We are a non-profit organization specializing in valuations for minority and/or women owned businesses as well as Veteran or military owned companies.

I.R.C. § 501(c)(3) describes organizations organized and operated exclusively for charitable, scientific, or educational purposes. Treas. Reg. § 1.501(c)(3)-1(c)(1) states that an organization will be regarded as “operated exclusively” for one or more exempt purposes only if it engages primarily in activities which accomplish one or more of the exempt purposes specified in I.R.C. § 501(c)(3). An organization will not be so regarded if more than an insubstantial part of its activities is not in furtherance of an exempt purpose.  Section 1.501(c)(3)-1(d)(2) of the Income Tax Regulations defines the term ‘charitable’ as including the promotion of social welfare by organizations designed to relieve the poor or distressed or the underprivileged.   The term “charitable” is generally recognized as an undertaking to relieve poverty, promote social welfare, combat community deterioration and / or lessen the burden of government.  The class of beneficiaries our organization intends to help are selected on an objective determination of need and may not have access or the financial means to seek relief from emergency hardships of business failure or closure that has placed these individuals in a desperate financial situation.   In other cases, these individuals have not had access to federal loan programs designed to keep them in business and to retain their employees.   For those that have received loans from the federal government, our program includes providing educational resources and assistance to insure they are able to repay the loans.

On March 13, 2020, President Trump declared the Coronavirus Disease 2019 (COVID-19) pandemic is of sufficient severity and magnitude to warrant an emergency determination under section 501(b) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5121-5207 (the “Stafford Act”). All 50 states, the District of Columbia, and 4 territories have been approved for major disaster declarations to assist with additional needs identified under the nationwide emergency declaration for COVID-19.  The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress with overwhelming, bipartisan support and signed into law by President Trump on March 27th, 2020.  The CARES Act is a $2 trillion economic relief package designed to provide economic assistance and relief to business owners affected by the Covid-19 pandemic. According to the U.S. Department of the Treasury, “the Paycheck Protection Program (PPP) established by the CARES Act, is implemented by the Small Business Administration with support from the Department of the Treasury.  This program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits.  Funds can also be used to pay interest on mortgages, rent, and utilities. The Paycheck Protection Program (PPP) prioritizes millions of Americans employed by small businesses by authorizing up to $659 billion toward job retention and certain other expenses.”  Additionally, the Small Business Administration in response to the Coronavirus (COVID-19) pandemic, launched the Economic Injury Disaster Loan (EIDL) grant and loan program for small business owners in all U.S. states, Washington D.C.  The advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. 

Many business owners are obtaining desperately needed financing through the PPP and EIDL programs.  However, they may not be using the money efficiently or worse yet, may be using it in ways that does not position them to make timely repayments back to the lender, or in the case of the EIDL loan program, directly to the Small Business Administration.

The free educational resources, analysis and business valuations our organization will provide to individuals who cannot afford or do not have access to qualified appraisers will give them guidance on where they can focus to use capital appropriately and be able to realize the ability to repay their loan.   Alternatively, the underserved, specifically minorities, veterans and women that want to improve economic conditions in areas of high rates of poverty will benefit from no cost consultations when considering starting or purchasing a business or applying for a government guaranteed loan.

It is a widely reported fact that minority business owners have been shut out from receiving PPP or EIDL funds.   According to the Senior Policy Council for the Center for Responsible Lending, a nonprofit think tank composed of researchers and lending experts that examines loan programs and combats abusive lending practices, “roughly 95% of Black-owned businesses, 91% of Latino-owned businesses, 91% of Native Hawaiian or Pacific Islander-owned businesses, and 75% of Asian-owned businesses stand close to no chance of receiving a PPP loan through a mainstream bank or credit union.”   Our organization intends to aid minorities in our community that have difficulty navigating the obstacles necessary to secure a federal loan successfully.