Updated County Profiles For NYS20/10/2022
Content on is being reviewed based on the transition in Administrations, and will be updated to reflect the new policy and management priorities. SBDC clients receive free, extensive, one-on-one, long-term professional business advising, low-cost training and other specialized services. Resources for financing including understanding the approval process for loans and grants are readily available and are essential steps in forming a business.
The lenders can use their own forms and credit underwriting standards for similarly sized loans. The number one function of these loan programs is to make loans with longer repayment periods available to small businesses. The government will guarantee your loan, if anything happens to your business and you default, the SBA guarantees that they will pay the loan off for you.
In addition, SBA will leverage its outreach by working with state, federal, and other resource partners in order to promote customized trade financing options to the small business exporting community. Guests do not want to deal with time consuming administration and they do not want to be kept waiting either when arriving or departing.
Returning small business operations to normal after a disaster is critical to ensuring that local economies regain traction as quickly as possible and are once again able to contribute to the economy and create jobs. The portion of business loans which banks make that are under $1 million dollars has been shrinking for decades.
Since your business is established and your revenue is solid, Funding Circle, SmartBiz and Bond Street are good financing options. The SBA defines a small business as one that is independently owned and operated, which is not dominant in its field and which meets certain criteria based on industry classifications.