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(CDC or 504 loan) programs. SBICs do assist with start-up funding and CDCs focus on long-term financing of fixed assets, such as real estate and buildings. The SBA website provides extensive information on all their various lending programs, including short-term microloans, as well as other useful information for small business owners. Most states also have their own Economic Development Agencies. These agencies offer a variety of programs to small businesses within their states. They are particularly interested in supporting companies that employ locally. These agencies are often a good source of microloan funding for start-ups that find it difficult to obtain capital. You can find a link to your state’s economic development agency through the SBA website.
development specifically geared to those in the arts community. Non-governmental third-party resources, such as incubators and small business loan brokers, should also be considered. Business incubators provide a temporary environment to start-up businesses until they are financially viable. Incubators are predominantly seen in the light manufacturing, service and technology industries, and screen businesses for acceptance. They offer potential access to capital, shared business services, networking opportunities, and rental costs usually below market rates. The National Business Incubation Asso-
ciation can direct you to an incubator in your area if this is an option. Multifunding is a legitimate broker that works with small businesses to identify and obtain loans. They only receive payment if a loan option is accepted by the small business, and sometimes the lender pays that fee. It may seem frustrating trying to find the money to get your idea off the ground. But just know that many fast-growing businesses started with a few thousand dollars, a credit card and a dream. Having a better understanding of your financing options and the numerous resources available to assist you should help once you’re ready to take your leap.
There are additional financing resources available to minority and women owned small businesses as well. The National Bankers Association represents minority owned banks that target loans to minority owned businesses. The SBA can also direct you to specific resources dedicated to women and minority owned businesses. The U.S. Department of Commerce’s Minority Business Development Agency is an additional resource. For all of our artist friends out there, the Craft Emergency Relief Fund (CERF+) is an excellent organization providing emergency funds to craft artists who’ve suffered a careerthreatening emergency. But, much more than just emergency funding they maintain an Artist’s Career Resource Center that has information on loan programs and business
Epidemic Skateshop featured in Show Pony Magazine Issue 1.