Tuesday, July 24, 2012
Financing For Your New Business
Financing is an integral part to getting your business off the ground and growing it over time. Knowledge about the finances of your business is essential to its success.
Every business needs capital at some point to start up or expand. The next most frequent source of funding is to look for some kind of business loan. Find federal, state and local governments financing programs to help you start and grow your operation. Several state-sponsored financial assistance programs are available to firms locating, expanding or modernizing facilities in California.
Check out what‘s offered at your Small Business Development Centers. Or do a research and explore loans, grants & funding for small businesses. SBA is not the only source for small-business loans. There are state and local economic development agencies as well as nonprofit organizations who provide low-interest loans to small business owners who may not qualify for traditional commercial loans.
There are also grants from the Federal Government available. Grants from the federal government are only available to non-commercial organizations, such as non-profits and educational institutions in areas such as, medicine, education, scientific research and technology development. The federal government also provides grants to state and local governments to assist them with economic development.
If you are not one of these specialized businesses, both federal and state government agencies provide financial assistance programs that helps small business owners obtain low-interest loans and venture capital financing from commercial lenders.