At every turn, we are committed to educating and supporting you, as needed.
As with any small or growing business, the funding of minority businesses cannot be done without the help of private business and the access to capital. We offer both. Many of our partners have been in your shoes a minority business owner, and have the experience necessary to provide useful advice and feedback. In working with Capstone, you’ll find that we have the capability to provide you with the advice and capital you need – two crucial aspects to your business’s success.
In a recent report assessing New York City’s efforts to award contracts to businesses owned by minorities and women, New York City agencies earned a “D” grade. The report for the fiscal year that ended June 30 included the following statements:
- 9% of the city’s $17.8 billion procurement budget went to minority and women-owned businesses.
- This is an increase from 2.7% in fiscal 2013, but a decrease from 5% in fiscal 2012.
It is apparent that New York City is failing to meet the appropriate quotas when it comes to contracting with minority and women-owned firms. Capstone Capital Group, LLC is looking to change these statistics. We offer several funding options and provide working capital to small businesses and minority-owned businesses looking for the proper funding to help their businesses grow.
It takes more than a minority or disadvantaged designation from a city, state, or federal agency to achieve your business growth and success. But with these designations in hand, you are closer to reaching your goals, and we can give you the extra help you need to grab them. Through our unique solutions, we can help you to overcome those disadvantages.
Once you are a client of Capstone, we extend our years of experience and support system to you. We provide assistance, as needed, with bid support letters, non-legal contract review and can introduce you to providers of services such as accounting, estimating, legal, engineering, payroll services, etc. while you focus on the working operations of your business. With Capstone working alongside you, you can be rid of the distraction of overcoming barriers due to being considered a “minority,” and can do what you do best.
Minority Lending Program Success Story
A woman-owned construction firm and their clients were suffering from the negative effects of Hurricane Sandy which, in turn, began to put a strain on their cash flow.
Because of the disaster, many clients of the business found themselves in a difficult position to pay what was due, but business had to continue. The construction firm needed to eliminate spikes in monthly cash flow due to their client’s payments being delayed after invoicing. As the business progressed, they began having larger payrolls and vendor payments to pay out without knowing exactly when the collection would take place to cover their costs.