Funding A Dream

Owning your own business starts with a dream. An idea is born and the entrepreneur takes that idea and brings it to fruition.  In a perfect world, they have the financing needed for start up costs to get their idea off the ground and start selling their product.  In the real world, most companies have to search and seek out financing for their dream.  But where do you go to fund a dream? The websites below offer different types of financing for the many different types of individuals and businesses.

The Opportunity Finance Network is a financial network that provides financing to low-income, low-wealth, and other disadvantaged people and communities. 

http://www.opportunityfinance.net/

The Association for Enterprise Opportunity focuses on the development of microbusinesses.  The members of AEO include microlenders, small business development organizations, non-profit lending organizations and educational institutions dedicated to microenterprise.  AEO’s affiliation with microlenders can help a microbusiness obtain the funding they need to get started.

http://www.microenterpriseworks.org/

The Coalition of Community Development Financial Institutions provides funding to distressed communities.  The funding obtained is to help develop activities in low wealth communities in both rural and non rural areas across the U.S..

http://www.cdfi.org/

The Corporation for Enterprise Development operates at the “local, state and federal levels to create economic opportunity that alleviates poverty.”  The CFED is working to provide asset building for children.  The ABC initiatives are savings, college success, financial education, partnerships, products and policy.  CFED is forming partnerships with larger corporations to provide funding for these programs.

http://cfed.org/

The Community Development Venture Capital Alliance provides equity capital to businesses in underinvested markets.  CDVCA also “promotes the field by combining advocacy, education, communications and best-practice dissemination through conferences and workshops.”

http://www.cdvca.org/

“The National Community Investment Fund is a non-profit, private equity trust that invests in banks, thrifts and credit unions that generate both financial and social returns.”  The institutions funded are designed to promote community development with the majority of its focus on low to moderate-income people or communities.

http://www.ncif.org/

The National Federation Of Community Development Credit Unions was developed to serve low income and minority communities.  Their mission is to provide financial, technical and human resources to help Community Development Credit Unions.

http://www.natfed.org/i4a/pages/index.cfm?pageid=1

The U.S. Economic Development Administration provides federal funding.  There are many grant opportunities that a business can apply for.  The EDA also provides information regarding leadership and many other investment program opportunities.

http://www.eda.gov/

The First Nations Development Institute is a funding resource for Native Americans. They provide financial and investor education, business and asset development and direct financial grants for Native Americans.

http://www.firstnations.org/default2.asp?id=69

Oweesta is a subsidiary of First Nations Development Institute.  Their main focus is to provide “tools and knowledge that lead to sustainable and systematic economic development for Native Americans.

http://www.oweesta.org/

After reviewing these sites, I learned that there is funding available for many different types of people such as minorities, Native Americans and more.  The funding can be found through investors, grants, trusts and many other resources.   If you are looking to fund your dream, there are resources available to you.  Obtaining the funding will require a well thought out business plan.