Weather | Sports | Forums | Comics | Classifieds | Calendar | Movies
A non-profit group has issued four small loans so far. It wants to help the Challenge area neighborhoods and beyond.
By JON WILSON
© St. Petersburg Times, published January 31, 2001
ST. PETERSBURG -- When business seed money is hard to get from banks or government programs, the solution is:
Find a way to raise your own.
That's what the African-American Entrepreneurial Association is doing. So far, the group of about a dozen has accumulated enough money through dues and fundraisers to provide four $500 "micro-loans" to help ventures get started.
The AAEA is rooted in the economic development initiatives born of the 1996 civil disturbances in St. Petersburg.
Often plans focused on people who had no jobs, said group president Minson Rubin. And sometimes prospective entrepreneurs had too much income to qualify for assistance, he said.
Nor were banks any help. Asked about them, Rubin and Henry Ashwood Jr., another AAEA member, merely shook their heads and smiled ruefully.
The two hope the 31/2-year-old grass-roots group will help provide economic muscle in Challenge area neighborhoods and beyond. How to go about that is an important subject in the current city election campaign.
"That's the No. 1 issue," Rubin said.
Rubin, who is a public school teacher, also runs a lawn service and Heritage Trail Novelties and Gifts.
Rubin is the AAEA president. The group was chartered as a Florida non-profit organization in August 1997, according to state records.
Ashwood, the AAEA's publicity chairman, is a professional musician who is marketing a device to keep horns from freezing up when bands play in cold weather. He also has a prepaid legal service and is working on several Internet enterprises.
"What we're trying to do is help businesses grow their businesses," Ashwood said.
The AAEA has financed itself through membership dues -- $120 a year -- and fundraisers. It is seeking more members and sponsors willing to help, Ashwood said.
Also welcome are speakers to discuss various aspects of business administration. The AAEA meets from 7 to 9 p.m. the first Tuesday of every month in the auditorium of the main library, at 3745 Ninth Ave. N. For information, call Rubin at 866-2651.
Other AAEA members include Annie Brooks, who operates Ruthe Ann's Fashion and Merchandise; Lydia Brown; Delroy Campbell, who is developing a limousine service; Gloria Green; Selwyn Lucas, who has an Internet promotion business; Joe Mitchell; Ade Popoola, who has a printing business; Fred Tucker, a computer repair technician; and Mary Tucker.