Financing Start-Ups

Every entrepreneur would like to know where and who can financially assist them in their business venture(s). The traditional ways of receiving financial assistance is very hard and seems not to work for me. Where can I get a break and do I present opportunities that my community and investor can benefit? I researched a couple of sites that can answer these inquiries and more.

Cfed, expanding economic opportunity, found at website http://cfed.org/, offers a program called Self-Employment Tax Initiative (SETI). "SETI is a small business development strategy that takes advantage of the tax code to help low-income, self-employed individuals formalize and grow their businesses, create jobs and access tax-based asset-building opportunities." The program awards grants to community-based organizations that provides free and/or affordable tax preparation assistance to low-income and self-employed individuals. One of their goals it to grow and expand micro businesses and creating jobs. To receive and view cfed's latest event, join their blog at http://cfed.org/blog/inclusiveeconomy/.

CDFI Coalition, found at website, "is the unified voice of community development financial institutions. They encourage fair access to financial resources for America's underserved people and communities by providing credit, capital, and financial services that are often unavailable from mainstream financial institutions." Below are three components of the CDFIs Fund Award Program:
* Financial Assistance Component - introduced a Small and Emerging CDFI (SECA), those who have small assets and who have been in business for less than three years
* Technical Assistance (TA) Component - provides TA grants to CDFIs
* Native American CDFI Assistance Component (NACA) - serves the Native American communities with financial and technical assistance grants

Other Programs:
* Bank Enterprise Award (BEA) Program - provides cash incentives for banks and thrifts to invest in CDFIs, increase financial services, lending, and investments in underserved communities
* New Market Tax Credit (NMTC) Program - designed to bring in $15 billion f private sector equity investments in low-income communities by financing neighborhood retail stores, small businesses, charter schools, child care centers and other community facilities. The NMTC has a present value of approximately 39 percent, so the activities it finances will have to generate substantial economic benefits on their own to attract investors.

The types of CDFIs are Community Development Bank, Community Development Credit Union, Community Development Loan Fund, Community Development Venture Capital Fund, Microenterprise Development Loan Fund, and Community Development Corporations

Other websites to research for small business funding:
* http://www.oppotunityfinance.net/
* http://ww.microenterpriseworks.org/
* http://www.cdvca.org/
* http://www.ncif.org/
* http://www.natfed.org/i4/pages/index.cfm?pageid=1
* http://www.eda.gov/
* http://www.firstnations.org/default2.asp?id=69
* http://www.oweesta.org/