Entrepreneurial Development Program
Center for Entrepreneurship and Service
The Banneker Foundation is establishing a world-class Center for Entrepreneurship and Service focusing on supporting entrepreneurs specifically in the construction industry or related areas located in the DC, MD, VA metropolitan area. This center’s focus is on supporting entrepreneurs by expanding their technical, human capital and financial capacities while investing in the communities in which these entrepreneurs work.
Annual Minority Small Business Construction Conference
The Minority Small Business Construction Conference was initially started in 2014 by a collective of several minority-owned construction companies in the region, who wanted to provide a space for small businesses to come together to obtain information about critical resources such as obtaining lines of credit or bonding programs, contracting opportunities with the local and federal government, how to apply for local and national certifications, and networking with each other to build partnerships and expand their capacities. In 2017 The Banneker Foundation hosted the fourth conference which was sponsored in part by the Collective and will become an annual Banneker Foundation hosted event.
According to the U.S. Small Business Administration, September 2016 Issue Brief, minority owned firms make up 29.3% of all businesses while minorities make up 37.2% of the population. African American owned firms only make up 9.5% of all businesses but make up only 1.3% share of all sales. While data demonstrate increases in minority business ownership, sales and employment disparities persist and continue to widen.
Through activities like this conference, the Banneker Foundation hopes to continue to provide minority-owned businesses with critical resources to support their success in the construction industry.
Small Business Small Loan Program
The Banneker Foundation is currently in its Small Business Small Loan pilot program.
In furtherance of our mission to support Entrepreneurial Development we have incorporated the Small Business Small Loans program. The Small Loans program is for small businesses who are involved in the Banneker Foundation Entrepreneurial Program looking to obtain loans in the range of $5,000 to $30,000. The purpose of the loans is to help empower small business owners.
The Banneker Foundation Small Business Small Loans program does not just offer favorable loan terms to business owners unable to access capital from traditional sources. By participating in the Entrepreneurial program the small businesses also receive trainings and workshops, resources, advice and other business-related assistance.
The Small Loans Program offers low interest rate loans and works with Muslim Business owners to offer financing options that comply with the Islamic anti-usury laws that prohibit the paying or charging of interest.
Loans can be used for real estate, vehicles, supply and inventory, equipment, lease improvements, operations and working capital, and construction project loans (revolving loans). The program encourages socially responsible investments and prohibits loan uses for investments in alcohol, tobacco, marijuana, firearms, weapons, ammunition, casinos, the adult entertainment industry, and speculative business investments.
Emergency Assistance Program
The Emergency Assistance program provides short-term financial assistance to individuals and families in the metropolitan DC, MD and VA area who are experiencing immediate crisis. The types of emergency assistance offered include support for housing (rental/mortgage), funeral assistance, utilitites, food, medical, disaster (fire, accident, etc.). Assistance is designed for low income individuals and families who are faced with an unexpected crisis of not being able to meet their basic needs.
Job Training Program
Community-Based Organization Support Program
We support schools and educational programs working to improve the education of minority children through innovative and exemplary pre-k to 12 programs.
The Foundation supports other community based organizations such as religious institutions, and non-profits working to provide opportunities, resources and services to economically disenfranchised communities.
To Learn more about these programs please submit an inquiry form.