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SBA Loans and Start-Up Business

You have just accepted a job at the State of Iowa in the Department of Human Resources - you are now the Director of HR for the State of Iowa. A large portion of your new role is to assist the small business owners located throughout the State of Iowa in applying for their small business loans so they can meet the tough standards of the State of Iowa as it relates to Human Resource Services. In order to accomplish this task properly, you have determined that you must become the Subject Matter Expert (SME) on this topic. Your Manager is in full support but is requiring a detailed plan on how you will accomplish this task with time lines. Because you are a 21st Century Entrepreneurial Leader, detail for the class what will you do and how will you accomplish this task?

You are expanding your current business. You plan I entering and conquering the large business population in your area and this means that your business is going to grow expediently in 2015. In order to accomplish this and be as successful as you can, you have realized that you need additional equipment - a lot of additional equipment, mowers, blowers, riding tractors, trimmers, trailers, trucks, plows, hand tools, snow blowers, shovels - the list goes on-and-on. What type of a loan might you go after that would assist you as a 21st Century Entrepreneurial Leader such as yourself?

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Questions

Concerning SBA are there loans available for women and/or minorities? If so what are they and how does one...

> The Small Business Association (SBA) does not provide 'direct' loans for women and/or minorities, but they facilitate resources, such as:

* Federal Loan Guarantee Programs [SBA is a loan guarantor]
* Community Business Development Programs [Minority Business Development Agency (MBDA)]
* The SBA's 8(a) Business Development program says they, "can help qualifying minority-owned firms develop and grow their businesses through one-to-one counseling, training workshops, and management and technical guidance. The program also provides access to government contracting opportunities, allowing these businesses to become solid competitors in the federal marketplace."
SEE: http://www.sba.gov/content/minority-owned-businesses

* Plus, there are Loans & Grants Search Tools - SEE: ...

Solution Summary

This solution discusses SBA loans and start-up business in the state of Iowa.

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