Federal Minority Business Loans
federal minority business loans
Government Grants for Starting Or Growing a small business
Despite what many people tell you, the idea that the government is just sitting around with a pile of money waiting to give out to you or any other small business is just plain wrong. This is not to suggest however that no grants are available to anyone at any time.
The whole idea of a grant is to provide capital for some activity the government wants to encourage. Typically this means in less desirable areas or opportunities. So although there may be grants available for things such as encouraging the arts or research into a specific disease, unless you can fit your business into these niche areas, there is not a lot of grant money your dream.
This isn’t to say that assistance isn’t available at all, just that grants are probably a long process when and if you happen to find one where your small business fits. There are other ways however that you might explore to fund a small business.
Of these small business financing options, one of the most popular is the loan. That’s right, just go out and borrow the cash needed. If you’ve done your homework and have a solid business plan then the thought of self financing through your personal credit lines shouldn’t worry you. After all, you’re really betting on yourself that you will be successful.
There is a lot of confusion about the small business administration. Yes, this is the government agency dedicated to helping small business…just not with grants. The SBA actually funds a very small portion of the total number of small business loans that are called SBA type loans. What the SBA actually does is “guarantee” to the bank that the money will be paid back, either by you or as a last resort by the SBA/government. If this sounds a lot like the Federal Housing Administration (FHA) you are correct.
Like the FHA, the loan needs to meet their lending or “insurance guarantee” standards. For a small business loan, it’s much the same. The SBA will look at your credit, ability to pay back the loan and the business plan.
Other potential sources of private loans can be found based on ethnic, religious, military service – veterans, or other sub groups of the population. Check out all resources until you find a group willing to finance your dream.
Finally, never give up. I personally know someone who wanted to start a home construction business and needed funding for his first home. The SBA was not an option, and being young, most banks just looked and politely declined. Long story short, he ended up going to 53 different lending institutions but he DID finally find a small, local savings and loan willing to take a chance on the new guy. Why? Because although he didn’t have all the necessary “security” they were impressed by the list of financial institutions he went to and was turned down but never gave up.
About the Author
Abigail Franks writes on a variety of subjects which include family, Health, and Home. For more info on business grants and starting a business visit the site at http://www.4envelopes.info/how-to-start-small-business.html
and http://www.business-grants.primo-living.com
Isnt minority lending an actual federal banking term and not a racist remark ?
Does it make one a racist if one is a business analyst discussing it?
Ive seen over and over how Neil Cavuto is a racist for talking about this actual banking term.
There are minority lending quotas that are put in place federally to make sure that minorities aren’t automatically being turned down for home loans due to their race or location.
Does discussing this make Cavuto a racist or a business talking head discussing this issue? Does looking at the possibility of this being part of the mortgage problem a racist mindset or an actual possibility?
I abhor racism, but I abhor REAL racism and I dont find this racist at all. What are your thoughts?
No simply using the term “minority” is not racist. Trying to place the blame for the current mortgage crisis on the practice is.
|
|
2005 Complete Guide to Federal Small Business Programs and Federal Business Opportunities: SBA Programs, Services, Loans to Small Businesses, Selling … Kit–Doing Business with Uncle Sam (DVD-ROM) $29.95 This up-to-date electronic book on DVD-ROM provides the ULTIMATE in comprehensive coverage of the entire spectrum of federal small business programs and federal business opportunities. It combines the contents of THREE of our best CD-ROM titles! Save time and effort by using this comprehensive resource to find what you need to do business with Uncle Sam or get assistance for your small business! H… |
|
|
Regulators target fair servicing: regulators are now analyzing whether minority borrowers are receiving loan modifications on par with similarly … An article from: Mortgage Banking $9.95 This digital document is an article from Mortgage Banking, published by Mortgage Bankers Association of America on June 1, 2010. The length of the article is 2997 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Regulators target fa… |
|
|
Small-business access to trade credit: Some evidence of ethnic differences (Policy studies) … |
|
|
Billboard, Loans, Loans, Loans $24.99 Billboard, Loans, Loans, Loans – Premium Poster |
|
|
Americas Persecuted Minority: Big Business $12.63 No Synopsis Available |
|
|
Minority The $10.29 Rated: NASynopsis: The Minority, filmmed in New York city in 2007, is a fictional story about a young, honest african american guy who is oblivious to racial discrimination. Then he gets fired from his job and experiences a series of racially biased incidents which deeply affects his cheerful personality. The Minority is an ambitious and courageous film that questions the current state of race relations. |
|
|
National Directory of Minority-Owned Business Firms $42.47 This book is in Good Used condition |
|
|
National Directory of Minority-Owned Business Firms, 1988 $190.13 No Synopsis Available |
|
|
Business Ethics : The Ethical Revolution of Minority Shareholders $48.7 No Synopsis Available |
|
|
Minority Business Success : Refocusing on the American Dream $58.5 No Synopsis Available |
|
|
National Directory of Minority-owned Business Firms $287.63 No Synopsis Available |
|
|
National Directory of Minority Owned Business Firms $287.63 No Synopsis Available |
|
|
Minority Report $179.99 Minority Report – Framed Poster |
|
|
Liberty Loans WWI USA $39.99 Liberty Loans WWI USA – Giclee Print |
|
|
Federal Income Taxation of Business Organizations $165.3 No Synopsis Available |
|
|
Regulating the Business of Insurance in a Federal System $66.88 No Synopsis Available |
|
|
Federal Income Taxation of Business Enterprises $61.7 This book is in New – Excellent condition |
