SAN FRANCISCO, May 19, 2023 (Newswire.com) – StrongTerm, a new financial technology company, has officially launched its platform aimed at helping small businesses secure affordable, responsible, long-term financing. The platform, which can be found at www.strongterm.com, combines advanced AI with human expertise to connect small business owners with streamlined “score and go” SBA loans, as well as other custom affordable financing options that meet their unique needs.
“Our goal is to empower small businesses with the financing they need to grow and succeed while making the process as simple as possible,” said Connor Perkey, Founder of StrongTerm. “By combining AI with human expertise, we are able to provide small business owners with personalized support and guidance throughout the loan application process. Our ‘score and go’ feature allows small businesses to receive a decision on their loan application in as fast as 24-48 hours, enabling them to focus on what they do best.”
StrongTerm offers a client-friendly experience, making it easy for small business owners to submit loan applications and receive fast, accurate responses. In addition to its “score and go” working capital SBA loans of up to $150,000 for eligible businesses, StrongTerm also offers SBA loans of up to $350,000 through its marketplace in addition to a range of low-cost non-SBA options.
“Our marketplace allows small businesses to access a wide range of low-cost financing options from FDIC-insured banking partners, all in one place,” said Perkey. “We believe that providing small businesses with access to affordable, responsible financing is critical to their success, and we are committed to making this process as easy and simple as possible.”
StrongTerm’s platform leverages advanced AI algorithms to connect small business owners with financing options that best fit their unique needs. The company’s experienced lending experts provide personalized support and guidance throughout the loan application process, helping small businesses navigate the complexities of financing.
For more information on StrongTerm and its innovative financing solutions for small businesses, visit the website at www.strongterm.com/apply.
Source: StrongTerm, LLC
KEVIN HART’S GRAN CORAMINO® TEQUILA WILL SUPPORT 50 BLACK AND LATINX SMALL BUSINESS OWNERS ACROSS THE U.S. WITH $10,000 GRANTS
JERSEY CITY, N.J. /PRNewswire/ — Gran Coramino® Tequila, an ultra-premium tequila founded by entrepreneur Kevin Hart and 11th-generation tequila maker, Juan Domingo Beckmann, has launched applications for The Coramino Fund, the brand’s giveback program, with U.S. impact partner Local Initiatives Support Corporation (LISC). The Coramino Fund supports Black and Latinx entrepreneurs across the U.S. with $10,000 grants as well as learning opportunities.
Gran Coramino Tequila donates $1 for every bottle sold to support Black and Latinx entrepreneurs and small business owners across the U.S. and in Mexico. Applications for eligible U.S. businesses are open now at lisc.org/grancoramino and close Dec. 5, 2023. The next round of entrepreneurship programming in Jalisco, Mexico will launch in early 2024.
In its inaugural year, The Coramino Fund received over 20,000 applicants from every state and supported 50 entrepreneurs with $10,000 grants to fuel the growth of their small businesses – three of these entrepreneurs are pictured above. Martin Boyd Jr., owner and founder of Redemption Body Wellness noted, “For me as a business owner, the hardest thing to secure is new staff members while also expanding programs for the community, especially for youth and elders. This grant gives me the opportunity to do just that.”
Kevin Hart, co-founder of Gran Coramino Tequila, noted, “The Coramino Fund is not just about grants – it’s about building a legacy of economic empowerment and generational success. The impact our first year of collaboration with LISC had on Black and Latinx small business owners was inspiring to see. With this new round of support, we’re continuing to help break the barriers that have held talented entrepreneurs back from achieving their dreams.”
“The Coramino Fund is not merely a financial boost for small businesses; it’s a transformative force for aspiring entrepreneurs,” said Michael T. Pugh, LISC CEO. “We’re eager to continue leveling the playing field for under-resourced Black and Latinx small business owners. Together with Gran Coramino Tequila, we are supporting sustainable businesses, quality jobs and economic growth that will enrich lives and uplift communities across the nation.”
Gran Coramino Tequila and LISC encourage all eligible entrepreneurs and small business owners from the U.S. to apply for the grant program online at www.lisc.org/grancoramino now through Dec. 5, 2023. Grant recipients will be announced in early 2024.
Gran Coramino was established in 2022 by comedian and entrepreneur Kevin Hart and 11th-generation tequila producer Juan Domingo Beckmann. Co-created alongside Global Brand Equities and Proximo Spirits, the venture seamlessly blends Hart’s passion for tequila with Beckmann’s expertise in spirits making. The Coramino Fund — the brand’s give-back program now in its second year — was developed to reflect the pair’s dedication to giving back to their communities.
LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. LISC works with residents and partners to close systemic gaps in health, wealth, and opportunity and advance racial equity so that people and places can thrive. Since its founding in 1979, LISC has invested $29.7 billion to create more than 489,000 affordable homes and apartments, develop 81.4 million square feet of retail, community, and educational space, and help tens of thousands of people find employment and improve their finances.
About GRAN CORAMINO™ TEQUILA
Gran Coramino is a tequila brand founded by two world-class masters of their crafts, Juan Domingo Beckmann and Kevin Hart. Launching first with Gran Coramino Reposado Cristalino, the tequila is matured in Eastern European oak barrels, finished in California Cabernet wine casks, and slow-filtered for smooth flavor and crystal-clear color. The brand expanded with an Añejo expression on September 14, 2022, offering a silky smooth tequila taste with a long and sweet cognac-laced finish. Gran Coramino will donate $1 from every bottle sold to support diverse entrepreneurs and small businesses from communities in Tequila, Mexico, and the United States. Gran Coramino® Tequila. 40% Alc./Vol. (80 proof). Trademarks owned by Gran Coramino LLC. ©2023 Gran Coramino, Jersey City, NJ. Please drink responsibly.
SOURCE Gran Coramino
Feed the Soul Foundation: Empowering Culinary Businesses with Financial Support
Feed the Soul Foundation provides financial support to marginalized culinary businesses, empowering their growth and success in a challenging industry.
Small culinary businesses have faced significant challenges and hardships due to the pandemic, including burnout, financial constraints, and a sense of isolation. In response to these struggles, the Feed the Soul Foundation, a national non-profit organization, has been providing financial relief and solutions to marginalized culinary businesses. Through their Restaurant Business Development Grant Program, the foundation has awarded $850,000 in support to 30 culinary business owners, empowering them to overcome obstacles and thrive in a competitive industry.
Financial and Professional Support:
With the support of the Grubhub Community Fund and Stella Artois, Feed the Soul Foundation’s 2023 grant program has provided each of the selected restaurant owners with $25,000. The program aims to address the challenges faced by these businesses, such as slim profit margins, labor shortages, inflation, and rising minimum wages. The six-month cohort program offers a range of supports, including financial literacy training, marketing and advertising guidance, and one-on-one business development consultations with industry experts. By equipping these entrepreneurs with essential knowledge and resources, the foundation aims to foster their growth and success.
The Role of Feed the Soul Foundation:
Under the leadership of Executive Director Juana Collins, a seasoned nonprofit executive, Feed the Soul Foundation is dedicated to nourishing and empowering individuals through culinary education and entrepreneurship. With a commitment to making a profound difference in lives and legacies, the foundation offers critical support to culinary businesses, acting as a vital resource for their sustainability and growth.
Creating a Supportive Network:
The importance of establishing a robust support network becomes evident when comparing the success rates of businesses that have received Feed the Soul Foundation’s support with the national average. Over 98% of the businesses that received financial and business development assistance from the foundation are still operating and have experienced growth within their operations. This success demonstrates the significance of providing both financial backing and expert guidance to culinary businesses, fostering a community of support and collaboration.
Milestones and Achievements:
Since its inception in 2020, Feed the Soul Foundation has achieved significant milestones in supporting marginalized culinary businesses. These include:
- Investing $1,078,000 in financial and business development support to 59 culinary businesses across the nation.
- Providing $46,000 in emergency funds through the Emergency Relief Fund to assist culinary businesses affected by unforeseen damages and natural disasters.
- Establishing an internship program and distributing $59,000 in student stipends while providing workforce training to 15 minority college students studying small business marketing, marketing research, and public relations.
Recognizing Culinary Excellence:
The foundation’s 2023 grant program has recognized and supported a diverse range of culinary businesses. The awarded cohort includes establishments such as 7th & Grove, Andes Café, Bueno Dias Café & La Bodega at The Met, Haire’s Gulf Shrimp, Pepitos Paletas, The Urban Oyster, and many more. These businesses represent the resilience and creativity of the culinary community and highlight the foundation’s commitment to fostering growth and sustainability within the industry.
Feed the Soul Foundation will continue to provide support and resources to marginalized culinary businesses. In October, they will open applications for the 2024 Restaurant Business Development Grant Program, offering entrepreneurs another chance to receive financial assistance and expert guidance. Furthermore, the foundation has scheduled a Global Culinary Conference in Houston, Texas, in January 2024, aiming to foster growth and collaboration within the culinary community.
The Feed the Soul Foundation’s Restaurant Business Development Grant Program has been instrumental in providing financial relief and professional support to marginalized culinary businesses. By equipping entrepreneurs with the necessary resources and guidance, the foundation empowers them to overcome challenges and thrive in a competitive industry. Through their continued efforts, Feed the Soul Foundation is making a lasting impact on the lives and legacies of culinary entrepreneurs, fostering sustainable growth within the culinary community.
About Feed the Soul Foundation
Feed the Soul Foundation was established in 2020 to aid marginalized entrepreneurs in the culinary industry with business development resources and support to foster sustainable business growth. The Restaurant Business Development Fund supports marginalized business owners with business development scholarships and emergency funding.
SOURCE Feed the Soul Foundation
Black Business Boom Celebrates 5 Years of Creating Financially Savvy and Bankable Minority Businesses in Nashville and Beyond
NASHVILLE, Tenn. /PRNewswire/ — Black Business Boom, founded by Danielle McGee as the Groupon for Black owned businesses, marks a significant milestone as it celebrates its 5-year anniversary. The organization has evolved into a dynamic force for the empowerment of Black-owned businesses, not only in Nashville but throughout Tennessee and beyond. The cornerstones of Black Business Boom are the 501(c)3 Boomin University, launched in 2020, which provides free business training to underserved minority business owners; Boomin Marketing, designed to equip participants with the latest communication strategies and tools from social media mastery to content creation wizardry; and Boomin to the Bank, a revolving loan fund that offers microloans of up to $5000 to small business owners, helping them to build bankable businesses by providing financial literacy training, helping participants establish business bank accounts and bookkeeping systems. Notably, Boomin to the Bank has partnered with Kiva Microloans, in order to deploy $10 million in capital to Black-owned businesses who graduate the Boomin to the Bank program by 2030. The Kiva partnership will launch with funding loans for 30 program graduates.
“I wanted to create a space for Black entrepreneurs to gain the financial and business education they needed to create thriving, sustainable businesses, in Nashville,” says McGee. “We are excited to expand and create impact nationwide.”
Black Business Boom was recently awarded funds from the TN Placemakers Entrepreneurship Fund, to support Boomin University cohorts in East, Middle, and West Tennessee, preparing them to source funds from banks and other granting institutions. Truist Bank also supports Black Business Boom with a grant that supplements key programming focused on training and technical assistance, to Black owned businesses, interested in securing corporate and government contracting opportunities.
About Black Business Boom:
Black Business Boom is a dynamic organization founded by Danielle McGee, originally as the Nashville Black Business Directory. Celebrating its 5-year anniversary, Black Business Boom is dedicated to empowering Black entrepreneurs through education, marketing programs, and financial support. The organization envisions a thriving ecosystem that provides essential elements for the success of Black-owned businesses in Tennessee and beyond.
Connect with Black Business Boom:
SOURCE Black Business Boom
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