Non-Traditional Funding for Your Small Business
Lewis County Economic Development (LCED) is here to serve our small businesses and entrepreneurs, giving them the resources they need to succeed.
Any successful business owner will tell you, starting a business is tough. The planning, financing, the planning, the set backs, the planning... did we say the planning? Planning for every detail is vital to your business success. They say, "failing to plan is planning to fail," and we, Lewis County Economic Development, are here to help you plan for success, giving you the resources needed that are vital to your business growth.
One way in which we assist small businesses is through a Small Business Revolving Loan Fund. With loans approved of up to $25,000, this is a non-traditional source of funding that could be exactly what your business is looking for. We encourage you to start at your bank; establishing that relationship is key for future growth. If a bank is unwilling to provide either a partial or full loan, the LCED can step in and "fill the gap." For example - your business needs $100,000 for a project. The bank is willing to provide $75,000, leaving you with $25,000 left. The LCED can loan the $25,000 needed in order for your project to continue.
Of course, with any bank or non-traditional lender, seeing a detailed plan is necessary before trying to obtain outside funding. Always make sure to ask yourself, is starting and managing a business right for me? If the answer is yes, start with a plan - and we can help with that too!
Contact us with any questions about our Small Business Revolving Loan at 315-376-3014, or firstname.lastname@example.org.
For more detailed loan information, click here!