By Jill Colvin
DNAinfo Reporter/Producer
DOWNTOWN — Attorney LaSonya Thompson's dream job has nothing to do with the law: she to wants to open a "cinema–eatery" — a place where families can come and enjoy a full sit-down meal while watching movies in Manhattan.
Thompson, 28, of Brooklyn, hopes the plan will eventually let her leave her hectic job as a lawyer and build something to pass on to her family.
But first she needs the resources and investors to fund it — and that's exactly the kind of advice she sought out Monday at the Borough of Manhattan Community College in lower Manhattan at the City Council's "Credit Ready NYC" initiative.
The event brought female small business owners and aspiring entrepreneurs together with banks and other credit lenders to help guide them through the often-daunting lending process and get them on their feet.
"It seems like everybody needs financing," said Vianey Corzo, the director of lending at the New York City Financial Network Action Consortium, a non-profit that lends anywhere from $500 to $200,000 to start-ups and small businesses city-wide.
Lenders at the fair said that starting a business is particularly challenging for women, who are also often juggling family responsibilities and have little time for themselves.
"All too often, we are always trying to take care of others in our lives and leave ourselves behind," said City Councilwoman Diana Reyna, who heads the council’s small business committee and was on hand to meet women at the fair. She said the events were intended not only to connect women with lenders, but also network with one another.
"It’s not just a chance, it’s about working for themselves," she said.
Jane Wagner, a documentary filmmaker based in Chelsea, who has worked in film for more than two decades, said that funding for media production has seemed to dry up over the years. She said she hoped to find inspiration and ideas about how to re-think her business plan.
“I would say this is probably the most difficult time,” Wagner said between visiting booths.
Marla Mase, 46, who has planned high-end kids parties for her TriBeCa-based Party Poopers for the past 20 years, has just begun the process of trying to expand into more parties for adults. She said she came to the fair because she was curious about what new services might be available to help her grow.
"It’s definitely tough," said Mase, 46, who said that running a small business is especially challenging as the single mom to two kids.
But high-end jewelry designer Ippolita Rostagno, who is based in Midtown, told fellow business owners to be persistent and keep with it. She said that she had been turned down by lenders again and again, but kept on pursuing her dream.
She encouraged women to reach out to investors who can also serve as mentors as well.
"The biggest challenge for small businesses is that they have an idea, but not the expertise," she said.
Alfonsina Morel, 33, who works at the Lower East Side People’s Federal Credit Union, said that securing credit is especially hard in the current climate.
About one third of the applicants that approach the union to start businesses like hair salons, bodegas and restaurants are rejected, she said.
But Morel advised women at the fair to focus on improving their credit scores, gaining experience, showing commitment to their business plans as well as building relationships with lenders who can help them start small and lend additional money along the way.
"So many women start out with $500 and then gradually increase the amount," she said.
