Small Business Support
Whether you’re looking to start a new business, or to expand your existing one, there are plenty of resources available to help you get started. For instance, there are several small business support programs offered by the State of New York. In addition, there are other resources available in cities and counties throughout the United States.
Whether you are starting a new business or need assistance with an existing one, Indiana offers a variety of resources and programs to help you succeed. These services include free counseling, training workshops, and classes.
The Small Business Development Center (SBDC) provides support to entrepreneurs. The program has 10 regional offices across the state that provide confidential advising, business planning, and financing. It is a collaborative partnership between the Small Business Administration and the Indiana Economic Development Corporation. The SBDC has experts in local communities who can advise and help you with everything from market research to financial packaging.
The Rapid Response Loan Fund is designed to help Indiana businesses with cash flow problems. This program has a range of low-interest loans from $1,000 to $25,000. These loans can be used to cover payroll, insurance premiums, and other expenses. The funds can also be used as a bridge loan until additional funding is available.
Among the multitudes, the New York City Small Business Support Center stands out from the pack. This citywide, multi-agency endeavor aims to help small businesses of all sizes by providing them with the tools and resources they need to grow, succeed and most importantly, survive. The center is also home to several nifty free services. Whether you are looking for help with your taxes or want to start a business, the nip and tuck will have you covered. Located at the Long Island Business Center, the center is a one-stop shop for all your needs.
The center is also home to a myriad of free events, seminars and workshops for the locals. The most important of which is the Boost Your Business (BYB) program, which offers one-on-one guidance, access to low-cost financing, as well as access to business-friendly resources such as the Small Business Administration and New York State Small Business Development Center. For more information, visit the BYB’s website or call 877-500-BAB.
Counties are doing their part to provide a helping hand to local businesses. They are not only enacting programs to seed loans and grants to encourage business owners to spend their hard earned dollars in the county, but they are also serving as comprehensive information clearinghouses for small business owners.
The Small Business Administration (SBA) is one of the many federal entities that offers loan programs to help local small businesses get their feet under the table. The SBA has a plethora of loan products available, including the Paycheck Protection Program, which helps protect small businesses from wage garnishments and taxes owed on wages.
The Small Business Administration also offers the Economic Injury Disaster Loan, which can be used to pay for bills that can’t be paid because of the disaster. The SBA’s website provides a list of loan programs that can help local small businesses. Among the loan programs are the Home Appliance Loan Program, which can be used to purchase refrigerators, washers and dryers, and freezer stoves.
Harlem Entrepreneurial Fund
During the recent global pandemic, Harlem entrepreneurs have celebrated success in their efforts to survive. With the assistance of the Harlem Entrepreneurial Fund, local business owners are able to expand and create jobs. They can apply for financial support, which can be provided within eight weeks.
The Harlem Commonwealth Council has created the Harlem Entrepreneurial Fund (HEF), a microfinance organization that serves the needs of low-income and minority populations in the area. The organization provides a variety of services to help businesses grow, including lending capital, technical assistance, and job creation. During its first five years, HEF has funded 257 loans totaling over $4 million. It is currently working on securing funding for the next round of grants.
The Harlem Entrepreneurial Fund is a MWBE client, and has served over 650 businesses and created or retained more than 650 jobs in the community. The nonprofit provides small business loans from $500 to $100,000, with 1-3 year terms at a fixed interest rate. It also has a portfolio of credit builder loans designed to help entrepreneurs with poor credit.