To finance the trust, the city would contribute $5 million in start-up funds.
To build enough investment capital, a national bank should be able to attract about 10 times the amount in its start-up fund, banking experts said.
The program's organizers have paid for training and administration in the Philippines so far, but neither has a mandate to provide the start-up funds.
Sinkovich raised over $5000 in start-up funds from nearly 100 people.
The banks support themselves, but they require start-up and expansion funds.
Most of the start-up funds for these businesses have come from personal savings or put together by family members.
That puts start-up funds, with no performance record, at a disadvantage in the battle for investors' dollars.
Access to financial support must be improved for new innovative businesses in the form of start-up funds.
The company contributed $200,000 in endowments and start-up funds for university scholarships.
With $6,000 in start-up funds, the company became a full-time occupation for the two partners.