The Program is created to:
- Offer one solution to the access to capital problem that has plagued African American business owners for decades;
- Strengthen the relationship between the AACC and partner bank to begin establishing trust between the African American business community and that partner bank;
- Document and track how Program participants have been able to use the financial tools, financial education and services at a partner bank to advance its business goals;
- Provide the AACC with a trusted banking partner to service AACC members on an ongoing basis.
Participant Eligibility Criteria
Be a current (or become a) member of the AACC and have such membership be in good standing;
At least two years of operation, which is evidenced by tax returns for the prior two years;
Revenues of more than $150,000;
Qualification as a Minority Business Enterprise by presenting evidence that the business is at least 51% owned and/or controlled by an African American;
Summary of prior attempts to secure loans and their existing banking relationships (if any), and if none, what has prevented the applicant from establishing a banking relationship;
Summary of how joining this Program will help the AACC member achieve its business goals.