minority-owned small businesses to increase their ability to access capital and to create viable, sustainable ventures that create generational wealth. In order to build scalable, profitable, and sustainable businesses, minority entrepreneurs must be able to access the necessary funding to increase capacity, integrate technology into their operations, and to implement growth strategies that meet the changing needs of their existing and potential customers. However, based on data from the Brookings Institute, large banks approve around 60% of loans sought by white small-business owners, 50% of those sought by Hispanic or Latinx small-business owners, and just 29% of those sought by Black small-business owners. In addition, data from McKinsey & Co. shows that only 1% of Black business owners get a bank loan in their first year of business, compared with 7% of white business owners. During this session, representatives from […]

Getting Your House in Order, Session 3: Get Credit Ready

For small business owners, gaining access to funding to start and grow a business is essential. In order to prepare to access credit, owners must prepare and position themselves to meet the funding requirements of lenders. During this session, participants will learn how business credit differs from personal credit and how this is a key component of putting together a bankable business credit profile.  Participants will also learn basic business credit terminology, best practices in becoming bankable, and how to become credit compliant through the life of a loan. Course Facilitator and Financial Business Advisor Leontine "Candy" Guimont-Martin is the owner of Martin Business Solution, based in Slidell, Louisiana. Leontine is a Business Developer, Tax Strategist, CFO, Financial Coach and Credit Restoration Expert. There is no cost to attend this session, however registration is required. Register today! Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.

Getting Your House in Order, Session 2: Setting up Your Tax Accounts

Every business has tax liabilities. It is critical that small business owners understand which taxes are required, how often, and how to maintain compliance. This will avoid inaccurate payments or failing to file or pay the necessary taxes for your business. During this session, participants will learn which tax accounts to set up for various types of businesses, including payroll, sales, and excise taxes. Course Facilitator and Financial Business Advisor Leontine "Candy" Guimont-Martin is the owner of Martin Business Solution, based in Slidell, Louisiana. Leontine is a Business Developer, Tax Strategist, CFO, Financial Coach and Credit Restoration Expert. There is no cost to attend this session, however registration is required. Register today! Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.