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Financial Education

  • Submitted on 27 September 2016

    To Venture or Not To Venture
    A Look at Venture Capital


    Often times, minority business owners are reluctant to apply for business loans for fear of receiving too little credit, having to pay outrageous interest rates, putting up higher collateral, or total rejection. So, the question is asked – what can you do as a business owner to get the necessary working capital to take your business towards the next level of success?

    Venture capital (VC) may be the solution. Simply put, VC is a type of private equity - a form of financing that is provided by firms or funds to small, emerging firms that show high growth potential. VC financing can take the form of debt, equity, or mezzanine financing. Interested in learning more? Visit our website, and discover helpful tips and advice.

  • Submitted on 26 September 2016

    The decision has been made. You have decided that XYZ bank is the bank-of-choice to lend your company some badly needed capital. Now is the time to pay that banker a visit, right? Wrong.

    Once you sit down with a business banker, you will need to answer a variety of questions about your financial needs and business goals.  If you do a little homework before hand, answering those questions thoroughly may ensure a smoother, and possibly quicker, loan application process.  Below are a few of the questions that most commercial lenders will want answered before your loan application can proceed.

  • Submitted on 02 August 2016

    Created on August 2, 2016

    The U.S. Small Business Administration released its highly anticipated Small Business Innovation Research (SBIR) online tutorials to help small businesses navigate the SBIR program. The site provides users with a mobile-compatible site to learn about the program through a combination of videos and text. This platform will provide accessible program information and training resources to underrepresented areas.  There is no registration or fee required and the courses are open to all.

    “We are excited to introduce these tutorials.  We know there are many small businesses in rural communities as well as young entrepreneurs that are unaware of this amazing program,” said Mark Walsh, SBA’s Associate Administrator for Investment and Innovation.  “SBA has pulled together resources from across the federal government, providing them in a format easily accessible on mobile devices, while allowing users to select just the information they need.”

  • Submitted on 27 July 2016

    Created on July 27, 2016

    Did you know that the U.S. Small Business Administration (SBA) has the largest seed fund on the planet?

    Capital formation or “seed money” is the first infusion of capital to make an idea go from a napkin to reality. America's Seed Fund, otherwise known as SBA’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, specialize in assisting entrepreneurs in the technology and science fields. SBA is authorized by Congress to deploy $4 billion annually and there is $25 billion in assets currently under management.

  • Submitted on 29 April 2016

    Created on April 29, 2016

    Money Smart for Small Business (MSSB) provides a practical introduction to topics related to starting and managing a business. Developed jointly by the Federal Deposit Insurance Corporation (FDIC) and the U.S. Small Business Administration (SBA), this instructor-led curriculum consists of 13 modules (download the MSSB Flyer). FDIC and SBA invites eligible organizations to begin teaching this free curriculum right away!

    The curriculum can be downloaded , but it is also available in CD format.

  • Submitted on 08 March 2016

    Created on March 8, 2016

    Operating an employee benefit plan can be challenging, especially for small and medium sized employers who have limited time, resources, and access to professional help with benefit programs.  To help increase awareness and understanding about basic fiduciary responsibilities when operating a retirement or health benefit plan, the Department of Labor is presenting the Getting It Right – Know Your Fiduciary responsibilities webcast series.

    The webcast series will help employers and service providers understand how the fiduciary responsibility provisions of the Employee Retirement Income Security Act (ERISA) apply to employer-sponsored retirement and health plans, and provide information on how to avoid common problems in managing a plan.

  • Submitted on 19 January 2016

    Created on January 19, 2016

    The U.S. Small Business Administration (SBA) and the Federal Deposit Insurance Corporation (FDIC) jointly provide an instructor-led business training curriculum, Money Smart for Small Business, for free. This curriculum is designed to provide introductory-style training for new and aspiring entrepreneurs.

    The 13 modules provide the most essential information on running a small business from a financial standpoint. In addition to grounding participants in the basics, the curriculum serves as a foundation for more advanced training and technical assistance.

  • Submitted on 27 November 2015

    Created on November 27, 2015

    Submit CommentsThe U.S. Small Business Administration (SBA) is proposing revisions to its regulations for determining affiliation under SBA’s business loan programs and its surety bond guarantee program.  These revisions are designed to simplify eligibility determinations and reduce costs and processing time.

    The proposed revisions were published October 2, 2015 in the Federal Register.  The comment period will be open until December 1, 2015.  SBA seeks comments from the public on the proposed rule and will consider these comments in its development of a final rule.

  • Submitted on 25 November 2015

    Created on November 25, 2015

    myRAThe U.S. Treasury officially launched its myRA program, a new simple, safe, no-fee retirement savings option for the millions of Americans without access to a retirement savings plan at work. Please see the below press release and spread the word to your colleagues, community members, and businesses.

    myRA makes saving simple, safe, and affordable for individuals to start saving, and is a good option for employers who do not offer a retirement savings plan to any portion of their staff, such as part-time, seasonal, or other employees.  With myRA, there are no costs to open an account, no fees, and no complicated investment options. Plus, people can choose how much to contribute – any amount that fits their budget – and they can access the money they put into their account if they need it. Also, at tax time, individuals can direct all or part of their federal tax refund to their myRA account.

  • Submitted on 05 November 2015

    Created on November 5, 2015

    SEC LogoThe Securities and Exchange Commission announced that it will hold its annual Government-Business Forum on Small Business Capital Formation at its Washington D.C. headquarters on Nov. 19, 2015.

    The morning session of the forum will feature panel discussions on exempt and registered offerings occurring after the passage of the JOBS Act.  During the afternoon session, participants will work in groups to formulate specific policy recommendations.

    Information on the panel participants and the full agenda for the forum will be announced in November and available on the forum webpage.

    The forum, which begins at 9 a.m., is open to the public, and the morning session will be webcast live on the SEC’s website.  The afternoon breakout group sessions will not be webcast but will be accessible by teleconference for those not attending in person.  Anyone wishing to participate in a breakout group either in person or by teleconference must register online by Nov. 13, 2015.

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