A good source, besides your local business telephone directory, for finding information about banks is the U.S. Small Business Administration. Programs like the SBA's Guaranteed Loan Program reduce the risk to the lender by guaranteeing some or all of a loan for a fee. These organizations typically apply more flexible lending criteria than do banks and other conventional lenders. They are more likely to loans to startups and to accept non-traditional forms of collateral. These institutions have special programs for minorities and women and those in under-served neighborhoods.
Loan amounts vary.
These funds offer seed and growth capital to firms with high growth potential in exchange for equity participation or high interest. Some are targeted to particular industries. Grants Grants are given for a variety of uses, from commercial revitalization projects and storefront renovation to security improvement. These funds are often offered by local development corporations in the city. Minority and Women-Owned Business Certifications Agencies certifying eligible businesses as minority or women owned for government contracting and other purposes.