The NYNJMSDC has partnered with several financial service organizations to provide our Council-Certified Suppliers with additional financing options for business growth. Please take a moment to review the multiple loan offerings and account receivable funding options that can help your business continue to grow.
BUSINESS CONSORTIUM FUNDThe Business Consortium Fund (“BCF”) is a non-profit 501( C ) 3 business development organization affiliated with the National Minority Supplier Development Council (“NMSDC”). The BCF is the only non-profit organization in the country focused exclusively on financing the growth and development of minority business enterprises that are suppliers to corporate America (“MBEs”). The BCF provides financing, business advisory services and educational programs to promote the growth in size (revenues) and operational capacity of MBEs. BCF funding is usually provided during the critical early growth stage of a MBE’s business development often providing the funding allowing the MBE to perform under their supplier contracts. The BCF will continuously improve and expand our programs, financing products and services in order to meet the needs of today’s MBEs. BCF financing products and business support services are available to companies: (1) certified as minority-owned or minority-controlled by the NMSDC or one of its affiliated Regional Councils and (2) acting as a vendor or supplier to a national or local NMSDC corporate member, (3) At least 3 years in operation.
Capstone provides client-specific solutions through Factoring Services, Purchase Order (PO) Financing and Domestic and International Trade Financing combining client assets and resources with an advanced logistics platform.
Headquartered in New York City, Capstone Business Funding, LLC specializes in Single Invoice Factoring ("Spot Factoring") for firms in need of immediate cash. Spot Factoring provides flexible, no contract invoice selling in exchange for working capital. Capstone is a private finance company focused on accelerating client cash flow.
Some of the industries they serve include:
- Construction Trades
- Service Companies
FUNDATION ™Fundation™, is one of the nation’s leading online direct lenders for business loans. They can provide financing for your business which enables you to receive a customized financing solution for your business.
Goldman Sachs 10,000 Small BusinessesThe Council has partnered with the Goldman Sachs 10,000 Small Businesses initiative. The program provides best in class business management education, business support services and the opportunity to access to capital to assist you in taking your business to the next level.
MBE CAPITAL PARTNERS
At MBE Capital Partners we provide receivables funding services for domestic and export receivables at lower than market rates; if you sell to other business on credit terms of 60 days or less you should talk to us about how we could work with your business. We also provide purchase order financing paired to our receivables facilities.
Prestige Capital CorporationPrestige Capital Corporation, established in 1985, is a nationwide factoring firm that serves small and mid-size companies, which do not yet qualify for traditional bank financing, do not have the time to undergo the bank's underwriting requirements, or have a need to supplement an equity raise.
TRUFUND FINANCIAL SERVICES, INC. – NEW YORKTruFund provides financing and business services to small businesses that cannot access affordable financing through traditional sources such as banks. TruFund offers these financing and business services across a wide range of industries and business types. TruFund’s financing products support small businesses in underserved, low-to-moderate income communities, as well as businesses owned by underrepresented or disadvantaged groups such as women and minorities. With loans typically ranging from $50k to $250k, TruFund’s small business borrowers have used loans in many ways to help sustain and expand their businesses. Just a few examples include applying the funding for contract mobilization, working capital, inventory and equipment, business expansion, or improving leased or owned space.
For more detailed information on TruFund’s small business financing options, please click on that link below or visit www.trufund.org.