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Recent content by DMiller6868

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    Minority Owned Businesses (MBE) and Raising $$$

    Need to be in business for 1 year to apply for the MBE status
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    Minority Owned Businesses (MBE) and Raising $$$

    Appreciate the apology, even if you were just being facetious. I did come to an internet forum, because I thought this could be a potential scenario other business owners have encountered or potentially found a way to effectively "solve" my problem. I guess I was wrong and would be fine if the...
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    Minority Owned Businesses (MBE) and Raising $$$

    Got it! So this business has upfront cash flow requirements that we currently can't meet. It's a staffing business, so I have to pay the person I staff on a project before the vendor pays me. The best small business loan I could get was $70K, which isn't enough. I need to hire some recruiters...
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    Minority Owned Businesses (MBE) and Raising $$$

    The MBE benefit is VERY high up front for getting onto vendor lists. Once you're on the list, it becomes less important and diminishes over time as the company grows and the brand name becomes more established.
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    Minority Owned Businesses (MBE) and Raising $$$

    Okay, let me rephrase my statement then. I'm doing 50% of the work, he's doing 50% of the work. He's a minority, I'm not. We've already determined having an MBE status is very valuable and provides a "foot in the door" for many large corporations that require MBE's on their vendor list. If WE...
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    Minority Owned Businesses (MBE) and Raising $$$

    That's right, but was just wondering if there's some other creative ways from a distributions standpoint that I can still maintain my original 49% of the business. It seems it might make more sense if we could raise money and he still owned a "majority" between the two operating partners, but we...
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    Minority Owned Businesses (MBE) and Raising $$$

    This is an issue from a distributions standpoint
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    Minority Owned Businesses (MBE) and Raising $$$

    I was trying to search for some information and keep falling short...I've recently started a business with a partner whom is a minority (I am not). He has 51% of the business, I have 49%. We are trying to raise money and the requirements indicate, as the minority, he must maintain 51% of the...
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