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Common Business Questions


  • Submitted on 19 July 2010

    I need money for my business, what financing choices available?

    As an entrepreneur you have the following choices:

    Personal, Family and Friends funds, these include savings, investments, retirement funds, credit cards, home equity loans, home equity lines of credit, etc.

    Small Business Administration (SBA) guaranteed loans Lines of Credit and Term Loans.

    The SBA guarantees a portion of the loan to the lender, so in case the borrower defaults, the lender can ask the SBA for the repayment of the guaranteed portion. (You are still responsible for the loan, so your obligation does not go away).

Did you know...

Between 2002 and 2007, minority-owned firms outpaced the growth of non-minority firms in gross receipts, employment, and number of firms. Minority firms are an engine of job creation.
Graph for MBE Growth

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