By Ben Verde
The Brooklyn Chamber of Commerce launched an innovative funding program this week, which provides so-called “micro loans” to small businesses struggling to gain credit with larger banks, according to the business boaster’s chief.
“This grant will provide needed funding to entrepreneurs and small business owners, especially MWBE’s in underserved neighborhoods that may have had trouble in the past accessing loans to advance and grow their operations,” said Brooklyn Chamber President Randy Peers.
The program focus on helping woman and minority-owned enterprises to hire additional employees, rent retail space, or expand their existing storefronts through the distribution of loans averaging $12,000 each.
A substantial upfront loan can make a world of difference for a small business, and frees entrepreneurs from the hassle of working through large banks, according to Amber Lasciak, founder of REDU NYC, a furniture manufacturer who received a micro loan from the chamber.
“When you’re starting a business and you’re self-funded, you need all the help you can get,” Lasciak said.
The lack of funding is often what prevents …