Really Alternative Funding For Small Business -- And They Are Business GRANTS!

Do you have sort of a quirky company? Are you a minority? Would $10,000 business grant get you up and running profitably? If you said Yes, head on over to 100 Urban Entrepreneurs and take a look around.

Minority entrepreneurs got a real jolt in their suspenders when 100 Urban Entrepreneurs took off.
Three brilliant and very generous entrepreneurs decided to start a company that would really help minority businesses. Lucas Riggins, a guy from a really rough area, and Magnus Greaves, "the entrepreneur who made things happen" got it going. They pulled in Dan Carriere, a serial entrepreneur who had just sold his business for $700 million. The trio set out to fund 100 minority businesses that would never have gotten funding any other way.

Few MBAs ever apply. But each of the selected entrepreneurs has a clear vision, and some life experience that qualifies them to run the business. According to their website:

We’re looking for young people with strong ideas, a great work ethic and an unwavering desire to succeed. 100 Urban Entrepreneurs is not Silicon Valley–style venture capital; gold-plated educational and professional qualifications are not prerequisites for involvement. Our focus is on minorities and those from underserved and disadvantaged communities, and we’ll look at anyone’s business plan. Need help writing a business plan? We’ve got a template for that as well.

The founders take the show on the road from time to time, with presentations in Atlanta, New York, New Orleans, and many other cities.

Along with funding, the winners get a crash course in business start up and on going support for marketing and promotion. Nearly all the entrepreneurs say that they value the mentoring even more than the money.

Not all of the sponsored businesses are strange. There's an organic clothing designer, bakeries, websites, Groupon for black businesses, shoe designers, and lots more. And you read right: the funded companies never pay back the $10,000 award. 100 Urban Entrepreneurs simply asks that they create a blog or provide information on their success so that others can learn too. Wow! Talk about paying it forward.

100 Urban Entrepreneurs is an idea long overdue, and we salute the founders, and all the great start up companies involved with them.