The Enterprise Center also runs a Community Development Financial Institution which connects small businesses with financing options, like a Small Business Administration-backed loan. But there are closing costs associated with building purchases that can add up.

“If they have any kind of dollars saved up to acquire their building, we want them to keep that and use our funds for the due diligence to make that decision,” Clark said.

As interest rates for loans remain higher than in recent years and the economy slows down, it’s more expensive and riskier than ever for a small business to borrow, according to Clark.

“You can’t go to a bank because a bank makes primarily asset-based financing,” she said. “And most minorities have very little assets for collateralization of a loan.”