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The Alliance at Work

With strong talent and determination, but weak capital and collateral, Fatou N’Diaye required assistance to relocate and expand her Senegalese restaurant to the Philadelphia University City area. She contacted the Greater Philadelphia Minority Business Strategic Alliance (the Alliance), which in turn, collaborated with three of its members, and the process began…

First Fatou obtained technical assistance with a business plan, financial projections and a loan package from the Philadelphia Minority Business Development Center (PMBDC). The loan package was then submitted to The Reinvestment Fund (TRF). The loan was approved by TRF, but a final hurdle remained: the loan would require additional collateral.

With all business and personal assets exhausted, Fatou and the Alliance turned to a third partner, the Small Business Administration (SBA). The SBA provided an 85% loan guarantee and the "deal" was completed. A loan in the low, six figures closed in 2002, and Fatou was able to realize her dream. Now opened and thriving at its new location, Fatou & Fama Restaurant is just one example of how the Philadelphia Minority Business Strategic Alliance works to help minority entrepreneurs achieve their goals.

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