The Otto Bremer Trust is collaborating with Meda to create the Otto Bremer Small Business Fund, which will provide $1 million in patient capital to minority entrepreneurs.
This form of funding is aimed at high-opportunity minority businesses that do not yet generate enough revenue to qualify for more traditional operating loans or credit lines. Recipients of these investments will have a longer timetable to deliver returns to the fund, thereby opening up greater flexibility to support long-term strategic decisions.
Read more on current recipients below. Additional recipients will be announced throughout 2018.
Current Otto Bremer Small Business Fun Recipients
Casa Travel & Technologies
Funding recipient Carlos Lopez leads Casa Travel & Technologies, which serves travelers who lack access to traditional banking and credit products. His service creates and issues airline tickets at a discount, allowing customers to process tickets through money transfer services.
Daniel Romo, another funding recipient, co-founded Aucta Technologies, a medical device startup that uses innovative ultrasound nerve stimulation technology to help reduce blood sugar levels in patients with type 2 diabetes. He believes the equity funding will help Aucta raise more capital.
This program is provided with support from: