Thread: SBA Helps “Opening Doors” gets grant to make business microloans to “migrants”

by Stephen Frank



Do you know that Small Business Administration has a program to give local non profits money to give micro-loans. Is that the role of government? But that is what we do.
Did you know that the money is then washed so that illegal aliens can get some of the loans?
“Opening Doors Inc. got $300,000 through the Small Business Administration to pay for microloans for small businesses. Opening Doors serves immigrants, refugees and low-income residents.
Opening Doors Inc., which serves immigrants, refugees, and low-income residents in the Sacramento region, got $300,000 through the Small Business Administration to lend out in microloans.

The fund was supported by Wells Fargo and Comerica Bank .”
We all know that “migrants” is “government speak” for illegal aliens. The other issue is why is our government giving money to non citizens in the first place? This is why we have a Federal deficit of $1.3 trillion—just giving anybody tax dollars.

SBA Helps “Opening Doors” gets grant to make business microloans to “migrants”

Opening Doors gets grant to make business microloans

Sacramento Business Journal by Mark Anderson, 6/29/12
Opening Doors Inc. got $300,000 through the Small Business Administration to pay for microloans for small businesses. Opening Doors serves immigrants, refugees and low-income residents.
Opening Doors Inc., which serves immigrants, refugees, and low-income residents in the Sacramento region, got $300,000 through the Small Business Administration to lend out in microloans.
The fund was supported by Wells Fargo and Comerica Bank .
The Prosperity Project of Opening Doors has made microloans in the past. This new money will allow the group to make about 30 new loans in the first year. The loans tend to be between $5,000 and $20,000, but can go up to $50,000.
“There’s a huge credit gap out there,” said David Blicker, executive director of Opening Doors, in a statement. “A lot of people understand what a dire need there is for microloans in the Sacramento area. This is why Wells Fargo and Comerica stepped forward to make this opportunity happen for anyone with a valid, workable idea for achieving business success.”
Microloans can be used to launch or expand a small business. At interest rates of 8.5 percent or less, the loans are far cheaper than a credit card, and they build a credit track record, which credit cards do not.
Applicants must have a business plan that explains how the business will eventually repay the loan over five years.
Borrowers will get business assistance and training.Borrowers will get business assistance and training.
“The expansion of the Prosperity Project celebrates how America’s promise to newcomers and longtime residents alike is alive and well,” Donald Terry, Wells Fargo vice president of Community Development for Northern California, said in a statement. “We’re proud to be a part of rewarding hard work with a well-earned opportunity to create one’s own success.”
Additional support for increasing the Prosperity Project came from U.S. Bank , Citibank , Bank of the West and the United Way.

SBA Helps “Opening Doors” gets grant to make business microloans to “migrants”

Nice to know that the US government can borrow at $.40 on the dollar and put posterity into debt to make loans that the government should NOT be making in the first place. JMO