Creating Opportunity for Minority Business Owners

We are thrilled to announce that our incredible borrowers Hyo Jin Kim and Hye Jeong Cho were featured in an AMEX Open Forum article titled, “What It Takes to Find Funding as a Minority Business Owner.” The article outlined three minority entrepreneurs and their experience funding their business ventures.

 

The following is an excerpt outlining Kim and Cho’s financing journey:

 

Korean immigrant Hyo Jin Kim and his wife Hye Jeong Cho found a lender willing to fund their equipment for their meat market startup in Jonesboro, Georgia. But when it came time to close the loan, the lender required them to acknowledge the terms in English, rather than let their daughter translate.

 

Instead, they found a financier who was able to work around the language barrier. Kim and Cho secured a lease for $20,000 worth of equipment through third-party leasing company LeaseQ, who matched them with Financial Pacific Leasing (FinPac). FinPac hired a translator to help the couple understand every part of the financing process.

 

We hope Kim and Cho’s incredible story of determination and dedication will help other minority business owners find the financing they need to open the business of their dreams.

 

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To read the full article, please visit: https://www.americanexpress.com/us/small-business/openforum/articles/what-it-takes-to-find-funding-as-a-minority-business-owner/

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