Access $300k for Small Business from The Enterprise Center at Pathstone
- Jazzy T
- Apr 24
- 2 min read
Updated: May 12
From microloan programs to business development courses and $5,000 pitch competitions, the Enterprise Center at Pathstone is making a significant impact. They support entrepreneurs, especially those historically excluded from funding conversations.
Recently, they received $300,000 from the SBA to help small business owners in Buffalo and Rochester, NY. And chances are, you qualify.
In Episode 3 of Elevating Enterprise Podcast, we spoke with Yahaira Zapata, Deputy Director of Economic Development at the Enterprise Center at Pathstone. We had what we call a funding masterclass. Yahaira has aided countless businesses—from side hustlers to seasoned entrepreneurs—in securing funding the right way. Her insights are essential for anyone looking to grow strategically.
Unlocking Your Entrepreneurial Dreams
You've crafted a business plan and envisioned your dream. Now, you’re ready to elevate your venture. However, you need capital to make it happen. You might be researching business loans, comparing rates, or scrolling through tempting “easy approval” offers in your email.
Pause.
Before clicking that loan agreement or using your business card, take a moment to reflect. Ask yourself:
“Is this loan really setting me up for long-term success?”
Here’s the reality: Not all funding is good funding.
🚫 The Real Risks Behind Quick Business Loans
Yahaira explained that many entrepreneurs, especially women and BIPOC business owners, often find themselves trapped in high-interest, predatory loans. This happens mainly because they are unsure of alternative funding options.
“Just because you can get approved online, doesn’t mean you should,” she warns.
Loans with outrageous interest rates of 30-40% or aggressive repayment terms can drain your business before it even takes off.
✅ 3 Things You Should Do Before Taking Out That Loan
Know your numbers. Clearly outline exactly how much you need and how you plan to use it. Lenders prefer a well-structured plan over guesswork.
Check your credit—but don’t panic. Even if your credit isn’t stellar, many Community Development Financial Institutions (CDFIs) like the Enterprise Center evaluate the whole picture, not just a credit score.
Get into the room early. Attend free training sessions, workshops, and informational meet-ups. Being prepared will enhance your chances of success. Building relationships early can position you favorably when funding opportunities arise.
🎧 Want the Full Funding Game Plan?
There's much more valuable information in this episode. Yahaira breaks down several vital topics related to funding:
What lenders are truly looking for (including red flags)
How to rebuild after credit challenges from the pandemic
What free programming can do to bolster your business growth
Why “relationship-based lending” is beneficial for MWBEs
🎙️ Listen now on Spotify | Apple Podcasts | iHeart Radio or via Desktop.
Funding Doesn’t Have to Be Complicated—or Costly
There are abundant free educational resources to assist your small business needs.
Loan Readiness Training Series: Info Session
Hosted by ROCEDC & The Enterprise Center at Pathstone
May 6, 2025, 5:30 PM - 7:30 PM
Join us for an in-person session that introduces a multi-week training series. This series focuses on preparing small businesses for financing. The session will cover a range of topics, timelines, and enrollment details.
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