Greater Phoenix Economic Council’s Post

NYS Launches Main Street Capital Program: $10 million fund for start up small businesses Governor Kathy Hochul announced the launch of the Main Street Capital Program, a new $10 million fund that will provide qualifying start-up and early-stage companies with access to affordable term loans up to $100,000. Part of New York’s broader State Small Business Credit Initiative efforts led by Empire State Development, this program will help bridge the financing gap experienced by many entrepreneurs as they launch and grow their businesses. “New York’s businesses are the backbone of our economy and a key driver of our economic growth,” Governor Hochul said. “The Main Street Capital Program will boost and strengthen our small businesses, especially our minority and women entrepreneurs, creating jobs and investment in New York State.” Recognizing the critical support entrepreneurs need early on, this program offers minimal payments for the first 12 months of the loan to give businesses more flexibility as they launch and grow. Loans will be up to six years with a fixed interest rate of 9.9%. In the first year, borrowers will pay less-than-interest-only, with no principal payments during that time. This $10 million fund is a partnership between Empire State Development and Pursuit, a community lender with a 70-year history serving businesses in all stages in New York State and beyond. Many entrepreneurs in the startup and early-growth phases of business lack access to equity and networks for financing needed to be successful. The Main Street Capital Loan Fund offers a more accessible option, particularly for Socially and Economically Disadvantaged Individual Owned Business (SEDI) and Very Small Business (VSB) entrepreneurs with fewer than 10 employees. Empire State Development President, CEO and Commissioner Hope Knight said, “Entrepreneurs and their innovation fuel New York State’s economy. The Main Street Capital Program is one of the ways Empire State Development is helping provide promising start-ups and early-stage companies the tools they need to launch, grow, and achieve business success.” Startups and early-stage businesses must complete a pre-application questionnaire. Based on their responses, they will be invited to complete a full application for the program, or they may be connected with their local Entrepreneurial Assistance Center (EAC) or Small Business Development Center (SBDC) for additional support. For more information on the fund, eligibility, and requirements, please visit the program’s webpage. https://lnkd.in/g7CG9nWv https://lnkd.in/ePnBZS-z https://lnkd.in/eSnfvbgV

How to Finance an RV Park With No Money Down We'll explore creative financing strategies that go beyond bank loans, look into government grants and programs to support small businesses..... #investing #RVbusiness #rvparks #Rvpurchases

How to Finance an RV Park With No Money Down We'll explore creative financing strategies that go beyond bank loans, look into government grants and programs to support small businesses..... #investing #RVbusiness #rvparks #Rvpurchases

How to Finance an RV Park With No Money Down We'll explore creative financing strategies that go beyond bank loans, look into government grants and programs to support small businesses..... #RVbusiness #Rvpurchases #rvparks #investing

**📚 Non-Conventional Financing: An Education Moment 📚** At **New England Capital Loans**, we believe that knowledge is power—especially when it comes to financing. While traditional lending options are great, they aren't always the best fit for everyone. That's where **non-conventional financing** steps in. Non-conventional loans offer flexibility, speed, and personalized solutions for borrowers who might not meet the strict criteria of traditional banks. Whether you're an investor, entrepreneur, or someone with unique financial circumstances, our solutions are tailored to meet your needs. 🚀 **Why Choose Non-Conventional Financing?** - Faster approval and funding - Flexible credit requirements - Creative lending options for unique projects - Ideal for real estate investors and entrepreneurs At New England Capital Loans, we’re not just lenders, we’re partners in your success. Our goal is to educate and empower you to make the best financial decisions. Let’s connect and explore how non-conventional financing can unlock opportunities for you! #Financing #RealEstate #Entrepreneurs #BusinessGrowth #LendingSolutions #NewEnglandCapitalLoans #NonConventionalLoans newenglandcapitalloans.com 978-489-5913

🌟 Need funding to kickstart your business dream? Look no further! CEED's Startup & Expansion Loans are here to support entrepreneurs like you every step of the way. 💼💡 Securing startup business loans isn’t always easy, but with CEED by your side, the journey becomes much smoother. Our dedicated loan advisors work closely with each entrepreneur, providing personalized guidance and ensuring you're ready to take on the loan process with confidence. ✨ General details for CEED’s Startup & Expansion Loans: 🔹 Eligibility: Businesses registered within the Halifax, Dartmouth, and Bedford boundaries 🔹 Loan Amount: $5,000 to $25,000 🔹 Features: Low interest rate, flexible repayment terms, no penalty for early repayment 🔹 Additional Support: Access to resources, business skills development, and community partners for additional funding Our experienced CEED loan advisors are here to: 🔹 Explore financing options for your business 🔹 Offer guidance and templates for your business plan and financial projections 🔹 Connect you with valuable business resources and opportunities for skills development Startup and Expansion Loans from CEED are more than just financial assistance – they're a lifeline providing ongoing support and wisdom throughout your entrepreneurial journey. 💪💼 Ready to take the next step? Book your meeting with our loan advisor today! 💼📈 For inquiries, feel free to reach out to us at info@ceed.ca. Let's make your business dreams a reality! 💫 #CEED #StartupLoans #Entrepreneurship #BusinessFunding https://lnkd.in/dSpqMCB

🚀 Unlocking the Secrets to Secure a CGTMSE Loan up to 5 Cr with Terkar Capital! 🔍 Are you an aspiring entrepreneur or a small business owner seeking financial support to fuel your dreams? Look no further! Terkar Capital is here to pave the way to your success with CGTMSE loans. 💡 CGTMSE is a game-changer for #msmes or small businesses, offering collateral-free financial assistance of up to 5 Cr! And here's the catch – navigating the intricacies of this loan can be daunting without the right guidance. But worry not, because at Terkar Capital, we've decoded the formula for your success. 🔑 Key Insights to Unlocking Your CGTMSE Loan: 1️⃣ Understanding the CGTMSE Scheme: Dive deep into the nuances of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme. Know your eligibility criteria and how to leverage it to your advantage. 2️⃣ Crafting a Robust Business Plan: Your business plan is your blueprint for success. Learn how to create a compelling plan that showcases your vision, potential, and ability to thrive in the market. 3️⃣ Navigating the Application Process: From documentation to submission, every step matters. Discover insider tips on how to streamline the application process and increase your chances of approval. 4️⃣ Optimizing Financial Management: Showcasing financial stability is crucial. Learn how to manage your finances effectively to instil confidence in lenders and secure the funding you need. 5️⃣ Maximizing Growth Opportunities: The CGTMSE loan isn't just about funding; it's about propelling your business to new heights. Explore strategies to utilize the loan for expansion, innovation, and sustainable growth. 🌐 Ready to Take the Next Step? Connect with Terkar Capital . Don't let financial barriers hold you back from realizing your entrepreneurial dreams. Connect with Terkar Capital in securing CGTMSE loans and transforming aspirations into achievements. #Entrepreneurship #SmallBusiness #CGTMSELoan #TerkarCapital #BusinessGrowth

Our specialised business loans have saved 1000's of businesses over the years. They have also saved many business owners from losing everything. #businessloans

Before the pandemic, Black and Brown business owners in Oakland had come to expect a 99% rejection rate for loans from traditional banks. Black-owned businesses were also less likely to receive Paycheck Protection Program (PPP) loans and more likely to face disparities in loan sizes, prompting the creation of the #Oakland Restorative Loan Fund.  Through the $2.5 million Oakland Fund, Pacific Community Ventures (PCV) aimed to address the barriers to capital access and provide small business owners with 0%, no fee loans. They supported 37 local small business owners, all of whom identify as Black, Indigenous, or Persons of Color (BIPOC), with loans averaging $68,000. Now, PCV hopes the model will be replicated and scaled across the U.S.  Want to learn how to bring this model to your community? Check out the Oakland Restorative Loan Fund playbook, where you’ll find best practices, resources, and the story of how the 0% Oakland Fund was created: https://lnkd.in/gFcN99CA #Entrepreneurship

When choosing what kind (or kinds) of financing is right for your business, it’s important to consider the stage of your company, size of your market, projected pace of growth, how you'll use the funds and your business’ profitability. While many banks provide small business loans, there are other lenders that are more flexible when it comes to young companies. Top tip: research your funding options before you're desperate for capital. Read more on tips for CDFI loans, crowdfunding and other alternative financing and capital methods for small businesses: https://lnkd.in/eTpg2niH