Alternative Funding Sources

While examining potential funding for startups, I came across a few alternative-funding opportunities and we will take a look into a few of them.  The Community Development Venture Capital Alliance or CDVCA provides equity capital to businesses in underinvested markets. According to its website www.cdvca.org, “CDVCA is working on many fronts to build and strengthen the CDVC field. It promotes the field by combining advocacy, education, communication and best-practice dissemination through conferences and workshops.” Some of the requirements other than becoming a member is to have businesses in underinvested markets and will provide good jobs to low-income individuals and communities. CDVCA also provides workshops, seminars and consulting services. For more information visit www.cdvca.org.

More funding opportunities can be found at the U.S. Economic Development Administration website, www.eda.gov/funding-opportunities/. Among the opportunities are the 2014 Regional Innovation Grants which according to the website,  “support commercialization and entrepreneurship as described in the America COMPETES Reauthorization Act of 2010.” The EDA also accepts applications from companies in rural and urban areas that support construction and technical assistance among other programs. The website also provides a resources directory by state or territory which gives visitors the opportunities to explore possible funding and support.

First Nations Oweesta Corporation provides funding and resources for economic growth within Native American communities. The website www.oweesta.org provides information on their Training and Technical Assistance programs along with research and Lending and Capitalization programs. According to the website, “First Nations Oweesta makes loans to various types of Native community development financial institutions such as small business loan funds and credit associations that make consumer, business and housing loans.”

Overall each of these companies offers excellent information and resource material for your start-up or existing businesses. There are plenty of funding opportunities as well. Due diligence and research are required to determine if you or your company qualifies for the funding opportunities available. There are plenty of advantages to alternative funding, such as an abundance of resources and support. One of the disadvantages would be that the criteria for these programs could be very particular and your company might not fall under the specifications required to receive funding from these organizations.

First Nations Oweesta makes loans to various types of Native community development financial institutions such as small business loan funds and credit associations that make consumer, business and housing loans. - See more at: http://www.oweesta.org/services#sthash.ioesjgX5.dpuf