Loans and Financing
The African American Chamber of Commerce of Western Pa. provides referrals to firms and organizations that can assist in loan packaging and providing access to capital. In addition, the Chamber provides access to the Commonwealth’s Small Business First Community Economic Development CED Loan Fund. This fund is intended to provide loans for small businesses (with 100 or less employees) in areas that are eligible for Community Development Financial Institution coverage at a low interest rate. There is an application fee for this program.
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Mentor Protégé Program
The African American Chamber of Commerce of Western Pa has implemented a Mentor Protégé Program that will help its members move to the next level of engagement.
The goal of the Program is to strengthen African-American small businesses by helping them build capacity. The Program will provide them with “one on one” access to the CEO and or owner of a larger, established company. Participating members will have access to general business acumen and technical support with an agreed to business Mentor. This support is available to African-American owned firms who qualify and are committed to working towards the managed growth objectives of their marketing and business plans.
How do I participate?
You will need to complete and submit a Company Profile Information Form (see download below). Upon receipt of your form, Chamber staff will schedule a meeting with you to review the program and your business objectives. If you wish to proceed and your firm meets the basic requirements, an extensive Mentor search and selection process will be initiated. After a proposed Mentor is located, a meeting between the two of you will be arranged and facilitated by Chamber staff to ensure that there is a foundation for a good match.
You will be asked to develop a written Memorandum of Understanding between you and your Mentor. It should summarize in general terms what each of you plan to do in the relationship. A meeting schedule and jointly developed Action Plan to accomplish your capacity building objectives will follow. Finally, and most important, you will be asked to communicate your joint accomplishments and successes to the Chamber. This will support the continuity of the Mentor Protégé Program and help us to continue to assist other aspiring African American firms.
