What are some of the region-specific advantages or disadvantages that hinder or benefit owners of small businesses?
I cannot think of anything hindering the small-business owner. After spending most of my SBA career in New York and New Jersey, Dallas/Fort is definitely a better place to be and do business. Not only are the large companies moving in this area, [but] the small business community recognized that Dallas-Fort Worth is the place to be because of the benefits. The low cost of living, no state income taxes, favorable business environment, the ease of starting a business here without any bottleneck, access to a relatively rich and mixed market environment, access to financing, and a decent weather pattern.
For individuals who were unable to qualify or get funding, what resources or programs would they be able to take advantage of or research?
The EIDL program ends on Dec. 31, 2021, at 1:00 pm Central. Interested parties can still apply. As mentioned earlier, the microloan program and other institutions also manage an SBA loan program known as Community Advantage. One can apply for up to $250,000. For organizations to remain compliant with SBA, most of their loans must be [distributed] to underserved markets. Most banks participate in the SBA loan guarantee program. There are a couple of grant opportunities minority businesses can take advantage of; the US Black Chamber and Dallas County presently have grant programs available to minority businesses.
