Funding Alternatives

Everyone knows that money is a large factor in starting a business.  As I build my business plan, I have been looking for resources such as loan agencies and alternative funding agencies, to grant my business money as a loan or investment.  I have reviewed a few funding websites that could benefit to my cause.

One website I researched for funding was the U.S. Economic Development Administration or EDA.  This website offers sections including federal funding opportunities, programs, and even a newsroom.  The federal funding opportunities section involves different grants and investment priorities like the Disaster Relief Opportunity, An Advanced Manufacturing Jobs and Innovation Accelerator Challenge, and the EDA’s Planning and Local Technical Assistance Program.  EDA also have investment programs such as public works, community trade adjustment assistance, and trade adjustment assistance for firms.

Another funding website I checked out was the Community Development Venture Capital Alliance or CDVCA.  They are a non-profit company that offers equity money to start-up businesses.  This company provides consulting services for businesses that want to start a CDVCA fund.  Some services involve start-up, performance and operations, government programs and fund raising, and investor services.  They offer national and international funds.

I can see both of these being having an advantage with my company.  As my company grows, I will want to give back to my community.  These companies offer charity options, which would look great for my company.  It would add publicity to the area and the community around my company.  Another advantage with CDVCA is that they offer consulting.  They have the expertise to plan charity funds rather than a regular finance officer.

Although I have discussed two companies, there are plenty of funding alternatives that can be useful.  The websites for these companies are at www.eda.org and www.cdvca.org.  Also check out CFED and NCIF for more funding options.