September 29, 2010
ì$) M inority & Small Business Week
Capital to Help
Entrepreneurs
c o n t i n u e d f r o m page 23
ing prom ising applicants isjust
one p art o f a larg er p ro cess in
micro-finance.
“T he m ajority o f sm all busi­
n esses need o n e-o n -o n e co u n ­
seling and hand-holding for the
first few y ea rs,” he says.
M ad d o x read ily adm its that
he him self failed in his first busi­
ness because he w asn ’t fam iliar
w ith the industry.
In an effo rt to p rev en t sm all
businesses from faltering, orga­
n izations like O A M E do m ore
than ju s t p ro v id e loans, says
Guerra.
H e explains that O A M E pro­
vides core services: one-to-one
technical assistance, marketing,
netw orking m eetings, access to
cap ital, and b u sin ess in c u b a­
tion.
Minorities especially can ben­
efit from m icro-finance in Port­
land, sin ce it “ can help those
w h o h av e n o t alw ay s h ad a c ­
cess to cap ital,” says M addox.
T hough any type o f loan can
be risk y for b oth b o rro w er and
investor, m icro lo an s are sp e­
cial, b ecau se th eir su ccess can
m ean self-sufficiency for b u d ­
d in g e n t r e p r e n e u r s f ro m
Portland ’ s m inority com m uni­
ties.
m arginalized groups in the U.S.
In a state like O reg o n , w h ere
sm a ll b u sin e sse s d riv e th e
econom y, the financial help can
p ro v e to be m o re useful than
ever.
“ S om etim es you d o n ’t have
the w ays and m e an s... to cover
the im m ediate expense o f either
inven to ry o r su p p lies o r p a y ­
roll,” says Jorge G uerra, p resi­
dent o fth e O regon A ssociation
o fM in o rity Entrepreneurs.
W ith trad itio n al loans less
accessib le b ecau se o f the re ­
cession, aspiring business ow n­
ers have had to look elsew here
for startup capital.
F o rtu n ately , m icro -len d ers
w ho are n o n -p ro fits are doing
fine, says V alerie Plum m er, ex­
ecu tiv e d irec to r o f th e O reg o n
M icroenterprise N etw o rk
B ut screen in g ap p lican ts is
still essen tial, ac co rd in g to
S anfo rd M ad d o x , ex ecu tiv e
d irec to r o f M icro E n terp rise
S ervices o f O regon.
“ Is it a viable b u sin ess plan?
D oes this person have m anage­
m ent expertise? The people who
are really sincere alread y have
som e piece o f equipm ent to get
“ I d o n ’t w an t to say th a t it’s
started. T h ey c a n ’t ju s t ex p ect
th e sy stem to go fo r th e m ,” he the answ er to all o f our financial
says.
p roblem s,” says M addox, “but
M addox asserts that pinpoint­ it is o n e.”
Come Bid With Us
*
Portland Public School District welcomes
interest and participation by MBE, WBE
and ESB companies in our contracts for
goods and services. Throughout the
year, we purchase a variety of items
including office equipment,
school
supplies, paper products, maintenance
services, construction projects and more.
Please contact our office for additional
information on bidding opportunities.
Dave Fajer
Director of Procurement and Distribution
Portland Public Schools
501 North Dixon
Portland OR 97227
(503) 916-3576
(503) 916-3109 fax
dfaier@pps.k12.or.us
We encourage and appreciate your
interest in doing business
with Portland Public Schools.
Just as we strive to build a workforce that
reflects our community, TriMet promotes
diversity in our business relationships, including
our selection of suppliers, contractors and
business partners. This helps ensure that
all qualified firms and individuals have an
opportunity to succeed, and that TriMet receives
the highest quality products and services.
For more inform ation about TriMet contracting
opportunities, visit ebidexchange.com/trimet
or contact Kimberly Ruffin at 503-962-2213.
T R I© M E T
See where it takes you.
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