Thankfully, with a little planning you can start taking action straight away that will add up to one impressive performance hike for your business. A quick glance at your business plan lets you determine if you are on the right track to achieve your goals or whether you might have to steer the boat back on course. Our Small Business specialists and wealth planners can help you with business succession planning as well as your personal wealth planning. Your ability to document profitability for investors, banks and others can help your efforts to secure financing.
- Or government grants, or even new tactics such as crowd funding.
- Armed Forces on new credit facility applications submitted in Small Business.
- Your FundThrough application takes just minutes to complete online, and there are no personal credit checks or other hoops to jump through.
Minority Depository Institutions often promote the economic viability of minority and under-served communities, and MDIs make a greater percentage of small-business loans to minority borrowers than other financial institutions. Each U.S. Export Assistance Centers is staffed by professionals from the SBA, the U.S. Montgomery County created a microloan program that provides loans ranging from $500 to $15,000 for County residents needing additional help to start and grow small businesses.
Getting Financial Aid
And she was part of a one-year Erasmus student exchange program at Corvinus University of Budapest, Hungary. Over the years, in Europe, Canada, and United-States, Blandine has acquired valuable experience in a wide range of industries, including Biotech/MedTech, CleanTech, IoT, SmartCity, Manufacturing, and Consumer Goods. Welcome to the Small Business Development Center Network Website!
Our financing often supports job creation and retention which fuels economic development in our communities. SBA also considers potential contributions that are available from the business and/or its owner or affiliates. We have been told that you should still be able to apply for an economic injury disaster loan even if you already have a separate SBA loan. IDC is a national development finance institution set up to promote economic growth and industrial development. It is owned by the South African government under the supervision of the Economic Development ministry. The Federal Reserve’s 2022 Small Business Credit Survey is open for responses, and the Virginia SBDC Network is a partner on this effort.
Montgomery County Economic Development Grant and Loan Program
Some businesses are reducing employee or opening hours now because sales have dropped so far and so fast that they’re not able to keep up with operating expenses. If that’s you, reach out to us so we can help you figure out how to support your employees and connect you to a business advisor if applying for a SBA Economic Injury Disaster Loan makes sense. And remember–there are rules about how many hours you must pay an employee if they show up to work and are sent home. Business owners who are able to run a business with virtual workers are encouraged to do so.
Inception Micro-Angel Funds (IMAF)
These impacts were even more pronounced for older entrepreneurs of color. Firms of color were more likely to experience financial and operational challenges stemming from the pandemic. These challenges are particularly salient given the important role business ownership plays in wealth building and employment in communities of color. We are connecting emerging solutions with funding in three areas—health, household financial stability, and climate—to improve life for underserved communities. The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.