GRANTS

Despite what the late-night infomercials want you to believe, the federal government does not provide grants for business expansion and growth. There is no “free” money for you to start or grow a business.

LOANS

Financing a business is never simple whether it’s a start-up or a business that’s been around for years. From initial seed money to working capital needed to keep operations going and to pay bills, access to capital remains a major barrier to many minority-owned firms.

Regardless of background, the most important factor in securing small business financing is a strong business plan. Having a good understanding of your business needs and a clear path to fulfill them is a great start to obtaining financial help to start or expand a business. Keeping that in mind, additional resources are available to help the development of women and minority owned businesses. These opportunities are designed to maximize the potential of women and minority entrepreneurs and promote sustainability in the business community.

Federal Loan Guarantee

Programs

Although federal and state governments do not provide grants to women and minorities for starting a business, the Small Business Administration is one of the largest loan guarantors in the country. This gives businesses the opportunity to apply to certified commercial lenders for loans that are backed by the government. SBA does not discriminate against any group and therefore does not provide funding specific to only one demographic; however, individual certified lenders are inclined to award loans to many women and minorities businesses. Recent studies show that SBA-backed loans are three to five times more likely to be made to minority and women owned businesses than loans made by banks. SBA local offices can help you contact a certified lender in your location for more information.

Community Business Development Programs

Several state and local economic development agencies provide loan programs to assist women and minority owned enterprises. Eligibility varies by programs, but most of them are provide start-up financing and working capital for small businesses.

The Minority Business Development Agency (MBDA) is another great resource for financial assistance. As the only federal agency specifically created to foster growth of minority owned businesses, the MBDA has strong relationships with local lenders that helps promote its agenda. The MBDA does not personally provide funding for women and minority small businesses but uses its resources to assist them in securing capital elsewhere.

Banks haven’t made the situation any easier, cutting back on small business loans and making the application and approval process much more difficult. And that’s why so many small business owners come to us.  At 1 Business Loan (1BusinessLoans.com), we’ve taken the small business loan process and simplified it.

Today’s small- to medium-sized business owners face more challenges than ever.  No one understands this better the #1 Business Loans (1BusinessLoans.com). Whether they own a brick-and-mortar location or are strictly digital, competition is stiffer and consumers are more fickle than ever.

For example, our application process takes minutes, not hours or days.  It can be quickly completed online.  We don’t require collateral and we don’t put a magnifying glass up to business owners who’ve had some financial difficulties in the past. Bad credit or no credit is not a problem.

Our approval process is extremely fast as well, because we realize that small business owners need to be able to make quick decisions in order to be able to take advantage of opportunities, keep costs down and stay ahead of their competition.

Speaking of keeping costs low, out interest rates and payment options do just that.  We realize that business owners need flexibility and need to keep costs manageable, and we make it possible with excellent rates and flexible terms.

So if you’ve had problems with getting the banks to give you some help, don’t get stressed, come to #1 Business Loans (1BusinessLoans.com).  Simply put, we’re the easier, faster, better option for small business loans.

We pride ourselves on our easy application process, high approval rates and flexible payment terms. At 1 Business Loans.com, we are dedicated to helping small and medium-sized business owners to not just survive, but thrive.

No matter what type of business you own, from retail to service, medical and online, we have the financial products you need to be successful and we make it easy to get the financial help you need.

If you have any questions, would like to talk to one of our friendly representatives, or need cash fast for your business, contact us today and we’ll take care of you promptly and with great pleasure.

Call us at 888.281.0678 or visit us online at www.1businessloans.com

1 Business Loans (1businessloans.com) …We’re here when you need us!