Foundation makes it easier for entrepreneurial aspirations to be fulfilled.
If you have a burning desire to open a business but are short on cash, credit history or business training, Silva Mirzoian can help.
The Beverly Hills, California, entrepreneur has created a nonprofit corporation, Passions and Dreams Funding Inc., to help women in California achieve their entrepreneurial dreams. "I was a business owner for 18 years, yet found it difficult to get financing to expand my business," says Mirzoian, who was turned down by banks even though she had business experience and owned property. "If I, as a businessperson with all these qualifications, was having a hard time, I realized how difficult it could be for a divorced woman supporting children, who may not have worked for a long time, [to get a business loan]."
That's why Mirzoian started Passions and Dreams, a certified SBA intermediary that's eligible to handle the agency's women and minority prequalification and LowDoc programs, as well as 7(a) loans of up to $1 million. In addition, Passion and Dreams is in the process of creating a fund that will make available loans of $5,000 to $25,000 at 9 percent interest with no payments for the first six months to entrepreneurs of both sexes who don't qualify for SBA financing.
People applying for these loans must have or obtain business training, and have their business monitored monthly for the duration of the loan.
For additional information, contact Passions and Dreams at (310)?73-1019 or http://www.passionsndreams.org
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