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Small Businesses Starved for Funding

By Jeanne Cole

According to a recent article in a newsletter from the Center for Rural Affairs, “A new survey shows a lack of available capital for small and start-up businesses!” The survey was conducted by the national Association for the Self-Employed also revealed that the primary sources of funding for new small businesses are credit cards and personal savings. Only 6% employed loans from financial institutions or government as primary sources of start-up captial.
Obstacles they faced to gaining capital included:

  • Credit rating
  • lack of collateral
  • bank regulations & paperwork

For more on this issue or to receive a free newsletter visit the web site at www.cfra.org or email to info@cfra.org

[small biz] [rural] [entrepreneurs]

March 14, 2006 Filed Under: rural

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Comments

  1. Becky McCray says

    March 14, 2006 at 2:49 pm

    An interesting suvey! Only 6%? Wow!

    The list of obstacles is deadly accurate. Is this an opportunity to organize rural angel networks to lend to/invest in small biz?

Trackbacks

  1. Small Business Financing: Invoice Factoring says:
    May 14, 2013 at 4:43 am

    […] Jeanne (OkieJ), explained that small businesses don’t get much of our money from banks. I gave a link to a bit more on how to raise money from friends and family. Now Marco Terry […]

  2. Raising Money From Family and Friends says:
    May 15, 2013 at 3:54 am

    […] only 6% of new small businesses getting funded by bank loans, small biz survivors raise their money creatively. Lots of small biz people turn to family and […]

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