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RIBBA offers forgivable microloan program for BIPOC-owned businesses

October 5, 2021/in News /by Amanda Roman

PROVIDENCE – A new, forgivable loan program will provide a combined $450,000 in microloans to Black, Indigenous and people of color-owned small businesses in the state, the Rhode Island Black Business Association announced Thursday. Read full article online

A Fresh Start: New Year, New Strategy

September 15, 2021/in News /by Amanda Roman

RIBBA offers forgivable microloan program for BIPOC-owned businesses

October 5, 2021/in News /by Amanda Roman

A Fresh Start: New Year, New Strategy

September 15, 2021/in News /by Amanda Roman

With the start of a new calendar year, often comes an impetus to begin again, to renew, and to reassess priorities and goals. Similarly, with a new season and often coinciding with the beginning of a new academic year, some of these same sentiments come to the surface. As students consider new ways to innovate and maximize learning, business owners can see these times as opportunities to do the same and more. As priorities, opportunities, and trends continue to develop and shift, it is imperative for businesses to consider how they can pioneer, pivot, and lead. It is particularly important for business owned by BIPOC (Black, Indigenous, and People of Color) entrepreneurs, to consider these opportunities to differentiate and advance their business trajectories to mitigate the challenges presented in our increasingly complex marketplace. Here are a few ways that businesses can accomplish this:

Participate in training to achieve and enhance new levels of skills and talents
Attend events and/or develop an outreach strategy to expand your professional network and customer base
Apply for funding opportunities to support new initiatives and provide continuity for existing programs
Consider increasing capacity and reach by pursuing opportunities for operational support (e.g. internships, exchanges, apprenticeships, consulting, assessment, and partnerships)
Research best practices and potential opportunities for growth and expansion within your field of interest

Resources:

https://ri-bba.org/small-business-programs-2/

https://www.unitedwayri.org/for-nonprofits/apply-for-grants/

http://odeo.ri.gov/offices/mbeco/

https://commerceri.com/

https://www.sba.gov/business-guide/grow-your-business/minority-owned-businesses

https://www.blackenterprise.com/9-marketing-tips-black-owned-small-businesses/

https://www.uschamber.com/co/run/business-financing/funding-options-black-owned-businesses

https://www.fundera.com/blog/minority-owned-business

https://blog.hubspot.com/sales/funding-black-owned-businesses

https://bootcamp.berkeley.edu/blog/small-business-toolkit-for-black-entrepreneurs/

About the author: Stephanie Mireku is RIBBA’s volunteer Content Writer and works with businesses, volunteers, and community members to highlight their and RIBBA’s work. Her passion for writing of all kinds, and background in English and Business Administration fueled her interest in combining these areas through the Content Writer role. Stephanie first became involved with RIBBA through the LEAP Mentoring program as a mentee in the 2021 cohort. She is enthusiastic about relationship building, mission centric creativity, social impact, and philanthropy, and puts this into action through various outlets including her work as an Assistant Director of Alumni Relations at Providence College. 

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