Black entrepreneurs can ask for coaching after nonprofit banking teams
Aspiring black entrepreneurs can apply for help starting a new business after the North Shore Bank announced it would provide funding to 10 entrepreneurs to partner with The Lonely Entrepreneur, a nonprofit providing support to businesses.
Support includes group coaching with business experts, vendor reviews and discounts, and access to a North Shore Bank commercial banker for advice.
To be considered for the program, apply on the bank’s website. Applications will be accepted until October 15. Applicants must be at least 18 years old.
The North Shore Bank has decided to partner with the organization to support the Wisconsin small business community. He has already received applications from Kenosha and Oconomowoc, among others.
“Our job is to help small business owners understand the sky is the limit,” said Margaret Capper, senior vice president of commercial loans at North Shore Bank.
“What I would say to all entrepreneurs is that the most important thing is to partner up and develop relationships. The relationships you make really help you grow over time,” she said. .
Lonely Entrepreneur set a goal of providing support to 100,000 black entrepreneurs across the country and supported 18,000 businesses in September.
“What I’m excited to see is that the initiative is expanding statewide in Wisconsin. We’re excited to be digging into apps,” Capper said.
This is not the only program available for budding entrepreneurs. Other programs include the African American Chamber of Commerce Loan Fund.
“There is no one size fits all for business owners,” Capper said.
North Shore Bank is a Brookfield-based mutual savings bank with 45 branches in Wisconsin and Illinois.