The Department of Economic Opportunity offers many programs to help small businesses, including loans, loan guarantees, tax credits, and technical assistance. Please download our brochure to see details on what we can offer your small business.
BLACK BUSINESS LOAN PROGRAM (BBLP)
The Black Business Loan Program provides alternative lending opportunities and technical assistance to black business enterprises that cannot obtain capital through conventional lending institutions, but could otherwise compete successfully in the private sector.
The purpose of the Microfinance Program is to improve the ability of entrepreneurs and small businesses to access capital and credit. Small business in this program is defined as entities with 25 or fewer employees, and gross annual revenues of $1.5 million on average.
NEW MARKETS TAX CREDIT PROGRAM (NMTC)
The New Markets Tax Credit Program is established to encourage investment in rural and urban low-income-communities by providing state tax credits to individuals or entities that invest in qualified businesses located in these low-income communities.
STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI)
The SSBCI program supports access to capital for small businesses and entrepreneurs by provision of the following sub-programs:
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