THE SMALL OFFICE/HOME OFFICE (SOHO) SMALL BUSINESS LOAN PROGRAM
The
Corporation for Economic Opportunity (CEO) is a certified Technical
Assistance (TA) Provider by Innovative Bank, to help Small and Minority
Businesses gain access to loans, which are part of the US Small
Business Administration’s (SBA) Community Express Small Office/Home
Office (SOHO) Small Business Loan Program.
This
program is available to those persons who are currently operating a
small office or home-based business, looking to begin a "start-up"
company or who are in need of technical assistance. Through Innovative
Bank, qualified applicants can apply for five to fifty thousand dollars
and Innovative Bank does not base its decisions solely on credit. The
following criteria regarding loan approvals is reviewed:
Length of Home Ownership or Rental Home (shows stability - no collateral needed)
Business / Industry Type
Personal Credit History (all existing debt must be current)
Average Monthly Sales or Estimated Sales
Length of Time in Business
Click here to get application forms and find out more about the program.
MINORITY YOUTH ENTREPRENEURSHIP TRAINING
In
an effort to increase the pool of viable minority businesses and to
reduce poverty in the Greater Columbia Region's African-American
community, CEO has served as the regional partner to bring a program,
sponsored by the National Foundation for Teaching Entrepreneurship
(NFTE), to train minority, at-risk youth to be entrepreneurs. YEScarolina
is NFTE’s partner for South Carolina and, working under its statewide
umbrella, CEO has raised funds and coordinated the regional effort to
train local teachers, under the NFTE system, so that they can offer
entrepreneurship classes for at-risk students. To learn more about YEScarolina andNFTE’s world-class program, see www.YEScarolina.com.
