Word: money
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Dates: during 1960-1969
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...know-how attained, money remains the other obstacle for black business. A Roxbury businessman, encountering difficulty collecting collateral for a bank loan, asked Williams for backing. Freedom Industries sold him old supermarket shelving, refrigerators, and cases at $1000, and the bank, accepting his acquisition as collateral equal to $9000, granted him the loan...
...seed money for Freedom Industries itself was provided in part by Williams and in part by an unidentified private individual, who bought stock in the venture. To set up the electronics plant, Freedom Industries borowed $35,000 from the Economic Development Administration under the Department of Commerce. Freedom Industries bought the two supermarkets with a mortgage commitment from John Hancock Life Insurance and financing from the Episcopal Church...
...Money remains a constant problem. The company has had to be very "execute oriented," according to Williams. Parlaying for contacts, inventing new ways to utilize manpower--constant activity is necessary. "It's a gamble to stay ahead of the payroll," Williams said. "So far we have...
...Money...
...financial problems is another of the unresolved questions. The Model Cities project budgeted almost $1.5 million for the college, but provided only $110,000 of federal money. The planners hope for large contributions from the area colleges, but the college administrators have all cited scarcity of funds...