NC Invest initiative provides funding for women, minority business owners

Riley, NC (WTVD) – The rally Ravi River Angela Salamanka is ready to open her fifth position. The Mala Pata Gateway will join other places at the shopping center when the construction wrapped once.

Salamanka is crossing his fingers that the doors will open by the end of April.

“(This one) Restaurant / Latin American restaurant in Mexican – our focus is a series -driven product,” he said.

Salamanka said that even after opening his first restaurant, two decades later, after reaching the capital, efforts are being made as a woman and a minority.

“I’m always clicking on all these boxes, okay, but my experience has always been a challenge,” he said. “I would say that it is probably difficult to get financing for loans.”

When it comes to access to the capital, women and minority -owned businesses face significant differences.

It has been a year since Vice President Kamla Harris has been awarded $ 32 million to resolve the issue.

The attention of NC Investment Initiative Auto To help reduce black or women’s business business.

Financial support is starting to reach the triangle.

Loan is well received now million 3 million And soon the money will begin to be handed over to those who have struggled to seek financing.

“Small businesses are generally denied loans, especially small dollar loans …, borrowed less than 100,000 loans,” said Lone Well’s co -founder Justin Said. “When you are able to provide small dollar loans, it reaches more minority and women’s leading business.”

National Women’s Business Council On average, women start their business with half of men like men.

Business Development Agency of the United States He said that while minorities have 29 % of all businesses, they are three times more risk of being rejected for loans than non -minority owners.

“Unfortunately, more than 40 % of loan applications are being denied in North Carolina because they are heading to traditional banks. This is twice as much as the national average. We see it as a really opportunity to change it.”

Venture Capital Group Wok Star CapitalWoC means women’s color, taking part in the initiative and just writing its first check in our state.

“That’s how we create jobs,” said Gail Jennings Brian, CEO of Wok Star Capital. “By being there and showing success, we hope other businessmen will attract.”

Jennings Bern said that despite concerns about the health of the economy, North Carolina is still a good generation for business.

“The market and the economy like the winner,” he said. “Everyone should only work on success, really good companies, really should create excellent technology.”

Salamaka is just doing that. She hopes that the move gives other women and ethnic minorities an opportunity to conclude dreams.

“We are really working with the spirit of a project we want to do,” he said. Funding is always very low, so we will raise any conditions we can achieve and it is often for the end of business. “