New Fund Will Offer Up To $8M In Loans For Small, Minority Businesses
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MIAMI (CBSMiami) -- Neya Saucha has been doing flower events for nearly two decades, each design she says has a meaning.
"When you give flowers to somebody, you give a message," she said.
It's a message that's been difficult to get out without what she's needed to grow.
She brought on business partner Tracy Parrish about a year ago.
Early on Parrish saw the challenges that come with being two female, minority, small business owners.
"The opportunities, lack of opportunities and really knowing where to go, who to talk to," said Parrish.
They got the chance they'd been waiting for.
Entrepreneurs from around Broward County were at the Urban League for the launch of the Capital Access Fund which would have up to $8 million in loans slated for small and minority businesses in Florida.
"As we all know, it's very difficult to get capital. It's even more difficult if you're a minority business to get capital," said Governor Rick Scott who was a guest speaker at the event.
National Urban League President Marc Morial said the initiative does more than just create jobs.
"Minority businesses create economic opportunity and are the lifeblood of the economy. It's a robust community but it needs capital to grow," he said.
Loans will range from $10,000 to $150,000.
It's money Saucha and Parrish say would help them immediately add three full-time employees.
They also understand what it means for women like them, an African-American and a Hispanic, and their business to flourish.
"Just seeing that you can do it. We are very fortunate to be in a position that we can be an example for the next generation to come," said Parrish.