î
,f*.<
^ 7 - ■».' '
¿ r îs ê A c A
4 4 H
Volume XXV, Number 39
Committed to cultural diversity.
September 27, 1995
c
M IN O R IT Y
SECTION
/
/
k
v
(ortlanh © bseruer
3
Boosting Minority
Business Capital
The U.S. Small Business Administration has
announced a new Minority Pre-Qualification Loan
Program designed to increase the availability of
capital for minority business owners.
Under the pilot program, minority business
owners can qualify for a guaranteed loan with the
agency before approaching a lender, said Robert
Meredith, SBA Seattle District Director.
“Women and people of color will own more
than half o f all U S. small businesses by the year
2000, yet this vital market segment still has acute
problems securing the credit it needs. People of
color are under-represented in the economy, in
business ownership and in SBA’s portfolio. This is
an important issue for SBA to address to ensure the
nation’s economy remains supported by this grow­
ing sector o f entrepreneurs,” said Meredith.
In recent years, SBA loan guarantees to minor­
ity business owners have significantly increased. In
fiscal year 1994, loan guarantees to African Amer­
ican business owners increased by 74 percent over
the previous year.
Loans to Hispanic Americans increased by 60
percent, loans to Asian Americans by 54 percent,
and loans to Native Americans by 64 percent. While
these increases brought the total of minority loans to
19 percent o f total SBA guaranty approvals nation­
wide for fiscal year 1994, SBA’s goal is to make
more loans to this growing sector o f the small
business community.
The program provides a new gateway for mi­
nority business owners into the SBA loan guaranty
program. Under the pilot project, selected coordi­
nating organizations will act as intermediaries to
pre-screen and present credit applications from mi­
nority entrepreneurs to the SBA.
SBA will pre-qualify applicants based on a
financial evaluation o f the business, borrower’s
credit history, repayment ability and the feasibility
for the business’ success.
SBA can guarantee up to 90 percent on loans
not exceeding $155,000, and up to 85 percent on
larger loans with a maximum o f $250,000. If SBA
finds the borrower eligible and creditworthy, the
agency will
issue a pre-qualification letter indicating that '
the application appears to merit a loan guaranty.
Parker & Thomas Inc., the program intermedi­
ary for Washington state, will help borrowers iden
▼
Continued to page C2
07378593
e U S » IlIhlTTOl!'!
Chris Johnson (above) and his fiancee Javonnie Sheam are co-owners of It's My Kind Of Face, a
professional photography services store specializing in people of color. The outlet is one of the many
minority-owned businesses in the new Walnut Park Petail Center.
(Photo by Michael Leighton)
The Portland chapter o f the Black Dollar Days
Task Force has launched its advertising sales cam­
paign for the 1996 African American Business
Directory. Printed in Conjunction with DBBTF
chapters in Washington and Alaska, The Directory
represents the economic strength o f over 3,500
Black-owned businesses in three states.
The African American Business Directory is
an excellent, economic means of promoting your
businesses to a large segment of the market eager
to buy from and support Black businesses. In
addition, the Directory is distributed throughout
the region to numerous purchasing agents repre­
senting large corporations and companies and to
local, state and federal government agencies inter­
ested in expanding their purchasing base.
“The 1996 Directory will be our fourth year of
participation,” said O.B. Hill, board chair o f the
chapter. “Last year, over 10,000 copies were print­
ed and distributed throughout the Northwest, in­
cluding S eattle, Tacom a, A nchorage and
Fairbanks.” Hill proudly noted that o f the 3,500
Black-owned businesses in the book, more than
700 are based in Portland.
Sales representatives are already contacting
previous advertisers to renew their ads, as well as
seeking out new businesses for the Directory.
Cynthia Brooks, an insurance agent for MassMutual
Insurance company, can be reached at 221-1211,
and Jerome Tanner, an A. funeral director with
Cox Funeral Home, can be contacted at 281 -4891
for direct information on advertising.
Ads range in size from business card to full
page, and cost from $ 125 to $500. All advertisers are
considered members of the DBBTF and will also
receive a free listing in the Directory as part of their
membership. The sales reps will explain the other
categories available to be listed and receive a free
copy of the Directory. Non-African American-owned
businesses advertising in the Directory are consid­
ered associate members of the Task Force.
The BDDTF is an association dedicated to the
growth and development o f African American-
owned businesses. The goal is a cooperative busi­
ness environment, with businesses working to­
gether and supporting each others’ efforts. The
result will be a strong, aggressive and empowered
Black community.
Minority Firms And A Major Corporation To Be Honored
Commerce Secretary Ronald H.
Brown announced that fourteen mi­
nority businesses and one major cor­
poration will be presented awards
for their outstanding achievements
to the nation’s economic growth dur­
ing the 13th Annual National Minor­
ity Enterprise Development (MED)
Week Conference in Washington,
D.C., Sept. 24-27. MED Week was
established by Presidential procla­
mation in 1983 and is co-sponsored
by Commerce’s Minority Business
Development Agency (MBDA) and
the U.S. Samll Business Administra­
tion (SBA). The 1995 conference
will be held at the Sheration Wash­
ington Hotel, 2660 Woodley Rd. and
Connecticut Ave., N.W.
“Equal access to economic op­
portunities for minority-owned firms
is a major priority of the Clinton
A dm inistration,” said Secretary
Brown. MBDA programs assist in
the creation, expansion and promo­
tion o f minority businesses which
results in over $400 million in feder­
al tax revenues annually. These rev­
enues contribute significantly to the
country’s overall economic growth
and stability and generate increased
employment opportunities,” he add­
ed.
The Annual National MED
Week conference is a culmination of
numerous local and regional MED
Week observances throughout the
country where local minority entre­
preneurs gather to discuss the future
ofminority business in America. The
1995 MED Week conference theme,
“Minority Business: Building Amer­
ica’s Future Through Economic
Growth and Job Creation,” focuses
on the contributions o f minority-
owned businesses and their support­
ers to the country’s economic expan
sion in the 2 1 st century.
mation-intensive events occurring at
the federal level to assist minority-
owned businesses to overcome bar­
riers to successfully compete in the
global economy.”
MED Week ‘95 events began on
Sunday, Sept. 24 at 12:00 noon with
a leadership luncheon and sympo­
sium hosting state and local minority
M
-----
The National MED Week conference
provides an opportunity to not only
reflect on the outstanding
accomplishments of minority-owned
firms, but to discuss legislative,
national and government issues
impacting minority business
development.
Joan Parrott-Fonseca, director of MBDA
------------------------------------ -------- 11
Joan Parrott-Fonseca, director,
MBDA said, “The National MED
Week conference provides an op­
portunity to not only reflect on the
outstanding accomplishments of mi­
nority-owned firms, but to discuss
legislative, national and government
issues impacting minority business
development. The 1995 conference
promises to be one of the most infor-
business development officials, ad­
vocacy groups and corporate and
federal government executives to
discuss current issues affecting mi­
nority businesses. The leadership
symposium will be followed by three
days of activities designed to ac­
quaint minority-owned firms with the
necessary tools to win in today’s
competitive domestic and intema-
tional marketplace.
Secretary Brown will speak to
more than 1,000 minority entrepre­
neurs and government and corporate
officials at the MED Week Plenary
Session at 9:00 a.m. on Monday,
Sept. 25 and at the 12:00 noon lun­
cheon. Seminars begin at 10:00 a m.
and will continue through Wednes­
day, Sept 27. Topics covered include
financing, international trade, new
and emerging business opportuni­
ties, telecommunications, manufac­
turing technology, construction,
transportation, health, and more. The
day’s events conclude with a con­
gressional reception where members
o f Congress and their staff will host
the national award winners.
Events scheduled for Tuesday,
Sept. 26 include a corporate appreci­
ation breakfast where major corpo­
rations supporting the National MED
Week Conference will be honored.
An all-day business opportunity ex­
position will follow where minority-
owned firms will exhibit their goods
and services and discuss procure­
ment opportunities with representa­
tives from government agencies,
major corporations and other pri­
vate-sector organizations. A Wall
Street section at the exposition will
include representatives from finan­
cial institutions to discuss access to
capital opportunities. Events for the
day conclude with an Awards Ban
Continued to page C2
U.S. Department Of Commerce
Minority Business Dev. Agency
1995 National Minority Enterprise
Development Week Award Winners
The National Minority Entrepreneurs Of The Year:
• Annette and Victoria Quintana, Owners/Partner; Excel Pro­
fessional Services, Inc.; Greenwood Village, Colorado
• Monte Kewley, President /CEO; Galaxy Computer Servic­
es; St. Paul, Minnesota
*
The National Minority Service Firms Of The Year:
• Rudolph Lee, Sr., Chairman of the Board; Gateway
Laundromat, Inc.; St. Louis, Missouri
• Wayne HoSang, President; World Printing, Inc.; Miami,
Florida
The National Minority Manufacturer Of The Year:
Richard Nip, President; AW Printing; Houston, Texas
The National Minority Construction Firm Of The Year:
Pat C hee Miller, President; PC&M Construction Company, Inc.;
Gallup. New Mexico
The National Minority Retail Firm Of The Year:
George R. Charlton, Jr., President; Franchising Concepts of Okla­
homa; Tulsa, Oklahoma
The National Minority Business Advocate Of The Year:
Dennis Kondo, Partner; Kondo, Helgeson & Davis; Honolulu,
Hawaii