CBE launches minority-owned small business lending program

Posted at 10:48 AM, May 15, 2020
and last updated 2020-05-15 11:50:47-04

MCLENNAN COUNTY, TX — The Center of Business Excellence (CBE) under the leadership of the Cen-Tex African American Chamber of Commerce has launched the Cen-Tex Minority Business Equity Fund.

This fund is the first locally funded financial lending program designed exclusively for minority owned small businesses located in McLennan County.

The Equity Fund will provide grants and microloans up to $2500 to assist minority owned small business owners with immediate relief of economic hardships caused by personal emergencies, natural disasters, or national pandemic events.

CBE says the relief is designed to offset the potential risk of reduced operations, labor force, or revenue that could severely impact minority entrepreneurship and community welfare.

The CBE is conducting an inaugural capital campaign for the fund called The Kick-Start Club.

The campaign is open to any donor seeking to invest in the success of minority owned small businesses.

CBE says their goal is to raise $100,000 by May 30th for the small businesses.

"Donations of $10,000 or more will received an exclusive gift in appreciation of their generosity," the statement said.

All contributions are tax deductible.