NFG prioritizes organizations and programs that are focused on the success of BIPOC owned and operated small businesses. Broadly, NFG supports programs that help start a business, grow a business, and finance a business.
Access to capital has long been a challenge for BIPOC and low-wealth communities to access. Approval rates for loans for BIPOC owned businesses remain significantly lower than their white counterparts. Programs like the Federal SBA program, which was designed to support the small business infrastructure continues to approve loans at a much smaller rate. NFG supports programs and organizations that are offering unique and accessible financial resources with a healthy mix of loans, grants, and other funding structures that make it attainable for a small business. Small and microbusiness owners face the same challenges as their larger business peers. NFG supports programs that offer advice and support in legal matters, sales and marketing, and technology.
Access to commercial real estate at affordable rates.
We recognize that a significant aspect of building a business is access to space that allows you to sell your services or products, meet with community members in a space that is professional, and operate outside of home and personal space. NFG supports opportunities that help facilitate creative solutions to access space that meets the needs of the business profile. While we recognize that accessing commercial space may mean leasing, we strongly advocate for ownership strategies and mechanisms that help business owners achieve this goal in either the short-term or long-term.
Movement building and campaigns that include an anti-gentrification strategy. We know that advocacy for the small business community and a collective voice are essential to ensure that policies, programs, and procedures at the city, county, state, and federal level ensure the success and viability of this important ecosystem. For far too long, the voice of the small business owner has not been reflected in decisions that have a direct impact on the success and sustainability of a small business.