Corporation For Economic Opportunity
THE SMALL OFFICE/HOME OFFICE (SOHO) SMALL BUSINESS LOAN PROGRAM
Corporation for Economic Opportunity (CEO) has been 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.