Get the scoop on how Black businesses are closing the racial wealth gap and the resources they need to get small business loans. Subscribe to GoDaddy on YouTube: http://bit.ly/GoDaddy-Subscribe 0:20 Why you should support Black-owned businesses 0:46 The impact of Black entrepreneurs on the economy 1:17 Closing the racial wealth gap 1:30 Connecting with a Community Development Financial Institution Small businesses are the heart of America that keeps our economy alive — and Black-owned businesses are vital to its growth. That’s why Hyacinth Vassell, VP of Innovation Engineering at the Association for Enterprise Opportunity, believes it’s crucial to invest in Black businesses if we want to invest in our nation’s financial wellbeing for the long run. As wealth builders and job creators, Black-owned small businesses are the hope our nation needs to close the generational wealth gap. They do this by hiring within their communities and building thriving businesses for years to come. Despite the challenges and lack of resources that Black business owners have, Hyacinth recommends every small business owner to connect with a Community Development Financial Institution (CDFI) for financial assistance and technical guidance to respond to government loans and small business grants like the PPP. She reminds Black entrepreneurs that seeking help and resources is not a weakness, but an asset to building a healthy future for the small but mighty business economy. References: The Black-white wealth gap is estimated to cost the economy $1 trillion per year by 2028. https://www.mckinsey.com/industries/public-and-social-sector/our-insights/building-supportive-ecosystems-for-black-owned-us-businesses If Black businesses increased their average revenue to the level of non-Black businesses, it would increase total revenue in Black businesses by approximately $676 billion. https://www.brookings.edu/essay/to-expand-the-economy-invest-in-black-businesses/#:~:text=According%20to%20the%202012%20SBO,%25%20of%20white%2Downed%20businesses.&text=Furthermore%2C%20the%20underrepresentation%20of%20Black,of%20dollars%20in%20unrealized%20revenues If the average employees per Black business increased to the level of non-Black businesses it would create approximately 1.6 million jobs. https://www.brookings.edu/essay/to-expand-the-economy-invest-in-black-businesses/#:~:text=According%20to%20the%202012%20SBO,%25%20of%20white%2Downed%20businesses.&text=Furthermore%2C%20the%20underrepresentation%20of%20Black,of%20dollars%20in%20unrealized%20revenues The median net worth for Black business owners is about 12x that of Black non-business owners. https://www.mckinsey.com/about-us/new-at-mckinsey-blog/what-will-it-take-to-build-more-black-owned-businesses Learn more about Association for Enterprise Opportunity: https://www.aeoworks.org https://www.facebook.com/aeo https://twitter.com/aeoworks Resources for Small Businesses: Venture Forward study: https://www.godaddy.com/ventureforward Up-to-date info on COVID-19: https://www.cdc.gov COVID-19 resources and grant information: https://www.covid19businesscenter.com The information contained in this video is provided for informational purposes only and should not be construed as an endorsement or advice from GoDaddy on any subject matter. #BlackOwnedBusinesses #GoDaddy #SmallBusinessNewsandTrends

Before any funder approves your application, we are looking at a lot more than just your credit score. Here are the 8 things we actually evaluate before funding your business 👇 💰 Monthly Revenue — Consistent monthly revenue is the foundation of every funding decision. Most funders require a minimum of $50,000 per month. ⏱️ Time in Business — The longer you have been operating the more confidence a funder has in your ability to perform. Most alternative funders require a minimum of 1 year. 🏦 Bank Statements — Your last 3 to 6 months of bank statements tell the full story of your business cash flow and financial health. 📊 Deposit Frequency — How often money comes into your account matters. Funders look for 5 or more deposits per month as a sign of active revenue generation. 📈 Credit Score — While not the only factor a credit score of 500 or above is typically the baseline for most alternative funders. 💵 Average Daily Balance — A strong consistent daily balance signals stability and the ability to handle repayment without strain. 🔄 Cash Flow Consistency — Funders want to see steady predictable cash flow. Irregular deposits and large unexplained gaps raise red flags. ✅ No Prior Defaults — A clean record with no prior defaults on business funding agreements is essential for most funders including Westwood Funding. The good news? At Westwood Funding we look at the full picture of your business not just a checklist. If your business generates consistent revenue, we want to work with you. $1 Billion+ Funded. 15,000+ Businesses Served. A+ BBB Rated. ⭐ Want to know if you qualify? Apply today. 📩 underwriting@westwoodfunding.com 🌐 https://zurl.co/84Y7Q 📲 @westwoodfunding No delays. No complexity. Just results. #WestwoodFunding #BusinessFunding #HowToGetFunded #WorkingCapital #GrowthCapital #RevenueBasedFinancing #RBF #AlternativeFinance #SmallBusinessFunding #UnderwritingTips #BusinessTips #GetFunded #LenderTips #FundYourGrowth

Small business owners across Florida now have a new opportunity to get financial relief after last year's devastating hurricane season. The IRC and Chase Disaster Relief Fund is offering grants to independently-owned restaurants, bars, cafés, and food trucks still recovering from Hurricanes Helen and Milton. The grant can be used to cover lost inventory, property damage, and other disaster-related costs. Business owners have until October 3rd to apply. With nearly 40% of small businesses never reopening after natural disasters, according to FEMA, this funding could be a critical lifeline. 📍 Live from Clearwater Beach, Jenna Bass reports on how the community is rebuilding — and how business owners can apply now.

Most business owners believe they need: • Perfect credit • Two years of tax returns • Massive revenue To access serious business capital. That’s not how approvals actually work. We’ve seen applicants with nearly identical credit profiles receive drastically different approval amounts — sometimes 5x more. The difference? Positioning. Timing. Structure. Application sequencing. If you’ve been denied — or only approved for small limits — it’s usually not a “credit problem.” It’s a strategy problem. In this video, we break down what lenders are actually evaluating and why preparation matters more than perfection. If you’re serious about structuring capital the right way: 👉 Book a free Funding Strategy Session We’ll walk you through what lenders are seeing — and what might be holding you back. (Approvals and terms depend on lender review and profile qualifications.)

This industry is evolving faster than ever. What used to take years now happens in months. 💼 More competition is entering the market. 💰 Capital is getting cheaper. 📊 Merchants are gaining access to better funding options. But change also brings regulation. Funders and brokers who ignore the new rules will quickly fall behind. The opportunities in this industry are still massive—but only for the people paying attention. Are you preparing for what’s coming next, or reacting when it’s too late? _______ Watch next: https://youtu.be/yMhVMFuJzlc https://youtu.be/WBibujtK11g https://youtu.be/lJThrKJ2O7I This video: https://youtube.com/shorts/HGK6tH2DJ_Y _______ Banks focus on credit scores. We focus on real businesses. This channel breaks down how entrepreneurs access capital using cash flow—not rigid bank rules. 📞 Call us for a consultation: (877) 502-5003 🌐 Learn more: fundkite.com #fundkite #unbankable #Funding #finance #Entrepreneur