The IL Bridge Fund, Cincinnati, Ohio Develops New Funding and Financial Mentoring Programs for Minority Business Entrepreneurs Seeking Funding Alternatives

Many American workers today are choosing self employment as an option to waiting for new job creation. Access to the funding needed to start a business is almost always an issue, especially with those owned by African, Hispanic (Latino), or Asian Americans, who are more likely to lack the financial resources necessary to achieve adequate capitalization. End Quote

(1888PressRelease) March 29, 2011 - Given the economic choices available to many American workers today, many are choosing self employment as a way to control their future. For Ethnic minorities, starting their own businesses is a natural alternative to bumping up against the glass ceiling and fighting workplace discrimination.

According to the 2002 Census Survey of Business Owners, the number of Minority Owned Businesses grew 31% between 2002 and 1997 compared to 13% growth for non-minority businesses. In 1982, Ethnic minorities owned fewer than 7% of all companies in the U.S. By 2002, this percentage had grown to 18%. The statistics might not be quite as positive today because of one major roadblock--funding.

Access to the funding needed to start a business is almost always an issue, especially with those owned by African, Hispanic (Latino), or Asian Americans, who are more likely to lack the financial resources necessary to achieve adequate capitalization. A 2000 report published by the U.S. Minority Business Development Agency concludes that the growth of Minority Business Enterprises (MBE or MWBE) has contributed to the strong growth of the U.S. economy, but that growth cannot continue without removing capital formation constraints.

To assist the minority entrepreneur, The IL Bridge Fund has lending programs for those who desire to become business owners. The program offers bridge funding and financial mentoring resources to assist potential entrepreneurs to begin or expand a business, while helping create a sound foundation to build toward a successful future.

"This is why the 'Bridge Lending Programs" were developed," says Angelo, "to supply 'short-term' financing for those businesses who need more timely funding and validation of their business model."

Bridge Funding" from The IL Bridge Fund, has funded millions of dollars in transactions for Emerging and Existing Companies, Franchises and Real Estate Investors. We offer "Bridge Funding" to all types of business and real estate opportunities, from franchises to property redevelopment.

Angelo Sferrazza created the IL Bridge Fund in 2009. The IL Bridge Fund, an Ohio Limited Liability Company, is the funding source for Mid-market Emerging and Existing Companies and Real Estate Investors that have valuable marketable assets that can be used to secure an initial bridge loan (short-term). This approach and overall goal of The Bridge Funding Program is to provide the time needed for companies to secure more permanent funding from traditional lenders (Banks), or investment organizations. This is based on allowing companies the time to validate their businesses. The IL Bridge Fund has funded millions of dollars in transactions to date.

http://www.theilbridgefund.com/

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