We are asking both the federal and state governments to set aside a certain amount of funding each year for a competitive needs based grant structure to assist a number of Low-Income and otherwise Marginalized Entrepreneurs to start businesses and create desperately needed jobs in their communities. Loans are fine for people with perfect work histories, or from privileged backgrounds. Most Low-Income and Marginalized Entrepreneurs lack the work, histories,credit histories, or business connections to get loans, private funders, and the attention needed to get a business started. What they do have are excellent business ideas, and the energy and motivation to work hard to make them successful. All they need is the start-up funding.
Why is this important?
For Low-Income and Marginalized Entrepreneurs, getting financing via business loans is next to impossible. Few have the personal resources like savings to work from, and even fewer have the business connections to find private funding. What they DO HAVE are good business ideas, and lots of energy to make them work. If the Small Business Administration gave Government Grants to the poorest and most isolated of Entrepreneurs, we could CREATE JOBS WHERE THEY ARE MOST NEEDED. Grants would "even the playing field," and get jobs to the communities most in need.
