Loans – BG Housing Authority creates board to assist minority entrepreneurs, awards first loans
BOWLING GREEN, Ky. (WBKO) – The Board of the Folks’s Alternative Program for Underserved Populations, POP-UP for brief, formally awarded its first set of loans to 2 minority entrepreneurs on Wednesday. Every loan was for $10,000.
Tieraney McFadden of Chopped By T and Kira Bolling with A Style of Sunshine obtained the loan. In accordance with these on the board, each offered enterprise plans and monetary statements for evaluate and labored a number of weeks with POP-UP small enterprise marketing consultant Daybreak Bolton.
“I’m just so super proud of the two women that received these checks. They were always so passionate about their business, but now they can tell you about their gross margins and their profit margins, etc. It’s so exciting to see them still passionate, but now passionate businesswomen,” Bolton stated.
Each Chopped by T and A Style of Sunshine may be discovered on Fb the place you may place an order. Chopped By T specialised in salads and different chilly meals, whereas Bolling’s A Style of Sunshine specialised in making cupcakes. They’re working to maneuver right into a bodily finding, which will likely be 305 Graham Avenue, by the beginning of the brand new 12 months.
“It’s been an emotional rollercoaster, to say the least, but it has been very rewarding,” McFadden stated.
“I can’t emphasize enough how much work and effort both Tieraney and Kira put in before going in front of the POP-UP Board,” Bolton stated.
POP-UP, a program beneath the Housing Authority of Bowling Inexperienced’s Stay the Dream Growth non-profit, was born out of Don Vitale’s want to “do something” after the dying of George Floyd. Vitale is the proprietor of Manchester Capital in Bowling Inexperienced.
“I researched our area and determined that there were no black commercial lenders in all of Warren County,” Vitale stated. He additionally serves on the POP-UP board now. “I reached out to Abraham Williams of the Housing Authority with an idea to help minority business people.”
Williams secured funding from a number of native banks and neighborhood companions, fashioned the Board, employed a small enterprise marketing consultant, and POP-UP started.
“The positive impact of POP-UP for people of underrepresented populations in Bowling Green is a need that is timely right now; it provides not only an opportunity but access to funds, which both can often be barriers of entry for minority entrepreneurship. I am proud to be a part of this type of meaningful work in our community ”POP-UP Board member, Aquesha Daniels, a lawyer, and professor within the WKU Administration Division, stated.
Daybreak Bolton stated this system has a shiny future as they proceed to offer mentoring, alternative, and monetary assets to minority and lower-income entrepreneurs.
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