While the federal government does not provide grants for starting or growing small businesses, it does provide a myriad of services to assist entrepreneurs in pursuit of their dreams. One of the mechanisms in place to promote small business growth and economic development is the Community Development Financial Institution Fund managed by the US Department of the Treasury. In the current fiscal year the federal government is allocating more than $12 Million to support CDFIs.
Community Development Financial Institutions fall into four categories:
The genesis of the Community Development Financial Institution Fund was the Riegle Community Development and Regulatory Improvement Act of 1994. The reason for the fund's existence is to foster economic revitalization and community development.
To get approval for your small business loan application, you must be able to meet the lending criteria set down. Some organisations are more risk averse than others, and will therefore have more st...
The Small Business Administration has established the Loan Guarantees Program wherein they aim to be able to provide guaranteed loans to small business establishments which are not capable of acquiring financing from a private credit marketplace but greatly manifests the ability to repay funds in a timely manner.
Millennials often get flak for being picky, narcissistic and fickle, especially when it comes to doing business. While unemployment struggles often reach more people in younger generations, these seven millennial entrepreneurs featured in the Huffington Post are too busy creating positive social impact, changing other people’s lives and theirs.