"Business Plan 101" EBMS Final Project-Blog Post #1 Questions & Answers

After reviewing the websites, I am providing some of the information obtained from a few websites.

    1.What types of financing opportunities are described on the websites?

According to www.oppurtunityfinance.net/ is a very informative website that has a unique approach to the way in which they finance loans. The Opportunity Finance Network (OFN) is the nations largest and most prestigious awards program for people who are responsible. It markets business to help low-wealth and low-income people in various communities to join the economic stream. They have a program that randomly chooses luckily winners to win Wachovia Wells Fargo opportunity finance. The Coastal Enterprises, Inc. (CEI), in Wiscasset, ME provides capital form of loans and equity investment, as well as technical, workforce, and policy support. It also creates jobs, natural resources for business. The funds are in described as grants and low-cost, long-term loans.

 The website http://www.microenterpriseworks.org/ markets a company that creates economic opportunity for underserved entrepreneurs. They offer financial entrepreneurial support for families and business owners through lenders such as Capitol One Bank, Citi Bank, Wells Fargo, and Friedman Family Foundation just to name a few.  AEO offers financing in the form of private loans to improve and expand vital programs to disadvantaged entrepreneurs. According to www.ncif.org/ provides investor services that selectively provide institutions for investor clients that want start a business. They provide examinations of portfolios that contain summary data and comparisons to relevant peer groups to ensure that one receives the loan or grants that are currently available to them.

2.     What are some of the requirements and qualifications to obtain financing?

Some of the qualification include that one must be a disadvantaged entrepreneur. Other include that you must have a good credit score and eligible for qualifications. On the other hand www.oppurtunityfinance.net/ required for an individual to be low-wealth and low-income participants in order to qualify to enter the drawings for business funds. This shows that there is funding out there for people no matter if you have an income or no income at all. The privileged and underprivileged business entrepreneurs have a chance to get funds that will aid in financial wealth.

3.     What other types of information are available on the sites?

Additional website information included business start-up seminars, training and loan counseling for those who are borrowing loans from private lenders. The website http://www.eda.gov/ offers very informative tips on programs and funding opportunities that include economic foundations, developments and assistance center that include federal agency locations and additional web links that provide further education about loans and grants that are available to business entrepreneurs.

General Comments in regards to the advantages and disadvantages of using alternative financing:

Some of the advantages include being a disadvantaged loan borrower, and having services to help get the same economic status as someone who has more than enough funding to start your business. Some of the disadvantages include that if you are in debt or your credit line is limited, you can only receive so much in funding that may not enough for your start-up costs which may hold one back who has a lucrative business plan with limited funds to start.
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