Main Street Launch

logo
2101 Webster Street Suite 1200 Oakland, CA 94612

Main Street Launch has launched the African American Entrepreneurship Institute (The Institute). The Institute consists of the following services:

Lending and concessionary (Flexible Loan Products);

Programs (Entrepreneur in Residence, Supplier Diversity, Succession Planning); and,

Strategic assistance which involves qualitative research, ecosystem building, an advisory board of local partners.

Mission

Our mission is to create economic opportunity by empowering entrepreneurs. Through innovative partnerships we provide business owners with capital, education, and relationships that allow them to flourish. Our collaborative approach helps our borrowers create jobs and stimulates economic development in low-to-moderate income communities.

Storytelling

McMullen, owned by Sherri McMullen and supported by her three employees, is a boutique that offers designer and high-end clothing to women in the Oakland area. “When I moved to Oakland, I saw a need for high fashion here. My goal was to create a business so women didn’t have to travel to find great fashion. They could shop in their own community,” remembers Sherri. She wrote her business plan while she was working a full-time job and was able to launch McMullen in 2007.

In 2016, Sherri came to Main Street Launch for a loan to help her grow her inventory supply. “Because of the loan I was able to bring products in from a Nigerian designer, and we did a U.S. launch to support her. Working with Robert [Lattimore, Senior Vice President] was a great experience. He has so much knowledge and expertise that I know I can ask him any question about my business and get great advice,” says Sherri.

In 2004, Chef Ron’s Pastries started like many businesses: doing small orders here and there for family and friends. In 2015 brother and sister Ron a Rhonda Persons officially launched Chef Ron’s Pastries when an opportunity to work with the Golden State Warriors came to them. Since then, the business has been steadily growing, all while both Ron and Rhonda continue to work their full-time jobs.

Ron and Rhonda’s lawyer first told them about Main Street Launch’s Entrepreneurs in Residence program. “We wanted to grow our business beyond catering and events, but we needed guidance. We have the skills to do it, but not the knowledge,” says Rhonda. They met Robert Lattimore, Senior Vice President and director of the Entrepreneurs in Residence program, and a year later joined the program. “The Entrepreneurs in Residence program really set the foundation for what we’re doing with our business now,” says Ron. Rhonda adds, “It feels like we got a master’s degree in our business through this program.” Chef Ron’s Pastries is getting ready to fully launch into their first brick and mortar.

“The resources this program offers seem unlimited. Everyone is able to help, and Main Street staff have their doors open all the way to the top of the organization. This new support system we’ve developed feels like family,” says Ron.

Type of Organization

  • Lending Organization

Locations Served

  • Oakland, California
  • San Francisco, California
  • Stockton, California

Key Programs and Initiatives

  • African American Entrepreneurship Institute

Types of Offerings

  • Financing
  • Capital
  • Entrepreneurial Training
  • Workshops
  • 1 to 1 business advising
  • Mentoring/coaching
  • Accelerator

Program Delivery

  • Hybrid (in person/virtual)

Members of the Black Community Served

  • Immigrants
  • Women
  • 65+/Senior Citizens

Locations of Members of the Black Community Served

  • Low-income areas
  • Low to moderate income areas
  • Urban areas

Targeted Entrepreneur Segments

  • Business Services
  • Manufacturing
  • Wholesale & Retail Trade
  • Accommodation & Food Services

Business Stage

  • Start Up : a young business that is just beginning to develop and determine a market fit.

  • Stay Up : a business that has determined its market fit, but its product/service has not been validated nor has it achieved sustainability.

  • Scale Up : a business that already validated its product in a market and has proven sustainable.

Cost of Programs

  • Free