N E W S   R E L E A S E 

Contact:   Terence Connell CPA  815-994-0870

                tcricon20@gmail.com

For immediate release

501(c)(3) Non-Profit Launches Funding Program To

Increase Financial Literacy And Access To Capital For Small Businesses

WASHINGTON, DC (November 16, 2023) – The grant-subsidized, Start-Up Business Funding Program was launched today by a 501(c)(3) non-profit organization in collaboration with a number of financial partners and is committed to narrowing the wealth gap by improving financial literacy, creating a lender compliant business structure, and assisting in meeting the underwriting criteria to qualify for a minimum of $250,000 to start or grow a business.

The Start-Up Business Funding Program assists entrepreneurs in reaching their potential through a simple four- to eight-week process to create a fundable business including:

·       FREE unique commercial address;

·       FREE formation of a business entity with the Secretary of State;

·       FREE assistance in obtaining an EIN and opening a business bank account;

·       FREE assistance with establishing a strong business credit profile with Dun & Bradstreet, Experian Business, etc.;

·       FREE assistance with creating creditable business credit scores by adding primary trade lines;

·       FREE assistance with creating financial statements, i.e., Balance Sheet and Income Statement/Profit & Loss;

·       $10,000 asset transfer (accounts receivables) to establish collateral for funding;

·       Optional assistance in liquidating the accounts receivable and access to the Opportunity Fund for daily $1,000 deposits to establish a strong business bank rating; and

·       FREE geographic access to the Chapman Fund for up to $250,000 to start a new business as well as numerous other funding sources including SBA-guaranteed loans up to $5M.

Leveraging award-winning curriculum developed by the FDIC and promoted by the United States Small Business Administration (SBA), participants have access to practical education topics and an assigned Financial Literacy Educator who will then assist participants in implementing what was learned to their business.  This practical and proven approach was developed with the input of SBA/SBDC Advisors, SCORE Mentors, top business college professors, and business bankers to properly prepare pre-launch and early-stage entrepreneurs for a successful capital raise.

Business Credit Literacy Initiative (BCLI), a 501(c)(3) non-profit was formed in 2016 by a group of educators who realized the crucial financial literacy principles being taught to high school students was not made available to adult entrepreneurs.  In 2023, BCLI was exclusively selected to administer the Start-Up Business Funding Program.  The innovative model provides a literal “formula for funding” whereby every participant can quickly and easily establish a fundable business.  For increased community outreach, BCLI is establishing a national network of Financial Literacy Educators who facilitate in-person and/or on-line financial literacy workshops addressing the “Ten Mistakes” that prevents most entrepreneurs from qualifying for funding and providing a conduit into the grant-subsidized Program.

FOR MORE INFORMATION

For more information, to collaborate, and/or to participate, visit our website today: