How to get a minority business loan

how to get a minority business loan

LOANS

Financing a business is never simple whether it's a start-up or a business that's been around for years. From initial seed money to working capital needed to keep operations going and to pay bills, access to capital remains a major barrier to many minority-owned firms.

Let MBDA help you better position your company.

  • Visit one of our Minority Business Centers for more in depth one-on-one financial counseling for growth and success of your business.
  • Get started by gathering together some basic loan documentation.

MBDA does not provide loans or grants to start or expand your business. The grants MBDA does provide are

to organizations that operate MBDA's Minority Business Centers throughout the United States. These organizations provide business consulting, procurement matching and financial assistance to minority-owned firms.

Alternative Financing Information

More Information on Federal Loan Programs

  • SBA's Financial Assistance Guide describes SBA loan programs, including eligibility requirements and how to apply for them.
  • USDA's Business and Industry (B&I) Guaranteed Loan Program is for businesses that are located in rural areas. For more details on USDA's Business Loan Programs please contact their State Rural Development Offices .
  • The Department of Transportation provides a Short-Term Lending Program to certified businesses that covers a variety of needs.

Source: www.mbda.gov

Category: Credit

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