Access to Low Cost Capital is Important for Any Business Enterprise. This is Especially True for Small Businesses.
BrandStory
SRQ DAILY WEDNESDAY PHILANTHROPY EDITION
WEDNESDAY FEB 1, 2023 |
After serving as Chairman of the Small Business Council for the Manatee Chamber of Commerce and mentoring small business owners, Sherod Halliburton CEO of Financial Access Federal Credit Union has seen the demand up close. “I have been approached by business owners frustrated with their inability to access business capital. Many of these businesses have been operating for less than three years, funded their businesses on personal credit, have operational challenges, and/or need to borrow less than $100,000,” states Halliburton. Financial Access, in partnership with most of the area’s technical assistance providers, is committed to filling the lending gap and serving as a bridge to traditional business lenders.
While Financial Access Federal Credit Union was founded as Tropicana Employees Federal Credit Union in 1958, it has grown and changed significantly while still celebrating its heritage. It now serves a larger field of membership and has expanded its geographic area. With $2 million in recent grants from the U.S. Treasury Department and a $1 million investment from Charter Communications, Financial Access can provide a more dynamic experience with upgraded technology, over 30,000 Fee-Free ATMs throughout the United States, and establishing a business lending program now available throughout the State of Florida. With improved technology, members and business owners can now easily conduct most of their business easily from the comfort of their homes and offices. Consumer loans are now offered for business purposes and business loans are available for up to $1 million.
Small businesses are the lifeblood of our community and Financial Access will help them build credit and financial capacity with its unique strategies while serving as a bridge to larger traditional business loans.
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