On July 28, the Small Business Majority launched the Small Business Access to Capital Resource Portal to help small businesses and entrepreneurs explore options for securing funding. The resource aims to connect small businesses with financial experts, organizations, and information to help them get the capital they need for their small business’ start-up, survival, and growth.
“For entrepreneurs, getting a loan could mean the difference between success and failure, whether it’s used for renovation, purchasing equipment, or working capital,” said Rhea Aguinaldo, Small Business Majority’s manager of entrepreneurship. “Securing funding might feel like an uphill battle, but the truth is there are more funding options than ever before. Our new resource portal outlines these funding options and provides entrepreneurs with the tools they need to make the best decisions for their small business.”
In a Small Business Majority poll, 90 percent of small business owners identified the inability to access sufficient credit and capital as a problem.
The resource portal is the first step in the Small Business Majority’s Entrepreneurship program, which is being rolled out over the next 12 months. The program will also feature in-person seminars and online webinars.
The portal provides an overview of potential funding options for small businesses, including the U.S. Small Business Administration’s loan programs, community banks and credit unions, microloans, crowdfunding, and alternative online lenders. It also provides information on how to connect with reputable agencies and organizations that can help entrepreneurs navigate the funding landscape, and it addresses the unique problems faced by women and minority-owned businesses that are seeking capital.