5 Ways Business Finance Authority Can Help Grow Your Small Business
Starting and running a small business can be both exciting and daunting. While you may have a great business idea, it’s essential to have the right funding. This is where the Business Finance Authority (BFA) comes in.
The BFA is an independent state agency that offers various financing options for small businesses in New Hampshire. Here are five ways the Business Finance Authority can help grow your small business:
1. Access to Capital
One of the most significant barriers to starting or growing a small business is access to capital. The BFA offers various loan programs to help small businesses get the funds they need to get started or expand their operations. These loans can be used for working capital, equipment purchases, and several other business purposes.
2. Technical Assistance
The BFA provides technical assistance to small business owners. Whether you need help writing a business plan, understanding financial statements, or preparing for financing, the BFA can help. Technical assistance can be vital to the success of your small business because it helps you navigate the complex financial landscape.
3. Business Relocation and Expansion
If you’re considering relocating or expanding your small business in New Hampshire, the BFA can help. The BFA offers several financing options, including tax-exempt bond financing and loan guarantees. These financing options can help reduce costs and encourage expansion, leading to increased revenue and job creation.
4. Energy Efficiency Financing
The BFA’s New Hampshire Business Energy Partnership Program is designed to help small businesses reduce their energy costs. The program offers low-interest financing for energy efficiency upgrades that can help reduce your energy expenses and improve the bottom line. The program also offers technical assistance to help businesses identify and implement energy-saving initiatives.
5. International Trade Financing
The BFA understands the importance of international trade for small businesses. If you’re looking to expand your business into international markets, the BFA offers several financing options. These options include loan guarantees, export financing, and the State Trade Expansion Program (STEP). The STEP program provides reimbursement grants to eligible small businesses to offset the cost of participating in export-related activities.
Conclusion
In conclusion, the Business Finance Authority offers a range of financing options and technical assistance to help grow your small business. Whether you’re looking for access to capital, technical assistance, or international trade financing, the BFA can help you navigate the complex financial landscape and achieve your business goals. If you’re a small business owner in New Hampshire, it’s worth exploring the BFA’s programs and offerings to see how they can support your business growth.
