Small Business Guide - Welcome to Alabama A&M University

S m a l l B u s i n e s s H a n d b o o k f o r N o r t h A l a b a m aIII) FinancingHow to Finance Your BusinessFederal, state and local governments offer a wide range of financingprograms to help small businesses start and grow their operations.These programs include guaranteed low-interest loans, venture capital,and scientific and economic development grants. The followingwebsite provides a listing of financing programs for which a businessmay qualify: http://search.business.gov/startLoans.htmlThe SBA 7(a) and 504 loan programs provide financial assistance forstart-up companies. These loan programs provide guarantees toqualified small businesses that may otherwise not qualify for theloans through normal lending channels without the government'sguaranty. The vast majority of small businesses are eligible to qualifyfor these loans provided they:• Intend to operate for a profit• They are engaged or plan to engage in business within the UnitedStates or its possessions• Have some owner equity of their own to invest in the business• Look to alternative funding methods first - such as personal assets,Access the following website for more information about the7(a) Loan Programhttp://www.sba.gov/financialassistance/borrowers/guaranteed/A quick reference to various SBA Loan Guaranty Programs is providedon the next two pages.14