July 24, 2018
Patrick Cannon asked that he be allowed to introduce David Sharp to Forum participants.
Cannon argued that African Americans in Charlotte seek advice of whites about financing their businesses, but run down or ignore African Americans who have similar or better credentials and stand ready to help.
Sharp, whose Nile River Capital and Urban Advisors are based in Charlotte, allowed that most of his financial backers and his clients come from outside Charlotte.
Sharp described his Nile River Capital firm as lending small but growing companies the money due them for the work they’ve already done, but for which they will not be paid their fees for sometimes as long as 120 days. For a fixed fee of 3% of the total invoice amount, Nile becomes in effect a partner in making the business thrive. A number of Forum participants were taking notes during the presentation.
Cannon was Charlotte’s mayor briefly before his 2014 guilty plea on federal corruption charges. Since his release from prison, he has taken on a Saturday 9 a.m. radio show, which he promoted during his responses to questions.
In the video below, the presentations begin at minute 7:30. The Q&A begins at minute 29:40.