NMBC Launches Micro-Loan Fund
The National Minority Business Council Inc. launched a micro-loan fund to provide short-term credit to qualified minority and women-owned businesses. The fund provides loans of from $1,500 to $20,000 to finance orders from large, creditworthy customers. Loans will be made only to members in good standing of the NMBC. Nonmembers may apply, but must join the NMBC before the loan amount is disbursed. The Bank of New York provided the initial financing for the fund, with Northfork Bank as a supporting bank, so that the Council can use its existing line of credit with Northfork to make loans through the fund. Qualification requirements are posted on the NMBC Web site at www.nmbc.org. Further information and applications can be obtained by calling the NMBC at 212-997-4753.
Underground Railroad Center Gets Help from Hewlett-Packard
The National Underground Railroad Freedom Center received a $1 million donation from Hewlett-Packard, bringing the center�s fund-raising total to $93 million of its $110 million goal. The center, which is scheduled to open in 2004 in Cincinnati, Ohio, will house two theaters, a hall for multicultural dialogue, four interactive history galleries and an education and research center. HP's gift will go toward a computing infrastructure for the center�s next generation of museum exhibits and digital programming technologies. �Technology will be pivotal to our success at the Freedom Center," said Dr. Spencer Crew, the center's executive director and CEO.