Portland, OR — Last night, October 22, hundreds of small business owners and small business supporters braved the rain storms and came together at HATCH to celebrate small business and connect Main Street business owners with local lenders.
Money on a Mission, sponsored by Beneficial State Bank and HATCH, brought together the top local small business lenders: Albina Community Bank, Albina Opportunities Corporation, Beneficial State Bank, Community Sourced Capital, Craft3, HATCH, Kiva Zip, Mercy Corps Northwest, Micro Enterprise Services of Oregon, Oregon Association of Minority Entrepreneurs, & Portland Development Commission.
There’s no question that there is a large gap in access to capital for Main Street businesses, especially for women business owners and business owners of color. More and more, tradition forms of lending aren’t working for small businesses across Oregon and nationally. By bringing together local alternative lenders and expert panels on business development and growth, all in one room, Main Street business owners were able to think outside the box and find creative ways to fill their capital access needs.
The event kicked off with welcoming remarks (and trademark song) from Kat Taylor, co-founder and CEO of Beneficial State Bank and Amy Pearl, Founder of HATCH. Then there was plenty of time for business owners in the room to network with each other and all 11 of the local lenders on site. There were expert panels in small breakouts for budding entrepreneurs on accessing early stage funds and for established businesses working to grow to the next level.
While it was inspiring to have all of these lenders presenting their alternative forms of capital, we know that there’s still a gap for those businesses who need smaller amounts. That’s why The Main Street Alliance of Oregon and Hatch Innovation have come together to work on creating streamlined ways for Oregonians to directly invest in Oregon-owned and operated businesses. To find out more about what’s coming down the pipe line, contact oregon [at] mainstreetalliance.org.
The Main Street Alliance of Oregon held a briefing to update members on the proposal to create a state bank in Oregon. This briefing provided a brief summary of what the bill would do for small business owners as well as providing a short glimpse into the short 2012 session.