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Franchise Finance Program Provides Loans to African Americans

St. Petersburg, Florida-The Tampa Bay Black Business Investment Corp. is participating in a new franchise finance program for African-American entrepreneurs. The program, funded by state appropriations, provides loans to qualified African Americans and is administered through the investment corporation and similar agencies. To qualify, a potential franchisee has to have good credit and money for equity in the venture, usually at least 10 percent of the start-up costs. Location and services provided by the franchise are also taken into consideration. -The Business Journal of Tampa Bay

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