Small Business Financing Resources
If you’re looking to start your own small business, but don’t know where to go to get the financial resources you need to start, then you might consider some of these options depending on your personal situation.
Government Small Business Loans – Check with your local government agency. There are some government loans you can apply for on a local, state, and federal level to receive the money you need to start or grow your business.
You could get a small micro loan, disaster relief loan to rebuild your business from a natural disaster or a simple short term lending loan. You might even be able to get a loan based on your geography!
Veteran Loans – If you’re a military veteran who served in the armed forces, you may be eligible for a veteran loan to use on your small business. Check with your local veteran’s chapter to apply and see if you qualify for a loan and how much you might be able to get to use on your business.
Small Business Loans – The Small Business Administration offers small business loans and resources to those who qualify for a loan. The SBA works through private financial institutions to offer some of these loans at a low interest rate if you qualify.
USDA – If your small business is in the agricultural industry, then you may qualify for a small business loan. Check out the USDA website to find all of the information you need about their small business loans and what information they need when you apply.
Women – There are many small business loans that cater to owners who are women. Some are offered through your state while others are offered through small business corporations, organizations and non-profits.
Minorities – There are some small business loans provided to qualifying minority groups. The MBDA works with minority groups and evaluates their situation to determine if they can apply for a small business loan. They also offer many tips and resources to help you get started with your business venture.
Grants – Grants are available through the government, corporations, non-profits, and other organizations. This is money that doesn’t have to be paid back, but with some grants, there are specific regulations on how the funds can be spent.
There are many small business loan resources available for almost any situation. Check out all of your options to see which resource will work best for your business needs.