Small Business Administration (SBA) Microloan Lenders are a source of critical funding for new and expanding minority and female owned businesses. There are hundreds of different non-profits, banks, and lenders near you that will be able to provide some form of financial support as well as business coaching or technical assistance, which often is provided along with the microloan funds. Black, Latinos, Veterans, Asian, and female companies, including those with poor or no credit history, can turn to this program for financial help or free advice. Some of the lenders are associated with and recommended as well as certified by the SBA, and find them below.

SBA microloans for minority and female businesses

For Black, Latino, female and other disadvantaged entrepreneurs who believe they have a great idea for a new business or current business owners wanting to expand, the federal government founded Small Business Administration’s (SBA) microloan program is a popular source of funding. Created in 1992, the program funds loans from $500 to $50,000 and has proven especially important for businesses operated by women, veteran, minority and low-income owners. Most of the local and national lenders also give other support to the borrower, includes mentoring, business workshops, training, and more.

The average loan amount issued is around $14,000. In addition, as noted, the SBA program is a key source of capital for disadvantaged businesses. In fact, minority or female owned businesses receive on average about 48% of the microloans issued. The U.S. government states that in most years between 5,000 and 10,000 businesses (or startup companies) are helped by SBA microloans resulting in the creation or maintenance of tens of thousands of jobs.

Microloans are the most accessible type of SBA loan for disadvantaged Latinos, veteran, Black and women owned businesses. They are available to any for-profit small business and some non-profit daycare centers. Loans can be used as working capital and to purchase inventory, supplies, furniture, machinery and equipment. Or they can be used to pay for website development, marketing, and salaries. Loans cannot be used to buy real estate or to pay off existing debt.

SBA microloan lenders

The SBA microloan program provides an affordable source of capital for disadvantaged entrepreneurs (women, minorities, veterans) who are unable to obtain traditional bank loans or funding through other programs. Thousands of entrepreneurs as well as minority or female small business owners have used the funds from these lenders to open or expand companies that provide valuable jobs in local communities.

Assistance for borrowers with limited or no past credit or borrowing

The SBA microloans program has proven to be a valuable financing option for persons who have never borrowed from banks or who need smaller loans than many banks find it profitable to make. It can even help small businesses or entrepreneurs with no or lower credit scores. For sole proprietors (which the majority of Black-owned businesses are), freelancers and home business operators, microloans are particularly attractive.

The SBA does not directly loan funds to a female or minority entrepreneur or business. Rather, the Small Business Administration funds are distributed to a network of non-profit community organizations, Community development financial institutions lenders or banks across the country that have experience in lending to the disadvantaged and that also are effective at offering business management. These organizations, acting as intermediaries, review applications and, when approved, provide funds to the female or minority entrepreneur.

Amount of loan from Small Business Administration

While the SBA caps microloans at $50,000, the intermediary lender may set a lower limit. Interest rates can be negotiated with the lender but typically range between 6-13%. Some lenders may charge application, loan origination and late fees that increase the cost of the loan.

Repayment periods up to the SBA-mandated 6-year maximum can be negotiated with the lender based on a variety of factors that include the loan amount, planned use for the funds and needs of the business owner. There may even be more flexibility from black owned banks or non-profit lenders that focus on the disadvantaged – this is why this source of business funding is great for females and minorities. With low interest rates and long repayment periods, small business owners benefit by obtaining a monthly repayment schedule that reasonably matches business cash flow.

Eligibility and the SBA Loan Application Process

Microloans are designed for entrepreneurs who need less than $50,000 and who have generally good credit and a solid business plan. Most minority and female owned companies often need less than $50,000, and that is why an SBA lender should be looked into. However lenders near you may be flexible when it comes to credit ratings.

While the SBA sets broad criteria for lending funds, the Small Business Administration does not review applications for creditworthiness. Each lender has broad discretion to establish eligibility criteria and to determine whether to make the loans. Most lenders will require some form of collateral and a personal guarantee from business owners, whether female, male, minority or majority – it is often required. Collateral could include inventory, equipment and other business or personal property.

Most micro-lenders do not require borrowers to have excellent credit. In particular non-profits, CDFIs and charity lenders can make exceptions and provide cash to borrowers with bad credit.  Microloans were created, in part, to benefit people with a limited credit history or who are working to rebuild their creditworthiness. When dealing with borrowers with low credit scores, lenders will look for other strengths in the application such as current business revenues or the availability of collateral or a co-signer for the loan.

Loan applicants will have to submit a business plan. This document is particularly important for entrepreneurs hoping to launch a new venture. The goal of a business plan is to present a clear description of the products or services a business will offer. Find business plan tips for disadvantaged businesses.

Lenders must be convinced that there is great potential for business success. Yet the business plan needs to be realistic but show the “promise” of the business. It will need to show that the business will generate sufficient revenue to repay the loan. Business plans should include details about an owner’s background and management experience, a marketing strategy and financial projections for three to five years.

Other documents requested by the lender may include business and personal tax returns, personal financial statements and credit reports, business licenses, articles of incorporation and profit and loss statements. Or a black, Latino, Native American business may need to submit a MBE – minority owned business enterprise. Or females may submit a certified woman owned business enterprise (WBE) to the lender.

Loan applicants will often have to provide personal background details demonstrating good character. Or proof of gender or ethnicity if a minority applicant. A criminal conviction for a crime involving dishonesty such as fraud, theft or burglary may not be an automatic disqualifier, but it will likely make it more difficult to obtain the loan.

As a condition for receiving Small Business Administration loan funds, many micro-lenders require the borrower to receive on-going help, guidance and/or free coaching. They may require the minority or female owner to enroll in a business training or financial education program offered by the non-profit organization. Classes may focus on writing business plans, accounting, marketing strategy, SEO and management. The goal is to provide useful training and assistance to help small businesses succeed.

Finding a SBA minority and women approved microloan lender near you

There are hundreds of non-profit community-based organizations across the country that make SBA microloans to females, Black, LGBTQ, veterans, and other business owners as well as startup companies. The organization may represent a specific geographic region of the country or just a few counties with a state. Find a list of lenders near you to apply at.

The SBA maintains a list of micro-lending organizations. They are all approved for women and minority lending. It is also possible to get more information or referrals at a local SBA office or online at the SBA.gov website.

Once you have chosen an organization, the lending personnel will guide you through the process that can take several weeks or as long as several months. If immediate access to capital is required, options other than an SBA microloan should be pursued. As there are other charity microloans and banks that may assist minorities or women as well.  Or SBA certified microloan lenders are listed below.

Alabama

Community Enterprise Investments, Inc. , 302 North Barcelona Street, Pensacola, FL 32501. Call 850-595-6234
Sabre Finance is another Alabama lender. Note they are DBA VentureSouth. Address is 2 20th St North, Birmingham, AL 35203.

LiftFund, Inc covers Alabama. The main office is at 2007 W Martin Street, San Antonio, TX 78207. Phone 210-226-3664

Arizona

Prestamos CDFI, LLC has an address of 1024 East Buckeye Road, Suite 270, Phoenix, AZ 85034. For applications to a loan or other business services, dial 602-258-9911. They are a U.S. Small Business Administration certified SBA microloan provider for all of Arizona, with a focus on minority, veteran, immigrant, and female owned businesses.

Arkansas

Communities Unlimited is an SBA approved lender for Black, minority, veteran, and female businesses. The address is 3 East Colt Square Drive
Fayetteville, AR 72703. For applications dial 479-443-2700

Forge-Financing Ozarks Rural Growth and Economy – 4415 HWY, 412 Business, Huntsville, AR 72740. Telephone number is 501-738-1585

LiftFund, Inc. of Arkansas is served by 2007 W Martin Street, San Antonio, TX 78207, 210-226-3664

California

Pacific Asian Consortium In Employment is a major lender for the Asian community, but anyone can apply. The address is 1055 Wilshire Blvd., Suite 1475, Los Angeles, CA 90017. Call 213-989-3265. Many Asian owned businesses use them. Or find an Asian owned business directory.

AmPac Tri-State CDC, Inc. address is 22365 Baton Rd, Suite 210, Grand Terrace, CA 92313, 909-915-1706

Fresno Community Development Financial Institution (CDFI) address is 1920 Mariposa Mall, Suite 111, Fresno, CA 93721. Call 559-263-1045

California Coastal Rural Development Corporation – 221 Main Street Suite, Salinas, CA 93901

Southeast Asian Community Center is a non-profit SBA lender at 875 O’Farrell Street, San Francisco, CA 94109. Telephone 415-885-2743

Working Solutions CDFI – 930 Montgomery Street, Suite 400, San Francisco, CA 94133. Phone 415-644-5433. Get technical help, assistance on funding revenue or increasing sales, SBA lenders and other support.

Main Street Launch address is 2101 Webster Street, Suite 1200, Oakland, CA 94612. Telephone number is 510-763-4297. Many black and minority businesses in Alameda County get help. Register a company, form an LLC, or apply for low cost, certified SBA microloans.

Arcata Economic Development Corporation provides coaching, consultations, microloans, mentoring and more from 707 K Street
Eureka, CA 95501. Phone 707-822-4616.

Opening Doors, Inc. is based at 1111 Howe Ave., Suite 125, Sacramento, CA 95825. Telephone number is 916-492-2591.

California FarmLink address is 335 Spreckels Drive, Aptos, CA 95003.

CDC Small Business Finance Corporation provides loans applications in Spanish. Many Latinos, immigrants, and low income families use this lender. Address is 2448 Historic Decatur Road, Suite 200, San Diego, CA 92106. Call 619-291-3594.

Women’s Economic Ventures address is 333 S. Salinas Street, Santa Barbara, CA 93103. Phone 805-965-6073. Female entrepreneurs, black women, and others can get the funds they need for their idea or business. Find more on female owned businesses.

Mission Economic Development Agency has an address of 2301 Mission Street, Suite 301, San Francisco, CA 94110. Call 415-282-333

Colorado

Community Enterprise Development Services has an address of 1450 S. Havana St. #620, Aurora, CO 80012. Call the non-profit SBA lender at 303-569-8165.

Colorado Enterprise Fund has an office at 1888 Sherman Street, Suite 530, Denver, CO 80203. Get counseling, sign up for workshops, or apply for SBA microloans with variable interest rates. Dial 303-860-0242.

Region 10 LEAP for Economic Development, 300 North Cascade Street, Suite 1, Montrose, CO 81401. Telephone – 970-249-2436

Connecticut

Hartford Economic Development Corp. is in the state capital. Address is 15 Lewis Street, Suite 204, Hartford, CT 6103. Main phone 860-527-1301

Accion East, Inc. – 80 Maiden Lane, Suite 903, New York, NY 10038. Dial 212-387-0377

Community Capital New York, Inc. serves Connecticut small businesses that are minority or female owned from 44 Executive Blvd, Elmsford, NY 10523. Dial 914-747-8020

The Community Economic Development Fund Foundation, Inc., 965 East Main Street, Meriden, CT 6450. Phone 203-235-2333

Community Investment Corporation address is 2315 Whitney Avenue, Suite 2B, Hamden, CT 6518. Dial 203-776-6172

Delaware

Accion East, Inc. serves the state from 80 Maiden Lane, Suite 903, New York, NY 10038. Phone 212-387-0377

Finanta has an office at 1301 N. 2nd Street, Philadelphia, PA 19122. Phone 267-236-7005

First State Community Loan Fund is based in the state. Hundreds of loans, credit cards, and other borrowing programs are run. Address is 100 W. 10th Street, Suite 1005, Wilmington, DE 19801. For applications dial 302-656-1271

District of Columbia

Latino Economic Development Corp. is for Hispanic and Latino small to mid-sized business owners who need assistance or capital. The lender is at 1401 Columbia Rd., NW, Unit C-1, Washington, DC 20009. Dial 202-588-5102

Life Asset Inc., 2448A 18th Street NW, Washington, DC 20009

Washington Area Community Investment Fund, 2012 Rhode Island Ave, NE, Washington, DC 20018. For information on SBA microloans, dial 202-529-5505.

ECDC Enterprise Development Group is at 901 South Highland Street, Arlington, VA 22204. Phone 703-685-0510

The Washington Area Community Investment Fund – 2012 Rhode Island Ave, NE, Washington, DC 20018. For applications, intake, or customer service, call 202-529-5505

Florida

Community Enterprise Investments, Inc. is a non-profit based at 302 North Barcelona Street, Pensacola, FL 32501, dial 850-595-6234. This is a major military area, so a number of veteran startup companies and small businesses apply here.

Black Business Investment Fund Inc., Capital Plaza Two, 301 East Pine St., Suite 175, Orlando, FL 32801. Dial 407-649-4780

Partners for Self-Employment, Inc. Working Capital Florida is a regional non-profit. Address is 3000 Biscayne Blvd. Suite 215, Miami, FL 33137. Dial 305-438-1407

Georgia

Accion East, Inc. also covers Entrepreneurs and minority or women owned businesses in the state. They are based at 80 Maiden Lane, Suite 903, New York, NY 10038. Georgia residents can dial 212-387-0377 for information.

Access to Capital for Entrepreneurs focuses on small borrowers in Georgia. Most of the SBA microloans may be for a few hundred dollars each from this non-profit. Or take a free class or workshop. Address is 3173 Hwy 129 North, Cleveland, GA 30528. Phone 678-335-5600

Small Business Assistance Corporation, 111 E. Liberty Street, Suite 100, Savannah, GA 31401, call 912-232-4700

LiftFund, Inc covers Georgia out of the Texas office. Address is 2007 W Martin Street, San Antonio, TX 78207. Residents of Georgia that need financial help, information on marketing or business services can dial 210-226-3664.

Idaho

Jannus, Inc – 1607 W. Jefferson Street, Boise, ID 83702. Main phone 208-336-5533

Illinois

Accion Chicago and Cook County is at 1436 W. Randolph Avenue, Suite 300, Chicago, IL 60607. They help black owned business owners, women, veterans, and other disadvantaged groups in the city and county. For information on interest rates or applying for a small business microloan, call 312-275-3000.

Chicago Neighborhood Initiatives Micro Finance Group is a regional non-profit. The main office is at 1000 E. 111th St., Chicago, IL 60628. Call 773-341-2067

Justine Petersen Housing & Reinvestment Corporation is at 1023 N. Grand Blvd, St. Louis, MO 63016. Phone 314-533-2411 x 2411. Get mortgage help, small business funding, loans, legal support and more.

Indiana

Flagship Enterprise Center, Inc. (dba Bankable) has an office at 2705 Enterprise Drive, #150, Anderson, IN 46013. Main phone 765-622-0100

Neighborhood Self Employment Initiative, Inc. also provides microloans in Marion County. The address is 111 Monument Circle, suite 1950, Indianapolis, IN 46204. For intake and information, dial 317-464-2258

Accion Chicago, Inc., 1436 W. Randolph Avenue, Suite 300, Chicago, IL 60607. Telephone number is 312-275-3000

Community Action of Northeast Indiana is a non-profit. They offer job programs, free government grants, small business loans, eviction help and other social services. Address is 227 East Washington Blvd, PO BOX 10570, Fort Wayne, IN 46853.

Iowa

Iowa Foundation Microenterprise Community Vitality – Address is 915 8th St., Suite 205, Boone, IA 50036, call 515-212-0182

Kansas

Justine Petersen Housing & Reinvestment Corporation helps the low income. They offer IDA accounts, microloans for minorities or immigrants, mortgage or rent assistance, and other aid. Address is 1023 N. Grand Blvd, St. Louis, MO 63016. Call 314-533-2411 x 2411

South Central Kansas Economic Development District Inc. is a lender at 9730 E. 50th Street North, Bel Aire, KS 67226. Main phone 316-262-7035

Kentucky

Mountain Association for Community Econ. Development is at 433 Chestnut Street, Berea, KY 40403, dial 859-986-2373

Community Ventures Corporation offers many free or low cost small business services. The disabled, minorities and disadvantaged can get help from the SBA approved lender, including loans, credit building assistance, and other programs. The address is 1450 North Broadway
Lexington, KY 40505. Phone 859-231-0054.

Purchase Area Development District address – 1002 Medical Drive, Mayfield, KY 42066, 270-247-7171

Southeast Kentucky Economic Development Corp. (SKED) has an office at 2292 South Highway 27, Somerset, KY 42501. SE Kentucky families or individuals, or those seeking to start a business, can dial 606-677-6100

Kentucky Highlands Investment Corporation, 362 Old Whitley Road, P.O. Box 1738, London, KY 40743. Phone 606-864-5175

Louisiana

LiftFund, Inc covers the entire state as an SBA lender. Loans, free mentoring, minority and Latino assistance and more is offered. Address is 2007 W Martin Street, San Antonio, TX 78207. Phone 210-226-3664

Maine

Coastal Enterprises Inc., 30 Federal St., Brunswick, ME 4011. Call 207-882-7552

Androscoggin Valley Council of Governments is based at 125 Manley Road, Auburn, ME 4210, call 207-783-9186

Community Concepts Finance Corporation aka Community Concepts Inc. has an address at 19 Market Square, South Paris, ME 4281. For information on applying for funding, capital, or Small Business Administration Loans, dial 207-743-7716.

Mainestream Finance – 262 Harlow Street, Bangor, ME 4402. Phone 207-973-3663

Northern Maine Development Commission address is 302 South Main Street, Caribou, ME 4736. Phone 207-498-8736

Maryland

Accion East, Inc. is a national SBA approved non-profit. They offer cash loans, online classes, advice to Black or female owned businesses (or startups) and other assistance programs from their NE office at 80 Maiden Lane, Suite 903, New York, NY 10038. Call 212-387-0377

Latino Economic Development Corporation – 1401 Columbia Rd., NW, Unit C-1, Washington, DC 20009, dial 202-588-5102

Life Asset Inc. is a community lender for the disadvantaged and low income. The non-profit address is 2448A 18th Street NW, Washington, DC 20009

Washington Area Community Investment Fund address is 2012 Rhode Island Ave, NE, Washington, DC 20018. Main phone 202-529-5505.

Maryland Capital Enterprises, Inc. address is 144 East Main Street, Salisbury, MD 21801. Main phone 410-546-1900

ECDC Enterprise Development Group is an SBA approved lender. Cash loans, financial aid for borrowers with low or no credit, debt help, and startup assistance can all be arranged from the Northern Virginia office at 901 South Highland Street, Arlington, VA 22204, call 703-685-0510

Massachusetts

Common Capital Inc., 120 Maple St, Springfield, MA 1105. Call 413-233-1680

North Central Massachusetts Development Corporation is focused on business development, including help the vulnerable, disadvantaged, and minorities. Learn how to set up a business, get help making a plan, and apply for loans to pay for inventory or other operation costs. Address is 860 South Street, Fitchburg, MA 1420, dial 978-353-7600

Community Teamwork, Inc. is a community action agency. The non-profit is at 155 Merrimack Street, Lowell, MA 1852. Call 978-459-0551. Career coaching, job programs, income resources, and even SBA microloans as well.

Dorchester Bay Neighborhood Loan Fund, 594 Columbia Road, Suite 302, Dorchester, MA 2125. Telephone number is 617-825-4200

Massachusetts Growth Capital Corporation, 529 Main Street, Suite 1M10, Charlestown, MA 2129.

Jobs for Fall River Inc. is focused on Entrepreneurship, small business growth, and education as a way to fight back poverty. Small business administration microloans, business plan creation, in class sessions and other business services. The address is 139 South Main Street, Suite 400, Fall River, MA 2722. Dial 508-324-2620.

New Bedford Economic Development Council, Inc. is at 1213 Purchase Street, 2nd Floor, New Bedford, MA 2740. Phone 508-991-3122

South Eastern Economic Development Corp/SEED, 80 Dean Street, Taunton, MA 2780, phone 508-822-1020

The Economic Development and Industrial Corporation of Lynn, Lynn City Hall – Suite 307, 3 City Hall Square, Lynn, MA 1901. Telephone 781-581-9399.

Michigan

Great Lakes Women’s Business Council is a great benefit for female Entrepreneurship Classes, no matter the race. Veteran women, Latino, Black women and others can get help starting, saving, or growing a company. Free mentoring, loans, and other help is offered from 33109 Schoolcraft Rd., Livonia, MI 48150. Call 734-677-1400.

Metro Community Development, Inc. address is 503 S. Saginaw St., STE 804, Flint, MI 48502. Call 810-767-4622.

Grand Rapids Opportunities for Women (GROW) is a non-profit at 25 Sheldon Blvd. SE, Suite 210, Grand Rapids, MI 49503. Dial 616-458-3404.

Northern Economic Initiative Corporation is at 1401 Presque Isle Ave Ste 202, PO Box 7009, Marquette, MI 49855. Call 906-226-1622

Renaissance Development Fund address is 80 W. Main Street, Benton Harbor, MI 49022. Phone number is 269-925-6100. Get information on SBA microloans, borrowing and more. Funds can pay for inventory, rent, utilities and other business operating costs.

Michigan Women’s Foundation address is 1155 Brewery Park Blvd., Suite 350, Detroit, MI 48207. Phone 313-962-1920

Minnesota

Southern Minnesota Initiative Foundation is at 525 Florence Avenue, Owatonna, MN 55060. The main phone number is 507-455-3215.

Hmong American Partnership is a great resource for SE Asians and immigrants. SBA microloans, cash, help setting up online businesses and other services are offered from 394 University Ave W. 2nd Floor, Saint Paul, MN 55103. Call 651-495-9160.

Neighborhood Development Center, 663 University Avenue, Saint Paul, MN 55104

Southwest Initiative Foundation address is 15 3rd Avenue, NW, P.O. Box 428, Hutchinson, MN 55350. Main phone 320-587-4848.

African Development Center address is 1931 South 5th Street, Minneapolis, MN 55454. A major focus is on the black community as well as business owners. Call 612-333-4772.

Northwest Minnesota Foundation is a local non-profit. Address is 201 3rd Street NW, Bemidji, MN 56601. Phone 218-759-2057

Women Venture address is 2021 East Hennepin Ave., Suite 200, Minneapolis, MN 55413. For information on applying for loans and other support, call 612-224-9571.

Northeast Entrepreneur Fund, Inc. dba Entrepreneur Fund offers many solutions. Crowdfunding programs, SBA loans, financial aid, online or in person classes and other free business programs are at 551 Hatrick Avenue, Eveleth, MI 55734. Telephone number is 218-735-6022

First Children’s Finance, 111 Third Avenue South, Suite 220, Minneapolis, MN 55401. Phone 612-279-6509

Mississippi

Renaissance Community Loan Fund, Inc. is a non-profit CDFI. they offer loans as well as IDA (Individual Development Accounts), SEO classes, social networking support, and other help. Location is 11975 Seaway Rd., Suite A140, Gulfport, MS 39503. Phone 228-896-3386

Communities Unlimited, Inc., 3 East Colt Square Drive, Fayetteville, AR 72703, dial 479-443-2700

LiftFund, Inc is at 2007 W Martin Street, San Antonio, TX 78207. Main phone 210-226-3664

Missouri

Justine Petersen Housing & Reinvestment Corporation address is 1023 N. Grand Blvd, St. Louis, MO 63016, call 314-533-2411 x 2411

AltCap address is 3200 Wayne Avenue, Kansas City, MO 64109. Find out how to set up a business, such as an LLC or partnership, or apply for SBA microloans. Call (816) 216-1851.

Forge-Financing Ozarks Rural Growth and Economy – 4415 HWY, 412 Business, Huntsville, AR 72740. Phone 501-738-1585

Montana

Montana Community Development Corporation address is 229 East Main Street, Missoula, MT 59802. Phone 406-728-9234

Nebraska

Rural Enterprise Assistance Project-Center for Rural Affairs main address is 145 Main Street, P.O. Box 136, Lyons, NE 68038. For information on USDA or microloans, dial 402-687-2100.

Nebraska Enterprise Fund is an approved micro-lender bank. Cash, financing, and other aid for farmers, migrant workers, minorities and others who need help for their business. 330 North Oakland Ave, Oakland, NE 68045, call 402-685-5500

Omaha Small Business Network, Inc. address is 2505 North 24th Street, Omaha, NE 68110. Call 402-453-5336

Community Development Resources address is 285 South 68th St. Pl., Suite 420, Lincoln, NE 68510

Nevada

Prestamos CDFI, LLC is the primary SBA minority and women microlender for the state of Nevada. They help Hispanics, veterans and other disadvantaged businesses. The address is 1024 East Buckeye Road, Suite 270, Phoenix, AZ 85034. Call 602-258-9911

New Hampshire

Rockingham Economic Development Corporation (REDC) dba Regional Economic Development Center of Southern NH is a regional non-profit for the state. Applying for funding to start a business. There is also free technical assistance and other support from 57 Main Street
Raymond, NH 3077, call 603-772-2655.

Northern Community Investment Corporation – Address is 51 Depot Square, Suite #2, St. Johnsbury, VT 5819. Phone 802-748-5101

Accion East, Inc. is at 80 Maiden Lane, Suite 903, New York, NY 10038. Main number is 212-387-0377

New Jersey

Cooperative Business Assistance Corporation gives business advisers as well as applications to SBA microloans. They are at 328 Market Street
Camden, NJ 8102, phone 856-966-8181.

Trenton Business Assistance Corporation is based in the Capital area. They offer everything from free government grants to SBA loans, technical help, services such as website development and more. They focus on making loans accessible to minorities as well as women too. Address is 3111 Quakerbridge Road, 2nd Floor, Mercerville, NJ 8619. Call 609-587-1133.

Accion East of New Jersey, Inc. location is 80 Maiden Lane, Suite 903, New York, NY 10038. Call 212-387-0377

BOC Capital Corporation – 85 S. Oxford Street, Brooklyn, NY 11217. Main phone 718-624-9115

Pursuit is based at 5 Hanover Square, 10th Floor, New York, NY 10004. Dial (866) 466-9232

New Mexico

New Mexico Community Development Loan Fund, Inc. has free mentoring for immigrants and Spanish speakers as well. Or apply for emergency, low interest rate SBA microloans from the non-profit lender. They also offer marketing and branding help. Mailing address is P. O. Box 705, Albuquerque, NM 87103. Main phone 505-243-3196

Women’s Economic Self Sufficiency Team, 609 Broadway NE, Albuquerque, NM 87102. Call 505-246-6929

New York

Grameen America, Inc. is at 150 West 30th Street, 8th Floor, New York, NY 10001 call 212-735-4057 for intake or applications from the lender.

Renaissance Economic Development Corporation, 2 Allen Street, 7th Floor, New York, NY 10002, call 212-964-6022.

Accion East, Inc. address is 80 Maiden Lane, Suite 903, New York, NY 10038. Main phone 212-387-0377

Business Center for New Americans help immigrants, Eastern Europeans, and others new to the country. SBA loans, financial help, website development and other services. Location is 120 Broadway, Suite 230, New York, NY 10271. Main number is 212-898-4112

Community Capital New York, Inc. address is 44 Executive Blvd, Elmsford, NY 10523. Main number is 914-747-8020

BOC Capital Corporation address is 85 S. Oxford Street, Brooklyn, NY 11217. Main number is 718-624-9115. Job programs, help for females and minorities in Harlem, the Bronx, and other startup business advice (and loans) are offered in the greater NYC area.

Pursuit Non-Profit SBA lender address is 5 Hanover Square, 10th Floor, New York, NY 10004, call (866) 466-9232

Adirondack Economic Development Corporation, 67 Main St., Suite 200, P.O. Box 747, Saranac, NY 12983. Phone 518-891-5523

Westminster Economic Development Initiative, Inc. is at 436 Grant Street, Buffalo, NY 14213. Call the Erie County SBA lender at 716-393-4088

Pathstone Enterprise Center, Inc. focuses on farm workers, migrant workers and immigrants. Everything from debt help to business loans, housing, and other aid is offered. Address is 400 East Avenue, Rochester, NY 14607. Call 585-340-3385

REDEC Relending Corp. (REDEC/RRC) is at 8 Denison Parkway, East, Suite 305, Corning, NY 14830, call 607-962-3021

Columbia Economic Development Corp. dba Choose Columbia is at 4303 Route 9, Hudson, NY 12534. Main number is 518-828-4718

North Carolina

Accion East, Inc services the state. The non-profit SBA lender can give loans to applicants with low or bad credit scores. They help the disadvantaged, low income and other start or grow a business. Entrepreneurship classes, workshops on getting financing or developing branding, and other technical help is offered too. The regional office is at 80 Maiden Lane, Suite 903, New York, NY 10038. Call 212-387-0377

Mountain Bizcapital, Inc. of western NC is at 153 South Lexington Avenue, Asheville, NC 28801. Dial 828-253-2834

North Dakota

Lake Agassiz Regional Development Corporation address is 417 Main Avenue, Suite 201, Fargo, ND 58103. The entire state is supported. Phone 701-235-1197

Ohio

Economic and Community Development Institute offers small business assistance and micro-loans all across Ohio. Minority, LGBTQ, veterans, women and others can get help. The location is 1655 Old Leonard Avenue, Columbus, OH 43219. Call 614-732-0981 for applications. The money can help pay bills, salaries, and more. Businesses across Cleveland, Cincinnati and other cities in Ohio can use this non-profit.

Oklahoma

Forge-Financing Ozarks Rural Growth and Economy address is 4415 HWY, 412 Business, Huntsville, AR 72740. Call 501-738-1585

Tulsa Economic Development Corporation assists the county. Black, Latino and other minority and disadvantaged businesses can get free coaching, SBA microloans or apply for grants, and other capital. Or technical help. Location is 125 W Third St, Tulsa, OK 74103, phone 918-585-8332

Rural Enterprises of Oklahoma, Inc., 2912 Enterprise Blvd., , Durant, OK 74701, phone 800-658-2823

Little Dixie Community Action Agency is a poverty fighting agency. But they also offer small dollar business loans. Location is 209 N. 4th St.
Hugo, OK 74743, call 580-326-3351

Oregon

Mercy Enterprise Corp., dba Mercy Corps Northwest Get financial help (loans or grants) for growing or starting a business. There is a women’s business center, mentoring/microloans and more help from 43 SW Naito Parkway, Portland, OR 97204. Call 503-896-5070.

Micro Enterprise Services of Oregon (Pedagogy Institute) is at 4008 NE MLKing Jr. Blvd., Portland, OR 97212. Call 503-914-6147

Oregon Association of Minority Entrepreneurs Credit Corporation – As the name implies, Latinos, black business owners, Asians and others can get assistance from the SBA certified lender. Education, free coaching from career professionals, and help fighting lending bias can be arranged from 731 N. Hayden Meadows Dr, Portland, OR 97217. Call 503-249-7744

Pennsylvania

Cooperative Business Assistance Corporation address is 328 Market Street, Camden, NJ 8102. Call 856-966-8181

Accion East, Inc. – Pennsylvania branch office is 80 Maiden Lane, Suite 903, New York, NY 10038. Call 212-387-0377 for applications to the lenders.

Pursuit offers microloans, information on forming an LLC or corporation, microloans for borrowers with bad credit, and other resources. Location is 5 Hanover Square, 10th Floor, New York, NY 10004. Call (866) 466-9232

Northside Community Development Fund address is 922 Middle Street, Pittsburgh, PA 15212. Call 412-322-0290

Bridgeway Capital address is 707 Grant Street, Suite 1920, Pittsburgh, PA 15219. Phone number is 412-201-2450

Washington County Council on Economic Development offers applications to free government grants, loan programs, credit counseling and help filing for a business among other technical help. The SBA lender is at 273 South Main St., Washington, PA 15301. Phone 724-225-8223

Johnstown Area Regional Industries, Inc. address is 245 Market Street, Suite 200, Johnsrown, PA 15901, phone 814-535-8675

Assets Lancaster is about financial education, business development and Entrepreneurship, in particular for women, minorities, and the disadvantaged. Address is 100 S Queen St, Lancaster, PA 17603

Community First Fund address is 51 South Duke St, Lancaster, PA 17602. For intake or SBA microloan information, requirements, and the process, dial 717-393-2351.

Women’s Opportunities Resource Center assists females, Black or Latino women, single mothers and others. They help with financial planning offer retirement classes, low cost loans, equity products and more from 2010 Chestnut St., Philadelphia, PA 19103. Dial 215-564-5500

Finanta is at 1301 N. 2nd Street, Philadelphia, PA 19122. Call 267-236-7005

West Philadelphia Financial Services Institution offers investment, IDA saving accounts, and business startup advice for the disadvantaged. Education, cash loans and more is from 5200 Warren Street, Philadelphia, PA 19131. Main number is 215-452-0100.

Enterprise Center Capital Corporation is at 4548 Market Street, Philadelphia, PA 19139. Call 215-895-4024. The Community Development Financial Institution (CDFI) provides microloans to small minority, female, and veteran run businesses across the state. They are certified through the U.S. Small Business Administration.

MetroAction, Inc. is at 222 Mulberry Street, Scranton, PA 18501, call 570-342-7711

Puerto Rico

Corp. Financiamiento Empresarial del Comercio y Comunidades (COFECC) address is 171 Ave Carlos Chardon, Ste 407, San Juan, PR 919, 787-756-5080. Get financial help, SBA microloans loans, information on export/import regulations, and other small business assistance.

Rhode Island

South Eastern Economic Development Corp/SEED address is 80 Dean Street, Taunton, MA 2780. Call 508-822-1020

Community Investment Corporation is at 2315 Whitney Avenue, Suite 2B, Hamden, CT 6518. Phone 203-776-6172

South Carolina

Accion East, Inc. covers the state. They are an Small Business Administration lender for the state. Apply over the phone or internet. Get help setting up retail, online, or manufacturing businesses. Minorities and others can turn to the lender. Address is 80 Maiden Lane, Suite 903, New York, NY 10038. Phone 212-387-0377

Charleston Citywide Local Development Corporation also assists the county from 2 Race Street, Charleston, SC 29403. Call 843-965-4089

CommunityWorks has a credit union, financial services, a women’s development centers, and SBA microloans for up to $50,000. The non-profit is at 107 W. Antrim Dr, Greenville, SC 29607.

Beaufort County Black Chamber of Commerce, 801 Bladen Street, Beaufort, SC 29902. Call 843-986-1102

Small Business Assistance Corporation covers the very southern part of SC from 111 E. Liberty Street, Suite 100, Savannah, GA 31401. Call 912-232-4700

South Dakota

Northeast South Dakota Economic Corporation assists the entire state. The SBA approved lender offers disadvantaged loans, including USDA financial aid or grant programs. Get help with agricultural businesses, setting up minority businesses and other support. The address is 104 Ash Street East, Sisseton, SD 57262. Call 605-698-7654

Tennessee

People Incorporated Financial Services address is 1173 West Main St., Abingdon, VA 24210. Call 276-619-2239.

Southeast Community Capital of Davidson County is at 201 Venture Circle, Nashville, TN 37228. Black, minority, female owned companies can apply for SBA loans. They need a business plan and ways to repay the funds. Call 615-425-7171 for details or applications.

Communities Unlimited, Inc. address is 3 East Colt Square Drive, Fayetteville, AR 72703. Call 479-443-2700.

LiftFund, Inc covers Tennessee from 2007 W Martin Street, San Antonio, TX 78207. Free Entrepreneurship, Small Business Administration microloans, business plan creation advice and other services are available. Dial 210-226-3664.

Texas

Alliance for Multicultural Community Services of Harris County. The lender helps the disadvantaged start, fund, and grow a business, including minorities and the disabled. The main office is at 6440 Hillcroft, Suite 411, Houston, TX 77081. Call 713-776-4700.

LiftFund, Inc. is a nationwide SBA certified lender with an office in San Antonio. Get microloan applications in Spanish too. Borrowers with a business plan and some low to average credit scores may get a microloan. They also help women entrepreneurs, Hispanics, and others fight poverty and get capital for their company. Location is 2007 W Martin Street, San Antonio, TX 78207, call 210-226-3664

PeopleFund of travis County and central Texas – 2921 East 17th Street, Building D, Suite 1, Austin, TX 78702, call 512-472-8087

Utah

Utah Microenterprise Loan Fund, 154 East Ford Ave Suite A, Salt Lake City, UT 84115. Dial 801-746-1180. Small business owners and startups in Utah can apply for funds.

Vermont

Vermont Community Loan Fund, Inc. is in the state capital and also supports the disadvantaged in Burlington. Small business loans, government grants, counseling, mentoring, and other financial aid and long term support. Address is 15 State Street, Montpelier, VT 5601. Main number is 802-223-1448.

Community Capital of Vermont, Inc. (CCVT) is a non-profit. Location is 105 N. Main Street, #305, Barre, VT 5641, dial 802-479-0167

Northern Community Investment Corporation, 51 Depot Square, Suite #2, St. Johnsbury, VT 5819, phone 802-748-5101

Virginia

Accion East, Inc. address is 80 Maiden Lane, Suite 903, New York, NY 10038. Phone 212-387-0377.

Latino Economic Development Corporation focuses on Latinos, Hispanics, and Spanish speakers. Small Business Administration’s (SBA) microloan programs help small as well as growing businesses or companies. They give technical help, help Latinos file applications for a license and other support. Address is 1401 Columbia Rd., NW, Unit C-1, Washington, DC 20009. Call 202-588-5102.

Life Asset Inc. is at 2448A 18th Street NW, Washington, DC 20009

Washington Area Community Investment Fund is for Northern Virginia at 2012 Rhode Island Ave, NE, Washington, DC 20018. Call 202-529-5505

ECDC Enterprise Development Group provides free government grants and low cost loans to the disadvantaged. Location is 901 South Highland Street, Arlington, VA 22204, call 703-685-0510

People Incorporated Financial Services address is 1173 West Main St., Abingdon, VA 24210. Telephone 276-619-2239.

Staunton Creative Community Fund, Inc is at 10 Byers street, Staunton, VA 24401, main number is 540-213-0333

Washington

Mercy Enterprise Corp., dba Mercy Corps Northwest also covers Washington state. Address is 43 SW Naito Parkway, Portland, OR 97204. Dial 503-896-5070.

Oregon Association of Minority Entrepreneurs Credit Corporation is based from 731 N. Hayden Meadows Dr, Portland, OR 97217. Call the non-profit organization at 503-249-7744 for details.

Seattle Economic Development Fund (dba: Business Impact Northwest) helps minorities, the disabled, female, and other small business owners in king, Pierce, and nearby counties. Much of the support is tech related or marketing/website development. They also have SEO professionals and other on site, and this is in addition to microloans. Address is 1437 South Jackson, Ste 201, Seattle, WA 98144, call 206-324-4330.

Ventures is at 2100 24th Ave., S., Suite 380, Seattle, WA 98144.

Rural Community Development Resources is for migrant and farmers businesses, some of whom may be veterans, LGBTQ or the disadvantaged. Get technical help or free advice, consultations, information on USDA lending programs and other aid. Location is 24 South 3rd Avenue, Yakima, WA 98902, call 509-453-5133.

SNAP Financial Access is a non-profit SBA lender at 3102 W Fort George Wright Dr., Spokane, WA 99224. Dial 509-456-7627.

West Virginia

Washington County Council on Economic Development can give job and technical help, even GED or coding classes, as well as Small Business Development microloans. Minority and women business owners and those starting a company often get about a third of the funds. Address is 273 South Main St., Washington, PA 15301. Call 724-225-8223

People Incorporated Financial Services also serves WV from 1173 West Main St., Abingdon, VA 24210. Call 276-619-2239

Kanawha Institute for Social Research & Action (KISRA) address is 131 Perkins Avenue, Dunbar, WV 25064. Call 304-768-8924

Wisconsin

Wisconsin Women’s Business Initiative Corporation helps women, including Black and Latino females, start or grow a business. There is a development center. Learn about everything from SBA microloans to crowdfunding platforms for women. The address is 1533 N. Rivercenter Drive, Milwaukee, WI 53212. Call 414-395-4562.

First American Capital Corporation is 10710 West Scharles Avenue, Hales Corners, WI 53130. Call 414-604-2044 for information or applications.

CAP Services, Inc. is a non-profit community action agency. Housing, grants, financial aid, job programs, internet access and other support is at 2900 Hoover Road, Suite A, Stevens Point, WI 54481. Phone 715-343-7100.

Northwest Wisconsin Regional Planning Commission – 1400 S. River Street, Spooner, WI 54801

Advocap, Inc. address is 19 W. First Street, PO Box 1108, Fond du Lac, WI 54936. Call 920-922-7760 for the applications to SBA microloans for the disadvantaged or counseling programs.

Wyoming

Wyoming Women’s Business Center is based at 710 East Garfield, Suite 323, Laramie, WY 82070. They offer classes and coaching from female business owners. They also process microloans from the SBA, and are a certified lender for minorities, veterans, females and the disadvantaged.

By Jon McNamara