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The Power of Funding: How Visa and Lendistry Are Supporting Small Businesses
In an effort to boost the economic landscape for small businesses across the country, especially in Los Angeles, Lendistry has partnered with Visa to distribute a substantial $100 million in funding through the Visa & Main initiative. This program is set to provide financial relief and growth opportunities to small business owners who are eager to expand as the city prepares for major sporting events like the FIFA World Cup and the 2028 Olympic Games.
Navigating Challenges with Innovative Solutions
As small businesses continue to struggle with the remnants of challenges such as inflation, supply-chain disruptions, and the lingering impact of wildfires, the need for accessible funding is critical. The loans offered through this program are designed for businesses that have been operational for at least two years, with amounts ranging from $25,000 to $350,000. These funds can be utilized to increase working capital, refinance existing debts, expand operations, and purchase essential supplies.
Empowering Entrepreneurs with Knowledge and Support
Access to responsible and non-predatory capital is crucial for the survival of many local businesses. According to Lendistry CEO, Everett Sands, having the right financial support is akin to “oxygen” for business continuity and growth. As demand surges during significant events, expenses are likely to surge as well, creating a delicate balance that can be difficult for entrepreneurs to manage without sufficient funding.
Strategic Financial Planning for Future Success
Lendistry's surge in loan applications since the launch of the Visa & Main program is a clear indicator of the pressing needs of small business owners. The platform aims to expand its service offerings to include additional grants and financial support, equipping business owners with tools to enhance their operational efficiency. Moreover, the initiative includes technology support for smoother digital payments, which is increasingly vital as businesses adapt to mobile and online service models.
Gathering Resources for Growth
Furthermore, Visa & Main is bridging the gap between finance and community needs by providing marketing assistance to small businesses. This includes resources for effective signage, digital guides, and workshops aimed at customer acquisition. Creating awareness and visibility is paramount as entrepreneurs prepare for the influx of visitors during pivotal events.
The Broader Impact: Local Communities Thrive
As the economy slowly recovers, the partnership between Visa and Lendistry stands out as a beacon of hope and opportunity for many entrepreneurs. The initiative not only supports financial growth but reinforces the notion that strong communities are built on the foundation of robust local businesses. This approach paves the way for healthier economic relationships that can withstand future challenges.
Conclusion: Seizing the Opportunity to Grow
With their eyes set on the future, small business owners must embrace the resources available to them. For those in Los Angeles and beyond looking to take advantage of the upcoming major events and the increased consumer traffic, securing funding through programs like Visa & Main could provide the much-needed leverage. As more details regarding grants and additional support are unveiled, the message is clear: growth is not just a possibility, but an impending reality for small businesses willing to adapt and seize the moment.
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