Latest Riot-Related Small Business Loans and Grants

Small businesses that have already struggled with the pandemic are now experiencing the fallout of rioting and looting that has taken place across the nation. The good news is, there’s help.  Here are some of the latest riot-related small business loans and grants.

And some small business encouragement to pull you through. 

$2M Loans Available for Illinois Small Businesses 

Illinois suffered greatly following George Floyd’s May 25th death while in Minneapolis police custody — $32 million in losses due to rioting have been recorded across the state. Everything from high-end shops to smaller, family-run businesses have been affected. 

To provide relief, the SBA has stepped in with low-interest, Préstamos por desastre por lesiones económicas. Qualifying Illinois businesses and private non-profits who suffered riot-related losses between May 26th and July 30th are eligible for up to $2 million in emergency loans for operational costs, payroll, PPE and more. The loan amount will be based on the actual economic injury of the business and its financial needs, regardless of whether the business endured any property damage. The deadline to return economic injury applications is July 13, 2021.

Kenosha Small Business Grants and COVID-19 Relief

Downtown Kenosha Inc. is offering $250,000 in grants to help Kenosha businesses recover from damages caused by rioting during protests in late August. Grant funds are geared toward bridging insurance coverage gaps and providing short-term rental assistance as well as covering clean-up costs associated with damages.   

“This is one step in helping people who have lost their very livelihood,” Kenosha Downtown Inc. executive director Alexandria Binanti said in a statement. “More than repairing buildings, we’re helping families who have committed to building their lives in Kenosha’s small business community. We owe all our Kenosha business families a chance to rebuild stronger.”

And for those Kenosha small businesses that are struggling with reduced revenue due to the COVID-19 pandemic, The Wisconsin Economic Development Corporation has launched a second round of “We’re All In” grants to help. The latest round of the grant program will provide $5,000 grants to 10,000 additional Wisconsin-based, for-profit businesses. Applications will open at 8 a.m. Oct. 19th and close at 11:59 p.m. Nov. 2Dakota del Norte

The St. Paul Midway Fund

los St. Paul Midway Fund will benefit the community around the Allianz Field soccer stadium in St. Paul, Minneapolis for riot-related small business relief, rebuilding and relocation. Two forms of “Small Business Economic Justice grants” are available at

A total of more than $340,000 will be available to 21 small businesses in need of damage relief. Eligible businesses can apply for up to $15,000 to assist with paying for smoke and water cleanup, glass replacement, replacement of stolen goods, lost inventory and any other damages caused by riots, looting and unrest.

An additional $500,000 will aid at least 10 businesses through a “Rebuild and Relocation” program. Qualifying businesses can apply for up to $50,000 to assist in rebuilding efforts, ranging from total fire loss to help with relocation costs due to loss of lease or eviction. Applications will be accepted through Dec. 20th, or until funds run out.

And There’s Hope…

Despite everything that’s been happening, small business owners are finding resilience. Daniel Johnson, a small business owner in Minneapolis, is a good example of this. Johnson’s flagship clothing store, House of Hoodies, burned to the ground during the riots following George Floyd’s death. However, instead of feeling sad for the business loss, he decided to rebuild by opening a new store in Rochester.

“It just lit a fire in me to just keep pushing and we have the younger generation that just watches us. We just wanted to be an inspiration to everyone and let them know and show resilience and if you fall down you have to get back up.” Johnson said.

This is just one of the many small businesses finding strength during this time, and it starts with having a positive outlook to move forward. 

 If you’re not in one of the mentioned areas, be sure to check within your community for any local riot-related small business loans and grants that can help you start to recover. 

Forget the Feds! Take advantage of Regional Support for Your Business

If your business is looking for financing, especially during these times, there are various places you can turn. While many small business owners applied for Federal grants and loans, in the form of the Paycheck Protection Program (PPP) and the EIDL, some of these financing opportunities have come and gone.  But have you considered regional support for your business?

Today, many localities across the country have all sorts of support mechanisms and are ready to help small business owners looking for COVID-19 relief. All you need to do is know where to look to take advantage of them.

Here’s where you can start looking.

Small Business Administration Regional Offices

The SBA doesn’t just operate out of Washington, D.C., all across the country, you’ll find SBA District and Regional Offices set up to help local small businesses in that area.

Within these local offices, the SBA offers programs such as SCORE for free and low cost mentoring and counseling, Women’s and Veteran’s Business Centers to help small business owners create business plans, networking, and marketing help.

This summer, the SBA also introduced the Community Advantage Recovery Loan (CARL) Program, which provides funding for small business owners in underserved markets.

U.S. Chamber of Commerce

Virtually every community around the country has a branch of the Cámara de Comercio (CoC). It can be an excellent source for small business owners to network and get in touch with local funding programs.

Many local Chambers of Commerce are also offering free help and guidance during this time. Search your state or local CoC website. There, you might find a list of local member brands providing grants, training and other free services to small business owners in the region.

State, County and City Government

Muchos states and county governments are also offering small business loans and grants for COVID-19 relief. To find these, search for your local city, county and state’s economic development offices and small business programs, which tend to administer these programs.

Statewide programs vary in size and scale. However, many offer smaller grants and funding to businesses serving in front line work or operating culturally essential institution.  These new options are in addition to more traditional options. Many of these loans focus on keeping struggling small businesses afloat, offering funding to keep employees on the payroll to prevent staff reductions and cover the costs of sick workers.

Rents are also a continuing concern for small business owners. So, check your state, local, and city governments to see if they have enacted rent moratoriums or offer rent assistance.

Several state and county governments are also facilitating personal protective equipment (PPE) to small business owners for employees at no additional cost.

Business Improvement District Programs

Business Improvement Districts (BID) are geographical areas that are overseen by a non-profit organization that helps maintain, improve and promote the area.

An essential part of the growth and improvement of any BID is through its small local businesses. Many BIDs have economic development programs that offer loan and grant programs to qualifying small business owners, especially those who might be underserved in the community, such as women and people of color.

Private Local Groups and Entrepreneurs

Don’t forget to look to local groups and entrepreneurs as well. Many of these groups and individuals offer grants, loans and even microloans to qualifying local business owners in the area.

There are already thousands of groups and non-profit organizations that work regionally providing small business and SBA loans during so-called “normal” times. They are working to continue their efforts during COVID-19 by expanding current loan options and offering new loans and grants.

You Have Options

Even though your business might be struggling under the weight of everything happening in the world right now, know that there are funding options out there for you.

Once you’ve gone through your opportunities at the Federal level, look look a little closer to home and consider taking advantage of regional support for your business. More often than not, you’ll find people and other businesses who want to help you get through this tough time.


Life-Saving Measures for Small Businesses on the Brink of Closure

No matter what part of the country you’re in, you have small business-owning neighbors struggling to keep the lights on. With erratic reopening plans, caseloads that still won’t decline, and the need for social distancing until there’s a widely-available vaccine, countless businesses have been hit hard.  But what can be done?  Are there any life-saving measures for small businesses on the brink of closure?

If you’re a business owner in this situation, you could find enough relief to keep your doors open and critical staff employed using one (or all) of the options below.

Review Your Expenses

While you might have already done this back in March, it might be time to review your expenses again.

Instead of eyeing luxury expenses this time around, put an eye toward ways to discontinue some low-margin services and supplies until traffic gets back to pre-pandemic levels again. This could mean paring-down your menu, hiring a delivery person instead of subcontracting to meal delivery services, liquidating inventory at a deep discount to reduce warehouse space, or even limiting workdays to the most profitable days and hours.

When evaluating expenses to cut, don’t think of these expenses as permanently on the chopping block. Instead, you can bring them back and build back up when life and revenue pick up speed once again.

Get Creative With Payment Arrangements

If you’re strapped for cash, your vendors may be as well. Reach out to your accounts payable and start a conversation about mutually-beneficial payment arrangements.

For example, if you can promise $X toward your invoice every two weeks, that’s better for your vendor than zero dollars. Your vendor gets a predictable cash flow, and you get a reasonable payment arrangement.

If you and a vendor do mutual business (they invoice you and you invoice them), set up a call for an invoice review. Explore creative options like applying their invoice for $1000 to your invoice for $800. You’ll still owe them $200, but it’s a lot better than $1000. This is a simple solution that often slips through the cracks because your AP and AR systems might not communicate with one another.

Explore SBA Loan Options

While the Paycheck Protection Program is no longer offered, there are three other SBA loan options you can explore for a much-needed cash infusion:

  • Economic Injury Disaster Loan (EIDL): If you’re experiencing a loss of revenue due to COVID-19, you could be eligible. Terms are 3.75% interest (fixed) for up to 30 years with no pre-payment penalty. You can even defer payments for up to one year (but interest will still accrue).
  • SBA Express Bridge Loan: If you have an existing relationship with an SBA lender, you may qualify for a loan up to $25,000. These loans can be regular term loans or bridge the gap between today and approval for your EIDL Loan. You just need to reach out to your existing SBA lender to inquire.
  • SBA Debt Relief: If you have an existing SBA loan and have trouble making payments due to COVID-related financial hardship, this program can bring you relief. Eligible loans include “7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020” per the SBA. If you qualify, the SBA will pay any principal, interest, and fees on your loan for six months.

Have a Candid Conversation with Your Bank

Finally, it could pay to sit down and have a candid conversation with your bank. Your bank doesn’t want to lose your business or see you default on lines of credit or other loans. You could find they’re willing to work with you if they know your full financial picture.

There aren’t any guarantees that your bank could come through with funds or reprieves from payments due.  But, if you don’t start the conversation, you’ll never know what’s possible.

Have any other tips or advice on life-saving measures for small businesses?  Let us know.

Find Free Money: Coronavirus Relief Funds and Grants for Small Businesses

Having difficulty finding COVID-19 relief aid to keep your business afloat during and after the pandemic? To jumpstart your search, here’s a list of some available coronavirus relief funds and grants for small businesses.

Hello Alice: Business for All Grant 

Small business owners affected by the COVID-19 pandemic can now submit applications for Hello Alice’s Business for All program. This program, with the support of Verizon, Silicon Valley Bank, Ebay Foundation, UBS, Visible and Stacy’s Rise Project, offers exclusive mentorship opportunities and grants of up to $50,000 to support long-term business growth. Applications are open through September 25th.

MDCalc Ad Grant

For organizations that support clinicians or treat COVID-19 patients, the MDCalc Ad Grant may be of interest. MDCalc is currently donating $1 million in advertising grants to businesses that are contributing to COVID-19 response efforts. Applications are reviewed and accepted on a rolling basis.  

National Association for the Self-Employed (NASE) Growth Grant

NASE members have the opportunity to secure NASE Growth Grants, worth up to $4,000 each, to help finance their small business needs. Small business owners can use their growth grants to help cover COVID-19 related activities, such as buying equipment, hiring part-time help, purchasing marketing materials and more. Annual members are allowed to apply immediately, and monthly members can apply ninety days after joining the NASE.

Urban Excellence Community Grant

The Caleb Brown Venture Capital and Consulting Project provides start-up, for-profit businesses and early staged businesses with grants of up to $1,000 to help rebuild local blocks, neighborhoods and communities. This can be especially beneficial for small business communities hit the hardest by COVID-19. The grant comes with 500 hours of complimentary business consulting for one year. For consideration, applications must be submitted by the 15th of every month.

Amber Grant

los Amber Grant program gives away $4,000 every month in grant money to female small business owners. The organization also expanded its grant-giving to include a year-end grant of $25,000. This is a great opportunity for female small business owners that are in need of extra funding during the pandemic. Applications are accepted at any time and award recipients are announced the first week of every month.

Local Initiatives Support Corporation (LISC) Grant

In response to the pandemic, LISC provides grants to support for-profit, small businesses. Priority will be given to business owners of color, women- and veteran-owned businesses and other businesses in historically under-served communities without access to affordable capital. The next round opening is August 31S t. Prospective applicants are encouraged to register.

The Small Business Relief Fund

los Small Business Relief Fund will issue $500 matching grants to qualifying small businesses that raise at least $500 on GoFundMe. The purpose of this fund is to alleviate small business financial strain during these challenging times. Businesses will need to verify that they have been negatively impacted by a government mandate due to the COVID-19 pandemic to qualify.

Keep in mind that small business grants are also available through certain state and local programs and some nonprofit organizations. For federal assistance in response to COVID-19 pandemic, visit the Administración de Pequeños Negocios.  


Why Have So Few “Small” Businesses Gotten Relief from the SBA?

The first round of SBA PPP small business financing has come and gone and the thousands of small businesses that make up the Kapitus client base have largely been left out in the cold.  While we eagerly await Congress’s approval of additional funds, we used this time to survey our customers to understand who was able to obtain funds from the first $349 billion in forgivable loans, who was not, and which financial institutions were most helpful in supporting small businesses.

What we found was a troubling dependency by small businesses on the largest financial institutions in the country (national and regional banks).  These large banks, as well as the SBA itself, seem to be leveraging a definition of small business that allows large companies to fit their subsidiaries into qualifying entities while independent business owners are overlooked.  The national banks appear to have systematically prioritized these large clients over their smaller constituents and in doing so, exhausted the first round of SBA funding faster than many anticipated.

Our survey was conducted between April 17th and 20th and targeted 26,536 small businesses that we have provided capital to over our 14-year history.  As of Monday morning, we had received 2,076 responses, 80% of which told us they had applied for SBA PPP funding before the money ran out.

Of those respondents, 1,206 answered the question “have you received funding from your PPP application” and 1,116 or 92.5% told us that unfortunately, they have not.  The 90 customers that have received funding provided tantalizing clues as to how small businesses are getting money from the SBA.  The most successful channel to date appears to be through community banks, where 18.8% of applicants have been successful and where customers are more likely to have a personal relationship with a decision-maker inside the bank.

Kapitus PPP Survey

Credit unions have also been moderately successful with 11.8% of applicants receiving funding but have a much lower penetration rate than other banking channels.  Regional banks follow at a 7.2%, followed by the SBA itself (2.7%) and non-bank lenders (1.4%).  Sadly, national banks (such as Wells Fargo, JP Morgan, Bank of America and Citigroup) which have the greatest penetration into the US small business community, have to date done the least to help small businesses in their time of need.  National banks only produced three successful loans in our survey out of 320 applications, a dismal 0.9% success rate.

Why is it that national banks have done so poorly serving the small business community?  Banks are economic animals with scarce resources just like any other company.  When a large number of clients request a scarce resource at the same time, they prioritize their largest, most profitable and riskiest clients first.  In our survey, community banks supplied small businesses with more lending products than any other bank segment.  This indicates that community banks have deeper ties and greater exposure to the plight of small businesses and as a result, during a crisis they work more diligently to ensure that their needs are met.  As seen in the table below, our clients utilize community banks and non-bank lenders more heavily than other types of credit institutions.

Kapitus PPP Survey

Another part of the answer lies in what the SBA, and in turn the nation’s largest banks, consider “small” when it comes to business.  On April 16th the SBA announced that they had distributed nearly 1.7 million loans representing $342 billion, indicating an average loan size of $206,022.  Assuming the average American worker was making $49,764 annually (or $4,147 per month) just before the crisis (Oficina de estadísticas laborales) and considering that PPP loans are sized based on 2.5 times monthly payroll, this implies that the average company getting a PPP loan as of April 13th had 20 employees.  There are nearly 6 million companies with between 1 and 500 employees and the average company in this group has 10 employees (US Census Bureau).  This means that fewer than 28% of eligible small businesses were served in the first round of SBA funding, and those that were served were the largest companies in the range. This argument is supported anecdotally by the fact that companies like Ruth’s Chris, Potbelly and Fiesta Restaurant Group each received between $10 million and $20 million in PPP loans through JP Morgan.  Kapitus PPP Survey

This sequence of facts has been very frustrating to non-bank lenders such as Kapitus who are the only consistent source of financing available to most businesses with 10 or fewer employees.  We have been petitioning the SBA for a temporary license to allow us to lend the PPP product to our core client base (our average customer has 8 employees) since the program was announced.  Nearly two weeks into the program the SBA released an application for non-bank lenders, and we submitted our application within 12 hours of its being published.  Eleven days later we have heard nothing, although some of our larger competitors did receive temporary licenses just as the money in the first tranche was exhausted.

Undeterred, we are working with our clients to secure PPP loans in any way we can.  We have partnered with several community banks and non-bank lenders with SBA licenses to fund our clients and we are lining up additional capital to fund these loans ourselves when and if we are awarded a license.  In the meantime, we counsel or clients on their financing options and continue to provide innovative lending products as small businesses struggle to navigate the most challenging business environment any of us have ever seen.  America’s small businesses owners are some of the most creative and resilient leaders our country has.  We look forward to partnering with the SBA to offer small business owners the solutions they need to survive, rehire, rebuild and reopen as soon as it is safe to do so.

To receive the most recent updates on Paycheck Protection Program and other federal, state and local relief initiatives aimed at helping small businesses visit our COVID-19 Resource Center.


About the Author

About Kapitus - Ben Johnston

Ben joined Kapitus in 2014 as Chief Strategy Officer and became Chief Operating Officer in January 2017.  Prior to joining Kapitus, he was a Principal of Pine Brook Partners, a New York-based private equity firm where he invested in banks, insurance companies, asset managers and specialty finance companies.

Business Loans in NC: Your Ultimate Guide

As a small business owner in the Tar Heel state, you focus on the future with your hands on the present. You have plans to take your business to the next level. Luckily as a North Carolina resident, there are many types of loans from a variety of organizations and institutions to support your business specifically. Depending on your needs and plans, you’re sure to find business loans in NC that fits the bill.

You want to expand your staff; increase your product offerings; ramp up your credit; grow your inventory; invest in an exciting new opportunity. But to realize those plans, you need some financial support from a lender who understands you and your business on a near-personal level. You want a small business loan made just for you. Today, we’ll explore the offerings available to North Carolina residents and businesses so you can make your next move expediently.

Carolina Small Business Development Fund Loans

If you’re looking for business loans in NC, a great place to start is the Carolina Small Business Development Fund–a nonprofit and Community Development Financial Institution that “lend[s] to start-ups and existing businesses across the state, with emphasis on businesses that have difficulty accessing financing through traditional loan sources.”

Carolina Small Business offers a variety of core loan products specific to businesses in the state. For example, if you live in Mecklenburg County, have an annual revenue of less than $1,000,000,000 and don’t have any unpaid judgments, open tax liens, or principal and business bankruptcy in the past five years, you may qualify for the Mecklenburg County Small Business Loan Program. This program offers up to $75,000.

Are you rebuilding your business in the wake of a natural disaster? Consider the Small Business Recovery Fund. It’s designed to “provide gap financing as a complement to Small Business Administration [SBA] and other disaster recovery programs.” This loan grants a minimum of $1,000 to small businesses with no maximum amount. Other disaster-based loan programs offered by Carolina Small Business include the Hurricane Florence Recovery Loan Program.

Carolina Small Business also offers Veterans Direct loans if they’re in-state veterans and/or their spouses are, and Healthy Carolina loans to established businesses and new entrepreneurs involved in the “production, processing, wholesale, distribution, and retail of healthy food products.” This is only possible as long as they’re located and selling healthy foods and food products in food deserts. In addition, Carolina Small Business’s African-American Loan Fund assists African-American entrepreneurs as they develop and expand their businesses.

Mountain BizWorks Loans

Live in Western North Carolina? If so, you may qualify for a loan with Mountain BizWorks. Mountain BizWorks offers loans as low as $1,000 to as high as $250,000 for small businesses in your area. Their model is unique. This means that they “consider non-traditional collateral, offer flexibility in the loan structure, and loan decisions and relationships are managed locally.” What’s more is, they’re willing to work with you to discuss out-of-the-ordinary circumstances that might have hurt a once-strong score. Interest rates vary based on your individual circumstance. However, they promise an answer within two to three weeks of your loan application.

Carolina Farm Credit

Carolina Farm Credit specifically applies to North Carolina’s farmers and rural residents. They offer farm and land loans for agribusinesses. As a farmer, you can seek support in funding for farm improvements, equipment, livestock and operations. Carolina Farm Credit offers farm land and acreage financial options. This is a good option if you’re hoping to expand physically or just get off the ground.

Local Banks and Credit Unions

When it comes to finding the right loan for your business, banks and credit unions can be particularly helpful. Local banks may provide additional tools and resources and leverage connections to help you get a loan that suits your needs and credit that a nationally recognized bank might not be able to do. In North Carolina, there are many banks that value small businesses and their contribution to the economic well-being of the state.


With 285 branches in nearly 200 cities, BB&T is one of the biggest banks in the state. Its options for small business loans in NC are vast. Borrowing options include loans through BB&T, and benefits for members who utilize the SBA.

Self-Help Credit Union

Self-Help Credit Union, another major bank in North Carolina, offers small-business and commercial loans, as well as:

Truliant Federal Credit Union

Truliant Federal Credit Union has branches throughout the state. They offer herramientas to help you assess your business’s finances and secure the right loan for your needs. Loan options include SBA loans, USDA business and industry programs, construction and auto loans, equipment financing and others.

First Bank

First Bank, located throughout the Carolinas, is another fantastic option for business loans in NC. As a local bank, First Bank is intimately familiar with the markets your business touches. They can use that knowledge to support you in making financial decisions. First Bank’s small business loan offerings range from SBA loans to credit cards to lines of credit and beyond. They suit solopreneurs, entrepreneurs, and business owners with dreams to expand their business, to reconfigure financial structures, finance major investments, and beyond.

SBA Lenders

There’s a host of SBA lenders dedicated to supporting North Carolina small businesses in securing loans. According to the SBA North Carolina District Office, these include “SBA 7(a) Lenders, 504 Certified Development Companies, and SBA Microlenders.” For specific details and contact information, see the SBA North Carolina District Office’s official list.

As a small business owner based in North Carolina, you have lots of location-specific borrowing options. While this list contains some of the best and most diverse options for NC business loans, it certainly isn’t every single available option. In fact, depending on the nature of your business, your location and your needs, you might even be surprised to find a loan that’s “tailor-made” just for you.

Funding your next business endeavor can feel daunting, time-consuming, and confusing. If you find yourself feeling overwhelmed by choice and unsure where to start, utilize the resources offered by local banks (or local branches of major banks), the small business administration, or the Carolina Small Business Development Fund. Or, for fast, personalized service, unique expertise, and an answer guaranteed in as little as hours after you apply, consider finding your best financing solution through Kapitus. Once you’re approved, you can hit the ground running and make those pivotal moves that take your small business to the next level in 2020 and beyond.

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What is a PEO? And How to Choose the Right One for Your Business

You probably started your business because you enjoyed the work. Maybe you opened your ideal restaurant or started an electrical contracting business. That part was fun, but other responsibilities surfaced. Now, you have to deal with employees’ human resource issues, find ways to offer benefits and make sure all payroll taxes were filed and paid. Fortunately, small business owners don’t have to cope with these responsibilities by themselves. Professional employer organizations can lift those chores off of the owners’ shoulders. This helps business owners focus more on managerial tasks and growing their businesses. Now, what is a PEO, exactly?

What is a PEO?

A professional employer organization and a business enter into a shared relationship known as “co-employment.” Co-employment means that the PEO is the employer on record. They provide human resource support and handle payroll functions – while you, as the owner, keep the authority and responsibility. You’ll still manage your employees’ day-to-day activities.

Through the co-employment model, PEOs:

  • Are responsible for paying wages, managing employee compensation claims and overseeing other wage-related requirements
  • Assist with regulatory paperwork and compliance issues
  • Manage human resource issues and risk management functions
  • Provide employee benefits. Benefits include- but aren’t limited to – health insurance, unemployment insurance, Section 125 plans and other voluntary insurance products.

What are the Client’s Responsibilities?

The business owner is responsible for:

  • Managing employees’ daily activities
  • Maintaining a safe work environment
  • Keeping track of hours worked and reporting these figure to the PEO
  • Making sure payroll funds are paid in advance to the PEO

Advantages of a PEO

PEOs can take time-consuming HR tasks and responsibilities off your plate. A PEO:

  • Handles all human resource activities so you can focus on managing and growing your business
  • Provides competitive benefits and health insurance. A PEO has the purchasing power to negotiate better health insurance rates and more affordable benefits, such as a 401(k)plan, dental and vision coverage. Using the lower-cost benefits from a PEO enables small- and medium-size companies to compete with and attract employees from larger companies.
  • Stays up-to-date on regulations. As a business owner, you don’t have the time to read the latest regulations. A PEO does this for your and makes sure that you remain compliant.
  • Provides attorneys and HR professionals to handle employee-related issues. PEOs give advice on proper employee termination and disciplinary procedures.

Disadvantages of a PEO

Method of pricing

Sometimes, it can be difficult to determine how much you’re really paying. Many PEOs price their programs as a percentage of wage payroll, but this figure can vary monthly. So, sometimes it’s hard to figure out how much you’re actually paying. The other pricing method is the per-employee-per-month. This approach has add-ons for setup fees, administrative fees and costs for running some payroll reports.

Inflexible health plans

PEOs partner with certain insurance companies, and you don’t have a choice. If you like UnitedHealthCare, but the PEO promotes Aetna, you have to accept Aetna.

Customer service

PEOs handle large numbers of clients and employee issues. Customer service responses can sometimes seem rushed and indifferent.

How to Choose a PEO

Choosing the best PEO for your company requires doing your homework. Here’s a list of questions to help you get started.

  • Assess your company’s needs. What do you need help with -Payroll processing, HR issues, employee benefits? Define what you need before approaching a PEO.
  • Is the PEO a member of the National Association of Professional Employer Organizations? Membership in the industry’s trade organization indicates professionalism and respect.
  • Does the PEO have experience in your industry? You want a PEO that understands the daily lives of your employees and the risks they take on their jobs. How many employees do they represent in your industry?
  • Conduct a background check; ask for references to check; get first-hand feedback directly from the PEO’s clients.
  • Are the financial statements independently audited by a CPA? You want assurance that the PEO is legitimate.
  • Are their risk management practices certified by the Certification Institute?
  • Have their ethical practices been accredited by the Employer Services Assurances Corporation? ESAC audits PEOs annually to make certain each PEO has at least a $1 million surety bond.
  • Does the PEO have certification from the IRS? Check for accreditation such as the Certification Program for Professional Employer Organizations from the Internal Revenue Service.
  • Review the fine print in the contract. What guarantees does it provide? How can you terminate the contract if the relationship goes bad?


According to NAPEO, the U.S. has over 900 PEOs. While you have plenty of choices and setting up a co-employment agreement with a professional employer organization will relieve you of a ton of administrative tasks, you must thoroughly investigate each PEO candidate before signing on the dotted line. You don’t want any surprises.

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The Best Business Loans for Franchise Purchases and Improvements

Are you exploring business loans for franchise purposes? You’re likely bringing some of your own money to the table to finance your dream. However, that doesn’t mean that you won’t need help with other startup costs, future expansion or ongoing funds. You might be surprised at how many options there are in the marketplace. This guide will help get you up to speed on the most popular franchise financing options according to two main objectives: buying a first/additional/multiple franchises and funding existing franchise operations.

Get ready to feel better about your financing options for the next chapter in your entrepreneurial career. Your franchise ownership goals are within reach.

Buying Your First/Additional/Multiple Franchise Locations

Whether you’ve got your eye on owning your part of a franchise or ready to expand your franchise footprint, you’ll need one of the many flexible-use business loans for franchises.

The three most popular types of franchise financing are:

  • Traditional loans
  • Small Administration (SBA) loans
  • Franchisor financing

Look at how each of these financing options can fit the needs specific to someone purchasing an initial franchise.

Traditional loans

When considering the different business loans for franchises, traditional business loans top the list. Proceeds can help purchase or expand franchise holdings.

Traditional loans are smart financing options for small business owners confident that they have the financials and good credit to qualify. With generous loan limits, highly competitive interest rates, and flexible terms, these loans will likely offer some of the best rates in the market. You’ll need to come to the table equipped with solid financials. The rigorous underwriting process is one of the reasons these loans typically offer the most competitive terms. Traditional loans might be an attractive option. Show three years of tax returns, a strong personal financial history and a good credit score. The lender will verify fund source you’re using for your down payment.

With traditional loans, your franchise choice could play a significant role in the approvals process. Lenders like to see big brand names with proven track records in the market. Franchises with few locations might hurt your application. These franchises haven’t worked in multiple markets and various economies. Yet, if you’re a new franchise owner, a traditional loan can use your personal credit and financial history to launch your new venture.

SBA 7(a) loans

los SBA 7(a) loan program is hands-down the most popular loan program. It’s a reliable option for financing franchise startup and expansion costs. When you use these types of business loans for franchises, you’ll find competitive rates and virtually unlimited use of funds. Loan Limits are generous, and flexible terms are perfect for a franchise on the rise.

The first step to qualify for an SBA (7a) loan is to make sure your franchise is listed in the SBA Franchise Directory. If they don’t list your franchise type, you can apply for participation in the directory (note: the SBA will require additional documentation).

Loan limits are up to $5 million and terms range from 10 to 25 years. Interest rates are generally in the single digits (7% to 9.5% is a good range to consider). Prospective borrowers will usually have to be in business for at least two years. This makes the SBA 7(a) loan a better match for existing franchise owners, or those purchasing a franchise in an industry where they have a proven career track record. Lenders will use your credit score and business financials for qualification. While the approvals process isn’t speedy, you’re rewarded with some of the best rates and terms, aside from traditional loans.

The only limit to an SBA 7(a) loan is borrowers can’t use the funds to finance franchise or royalty fees. If you choose to go the SBA 7(a) route, make sure you earmark other funds for these startup costs.

Franchisor financing

Many of the nation’s leading franchises offer direct financing to entrepreneurs. Of course, they want to make it simple for owners to get up and running. This one-stop-shop approach is potentially perfect for those looking to open their first location, adding a location, or purchasing multiple locations at once.

While the rates might not be as competitive as traditional loans or the SBA 7(a) loan, there’s something to be said for a streamlined process. As you consider all the options for business loans for franchises, it’s worth it to speak to the franchise and see what options are available. Be sure to have your attorney or accountant review any financing options offered by the franchise. Then you can compare the terms between a traditional loan, SBA 7(a) loan and the franchise’s direct financing side-by-side.

Funding Ongoing Franchise Operations

You may find times where you need a cash infusion to help fuel operations and growth. The best business loans for franchise needs in these cases is the one that matches:

  • The reason you need the funds
  • How long you need to repay the funds
  • How much you need to borrow

Here are three financing options franchises can use to keep operations running smoothly and make specific improvements.

Traditional business loans

If you know you need a fixed amount of cash for an upcoming franchise improvement or expansion expense, a traditional business loan can help. With fixed terms and rates, small business owners can fund franchise expenses with a predictable impact on their monthly budget.

Repayment terms are often flexible, including payment frequencies based on your current cash flow. Traditional loans have stringent qualification guidelines, and not all businesses can qualify with ease. You’ll need to have existing operations with a proven balance sheet, a plan, and your financials in order.

Lines of credit

If you’re looking for a more flexible way to access the cash your franchise needs, a line of credit might be the ideal tool.

Lines of credit can be used for nearly every purpose imaginable. You can draw as much or as little as needed–and only pay interest on the funds drawn. Once you pay it back, your credit line is once again fully available for use. There’s no need to go through the qualification process again.

For businesses that may not qualify for a traditional loan, lines of credit can fill that financing gap. Credit scores aren’t weighed as heavily in the approval process for most lines of credit, either. These features combined make lines of credit ideal to fund everything from cash flow gaps to seasonal inventory ramp-ups. The sky’s the limit.

SBA 504/CDC loans

While the SBA 7(a) loan is an ideal fit for initial or additional franchise purchases, you’ll need a different SBA loan type for funding ongoing business concerns.

los SBA 504/CDC loan has a narrow scope of use. Funds must be used for acquiring, renovating, or improving real estate or equipment. A borrower’s franchise location must also be U.S.-based. This type of loan can help fund making improvements to franchise real estate, buying real estate, or even upgrading heavy equipment to speed operations.

As with the SBA 7(a) loan, your franchise needs to be listed in the SBA Franchise Directory to be eligible. While these loans are slower to fund than traditional bank loans and lines of credit, you’ll likely be rewarded with some of the best interest rates. With all of the options for business loans for franchises, there’s one out there that makes perfect sense for your financials, credit and goals. And, if you’re still trying to determine the next steps in your franchise financing plans, you can always reach out to a loan officer to discuss.

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Cómo recuperarse de un rechazo de préstamo para pequeñas empresas

El rechazo siempre duele, y cuando es del banco en un préstamo para pequeñas empresas, puede picar un poco más de lo que lo hizo en la escuela secundaria. Los préstamos son el alma de la mayoría de las pequeñas empresas, y sin ellos, la compañía podría colapsar y arder. De hecho, según el Administración de Pequeños Negocios, El 27% de las pequeñas empresas encuestadas declararon que no podían recibir los fondos que necesitaban para expandir sus negocios.

However, there is hope. Many businesses have been rejected only to recover and secure the financing they need on the next application. Here are our tips to help you recover from a rejection.

Determinar la razón

Lo primero es lo primero, debe poder identificar su error para corregirlo en el futuro. La mayoría de los prestamistas le darán la razón por la que su solicitud fue denegada y generalmente es uno de los dos problemas:

  • Puntaje FICO bajo
  • No hay suficientes ingresos

Antes de otorgar préstamos a una pequeña empresa, al igual que cualquier otro préstamo, quieren asegurarse de tener un historial sólido de pago de sus deudas a tiempo y en su totalidad. Si sus puntajes de crédito personales y comerciales son menos que estelares, los prestamistas lo percibirán como una inversión de riesgo.

Además, los prestamistas desean saber que los prestatarios pueden realizar los pagos mensuales mínimos del préstamo para pequeñas empresas. Aquí es donde entra en vigencia el flujo de efectivo de su empresa: calcularán su relación deuda / ingresos para ver cómo podría manejar los pagos mensuales.

Corrige el problema

Hay soluciones tanto a corto como a largo plazo. No puede arreglar su puntaje de crédito en una semana, pero si lo hace una prioridad, con el tiempo, podrá mejorarlo. A corto plazo, puede, en primer lugar, asegurarse de que su informe de crédito esté libre de errores. Sucede más a menudo de lo que piensas como el 23.17% de todas las quejas a la Oficina de Protección Financiera del Consumidor en 2016 fueron sobre inexactitudes en los informes de crédito.

Además, para mejorar su calificación crediticia, puede tomar medidas para pagar sus deudas para mejorar su relación deuda / ingresos, lo que le hará lucir más favorable a los prestamistas.

Para mejorar sus flujos de ingresos y mostrarle al prestamista que su empresa está aportando suficiente dinero para cubrir los gastos y los pagos del préstamo, debe hacer todo lo posible para reducir los gastos y aumentar los márgenes de ganancias. Mejorar el flujo de efectivo puede ser un desafío para algunas pequeñas empresas. Sin embargo, muchos están encontrando el éxito después de poner toda su atención y esfuerzos en el proceso.

Otras cosas a considerar

Hay algunas cosas que puede hacer para mejorar sus probabilidades de asegurar un préstamo de pequeña empresay están destinadas a hacer que parezca más confiable como prestatario.

Puede hacer un pago inicial considerable en el préstamo para demostrar que realmente desea reembolsar el préstamo. También puede obtener un cosignatario con una excelente puntuación de crédito para que parezca más confiable. Sin embargo, el cosignatario también estaría pendiente del préstamo, así que asegúrese de poder realizar los pagos con confianza.

Si tiene un puntaje FICO bajo, también debe buscar financieros alternativos que puedan ofrecerle opciones financieras. Los grandes bancos no son los únicos prestamistas que hay. Además, un puntaje de crédito bajo no necesariamente lo sacará de consideración con prestamistas alternativos.

Qué hacer antes de volver a aplicar

Antes de pasar nuevamente por la frustración y la pérdida de tiempo del rechazo de un préstamo, debe echar un vistazo a usted mismo y a sus negocios desde el punto de vista del prestamista; ¿hay alguna bandera roja?

We recommend taking a hard look at your credit report. Even asking a lender’s advice about any problems they see. It may seem scary to ask them to point out problems, but the issues might arise when you re-apply for the loan anyway. So, it’s better to know beforehand.

Small Business Loan Application Checklist | Updated for 2020

Construir y dirigir una pequeña empresa es difícil. Se necesita convicción, liderazgo, buena gestión y, cada cierto tiempo, una inyección de financiación muy necesaria. Tanto en tiempos buenos como en tiempos difíciles, las empresas a menudo se enfrentan a la decisión de buscar algún tipo de financiamiento. Sin embargo, solicitar y adquirir préstamos para pequeñas empresas y financiamiento alternativo a menudo puede ser desalentador, incluso si lo ha hecho antes. Y los prestamistas tradicionales no hacen esa experiencia fácil.

La buena noticia es que obtener financiamiento no tiene por qué ser tan difícil. Ayudamos a miles de pequeñas empresas todos los días y queremos compartir secretos para obtener buenas opciones de financiamiento rápidamente. Por lo tanto, hemos compilado una simple lista de verificación de acciones que puede tomar para hacer el proceso rápido, sencillo y fácil.

Sin embargo, a medida que se prepara para solicitar un préstamo para pequeñas empresas, debe considerar las siguientes preguntas cuidadosamente para asegurarse de que no se sorprenda ante cualquier solicitud imprevista o decisiones adversas de los prestamistas.

Six questions every business must ask in 2020 before applying for a small business loan | Descargar PDF

1. ¿Debe solicitar un préstamo para pequeñas empresas?

Si bien un préstamo para pequeñas empresas es una excelente manera de reducir la presión sobre los flujos de efectivo, podría tener alternativas viables para aliviar la crisis del flujo de efectivo, como vender deuda con su empresa y renegociar contratos para permitir plazos de pago más largos. Además, asegúrese de haber considerado todas las fuentes alternativas de financiamiento, incluidos amigos y familiares.

2. ¿Es un préstamo para pequeñas empresas bueno para su negocio?

Comprenda el efecto del pago de un préstamo para pequeñas empresas en su flujo de efectivo. Un préstamo no cambia el funcionamiento fundamental del negocio. Fortalece un negocio fundamentalmente sólido y rompe rápidamente un negocio que es fundamentalmente erróneo.

3. ¿Puede usted calificar para una subvención de negocios?

A diferencia de los préstamos, usted no tiene que devolver las subvenciones. Antes de solicitar un préstamo para pequeñas empresas, vea si califica para un subvención federal o privada para pequeñas empresas. Sin embargo, las subvenciones pueden ser muy competitivas y pueden no ajustarse a su horizonte de tiempo financiero.

 4. ¿Qué tipos de préstamos para pequeñas empresas existen?

Hay más de una docena de tipos de préstamos para pequeñas empresas y opciones alternativas de financiamiento para pequeñas empresas. Las opciones más populares son los préstamos de la SBA respaldados por el gobierno, el financiamiento basado en ingresos y el factoring. Descarga esta eGuide para aprender más sobre los diferentes tipos de financiación de pequeñas empresas.

5. ¿Cuándo debe solicitar un préstamo para pequeñas empresas?

Apply only once you have determined that a business loan will help strengthen your business, and you understand the different types of financing options like Small Business Loans, Revenue Based Financing, Factoring, and Financiación de equipos. Each of these options have unique requirements so make sure you understand them well before speaking with a lender.

6. ¿Debes trabajar con un corredor de préstamos para pequeñas empresas?

Los corredores son un gran recurso para obtener ofertas de varios prestamistas. Sin embargo, muchos mercados en línea, como Kapitus, obtendrán ofertas de varios prestamistas sin la comisión adicional que corre a cargo del prestatario.

Lista de verificación de solicitud de préstamo para pequeñas empresas| Descargar PDF

1. Ejecute un análisis rápido de flujo de efectivo en su cuenta comercial

Los flujos de efectivo son uno de los indicadores principales que los prestamistas utilizan para comprender la salud de su negocio. Mostrar de 3 a 6 meses de flujo de efectivo positivo puede lograr que usted sea aprobado más rápido. Incluso puede obtener mejores términos de financiamiento para su préstamo para pequeñas empresas. Puede aprender más sobre los flujos de efectivo y las formas de mejorarlos en "Cómo preparar su pequeña empresa para las necesidades de flujo de efectivo.

2. Recoger al menos 3 meses de extractos bancarios.

Your business accounts are another good indicator of your company’s financial health. Generally, lenders want to see a positive daily balance on your bank statements. Remember, a well managed cash flow will directly improve your bank accounts.

3. Identifique depósitos inusualmente grandes en sus cuentas bancarias y reúna documentos de respaldo para ayudar a explicarlos.

Si bien la presencia de depósitos inusualmente grandes puede demorar la finalización de los préstamos, no son necesariamente malos. Muchas empresas, como las empresas de construcción, pueden explicar fácilmente su presencia en los extractos bancarios. Algunas empresas comprensiblemente tienen grandes cambios en depósitos y créditos en su cuenta. Si su negocio es así, puede acelerar el proceso de solicitud de préstamo y obtener términos realmente buenos para su préstamo para pequeñas empresas al proporcionar una copia de sus cuentas por cobrar y contratos futuros.

4. Obtenga una copia de su informe de crédito gratuito y asegúrese de que no haya banderas rojas

Un crédito personal sólido hace mucho para asegurar a cualquier prestamista la responsabilidad fiscal de la persona que dirige el negocio. Puede obtener una copia gratuita de su informe de crédito en Si encuentra información incorrecta en su informe de crédito, comuníquese con cada agencia de informes de crédito (Experian, Transunion y Equifax) inmediatamente para corregir el problema. Tenga en cuenta que si bien las pequeñas moras son comprensibles, los prestamistas se sienten incómodos con las declaraciones que muestran morosidad en la manutención de menores o quiebras recientemente descartadas (no canceladas).

5. Reduzca el número de prestamistas a quienes debe dinero

Demasiados prestamistas que sacan dinero del negocio pueden crear una severa tensión en su flujo de efectivo. Los prestamistas desean saber que el dinero que proporcionan ayudará a hacer crecer su negocio y no pondrá una presión adicional en sus operaciones diarias. Es posible que desee esperar para finalizar sus obligaciones de préstamo actuales antes de volver al mercado para reunir más capital.

6. Resolver cualquier gravamen fiscal abierto

Los gravámenes impositivos abiertos no resueltos pueden afectar su capacidad para obtener financiamiento. Si es posible, intente obtener un plan de pago sobre cualquier gravamen fiscal abierto. Un plan de pago sobre un gravamen fiscal es mucho mejor que un gravamen fiscal abierto no resuelto.

7. Consigue tres referencias comerciales.

Las referencias comerciales ayudan a establecer la autenticidad y la credibilidad de su negocio. Si alquila un espacio comercial para su negocio, asegúrese de que el propietario sea una de sus referencias.

8. Tenga a mano declaraciones de impuestos cuando solicite una suma grande

Por último, las empresas que contemplan pedir prestado grandes sumas de más de $ 75,000 deben obtener una copia de su declaración de impuestos del año pasado y de sus estados financieros comerciales.

Obtener préstamos para pequeñas empresas no tiene que ser un proceso desalentador. Use esta lista de verificación antes de solicitar un préstamo comercial o una financiación alternativa y obtenga los fondos que su empresa merece.

5 cosas que no sabes sobre el capital de trabajo, pero debes

El capital de trabajo, la cantidad restante después de restar los pasivos actuales de los activos actuales, es el elemento vital de una pequeña empresa. Sin embargo, muchas personas todavía están confundidas acerca de sus beneficios y usos. Aquí hay cinco cosas que muchos propietarios de pequeñas empresas no saben acerca de este importante recurso que ayuda a una compañía a sobrevivir y prosperar:

1. El capital de trabajo puede ayudar a la estrategia a largo plazo, no solo a los problemas a corto plazo.

La mayoría de los empresarios se enfocan en cada uno de los costos cuando inician su negocio. Pero al igual que un jugador de ajedrez de clase mundial, debe pensar varios pasos adelante y ser consciente del capital que necesitará para expandirse a nuevas ubicaciones, contratar nuevos empleados o comprar más equipos. Un franquiciado, por ejemplo, debe estar al tanto de las actualizaciones que serán necesarias. El capital de trabajo no es solo un recurso para necesidades a corto plazo, sino para todo el año venidero.

2. Debe controlar su flujo de caja semanalmente o incluso a diario.

Many small businesses only review cash flow twice a year – on April 15th and October 15th. It debería be a weekly or even daily exercise. When a solid client who has always paid on time starts slipping, it could indicate problems that you want to be aware of as soon as possible. According to Investopedia, the most important way for a small business to analyze its working capital is by operating cycle – the average number of days it takes to collect an account.

3. Debería compararse con otras industrias.

Las pequeñas empresas a menudo están satisfechas cuando sus prácticas de capital de trabajo son iguales o mejores que sus competidores directos. En su lugar, considere industrias con características similares, que pueden proporcionar más ideas sobre cómo fortalecer sus prácticas de capital de trabajo.

4. Anime a los clientes a pagar a tiempo.

Many small businesses have found themselves in difficult circumstances, or have even gone out of business, when they were afraid to call out important clients who constantly drag out payments. “It’s a simple thing to get accounting software and monitor your working capital,” says Dr. Rebel A. Cole, a professor of finance at DePaul University in Chicago.”But that won’t matter if you don’t follow up when people fall behind.” To improve cash flow, consider offering a discount for cash on delivery or taking credit cards over the phone.

5. It isn’t only for your down periods.

Many seasonal or cyclical businesses only focus on cash flow during seasons when sales are down. Smart companies monitor tools and financing practices that keep good working capital practices year-round, which can lessen the impact of the down periods. “If you only worry about working capital when you’re cash-strapped, you will become cash-strapped,” Cole says.


Everything You Need to Know About the Small Business Administration

As a small business owner, you’ve probably heard of the Small Business Administration (SBA) – in passing, at the very least. For most people, SBA loans are the first thing that comes to mind. The SBA is one of the largest loan backers to small business owners in the country. The reality? they have a lot more to offer than you think.

Curious? Good. Here you’re going to get an overview of the SBA. But, you’ll also see what it does and how it can help you grow your business.

What is the Small Business Administration?

The SBA is a United States Government agency. Created post-World War II, the SBA wanted to encourage and support America’s small business owners. They wanted to help boost the economy. The guiding principles of the SBA are the same today as they were at the very beginning.

As stated on its website:

“The U.S. Small Business Administration helps Americans start, build, and grow businesses.”

Préstamos de la sba might be the most well-known of the agency’s programs. But, the SBA also provides business counseling, disaster loans, federal government contracting, and other tools to help small business owner. Getting in touch with the SBA is easy. Its main campus is in Washington, D.C.. But they have dozens of offices across all 50 states and U.S. territories. Many of these offices host local events and in-office programs for small business owners to attend.

Small Business Administration Programs

The SBA runs a variety of programs that small business owners can take advantage of to grow their business.

Préstamos de la SBA

Access to capital is one of the biggest struggles many small business owners face. SBA loans are a primary source of funding for tens of thousands of small business owners across the country. In the 2019 Fiscal Year, the SBA reported over $28 billion through approximately 58,000 approved loans.

The primary SBA loans are the 7(a) and 504 programs. These loans are made through partner lending institutions with the SBA guaranteeing a portion of the loan. The SBA doesn’t directly loan to small business owners. The SBA 7(a) loan is the administration’s most popular. It provides up to $5 million in working capital at a low interest rate for business purposes. The SBA 504 loan provides up to $5.5 million. It can be used for real estate, equipment and other fixed asset purchases. While the 7(a) and 504 are the most popular programs, the SBA offers other financing options too.

They include SBA:

  • Microloans which provide working capital up to $50,000.
  • Disaster loans offer loans to businesses and homeowners who have been affected by nationally declared disasters.
  • Express loans have a quick 36-hour turnaround for approval.
  • Export loans provide capital for small businesses that have export financing needs.
  • CAPLines are lines of credit.
  • Veterans Advantage are loans for military veterans.

Each SBA loan program has specific terms, conditions and requirements. Be sure to check them before applying to any loans. Having a strong business plan and a good personal credit score are key factors for SBA loan applications as well.

Other SBA Financing Options

In addition to the loan programs above, the SBA offers a variety of other financing options for small business owners.

Small Business Grants

The SBA doesn’t offer small business grants directly. However, it does have a few programs that can help businesses focused on the cutting edge of innovation. These programs are the Small Business Innovation Research Program (SBIR) and the Small Business Technology Transfer Program (STTR). They offer grants for qualified businesses producing tech or science-focused research and development programs. These businesses will also have commercial potential.

Venture Capital

The administration also works with Small Business Investment Companies (SBIC), which invest in small businesses. While SBICs are independently owned and managed, the SBA provides oversight in terms of regulation, licensing, and funding.

Government Contracts

The U.S. Government is one of the biggest employers in the world. That’s good news for small business owners. The government has tens of thousands of contracts available at any given time. A portion of those are reserved for small business owners.

The SBA helps support small business owners when it comes to finding and securing government contracts. The administration even offers advice and guidance through online courses and in-person help. Topics include how to become a qualified government contractor.

The SBA also has specific programs to help Women-Owned Small Businesses (WOSB). They help Service-Disabled Veteran-Owned Small Businesses (SDVOSB). And, they even aid small businesses located in historically underutilized business zones. These businesses can be in the HUBZone program, to secure government contracts as well.

Small Business Services

The SBA also offers programs and services for small business owners that offer help to support and grow businesses. These programs are provided free of charge for small business owners.


SBA’s Counselors to America’s Small Business SCORE program has chapters throughout the country. The program is comprised of a network of volunteers who serve as mentors to small business owners. SCORE program members can receive help with everything from creating a business plan to marketing. They receive help through in-person events, online courses and workshops.

Small Business Development Centers

The SBA also partners with many colleges and universities across the country to form Small Business Development Centers (SBDC). These centers work with local small business owners on a variety of training and development programs.

SBA Learning Center

Through its online learning portal, the SBA offers dozens of free courses. They cover everything a small business owner would want to know. Classes range from Social Media Marketing, to Accounting 101. All courses are free.

Other Outreach Programs

Additionally, the SBA also has a vested interest in helping women, veterans and minority business owners succeed. To that end, the administration has smaller outreach centers geared specifically towards these business owners. These programs offer a bit more specialized training and guidance.

Small Business Owners and the SBA

The bottom line? The Small Business Administration is a phenomenal resource for small business owners. They offer everything from classes and mentorship to a variety of funding options. The SBA strengthens the backbone of the American economy: small businesses and their owners.

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