5 Federal Programs to Support Small Business

There are several federal programs today that serve to help small businesses in accessing and performing government contracts. In fact, when it comes to  government marketing, these business programs of the government helps to a large extent. Some government programs are designed to assist small businesses in general or give an impetus to entrepreneurs for starting and expanding business and others that are targeted at specific categories of small businesses specifically run by women, minority-owned as well as veteran-owned businesses.



Does the Government Provide Grants

Although the federal and state governments do not necessarily provide grants for starting and expanding small businesses, the U.S. government offers a wide array of low-interest loans and venture capital financing programs to help entrepreneurs start and grow their businesses. Moreover, some federal and state agencies also give a limited number of grants for very specialized business activities such as scientific research and development. While these are not exactly the part of government marketing, they certainly help you grow your strategy for business.

Following are a list of such government programs to promote small businesses:

SBA Loans

The U.S. Small Business Administration is a federal agency and the single largest financial backer for the country's small businesses operations. In recognition of the fact that small businesses are critical to the growth and stability of the economy of any nation, its aim is to counsel, aid, assist and protect the interest of such businesses and maintain a free competitive enterprise thereby strengthening and building the future of the country. It includes a portfolio of business loans, loan guarantees, training and educational programs, advisory services, publications, financial programs, contract assistance as well as disaster management loans.

 SBA is not  basically a lender and does not offer business loans. It is in fact a guarantor of loans made by privately owned banks and other financial institutions that agree to follow SBA's guidelines. To apply for an SBA loan, you first need to go through a local participating bank or financial institution. The loan application is like applying for a commercial loan, structured according to SBA requirements, which receives an SBA guaranty.

USDA Loans

If you own a farm and earn an income through agricultural means, the U.S. Department of Agriculture (USDA) has a Business and Industry (B&I) Guaranteed Loan Program that works in a similar manner as SBA loans. The USDA provides guarantees of up to 80% of a loan made by a commercial lender and the loan proceeds can be used for working capital, purchase of machinery and equipment, buildings and real estate as well as some kinds of debt refinancing. Similar to an SBA loan you are required to go through your local bank or financial institution to apply for a B&I loan. Keep in mind that agricultural produces comprise a significant part of the government marketing contracts.



Small Business Investment Companies (SBIC)

These were specially created to help small companies to raise capital. The eligibility criterion for SBIC financing requires that your business meet certain SBA size specifications like having a net worth of $18 million or less, and after tax income on an average should not have exceeded $6 million in the past two years. When applying for an SBIC, you must present a viable business plan that includes your company operation, management, financial status and funding requirements.

New Markets Venture Capital (NMVC) financing

If your business is located in a low-income geographic area, you may be eligible for NMVC financing typically modeled after the SBIC program. It makes equity investments in small businesses located in economically distressed communities in both, urban and rural areas.

Active Capital

Active Capital is a nationwide listing service, which provides a platform for the entrepreneurs, so that they can connect with angel investors keeping in terms with the federal and state securities regulations. Potential investors can obtain information on new and entrepreneurial as well as expanding small businesses seeking $250,000 to $5,000,000 in venture capital. This is certainly a top-notch government marketing strategy as it helps businesses reach out to the federal buyers in a streamlined manner.

Location: 10050 Norbotten Dr, Florence, KY 41042, USA

Comments

Post a Comment

Popular posts from this blog

Connection and Procurement on Government Marketing Process

Image
The single most prominent buyer of item and experiences in the United States is the public power. In this action, you'll find a few solutions concerning the public authority advancing and the getting reasoning used on government marketing strategy . We'll in like way address the conversation framework.  What Is Government Marketing? Government displaying advance is where the customers are managerial, state, and neighborhood governments. Governments buy the two things and undertakings from the private district. Governments purchase indistinguishable sorts of things and associations from private district customers, in any case some certainly distinctive things, for example, plane passing on warships, military aircraft, tanks, spy satellites, and atomic weapons. A making plan in the previous numerous years has been the re-appropriating of standard resident with  driven relationship to private firms, for example, detainment facilities. Obtaining on Government Advancing The
Read more

How Government Marketing Can Actually Effect Small Business

Image
Marketing is a critical component of any successful business, and this is especially true for small businesses. The United States government recognizes the importance of marketing for small businesses and has implemented various programs and initiatives to support small business marketing efforts. In this article, we will explore the broad effects of government marketing on small businesses in the United States. One of the most significant benefits of government marketing initiatives is increased visibility for small businesses. The government promotes small businesses through various channels, including trade shows, government websites, and social media. These efforts help small businesses reach a wider audience and attract new customers. Additionally, the government also provides small businesses with access to marketing resources, such as training programs, webinars, and workshops, which can help them develop and refine their marketing strategies. Another significant effect of gove
Read more

Things you should know about sdvosb certification

Image
Presently, as an administration temporary worker, it's not out of the question that you get your bit of the pie. Here are five things you should think about the administration's contracting programs for veteran-possessed independent companies and administration impaired veteran-claimed private ventures: What is a veteran-claimed private venture with sdvosb certification? As its name suggests, a veteran-possessed private company (or VOSB, in government-contracting talk) is an independent venture that is in any event 51% genuinely claimed and constrained by a veteran. A help crippled veteran-possessed private venture (SDVOSB) is an independent company that is 51% unequivocally claimed and constrained by an assistance debilitated veteran for sdvosb certification. These definitions sound generally basic from the outset become flushed, however there are numerous subtleties in the law. Because a little is 51% possessed by a veteran doesn't really make it a SDVOSB or VOSB
Read more