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By Milt Wright and Anita Lee Wright
Milt Wright & Associates

Resources Needed to Start Your Own Business Cont.

The Small Business Administration (SBA) Business Loan Program
http://www.sba.gov/index.html

The Microloan Demonstration Program addresses the financing needs of start-up and existing businesses located in Los Angeles, Ventura and Santa Barbara counties with short-term financing from $500 to $35,000.

For more information or to receive an application on the Microloan Demonstration Program, please contact one of the intermediaries listed below.

Serving Los Angeles & Ventura Counties:

Valley Economic Development Center
5121 Van Nuys Blvd., 3rd Floor
Van Nuys, CA 91403-2100
(818) 907-9977

FAME Renaissance Center
1968 West Adams Blvd.
Los Angeles, CA
90018(323) 730-7700 ext. 5030

Serving Los Angeles County:

Pacific Coast Regional Small Business Development Corporation
3255 Wilshire Boulevard, Suite 1501
Los Angeles, CA 90010
(213) 739-2999 ext. 222

The traditional 7(a) SBA Loan may be used for most business purposes including start-up, expansion, equipment purchases, working capital, inventory or real estate acquisition. This is the hardest to get of all the government sponsored loans for small business. The SBA can guarantee up to $750,000 of a private-sector loan. Interest rates for 7(a) loans are negotiated between the applicant and the lender. http://www.sba.gov/financing/sbaloan/snapshot.html

Small Business Innovation Research (SBIR) Program – Under the Small Business Innovation Research (SBIR) program, 10 federal agencies having annual external research and development requirements of more than $100,000,000 ($100 million), must reserve 2.5% of these funds for award to small businesses.

Small Business Technology Transfer (STTR) Program – Under the Small Business Technology Transfer (STTR) program, five agencies with annual external research and development budgets of more than ($1,000,000,000) $1 billion, must reserve .15% of these funds for award to collaborative efforts between small businesses and non-profit research institutions.
http://www.sba.gov/

*The Build WorkSource web site provides material on topics of interest to businesses. It is not intended as legal advice or to answer specific legal or employment problems. The information presented in the Build WorkSource web site is from many sources therefore there can be no warranty or responsibility as to the accuracy, originality or completeness. Build WorkSource is not engaged in rendering legal or other professional counsel.

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