There is a government agency in the United States that seeks to support small upcoming enterprises. Equal Credit Opportunity Act (ECOA): A federal law that requires creditors and lenders to avoid discrimination on the basis of race, color, religion, age, sex, national origin, marital status, as well as income received from public assistance program, while providing credit.
This program provides small loans of between $5,000 to $50,000 to both small start-up and existing businesses, it can be used for a broad range of business purposes, and those receiving such loans must participate in a technical assistance program administered by the nonprofit agency providing the loan.
In effort to help small businesses grow and motivate people to starting a small business, this program provides them with access to government contracting opportunities, specialized business training and counseling, and help with their small business marketing and high-level executive development.
Federal Reserve: It generally … Read More...