Individual Wealth Building

Based in Nashville, the Nashville Minority Business Center aims to foster the establishment and growth of minority-owned businesses in Tennessee.  To do so, the Center provides minority entrepreneurs with management and technical assistance, coordinates existing public and private resources to benefit minority business enterprises, and serves as a conduit for information and assistance to and about minority businesses.  It also manages the Nashville Minority Business Development Loan Fund (also known as “The One Fund”), which facilitates economic development by providing low-interest loans to small businesses in targeted census tracks.

Launched in 1999 by the Allston Brighton Community Development Corporation with just 4 members, The Midas Collaborative is now a statewide network of 30 organizations committed to advancing the financial security of low and moderate income Massachusetts residents.  To do so, the Collaborative runs a range of asset-building programs, which it complements with policy work focused on stabilizing income, reducing expenses for the working poor, ensuring consumer financial protections, and protecting assets.  In 2016, Midas’ matched savings program supported 1,536 low and moderate income people, who saved over $1.9 million and earned $2.6 million in matches.

Based in Fort Lauderdale, the Urban League of Broward County is a community-based organization working to help Black residents secure economic self-reliance, parity, power, and civil rights. Through its Entrepreneurship Center, the nonprofit supports business creation and growth in South Florida’s historically disenfranchised communities by offering a range of business development services and small loans. In 2016, the Center supported the creation of 44 new businesses and engaged 1,000 people in asset-building workshops. To increase wealth in low-income communities, the Urban League also runs an Individual Development Account program that provides a $2 match for every dollar saved for post-secondary education, business development, or homeownership.

NewMeAccelerator (NewMe) aims to help “out-of-the-box” entrepreneurs transform their ideas into successful businesses.  The program includes 1-week residential accelerators and web-based on-going support.  Since its launch in 2011, NewMe has helped minority entrepreneurs raise over $25 million in funding.

Based in Miami, the Florida State Minority Supplier Development Council strives to foster business development and expansion by connecting minority-owned businesses to corporations and government agencies.  The Council offers a range of capacity building services, including access to loans for a range of business needs. The Council also operates the Miami Minority Business Development Agency Business Center, which provides business development and technical assistance services to minority businesses in South Florida.  Since its establishment in 1975, the Council has helped certify 912 minority-owned businesses, resulting in sales of roughly $9 billion.

Aiming to push Atlanta to be a smart, equitable, and engaged city, the Center for Civic Innovation supports and invests in people and organizations working to make Atlanta’s public sector more effective, innovative, and participatory.  Through its Civic Innovation Fellowship, the Center provides Atlanta social entrepreneurs with business and leadership development programs, free workspace, and mentorship.  In partnership with the Food Well Alliance, the Center also has a Food Innovation Fellows program to support entrepreneurs, educators, and community organizers working to build healthier communities by connecting food growers to consumers.  Most recently, the nonprofit launched its Westside Innovation Lab in 2016 to identify and support community-driven and community-built ideas and interventions within Atlanta’s westside neighborhoods.

Founded in 2008, the Rocky Mountain MicroFinance Institute (RMMFI) fosters entrepreneurship as a way to create economic and social mobility.  To do so, RMMFI provides skill-building, mentorship, and small loans to low and moderate income entrepreneurs. Its Business Launch Boot Camp is credited with graduating entrepreneurs who currently own and operate 31 area businesses.