Nearly every entrepreneur requires some amount of capital to start or expand a business. MicroBiz Buffalo, Inc. (MBB) offers microbusinesses the opportunity to access three distinct forms of capital that works for the borrower, the Community and MBB. By coordinating and supervising risk management and technical assistance, MBB significantly reduces the risk to the entrepreneur while simultaneously putting the entrepreneur in a stronger position for success.
MicroBiz Buffalo, Inc. has three capital programs available to microbusinesses.
Individual Development Accounts (IDA) are matched savings accounts for the purchase of a particular asset. MicroBiz Buffalo, Inc. through the Belmont Shelter offers IDAs for small businesses. For more information about IDAs, generally, we suggest you visit the CFED (Corporation for Enterprise Development) website. For more information look to our about IDA page.
Robert Grimm Micro Equity Program - MicroBiz Buffalo, Inc. invests in City of Buffalo microbusinesses that have a gap in their capital plan. While it is a slower return on investment, a patient equity program allows a business to grow without being saddled with an additional debt.
Lending - MicroBiz Buffalo, Inc. has developed a revolving loan program, which harnesses and coordinates the community's existing - largely free -resources for the benefit of our borrowers. With mandatory financial education and assistance in developing a personal budget, coordinated services for the development of a business plan, and a requirement for ongoing technical assistance after the check is cut, MicroBiz Buffalo, Inc. strives to lift its borrowers to a position where success and sustainability are well within their grasps. If you have been turned down for a loan, cannot otherwise get a traditional bank loan, or your bank is asking for another lender to participate in a loan with them, contact us, we may be able to help you.
