South Carolina Business Resource Guide
The South Carolina Business Resource Guide is designed to provide all types of businesses with tools and resources-including access to a variety of state, regional and local outlets-to increase their opportunity for business success. Get information on Getting Started, Licenses, Permits & Regulations, Financing, Marketing & Growing Your Business, Workforce Development, Business Operations, Local Resources, Additional Resources and Frequently Asked Questions. To download the FREE guide, CLICK HERE!
Whether you’re just starting a small business or expanding to take advantage of new opportunities, your business needs the right financing at the right time in order to succeed. SBA is committed to helping small businesses, which are the backbone of the nation’s economy, thrive. Working closely with a wide range of lending partners across the country, SBA has developed a number of financial programs that address the various needs of small businesses.
How to Raise Money for a Small Business
Raising capital is the most basic of all business activities, but it may not be easy; in fact, it is often a complex and frustrating process. However, if you have studied and planned effectively, raising money for your business will go as smoothly as possible. The SBA delves into the particulars of how a small business can raise money and how to apply for a loan. This financing resource walks you through a loan process and provides you with insight into how a lender will review your proposal.
In recognition of the importance of small business to a strong economy, the National Business Association (NBA) has developed First Step Review to help meet the informational needs of existing business owners and aspiring entrepreneurs. First Step is a screening tool to help smaller businesses (with less than 100 employees and annual sales of less than $5 million) determine the likelihood of success in gaining a guaranteed loan. If you gain a score of 70 or more on First Step, then the next step would be to find a lender who is SBA certified loans.
Business USA helps small businesses understand their legal requirements, and locate government services supporting the nation’s small business community. Business USA guides you through the maze of government rules and regulations and provides access to services and resources to help you start, grow, and succeed in business.
Over a decade ago our Nation’s economy took a turn for the worst. Thousands of small, medium and large businesses began to face financial difficulties, sending them in search for funding. While many businesses failed due to the economic downturn, others were able to survive and succeed with thanks to nontraditional financing options, such as Factoring. With traditional banks and lending institutions tightening their requirements the average or less than perfect businesses are unable to get the funding they need to succeed. Factoring has taken away the fear of denial, offering funding to nearly all businesses.