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The Florida Association of Black Chambers of Commerce to Host Event to Help Black-Owned Businesses Secure Funding

The Florida Association of Black Chambers of Commerce will be hosting an upcoming educational event, titled “Powering Florida’s Black-Owned Businesses Educational Programming: Effective Strategies for Black-Owned Businesses When Securing Capital and Accessing Banking.” This event, hosted by Florida Power & Light (FPL), kicks off Thursday, October 26, 2023, from 4:00 p.m. to 6:30 p.m. at the Pensacola Improv Event Center, located at 375 N. Pace Blvd., Pensacola, Florida 32505.

Open to the public, the event offers free admission with appetizers and refreshments. A lineup of distinguished speakers and panelists, all experts in the banking and financial services industry, will also share their insights and expertise with attendees.

The primary objective of the “Powering Florida’s Black-Owned Businesses Educational Programming” event is to empower and equip Black-owned businesses and entrepreneurs with practical training, tools, and valuable insights to enhance their success. A focus of the event will be the unique banking experiences faced by Black-owned businesses, with an emphasis on effective strategies for accessing banking services. Key topics of discussion will include finding the right banking partner, understanding necessary documentation, asking vital questions, building strong bank relationships, and securing minority grants to facilitate access to business funding.

Shaheewa Jarrett, President and Founder of the Florida Association of Black Chambers of Commerce, highlighted the broader mission, stating, “In addition to providing education, tools, tips, and resources about securing capital and accessing banking, we will also celebrate entrepreneurship and the positive and lasting impact Black-owned businesses have made in the region by bringing a diversity of ideas, cultures, and innovative products to the marketplace. Our ultimate goal is to provide access to tools and resources that will lead to Black-owned business growth, increase diversity in workforce development, and encourage employers to apply for funding through grants.”

One of the event’s highlights is the “Lender Speed Dating and Networking” workshop, offering attendees the opportunity to connect with key figures in the banking and financial services industry, ask questions, and learn about various services available.

The panel of experts at the event will cover a range of critical topics, including:

  1. Understanding the unique banking experiences Black-owned businesses face when securing capital and accessing bank financing.
  2. Finding and evaluating potential banking partners who provide trusted advice to ensure financial security and business confidence.
  3. Preparing for the business loan application by addressing personal and business credit scores, understanding debt-to-income ratio (DTI) and debt-service coverage ratio (DSCR), and other financial readiness steps.
  4. Strategies for preparation before applying for loans, including knowing your business needs, understanding bank requirements, and asking essential questions of your banker.
  5. Exploring funding options for Black-owned businesses, such as federal, state, and regional small-business grants, SBA business loans, minority business certifications, private equity firms, and much more.

To register for the event, interested individuals can click here.

This is a Hy-Lo News Staff Report.

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