Financial Aid Requirements Grants
Women entrepreneurs can choose between loan programs and grants for starting a business. The federal government does not offer grants to people for starting up new ventures but they do have a good selection of special SBA loan programs. For example, the most widely used SBA loan, called the 7-A program, is available through select local banks and lenders. For women entrepreneurs and business owners located in low and moderate income areas of the country, a special SBA loan pilot program known as Community Express, may be available to them.
The Patriot Express Loan Initiative provides financial assistance for veterans and members of the military community who want to establish or expand a small business. (get more information at SBA.gov/patriotexpress)
Women business owners may also find funding through local non-profit agencies. One example is Accion USA, a nonprofit microfinance lender that makes loans of up to $50,000 to small business owners who have insufficient credit histories or other credit barriers.
About Accion:
“ACCION USA is different from a bank or credit union. ACCION USA is a microfinance organization that lends with the mission of empowering business owners with access to working capital and financial education. ACCION USA offers business loans up to $50,000 and financial education throughout the United States.
Since 1991, we have specialized in working with small business owners who cannot borrow from the bank due to business type, a short length of time in business, or an insufficient credit history.” Read related articles on financial aid requirements grants.
Financial Aid Requirements Grants
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