SBA Boise District Office’s Post

The unique approaches of FACC and AICCW 👇 While we share a common goal: supporting economic and business development within the Native Nations communities and among tribal members in Wisconsin, our paths to achieving that mission differ. AICCW serves as the chamber of commerce for Native-owned businesses across the state, offering targeted services to American Indian business owners. They also advocate for, provide access to, and deliver economic development resources, tools and networks to Wisconsin’s Native Nations.    The AICCW promotes business and economic development in Wisconsin Industry Country.    We (FACC) are driven to help Wisconsin entrepreneurs and small business owners succeed using our Revolving Loan Fund and providing technical assistance services.    We work closely with the Small Business Administration (SBA) to provide funding to small business owners and entrepreneurs through two avenues: 1 – SBA Community Advantage loan: Helpful for those who are not approved for conventional financing 2 – Microloan program: Provides loans up to $50,000 to help small businesses start and expand. To learn more about the differences and the services we provide, read our latest article: https://lnkd.in/gEqwS8fr

The U.S. Small Business Administration (SBA) has reported a record-breaking surge in new business applications, with a total of 16 million applications filed under the Biden-Harris Administration. In 2023 alone, 5.5 million new business applications were filed, marking the strongest year of new business applications on record. Since the start of the Biden Administration, 1.3 million private establishments have been added, and small businesses have been a driving force in the U.S. economy. The growth in minority and women entrepreneurship is particularly noteworthy, with Black business ownership doubling and Latino business ownership seeing a significant rise. The SBA's lending activities have also supported this boom, with loans to minority and women-owned businesses increasing, including a record-breaking $3 billion in loans to Latino-owned businesses in FY23.

From networking groups and educational workshops to information about grants and small business loans for women, the following resources empower female entrepreneurs to thrive. https://lnkd.in/gScaehJ9

Where can women entrepreneurs find money to start and grow their small business when they need money but don't yet have the financial history to qualify for a business loan? Grants! Women own over 12 million businesses in the U.S. and still face obstacles in accessing business financing. There are other options that don't require repayment -- grants. This article lists 20 business grants for women, both from private organizations and from the federal government. It includes excellent information about business type, application timing and deadlines, qualifications, grant amounts available and how to apply. #womenentrepreneurs #womaninbusiness #womenandfunding

Business owners of color, and women- and immigrant-owned businesses, receive less investment, fewer bank loans, and less of pretty much every other kind of funding as compared to other businesses. So why do we think the new federal programs to save small business will be any different? We need different ways to reach our small businesses, and then also require ourselves to measure our success (or failure) to reach a diversity of business owners. Here's the next three steps we need to take. https://lnkd.in/gCkrst9

Business owners of color, and women- and immigrant-owned businesses, receive less investment, fewer bank loans, and less of pretty much every other kind of funding as compared to other businesses. So why do we think the new federal programs to save small business will be any different? We need different ways to reach our small businesses, and then also require ourselves to measure our success (or failure) to reach a diversity of business owners. Here's the next three steps we need to take. https://lnkd.in/gCkrst9

Fairfield County Community Foundation Small Business Lending Many Fairfield County small business owners experience barriers to obtaining credit or loans needed to grow their businesses. This is particularly true for Black, Indigenous and People of Color (BIPoC) entrepreneurs living in neighborhoods with lower to middle incomes. In an effort to support these small business owners, the Community Foundation has partnered with Honeycomb Credit, an innovative platform for eligible small businesses to borrow funds from their customers, community members, and Fairfield County’s Community Foundation (FCCF). FCCF has committed $200,000 to this community investing pilot program. Business owners with a capital need of $25,000 or more are encouraged to apply and benefit from an initial investment of $10,000 from the Fairfield County Community Foundation. FCCF hopes small businesses throughout Fairfield County can take advantage of this innovating funding opportunity. Learn more at https://lnkd.in/ezB-juAb. @fcffoundation_ct @norwalkforbusiness @norwalk_ct #norwalkct #norwalkbusiness #shoplocal #buylocal #norwalkforbusiness #newbusiness #startupbusiness #businessdevelopment #economicdevelopment #businessloan #smallbusinessloan #smallbusinessfinancing #financialsupport #technicalsupport #financialincentives #opportunityzone #enterprisezone #entrepreneur #socialimpact #microfinance #financialinclusion #wmbe #mwbe #minorityowned businesses #womenownedbusinesses

During the NYC Small Business Month Expo, New York City Mayor @Eric Adams and the @New York City Department of Small Business Services (SBS) announced $10 million in seed funding for a new small business loan fund called the "NYC Future Fund". The fund is set to accelerate the growth of new small businesses in NYC by providing affordable capital to early-stage, BIPOC, and women entrepreneurs who have historically struggled to secure traditional bank financing. According to the New York City Economic Development Corporation (NYCEDC), more small businesses than ever before are operating in the 5 boroughs at just over 183,000 companies - with 62,000 of those small businesses created in the past 2 years alone. To read more about how New York City is changing the game by providing capital to entrepreneurs, click here: https://lnkd.in/eJ-VAP6g

In 2016, we published our first Ripple Effect report, showcasing the impact of 7,551 small business loans made in California by Opportunity Fund. Fast forward to today, Accion Opportunity Fund (AOF) now serves small businesses across 45 states, offering not only loans but also comprehensive business advising and educational programs. This latest report, "Ripple Effect: The Macroeconomic Impact of Small Business Lending," highlights the significant benefits of investing in underserved small businesses. On average, every $1 invested generates $2 in economic impact annually across multiple states. This research underscores the critical need for supporting small businesses and non-profit Community Development Financial Institutions (CDFIs) like AOF. #Smallbusinessloans provided by CDFIs empower entrepreneurs, strengthen our communities, and boost our economy. I encourage you to explore this report to see how the impact of our loans extends far beyond the immediate borrowers. Together, we can create an even bigger ripple in the future! Read the full report here: https://lnkd.in/gEbXEFtC. P.S. - Join us later TODAY at 11am PST/2pm EST for a webinar centered around this ripple effect, where you'll have a chance to ask questions live and interact with a small business owner featured in the report. Register here: https://lnkd.in/g4WMywcg! #SmallBusiness #EconomicImpact #CommunityDevelopment #Entrepreneurship #AccionOpportunityFund #CDFI

Government-Backed Loans for Women Entrepreneurs 🔥 On International Women’s Day, we are happy to share an initiative that empowers women entrepreneurs across Canada to pursue their dreams and ambitions. 📌 The Women Entrepreneurship Loan Fund, backed by the Government of Canada, aims to provide vital financial support to women-led businesses, enabling them to thrive and succeed in their endeavors. Within the Initiative, the Government of Canada has selected several delivery organizations to provide loans to women entrepreneurs. The selected delivery organizations are now accepting loan applications from women entrepreneurs: ▪  The Women’s Enterprise Organizations of Canada (WEOC) ▪  The National Aboriginal Capital Corporations Association (NACCA) ▪  The Northumberland Business Development Assistance Corp ▪  Coralus, formerly SheEO ▪  Evol 📌 To apply for the available loans, applicants must prepare their business plans. This ensures that recipients have a clear roadmap for success and helps set them up for long-term sustainability. With a profound background in business planning, our team is here to support you every step of the way, from crafting your business plan to navigating the loan application process. We’d also like to remind you that women entrepreneurs qualify for a variety of regular grants and loans beyond the Women Entrepreneurship Loan Fund. So, we encourage you to explore all available resources to maximize your business’s potential for success. Need help with this or other government funding programs but don't know where to start or how to prepare an application? Fill out the Eligibility Check form at https://lnkd.in/enTHr5W to find out.