ALTERNATIVE FUNDING SERVICES

           

             It is important that people especially entrepreneurs know that there is financial assistance available to them to help start or improve their businesses.  There are lots of companies that may offer assistance but from researching various websites I have found two that may help the most to small businesses in this time of an unstable economy, and they are the following:  The Opportunity Finance Network, and the Association for Enterprise Opportunity. 

            The first organization is Opportunity Finance Network (OFN), and it is a national network of community development financial private institutions that offer affordable lending to small businesses–it is great in that they help people open businesses, and create jobs in impoverished towns.  As well, OFN is in collaboration with Starbucks to help create jobs across the country, “Get America back to work.”  Thus, this network has originated more than $23.2 billion in financing in urban, rural, and native communities through 2005 at 1.4 % interest.  Also, OFN has financed 60,261 businesses.  They have a strong mission statement that includes the following:  financing, public policy, knowledge sharing, strategic counseling, and strategic communications.  Therefore, it is wonderful that they included those topics within their mission statement to address the importance and what they want to accomplice- this keeps the network focused, dedicated, and on track of what the network entails. 

             

                  The second is the Association for EnterpriseOpportunity, (AEO), and they create economic opportunities for underserved entrepreneurs.  Therefore, AEO is a national membership organization and the voice of microenterprise development in the United States and for two decades they have helped more that two million entrepreneurs.  Also, they help support entrepreneurs by contributing to them by business ownership.  AEO mission states the following:  In that they support development strong and effective U.S. microenterprise initiatives to assist underserved entrepreneurs in starting, stabilizing, and expanding businesses. 

            Therefore, both these organization/associations help small businesses in financial need and to create business and jobs.  This is vital information in hard economic times when we need small business to create jobs, and with the necessary financing there is opportunity for businesses to thrive. 

References:

Mission, core, value of opportunity finance network. (2011). Retrieved from http://www.opportunityfinance.net/about/default.aspx?id=158

Association for enterprise opportunity. (2011). Retrieved from http://www.microenterpriseworks.org/

Alternative Funding Sources