February is Black History Month, which honors the triumphs and struggles of African Americans throughout U.S. history.
Black-owned businesses are a vital part of the economic growth of America, but minority-owned businesses may face unique challenges, especially when it comes to financing. Black-owned business owners must navigate a historical funding gap, receiving less funding, less often, and at a greater cost.
SmartBiz® is proud to be part of the solution. Our team helps Black business owners obtain the capital they need, supporting the continued growth and success of their businesses for years to come.
Business owner success stories
Meet some of the business owners we’ve worked with who have faced challenges and achieved success despite facing inequalities. SmartBiz is dedicated to helping these resilient entrepreneurs thrive.
- In 2017, the SmartBiz team had the pleasure of working with Andrew Magnus, the founder of BTC Envelopes and Printing, LLC®. Magnus secured an SBA loan from a SmartBiz bank partner to restructure high interest debt, upgrade his computer system, and hire a new employee. Learn how he took advantage of minority programs, grants, and classes to weather the pandemic storm and come out on top.
- Meet the five recipients of the 2022 SmartBiz Grant program - a doctor, a restaurateur, an educator, a commercial cleaning professional, and an entertainment entrepreneur. The recipients each received a $5,000 award and were chosen from a pool of eligible minority, women, or veteran-owned U.S. businesses.
- Small business owner Andrew Todd is the founder of TriFytt Sports®, a full service sports complex. The business aims to not only improve children athletically, but also to give them the tools they’ll need to grow into a strong-willed and well-rounded citizen. Here’s how he’s successfully expanding.