Resources for Business in America 2016

Entrepreneurs and business owners want answers and they want them fast. That is why we have assembled this list of resources for you to find the information you need to grow, succeed and create jobs. Send us an email at whbc@who.eop.gov if there is anything you can’t find.

Programs & Initiatives for You

SBA Direct

SBA Direct is a new dynamic Web tool that allows users to personalize their experience on SBA.gov. Just by answering a few simple questions about your business, SBA Direct brings the targeted resources you need to start, operate and grow your small business – directly to your desktop.

SBA Direct: http://www.sba.gov/sba-direct/

Startup America

This interagency initiative connects entrepreneurs with successful businesses, opens up $2 billion in seed capital for emerging companies in fields of strategic importance, such as clean energy, and aims to simplify tax policy. Startup businesses may be interested in applying for new sources of Small Business Administration (SBA) funding.

SBA Startup America: www.sba.gov/startupamerica

Private Startup America Partnership: www.startupamericapartnership.org

Resources for Business in America 2016

Tax Breaks and Incentives for Small Businesses

The Administration is committed to providing small businesses support through tax breaks and incentives for investment and growth. To date, the Administration has supported seventeen direct tax breaks for small businesses.

Learn More: www.sba.gov/content/fact-sheet-tax-breaks-small-businesses

Resources You Can Use

Counselors to America’s Small Business(SCORE)

SCOREhas over 11,000 volunteers that bring practical experience to small businesses and to entrepreneurs thinking about starting a new small business. For example, SCORE offers an online service called “Ask SCORE”. This tool allows small business owners to enter a business topic, choose a mentor from a list who best matches the business’s needs, and send him/her questions. The service guarantees a reply within 48 hours. SCORE is a Resource Partner with the SBA.

Home Page: www.score.org

Emerging Leaders

Small Business Administration (SBA)

The Emerging Leaders initiative identifies small businesses that show a high potential for growth and, providing provides them with the network and resources required to build a sustainable business and promote the economic development. This initiative will enable the participating small businesses to engage in an intensive curriculum focused on developing a winning, expansion strategy for their business, including options for capital access and contracting. Participants also will have the opportunity to work with experienced mentors, attend workshops and develop connections with their peers, city leaders, and financial community.

Learn More: www.sba.gov/e200

Expanded SBA Loan Sizes

Small Business Administration (SBA)

The Small Business Jobs Act increased the maximum 7(a) loan size from $2 million to $5 million and increased the maximum 504 loan size from $2 million to $5 million for regular projects and from $4 million to $5.5 million for manufacturing projects, and increased the maximum microloan size to $50,000. 7(a) loans may be used to establish a new business or to assist in the acquisition, operation, or expansion of an existing business. Proceeds from 504 loans must be used for fixed asset projects and cannot be used for working capital or inventory, consolidating or repaying debt, or refinancing.

Find Loans and Grants: www.sba.gov/financing

Know Your Region

Economic Development Administration (EDA) and National Association of Development Organizations (NADO)

The Department of Commerce’s EDA and the NADO Research Foundation have teamed up to deliver a library of information to help local officials, economic development practitioners, community leaders and citizens assess local and regional assets, needs, and visions in a global context, in order to achieve long-term regional prosperity and sustainability. For an example of these resources, take a look at the CEDS Regional Innovation Forum.

Learn More: www.knowyourregion.org

Mentor-Protégé Program

General Services Administration (GSA)

GSA’s mentor-protégé program fosters long-term relationships between GSA prime contractors and small businesses to enhance protégés’ capability to win and perform successfully on GSA contracts and subcontracts. The new mentor-protégé program has already helped boost small businesses across the country with 55 agreements in place, including 31 with service-disabled veteran owned small businesses. GSA plans to augment this program in FY 2011 with a tailored workshop series.

Learn More: www.gsa.gov/mentorprotege

Measuring Where You Are: Distress Index

Economic Development Administration (EDA), U.S. Department of Commerce (DOC)

This tool provides practitioners a fast, simple way to calculate whether a county, region, or neighborhood may meet grant thresholds for unemployment and income.

Tool Box: www.statsamerica.org/distress

Projecting Where You Could Be: Capacity & Innovation Index

Economic Development Administration (EDA), U.S. Department of Commerce (DOC)

The tool provides practitioners a method of assessing the innovation capacity of their region using data from four areas: human capital, economic dynamics, productivity and employment, and economic well‐being.

Tool Box: www.statsamerica.org/innovation

Regional Innovation Assets Toolkit

Economic Development Administration (EDA), U.S. Department of Commerce (DOC)

The EDA’s Regional Innovation Asset Toolkit is designed to help policy makers and citizens assess and improve the innovation capacity of their region by providing the most up-to-date information available on a variety of innovation assets

Tool Box: rrigis.rri.wvu.edu/

Regional Project Evaluation Tool

Economic Development Administration (EDA), U.S. Department of Commerce (DOC)

This tool, created by the W.E Upjohn Institute for Employment Research, provides qualitative and quantitative analysis of a project to help economic development practitioners determine its likelihood of success in a given region.

Tool Box: www.eda.gov/Research/ToolsOfTrade.xml

Small Business Development Centers (SBDCs)

Small Business Administration (SBA)

SBDCsprovide free or low-cost assistance to small businesses using programs customized to local conditions. There are more than 900 SBDCs with at least one in every state and territory.

Learn More: www.sba.gov/sbdc

Locations: www.asbdc-us.org

Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs

The SBIR program provides early funding technology companies to take research from the lab to the marketplace. SBIR represents the single largest early stage investment tool in the government, providing approximately $2.5 billion annually to small businesses. Phase I awards $150,000 for approximately six months to explore the technical merit or viability of an idea or technology. Phase II awards up to $1,000,000 for as many as two years in order to commercialize Phase I results. Each agency has its own SBIR program but the general program is coordinated by the SBA.

Learn More: www.sbir.gov

Veterans Business Outreach Program (VBOP)

Small Business Administration (SBA)

VBOP is designed to provide entrepreneurial development services such as business training, counseling and mentoring, and referrals for eligible veterans owning or considering starting a small business.

Learn More: www.sba.gov/veterans

Women’s Business Centers (WBCs)

Small Business Administration (SBA)

WBC is a large network throughout the United States, offering women entrepreneurs, especially those that are socially or economically disadvantaged, comprehensive training and counseling to help them start and grow their own business.

Learn More: www.sba.gov/women

Other Ways the Administration Grows Small Businesses

Rural Business Service (RBS) Business and Industry (B&I) Guaranteed Lending Program

U.S. Department of Agriculture (USDA)

Learn More: www.rurdev.usda.gov/rbs/

State Small Business Credit Initiative (SSBCI)

U.S. Department of Treasury

The SSBCI was established by the Small Business Jobs Act to help spur up to $15 billion in lending by strengthening innovative state programs that support private sector lending to small businesses, including collateral support programs, Capital Access Programs (CAPs) and loan guarantee programs. In order to access SSBCI funds, small businesses should apply to their state’s lending program.

Learn More: www.treasury.gov/osdbu

Subscribe to SSBCI Conference Calls: SSBCIQuestions@treasury.gov

Small Business Lending Fund (SBLF)

U.S. Department of Treasury

To stimulate small business lending, the SBLF, administered by the Department of Treasury, is authorized to provide up to $30 billion in capital to qualified community banks and other targeted lenders with assets of less than $10 billion. In order to incentivize lending to small businesses, the SBLF is structured so that the price a bank pays for SBLF funding will be reduced as the bank’s small business lending increases. To access these benefits, small businesses should apply to banks participating in the SBLF. Treasury recently began accepting applications and all SBLF investments will be completed by September 27, 2011. To date, Treasury has received applications from over 250 institutions totaling more than $4 billion in funds requested. Treasury expects to complete initial fundings under the program in the first quarter, and will continue thereafter to fund institutions on a rolling basis.

Learn More: www.treasury.gov/osdbu

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