yankee remodeler third lake adding onto a brick home barrington modular home remodel .. Chicago Drug testing

How to Find a Microenterprise Loan for Your Business

If you're looking for start-up capital for your business, but you don't have the credit, collateral or background needed by your bank to get a business loan, then microenterprise might be your best bet.

Microenterprise Development programs have been around since the 1970s. They were created as a way of helping people who couldn't access traditional methods of credit, either because they were too poor, or the amount of money they needed was too small for a bank to be interested.

In the United States, there are over 500 Microenterprise programs designed to help low to moderate income entrepreneurs. In fact, if you have bad credit, no credit and no collateral, you can probably find a microenterprise loan fund in your state, city or town.

What do microenterprise loan programs do?

They provide a variety of financial and business services to entrepreneurs. Some programs provide free or low-cost business classes that will walk you through the process of writing a business plan. Other provide counseling, to help you manage your debt, and understand and use financial planning software. Still others offer business mentors. Most Microenterprise loans have some type of networking program, where you can build relationships with other business people.

How much money can you borrow?

Loan amounts vary from $500 to $25,000. Interest rates are at or below prime, and you don't need to have a lot of collateral or excellent credit in order to apply. In some programs, you can qualify for a smaller loan fairly easily, and then, once it has been repaid, apply for a larger loan. This helps to build your business credit, and insures that you don't over-extend yourself.

What is a microbusiness?

A microbusiness is defined as any business:

that can be started for less than $35,000 has five or less employees has a revenue of less than $100,000 a year What types of businesses qualify for a microenterprise loan?

Traditional businesses such as:

*small specialty shops like hobby shops, florists and gift shops

*small engine or auto repair shops

*bakeries, cafes and sandwich shops

*beauty parlors and barber shops

*arts and craft stores, ceramic shops and art galleries

Non-traditional businesses such as:

*massage therapists, acupuncturists, hypno-therapists

*business, life and relationship coaches

*soap and essential oil manufacturers

*artists, painters and jewelry makers

*doggie daycare owners, mobile beauty shops and in-home computer repair

Where can you find a program in your area?

One of the biggest problems with finding a microenterprise loan program is that they are often not very well advertised, and may not even be called a "microenterprise development program" so unless you know where to look it can be frustrating. Here are some ideas to get you started:

*The Small Business Adminisration

*Your local Chamber of Commerce or Economic Development Agency

*Small Business Development Center in your area

*Your bank or credit union

*Women's organizations, business support groups

*http://www.microenterprisesuccess.com -- you can find free microenterprise resources indexed by state here

The main thing to remember is that if you're really serious about starting your own business, there are resources available to help you, so don't give up!

Cheryl Antier is the President of Dream Weaver Enterprises, a business and fundraising consulting company. MAPS (Microenterprise Answers to your Personal Success)is a membership organization that helps women to start, grow and succeed in small business ownership. Find free resources indexed by state, learn about grants and small business programs by signing up for our free newsletter at http://www.microenterprisesuccess.com

In The News:

The wreck of a World War I German battlecruiser has been discovered off the Falkland Islands.
The remains of a Viking ship have been discovered on a farm near a medieval church at Edøy, on the island of Smøla, in Norway. 
For the very first time, scientists have found evidence of a giant planet associated with a white dwarf star.
The amount of microplastic in the world's oceans is a million times greater than previously thought, according to alarming new research.
An electric eel named Miguel Wattson is shocking visitors at the Tennessee Aquarium by using its blips of electricity to power Christmas tree lights. 
A secret "covert" Catholic church built more than 300 years ago has been discovered in Dublin, Ireland.
The name of a missing Soviet spy which was hidden from the public for the past 70 years has just been revealed.
A photographer has captured remarkable pictures of a polar bear appearing to do a number of yoga poses in the Arctic.
Saturn's largest moon, Titan, has several odd weather patterns, including multi-decade polar vortexes and dust storms. A new study has revealed there is a significant difference in the amount of solar energy it absorbs and the thermal energy it emits during its seasons, which could give researchers new insights into our own climate.
Look closely at the serpent constellation slithering through the northern sky, and you might see a galaxy within a galaxy within a galaxy.

The More you GIVE the More you GET

Why give freebies?We have all seen freebies at trade shows... Read More

QSR Quick Service - Fast Food Restaurants Labor Situation in United States

One of the major complaints in the QSR Quick Service-Fast... Read More

Small Business Franchise Opportunities

Many businesses offer small business franchise opportunities. There are many... Read More

New Habits, Rebounding Economy Help To Sell Giftware and Collectibles

Just a few years ago, when one thought of a... Read More

13 Steps to Protect Yourself from Your Bank

The success of your business is critically dependent on how... Read More

Franchising Industry Burdened in Over Regulation

There were only an estimated 1800 active franchisors in this... Read More

Want to Grow Your Business? Make an Irresistible Offer

My clients and many of my readers are small and... Read More

Share Ad Expenses to Boost Profits

The challenges of the small business owner are well documented.... Read More

Common Sources of Financing for Small Business

The choice of financing is an important determinant of whether... Read More

Lack of Vigilance Can Harm the Bottom Line

The easiest way to lift profits is to cut the... Read More

Accounting and Billing Procedures for Small Business

No matter how small your small business is, it is... Read More

In Home Daycare Businesses for Profit

To have one of the popular in home daycare businesses.... Read More

10 Cardinal Rules for Business Growth

After over 30 years of participating in hundreds of businesses,... Read More

Franchising and Royalty Payments

If you are thinking of turning your current into a... Read More

How To Build Business Credit

Having their own business is something many millions of people... Read More

How to Start an Office Support Service

Office support services can range from basic data entry to... Read More

The Game Plan ? The Difference Between Small Business Success And Failure

It is an American dream to own a business. But... Read More

A Look at Small Business Incorporating in Florida

The choice to incorporate a small business in Florida has... Read More

Understanding Franchise Releationships in a Franchised Business

Now that you have invested your time, energy and money... Read More

Chamber Membership will BOOST your Business

When is the Chamber ideal for your business?Joining a Chamber... Read More

Small Business Survival

In today's economic climate, the first priority for the small... Read More

Detailing Business Options

So you want to get into the auto detailing business... Read More

Reduce Stress, Increase Profits By Incorporating Strategic Systems In Your Small Business Success

Whether you are an Entrepreneur or Business Professional there are... Read More

How to Profile a Client

At first glance, this topic may seem a little repetitive,... Read More

Small Business Failures in America - Cash Flow Issues

We are noticing an increase in the length of time... Read More

1960s house facelift bathroom conversions ..