There are a variety of financing programs available to help your business grow. While the Small Business Administration (SBA) is the main resource for small business owners, it is not the only one. Each state has a Small Business Development Center (SBDC) to provide management assistance to current and prospective small business owners. If you are looking to start or expand a small business, contact your local SBDC to see if they can help you. In addition, be sure to read up on Minority Business Loan Programs.
SBDCs offer one-stop assistance to individuals and small businesses by providing a wide variety of information and guidance in central and easily accessible branch locations. The program is a cooperative effort of the private sector; the educational community; and federal, state, and local governments. Here are some of the loan programs your SBDC may offer:
504 loans are offered directly through approved local economic development agencies. The financing agency is limited to 40 percent of the project but not to exceed $1 million.
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