As you move into a growth phase, make sure you have a good funding source that will sustain you through economic ups and downs. See below for local lending options.
Small Business Administration (SBA) Loans
SBA loans are federally guaranteed and geared towards small businesses and entrepreneurs. Typically, lenders require a completed business plan with financial projections, 20-30% equity or collateral, and evidence of ability to repay the loan.
Alternative Lending Resources for Businesses
These alternative lending resources can help businesses that encounter difficulty gaining financing through traditional means. These lenders can finance start-ups and existing businesses, and some offer pre and post-loan business counseling.
Be sure to check on NEW alternative lending opportunities launched by the EDB in 2016.
Angel Investors and Venture Capital
Angel venture capital investors provide funding to companies engaged in groundbreaking practices including, but not limited to the areas of; Agriculture, alternative energy, biotech, clean tech, communications, industry, high tech, and manufacturing.
Crowdfunding and Other Resources
Crowdfunding connects entrepreneurs with investors and/or donors who pool their resources to fully fund a project or venture. Each of the sites listed below differ in their offerings and requirements, so be sure to investigate each thoroughly.
If you would like your institution or program listed here, please call the Economic Development Board at (707) 565-7170, or email firstname.lastname@example.org.