During these turbulent economic times when small business loans from financial institutions are difficult to obtain, MillerCoors continues to provide business grants to young, aspiring entrepreneurs.
For the past 10 years, the MillerCoors Urban Entrepreneurs Series (MUES) has awarded grants to up-and-coming urban business owners. To celebrate their 10th anniversary, MUES doubled the awards total to $200,000, which includes a single grand prize of a $100,000 grant to a business. Competition was stiff this year. Participants stressed how defending their business plan before the notable panel of judges has prepared them for seeking future business loans and capital.
“Everyone who entered the MillerCoors Urban Entrepreneurs Series and participated in the business plan competition is a winner,” said MillerCoors executive Larry Waters, director of multicultural relations. Even if they didn’t win a grant from this competition, they are better prepared to present their business plan to their bank loan officer, venture capitalist group or an angel investor when the opportunity presents itself.”
Since the inception of the MUES competition, MillerCoors has awarded nearly $1 million, benefiting more than 100 urban entrepreneurs throughout the nation. More importantly, over half of these businesses are still operating, despite the recession. These success stories benefit urban America, because these companies provide jobs, sustain economic growth and development in many blighted communities in major metropolitan markets. –al weems
