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Wednesday, September 28, 2011

Funding Sources

This week I looked at the web sites of a couple companies that serve as sources of funding for small businesses.
The first of which is a company called the Opportunity Finance Network.  The aim of the company is to offer affordable and responsible financial products to low-income, low-wealth and disadvantaged people and businesses.  The products that they offer help capital flow to opportunity markets outside of the economic mainstream.
The OFN requires qualified companies to fill out a detailed application along with  a host of supporting documents ranging from a mission statement to balance sheets to resumes of management.  
The site also serves a knowledge resource offering its members a wealth of information on the industry.
The other site that I looked into was The Association for Enterprise Opportunity.  The AEO markets itself as a company for micro-enterprise in America.  They help underserved, small business entrepreneurs contribute to their communities through business ownership.
The criteria for this program is not quite as narrow at the OFN.  However, their aim of helping entrepreneurs and improving low income communities is similar in nature.  They also help entrepreneurs find development organizations to assist in their business endeavors. 

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