In 2022, Small Business Majority, in partnership with Support Latino Business and Modern Woodmen Fraternal Financial, awarded critical funding to three Latina business owners through their annual #SupportSmallBiz grant program. The grant program bridges the gap in small business funding for Hispanic and Latino businesses, which often face challenges and systemic barriers in getting the capital and resources they need to start, grow and expand their enterprises.
In the United States, nearly 1 in 4 new businesses is Hispanic- or Latino-owned. And while they make up almost 10% of all businesses in the country, these businesses also faced the brunt of revenue loss and business closures during the COVID-19 pandemic. Below you’ll find grant and loan programs that are working to increase access to capital for Latino and Hispanic businesses.
The U.S. Small Business Administration (SBA) has recently made significant changes to their small business loan programs to help level the playing field and boost access to credit for smaller businesses. Read below for more information about those changes and what you can expect.
With new technologies emerging at a rapid pace, it’s more important than ever for business owners to stay abreast of new strategies and platforms that can help their businesses grow.
It all starts with search. You’re searching for your small business on Google to see how easy it is for your customers to find your business. You get organic search results, with paid ads right up top–but you can’t see your business listing or it ranks down below on the search results?
Read on to find out how you can use Google’s tools and resources to promote your small business online and improve your discoverability.
The U.S. Small Business Administration (SBA) is providing additional measures to accommodate COVID Economic Injury Disaster Loan (EIDL) borrowers who are experiencing short-term financial difficulties. The program, known as the Hardship Accommodation Plan, allows eligible borrowers to make reduced loan payments for six months. However, it’s important to note that interest on these loans will continue to accrue, which may increase or create a balloon payment at the end of the loan term.
In addition,
Bookkeeping is an essential process for small businesses. Keeping detailed information about income, expenses and investments can help entrepreneurs understand their finances better, make informed decisions, and effectively manage operations and expectations for the future.
Learn six tips to do start bookkeeping for you small business.
Whether you are a seasoned business owner or a first-time entrepreneur, it’s never too early to consider approaches to building long-term wealth through your small business. Although there are many tactics to achieving financial security and building wealth, here are some key strategies for small business owners to consider.
Small businesses are looking for ways to stay competitive in the new digital economy, especially as they continue to face challenges exacerbated by the COVID-19 pandemic.
Small business owners know that one of the greatest barriers to success is a lack of access to capital. For Black business owners, this challenge is heightened, with large banks approving just 29% of loans sought by Black-owned small businesses compared to 60% of loans sought by white-owned small businesses. This is why it is critical that Black-owned small businesses are supported in order to build an equitable economy. In honor of Black History Month, we have compiled a list of funding and business assistance opportunities geared toward Black entrepreneurs.
