Private Investors

If you need limited amounts of capital, seeking money from private investors may be the quickest and easiest way to fund your firm. When dealing with individual investors, you have a tremendous amount of leeway in how you structure the investment. You can choose whether or not the funding will be debt or equity, and you can vary the terms and repayment schedules as part of the investment deal.

Traditionally, many entrepreneurs have sought funding from family and friends. However, other professionals that you do business with may be more than willing to invest in your business. These investors-in-waiting can include your accountant, lawyer, or even a major supplier or customer for your new business.

For example, when Jane Smith needed $7,500 to start her business, she asked her major supplier and the company she wanted to be her first customer to consider investing in the fledgling firm. The supplier invested $2,500, and the customer offered $5,000. Jane structured the investments as convertible notes. For the first two years, the investors were paid a fixed amount of interest. At the end of two years, the investors were offered the option to convert the note to a specified amount of stock, or request repayment over an additional two year period.

Another example: When Bob Smith wanted to open a sailboat rental concession, he raised money by selling lifetime memberships in the club for $750. Each lifetime member was offered free sailboat rental as an incentive to invest. This example of creative financing gave sailors that didn't want to buy boats a way to enjoy sailing with considerably fewer expenses and less hassle. However, Bob had to carefully calculate the number of lifetime memberships he sold so he could raise enough capital, but not jeopardize future profits by selling so many memberships that the concession would be flooded with lifetime members - preventing paying customers from renting boats.


Traditional Lenders

Traditional lenders -- including banks, mortgage companies, savings and loans, credit unions, and the like -- offer a wide variety of loans for businesses. Types of loans offered include everything from asset-based revolving lines of credit to short term loans and construction loans.

The types of loans and conditions under which a lender will make a loan differ from bank to bank, so it is generally a good idea to do some research before applying for a loan. Not only will you want to consider exactly what your needs are, you also will want to consider the interest rate available and repayment schedule on the type of loan you want.

Begin your research by calling several lenders and asking what types of loans they offer. For information on Small Business Administration (SBA)-backed loans, read the next section.

After you have gathered information about the types of loans available, consider the needs of your business - and your ability to repay the loan. You'll need to provide this information to any potential lender.

For tips on getting your loan application approved, read Six Steps You Can Take to Help Ensure the Banker Approves Your Loan and Questions to Consider Before Meeting with a Lender/Investor.


Small Business Administration (SBA)

The Small Business Administration (SBA) was founded to help small businesses secure funding that otherwise might not be available.

The SBA offers several programs that can help a company secure financing, as well as develop and grow. Programs include: the 7(a) Loan Guarantee Program; Certified Development Company Program (503/504); CAPLines Loans; DELTA Program; Export Working Capital Program; FA$TRAK Loan Program; International Trade Loan Program; LowDoc Loan Program; MicroLoan Program; Minority and Women's Prequalification Pilot Loan Program; Small Business Investment Company Program; Certified and Preferred Lender Program; SCORE; and Small Business Technology Development Centers, among other assistance available.

Overviews of the programs listed below may be found in Sections D and E of this chapter. Be sure to read through the descriptions of each program - your business may be able to benefit more from one of the less well-known programs.

7(a)Loan Guarantee Program

Seasonal Line of Credit Program

Export Revolving Line of Credit Program

Small General Contractors Loan Program

Guaranteed Loans to Qualified Employee Trusts Program

International Trade Loan Program

Contract Loan Program


SBA: 7(a) Loan Guarantee Program

The 7(a) Loan Guarantee Program represents about 80 percent of the financial assistance supported by the Small Business Administration (SBA). The program guarantees loans offered to small business by traditional lenders. This helps small companies that might otherwise have trouble getting funding from a bank or other lender by ensuring that the lender won't lose the full amount of the loan if the business fails. The SBA also offers a limited number of loans directly to small businesses.

The 7(a) program offers a variety of guaranteed loans, which are outlined below.

Guaranteed Loans

Guaranteed loans are issued by traditional lenders, such as banks, and are backed by the SBA. This means that if a business defaults, the SBA will pay a previously agreed-upon percentage of the loan to the lender.

The maximum that the SBA can guarantee is $750,000, which represents a 75 percent guarantee of a $1 million loan. However, the SBA can guarantee 90 percent of loans under $155,000. In general, the SBA can guarantee up to 85 percent of loans over $155,000 as long as SBA liability does not exceed the $750,000 cap. The minimum amount that the SBA can guarantee is 70 percent.

Since the SBA is offering a guarantee, it puts restrictions on who can borrow and how the loan will be used. For more information, see Who Is Eligible for SBA Loans.

In addition to standard guaranteed loans, the SBA also offers several specialized loan programs, including the Contract Loan Program, the Seasonal Line of Credit Program, the Export Revolving Line of Credit Program, Small General Contractors Loan Program, Guarantee Loans to Qualified Employee Trusts, and International Trade Loan Program. These programs are outlined below.

The Contract Loan Program offers guaranteed loans to small businesses for the short-term financing of labor or materials needed to fulfill a specific contract. To get this type of loan, a business must have been in operation for 12 months, and must be in the construction, manufacturing, or a related service business. All labor hired under this loan plan must be employees of the company, and all payroll taxes must be paid for these workers.

The Seasonal Line of Credit Program is open to all small businesses that have been in operation for 12 months, have been unable to secure financing without the SBA guarantee, and have seasonal capital deficiencies (for example, a manufacturer of Christmas tree ornaments may experience slow sales in February-May). The maturity for these loans must be 12 months or fewer.

The Export Revolving Line of Credit Program is designed to help exporters purchase goods or services for export to a foreign market. To qualify, the small business must have been in operation for 12 months and be in the export, manufacturing, or wholesale businesses. Loan proceeds can finance labor or materials, provided that labor be treated as employees and all payroll taxes are withheld. Loan maturity cannot exceed 18 months.

The Small General Contractors Loan Program offers money to help finance the construction or renovation of residential or commercial buildings. Loan maturity cannot exceed 36 months over the construction or renovation period. The loan can only be spent on acquisition, construction or renovation of the structure. The structure must be used as collateral.

The Guaranteed Loans to Qualified Employee Trusts allows the trust to lend funds to the employer. To be eligible, trusts must be qualified under the Internal Revenue code (as an Employee Stock Ownership Plan) or Department of Labor requirements (Employee Retirement Income Security Act). Collateral must include the assets of the employer.

As part of the International Trade Loan Program, the SBA will guarantee loans to companies that wish to engage in international trade or compete with imports that have begun to erode their competitive position in the market. To be considered, the firm must submit a business plan complete with profit and loss projections or financial statements and narrative that explain how imported items have negatively affected the market. The maximum guarantee on these loans is slightly higher than other guaranteed loans: $1,250,000. No more than $1 million can be used to finance facilities and equipment, and no more than $250,000 can be used as working capital. The working capital portion must be repaid in seven years; the rest can be repaid in up to 25 years.


SBA: Other Programs

Certified Development Company Program (503/504)
Under the Certified Development Company (CDC) Program, nonprofit corporations established to help bolster the economic development of their community or region work with the SBA to provide fixed asset financing to small businesses for construction or renovation of owner-occupied or leased structures.

The idea behind the program is to allow small businesses to create and retain jobs, and the CDC involved in the project must create or retain one job for every $35,000 that it receives from the SBA.

Under terms of the program, a traditional lender or a non-federal governmental institution must provide a loan for at least 50 percent of the project cost. The SBA provides a second loan for up to 40 percent of the project cost or $750,000, whichever is less.

Loans must be used for fixed-asset projects, such as buying and improving land or buildings, improving streets, and similar jobs. Maturity ranges from 10-25 years and interest rates are fixed. Properties being renovated or constructed generally are used as collateral.

To receive a loan as part of this program, the small business must have a net worth of less than $6 million and net profits of less than $2 million (after taxes).

MicroLoan Program
The MicroLoan program is designed to offer very small loans to small businesses. Loans are offered either directly or through nonprofit companies that in turn offer the loans to borrowers. The average loan size under the program is $10,000, although loans are available for up to $25,000. The maximum maturity for such loans is 6 years.

There currently are 35 MicroLoan programs offered in just a few states, including: Arkansas, Illinois, Iowa, Kentucky, Maine, Minnesota, New Hampshire, New York, North Carolina, Pennsylvania, South Carolina, Wisconsin, Arizona, Missouri, Vermont, Mississippi, Alaska, Indiana, and California.

To apply for a loan, companies must apply directly to an intermediary lender - not to the SBA. Call your local SBA office for more details.

CAPLines Program
The CAPLines program is designed to help small businesses meet their short-term or seasonal working capital needs. There are five different loans offered as part of this program:

Seasonal Line. This loan program offers advances against anticipated inventory and accounts receivable during off-peak season.

Contract Line. This program helps finance labor and material costs associated with performing contract work.

Builders' Line. General contractors or builders that qualify as small businesses can finance labor and material costs related to building or renovating residential or commercial buildings.

Standard Asset-based Line. Businesses unable to meet credit standards generally associated with long-term loans can apply for this asset-based revolving line of credit. It can help with seasonal or short-term needs. To repay the loan, borrowers convert short-term assets into cash.

Small Asset-based Line. This program offers an asset-based revolving line of credit of up to $200,000. Some of the stricter standards generally implemented under traditional lenders are relaxed for this loan. See your lender for details.

DELTA Program
The DELTA Program is a joint program offered between the SBA and the Department of Defense designed to provide financial and/or technical assistance to defense-dependent small firms. Loans offered under the program must: retain defense workers whose jobs would otherwise be in jeopardy as a result of defense spending reductions; create new jobs in areas where defense cuts have adversely affected the area; and/or retool defense-oriented plants.

DELTA Program loans can fall under the guidelines of either the 7(a) program or the CDC program. As a result, the maximum loan ranges from $1.25 million under the 7(a) program or $1 million under the CDC program. If both types of loans are used, the amount borrowed cannot exceed $1.25 million.

To receive a DELTA program loan, applicants must meet SBA size standards; have at least 25 percent of revenues from Defense Department contracts; and have been adversely affected by defense spending reductions, be in a community adversely affected by defense reductions, or be modernizing facilities to diversify.

Export Working Capital Program
The Export Working Capital Program is offered jointly by the SBA and the Export-Import Bank. It provides short-term capital to exporters. To qualify, exporters must have been in business for a full year by the time of application.

Loans for $833,333 or less are processed by the SBA, while loans of more than $833,333 are processed through the Export-Import Bank.

The program has a separate, one-page application form and requires only streamlined documentation. It generally can provide turnaround of the application in 10 days.

FA$TRAK Loan Program
This program currently is being tested only with a select number of lenders. Under the program, these test lenders are authorized to use existing documentation and procedures to make and service an SBA guaranteed loan of less than $100,000. For more information, contact your local SBA office.

Green Line Revolving Line of Credit
This program, founded in 1994, offers a revolving line of credit to cover cyclical, recurring, short-term needs that businesses experience. The term can last as long as five years, allowing businesses to borrow and repay as much as the cash cycle dictates.

Almost any business that can qualify for an SBA loan can qualify for a GreenLine loan. Owners must show particularly good character, management ability and commitment, and the ability to perform and generate profits to qualify for the loan.

Loans can be guaranteed for up to $750,000. Loan funds can be used for operating capital, inventory and consolidation of short-term debt. The loan must be secured by a first lien on assets being financed.

Minority and Women's Prequalification Pilot Loan Program
Designed to help women and minority business owners, this program offers assistance through non-profit organizations for women and through for-profit and non-profit groups for minorities. The groups help women and minorities fill out the loans, and the program offers expedited loans -- decisions are usually made within three days. An approval means that SBA will issue a letter of prequalification stating that SBA will guarantee the loan.

The maximum amount that can be loaned in the women's program is $250,000. Minority program participants can generally receive the same amount, although some districts have set other limits. Contact your local SBA Office for details.

Direct Loans

If a business cannot get an SBA-guaranteed loan from a lender, the company can solicit a direct loan from the SBA. These loans generally do not exceed $150,000, though under certain circumstances an SBA regional administrator can approve loans of up to $350,000-the maximum allowed by law. These certain circumstances include approving greater loan amounts for businesses located in areas with high unemployment.

Owners that fit into these categories will be eligible for either The Veterans Loan Program, the7(a) 11 Loan Program(for businesses in high unemployment or low-income areas), or the Handicapped Assistance Loan Program, which are outlined below:

The Veterans Loan Program is offered to veterans with 30 percent or more disability that were honorably discharged (or disability discharged). To qualify, the veteran must own at least 51 percent of the business.

7(a) 11 program offers loans to businesses in areas identified by the Department of Labor as having severe or persistent unemployment or to businesses that are at least 50 percent owned by low-income individuals.

The Handicapped Assistance Loan Program offers direct and guaranteed loans to profit-making small businesses that are 100 percent owned by a handicapped individual or nonprofit sheltered workshops for handicapped individuals where at least 75 percent of the staff hours are provided by handicapped individuals.

To get direct loans from these programs, a company must first try to obtain financing from at least two traditional lenders.

Immediate Participation Loans
This type of loan is made jointly by the SBA and a traditional lender. The loan is structured so that once the money is disbursed, either the lender or the SBA purchases an agreed-upon share of the loan. The loan will then be serviced by whichever - the SBA or the lender - has the greater share of the loan.

This type of loan only comes into play when a guaranteed loan is not available. SBA's participation is limited to $150,000 or 75 percent of the loan - whichever is less.

Members of the Small Business Administration's Certified Lenders Program (CLP) and the Preferred Lenders Program (PLP).

Small Business Investment Company (SBIC) Program Participants Alabama to Indiana.

Small Business Investment Company (SBIC) Program Participants Kansas to New York.

Small Business Investment Company (SBIC) Program Participants New York to Rhode Island.

Small Business Investment Company (SBIC) Program Participants South Carolina to West Virginia.

National Venture Capital Clubs.


SBA: Who Is Eligible for SBA Loans

Most types of businesses can apply for SBA loans as long as they meet the general SBA definition of a small business.

Small businesses are generally defined as: retail businesses with less than $13.5 million in sales; construction businesses with less than $17 million in sales; agriculture businesses with less than $3.5 million in sales; wholesale businesses with less than 100 employees; or certain kinds of manufacturing businesses with less than 500-1,500 employees (what is being manufactured is significant in determining whether or not the firm is a small business). To ensure that your business is small enough to qualify for an SBA loan, be sure to check with your local SBA office.

There are several types of businesses that are not eligible for SBA loans, regardless of size. These include:

 1) Real estate investment firms.
 2) Companies involved in the distribution or creation of ideas, thoughts, values, or opinions.
 3) Cable TV systems broadcasting live stations or that select what programs can be shown.
 4) Schools, unless they are for technical, secretarial, vocational or trade training.
 5) Auto floor planning firms.
 6) Speculative firms (including wildcatting for oil, dealing in commodities futures, dealing in rare coins and stamps, etc.).
 7) Lenders or other firms whose "stock in trade is money."
 8) Pyramid sales plans.
 9) Gambling establishments or businesses whose primary activity is gambling.
 10) Non-profit endeavors, including those organized for charitable or religious purposes.
 11) Any business engaging in illegal activities.
 12) Any business with a principal owner in prison, on parole, on probation, or a defendant in a criminal proceeding.

In addition, some types of businesses must meet additional guidelines to receive funding. These include:

 1) Franchises. The franchisee must have the right to profit from their efforts and not be tightly controlled by the franchiser to qualify for SBA assistance.
 2) Recreational facilities and clubs. The facilities must be open to the general public or membership cannot be exclusive for these companies to qualify for SBA loans.
 3) Farms and agricultural businesses. These businesses must first seek assistance from the Farmers Home Administration (FmHA) before they will receive SBA help.
 4) Fishing vessels. If the vessels will contain more than five tons of cargo capacity, these companies must first seek financing from the National Marine Fisheries Service.
 5) Medical facilities. All facilities, including nursing homes, must be licensed by appropriate government agencies and offer more than simply room-and-board services.
 6) Holding companies. These firms must meet very strict guidelines, including how the money will be used, what size the firm is, and other criteria. See your local SBA-guaranteed loans can be used for most business purposes except:

 1) Real estate for investment purposes.
 2) To pay delinquent withholding taxes.
 3) To pay owners.
 4) To pay existing debts unless the need for refinancing is due to considerations other than poor management.
 5) To effect a change in ownership (this is not strictly forbidden - see your local Fixed-rate SBA loans cannot have an interest rate higher than prime plus 2.25 percent if the maturity is less than seven years (the maximum for working capital loans) and prime plus 2.75 percent if the maturity is more than seven years (loans for machinery, equipment, and buildings can run up to 25 years).

For loans of less than $25,000, the rate cannot exceed prime plus 4.25 percent for less than seven year maturity and 4.75 percent for a greater than seven year maturity. Lenders can charge less than the percentages set by the SBA; see your lender for specific rate information.


SBA How to Apply for Loans

To apply for Small Business Administration (SBA) or other loans, you must have a carefully written business plan complete with financial projections and an explanation of how loan funds will be used and repaid.

You should first take this plan to a traditional lender and seek a traditional loan. If the lender will not make the loan, then ask the lender to consider making the loan under the SBA guarantee plan. If the lender agrees, then you will have to complete a formal application. The lender will forward the application to the SBA.

Generally, the SBA will deal only with the lender, not with you. Since you won't be given an opportunity to speak directly to SBA representatives, you'll want to take extra care to ensure your business plan and application can speak for you and say exactly what you want.

There are several forms you may need during the application process. These can be obtained from your lender, your local SBA office , or the SBA web site (http://www.sba.gov), each of which can also tell you when you'll need each form. The forms include:

Form Number and Form Name

4 (Required) Application for Business Loan

912 (Required) Statement of Personal History

1261 (Required) Statement Required by Law and Executive Orders

1624 (Required) Certificate Regarding Debarment, Suspension, Ineligibility and Voluntary Exclusion - Lower Tier Covered Transactions

4 Application for Small Business Loan (Short Form)

4a Schedule of Collateral

4-I Lenders Application for Guarantee

413 Personal Financial Statement

529B Authorization and Loan Application

601 Agreement of Compliance

641 Request for Counseling

750 Loan Guaranty Agreement

1100 Monthly Cash Flow Projection

147 Note

148 Guaranty

159 Compensation Agreement for Services in Connection with Application and Loan

1050 Settlement Sheet

152 Participation Certificate

1149 Transcript of Account

1175 Quarterly Guaranteed Loan Status Report


Venture Capitalists

Venture capitalists are companies that create a fund (generally consisting of money from individual or corporate investors) that is used to make equity investments in small, high-growth companies.

Venture capitalists generally want to buy a stake in a company for about 5-10 years - then they want to be bought out. Buyouts generally occur when a company goes public or is acquired by a larger firm. In some cases, owners also can plan to buy out the capitalist.

Since venture capitalists are not long term investors and since they expect to profit on their investment, they are very selective when deciding which companies to fund. Venture capitalists generally fund one out of every 100 or so companies based on the plans that are submitted to them.

To decide which company they will choose to fund, venture capitalists employ an exhaustive round of due diligence. During due diligence, the venture capitalist will want to talk in a very detailed fashion about your sales projections, financial situation, forecasts, market trends, management ability and more - the venture firm will not hesitate to ask any question, and often will ask questions strictly to see how your respond. Since venture capitalists are taking a large risk by investing in your company, they want to ensure that they will eventually make a substantial return when they sell the equity in your firm.

The most important piece of information that a venture capitalist will be interested in is how - and how soon - they will profit.

To improve your chances of being that one company out of 100, you need to be thoroughly familiar with the venture capitalist you plan to approach - and be well-versed in the types of businesses the fund generally supports.

Venture capitalists tend to specialize in particular industries, and generally have a preferred size for an investment. It pays to do research ahead of time to ensure that you approach the right firm.

You can begin your research by talking to colleagues, reviewing notices in the business section of the local paper, and by calling the venture capitalist to ask general questions. Concentrate on finding the firm that best fits your business and plans - not just the first that answers the phone.

Once you determine which venture capitalists tend to invest in companies in your industry and tend to invest an amount that you are seeking, you need an introduction. Venture capitalists are bombarded every day with hundreds of requests; it is important that yours stands out. An introduction from a respected member of the community always helps. Consider your accountant or lawyer; these types of professionals tend to make having these sorts of contacts a part of their business.

When dealing with the firm, act and dress for success. Although venture capitalists consider themselves innovative and open-minded, most are established businessmen with distinctive careers who may not appreciate unprofessional behavior or appearance.

Finally, do not shop your plan around too much. Venture capitalists tend to know each other and discuss potential companies - you don't want to seem too desperate.

A good place to learn more about venture capitalists are venture capital clubs. Venture Capital Clubs offer opportunities for entrepreneurs and investors to meet. Generally, these clubs hold meetings each month to discuss different investment opportunities. Many clubs also invest in businesses.

Local councils of economic development and local universities also are excellent sources of information about local venture capitalists. These councils often hold meetings or fairs where entrepreneurs can meet potential investors.

Some councils or universities also offer computerized "match-making" services. These services are usually operated as nonprofit ventures that bring together entrepreneurs requiring capital with investors seeking specific venture opportunities.

These matchmakers usually create profiles of investors and entrepreneurs from questionnaires. The answers are entered into a computer database. The entrepreneur's business plan is then evaluated, and data is entered based on the plan. Then the computer evaluates possible matches by linking specific investment criteria with compatible capital needs.

When a match occurs, the matchmaker provides the potential investor with a brief profile of your business. Up to that point, all identities are kept confidential. If the investor responds positively, then the matchmaker reveals the entrepreneur's name to the investor. The entrepreneur is given the name of the potential investors as well.

An example of such a service is the Confidential Investors Network, Inc. at the Missouri State Department of Economic Development. The network is geared toward small investors who want to invest as little as $5,000 at a time. It spreads the risk of each investor among a broad-based group of individuals in the community. Similar programs also exist in other states, and many will match investors offering up to $100,000.

Matchmakers usually provide a quarterly status report of all activities and summary of the comments provided by investors who have reviewed your business proposal. During the entire period of enrollment (normally one year), the matchmaker will continuously match for you as new investors participate in the program.

The cost of subscribing to a network like this usually ranges from $100 to $300 annually.


Six Steps You Can Take to Help Ensure the Banker Approves Your Loan

1) Build a relationship with your banker.
One of the easiest ways to dramatically increase your chances for loan approval is to build a good relationship with a banker (or two!) before you ask for a loan. Once a relationship is established, the banker can help advise you on who to contact, how to go about applying for a loan, and provide an insider's perspective on the process. In some cases, the banker may take a special interest in your application and put in a good word for you with the loan department - which helps your application stand out from the rest of the pile on the loan officer's desk. With a banker willing to vouch for your character and integrity, the loan officer may be more inclined to approve your application.

2) Choose a bank carefully.
Don't just drop into the most convenient bank to try your luck at getting a loan - do some research first. Ask business colleagues, mentors and others where they got a loan or do their corporate banking. Ask if they are pleased with the service and satisfied with the loan process.

After you get some input, call the banks that you have heard good things about and ask what types of loans are currently available. Banks sometimes change the types of loans they offer, so it pays to investigate the types of loans available before you go to the bank. You also should investigate the types of checking, savings, safe deposit, credit card, and other services the bank offers. Banks that extend a loan to you may want to gain this business as well, and being willing to sign up for these services may help get your loan approved.

3) Try to get a personal introduction or recommendation.
After you decide what bank to approach, try to find someone who is a good customer of the bank to introduce you to the banker. The introduction can be as simple as a phone call to the banker explaining that "I spoke to George Porge today and suggested he contact you about your services. He should be in today."

If possible, it is even better to have the person offer a recommendation for you. This also can be simple: "I spoke to George Porge today and suggested he contact you about your services. He's a really good guy with a great new business that I think could become a good account for you. I told him to stop by and talk to you about banking services that you offer before he signs on with another bank. He should be in today."

Having a personal introduction or recommendation alerts the bank that you are coming and allows the banker time to prepare. More importantly, having a recommendation from a good customer also gives you instant credibility and makes the banker feel more comfortable with you.

4) Dress properly every time you go to the bank.
Even though casual dress is popular in the workplace, lenders still tend to prefer more formal attire. Dress conservatively and cleanly every time you go to the bank - resist the temptation to run into the bank to drop off a form while painting your new office. Bankers will pay attention to you every time you go to talk to them, and they are looking for a serious, business-like, conservative professional to lend money to.

5) Be prepared for every meeting.
You must be calm and collected for every meeting. Do not provide all your documents at the first meeting; simply carry on a conversation by asking about the loans that they have (although you already have investigated this in advance). Interview the banker without intimidating him or her. Always look the banker in the eyes; do not look around and do not bring anything along that would distract or annoy the banker, such as children, pets, cellular phones, beepers or packages. Speak honestly and softly, and be prepared to respond to any questions that could be asked. Have a friend or coworker quiz you before you go to the bank so you can answer confidently.

6) Invite the banker to visit you at your place of business.
Suggest an appropriate time for the banker to visit your office, shop or job site to show him or her what your business is all about. This will help convince the banker that you are serious and will help build rapport. Make sure that the office, shop or job site is clean (no stacks of empty cartons, mess on the floor or food trash lying around) and that employees are dressed cleanly and neatly. Although this may seem like common-sense advice, bankers deny more loans than they approve, and most have many, many stories about inappropriate behavior or attitudes that discouraged them from approving a loan.


Questions to Consider Before Meeting With a Lender/Investor

Any lender or investor you approach for funding will evaluate your strengths and weakness as the owner or manager of your business. Below are several questions that lenders or investors may ask you when evaluating your ability to run your business. Consider your answers carefully; the answers could be deal makers -- or deal breakers.

1) How well do you get along with different personalities?
Business owners must develop a working relationship with a variety of people including lawyers, accountants, bankers and clients. Can you deal with a demanding client or an unreliable vendor in the best interest of your business?

2) Do you have the stamina to run a business?
To run your own business is a lot of work. Can you face twelve-hour workdays, six or seven days a week? You must have physical and emotional perseverance.

3) How good are you at making a decision?
Often you are required to make quick decisions under pressure and independently.

4) How well do you plan and organize?
Organization of finances, inventory, schedules, production, etc. can help avoid potential pitfalls. Many business failures could have been avoided through better planning and organization.

5) Is your drive strong enough to maintain your motives?
A leader must have a strong drive to avoid feeling burned out by carrying all responsibilities on their own shoulders.

6) Will your spouse or mate support you?
The first few years of business start-up can be hard on your family. The strain of a non-supportive spouse may be hard to balance against the demands of starting or expanding business. There are usually financial difficulties for a few months or years until a business becomes profitable. You and your spouse must be ready to adjust to a lower standard of living and understand that you may be putting your family assets at risk on a daily basis.


Seven Important Questions the Lender Will Ask

1) How much money do you want?
Decide how much money you need to borrow for a specific purpose - before you go to the bank. This will take some careful thought and research into exactly what you hope to buy with the money (equipment, personnel, another firm) and how much it will cost. It's best to be as precise as possible. For example, if you want to set up an Internet business and you need a web server, tell the bank the specifications and brand of the server, not just that you want "a server." Your banker will double check your figures and prices, so be prepared to explain your choices and your overall plan.

2) What are you going to do with the money?
As far as the bank is concerned, there are only four ways to spend cash from a loan: 1)You can buy new assets; 2) Pay off old debts; 3) Buy out a partner or associate; or 4) Pay for expenses (equipment and the like) needed to generate new revenue. Avoid saying that you are "just going to use the money for working capital." Although this is often listed as a choice on forms and in Small Business Administration documents, many bankers consider this answer a sign that you don't have a well thought-out plan.

3) Why is this loan good for your business?
It may seem like a very obvious question, but lenders have a limited amount of money available for small businesses. The lender wants to give this money to support businesses that have well thought-out plans and that represent a low risk for default. Be prepared to discuss in detail what the money will do for you -- not just what you plan to spend it on, but what spending the money will mean for you from a competitive and growth standpoint. Don't forget to explain why your business represents a good risk.

4) Why do you need the bank's money to implement your plan?
The thinly veiled question here is, "Why don't you have enough money of your own to do this?" In this case, the lender is trying to find out whether an internal management problem is to blame for your financial need, or whether there are other reasons (such as to support rapid growth). If you have prepared a careful answer to question #3, this question will be easy to answer. Don't get flustered; emphasize the benefits of the loan to your company's competitive position and growth plans.

5) When will you pay the loan back?
When the lender asks this question, he or she is expecting to see a cash flow projection that clearly indicates that the business will bring in more money than it spends so that the loan can be repaid in a timely fashion. This statement will be most effective if you have a positive cash flow in the months or years prior to applying for the loan. To demonstrate this, you'll want to provide historical data as well as future projections.

6) How will you repay the loan?
When you answer this question, don't be vague. Use your financial projections and your business plan to convince the banker of the long-term profitability of your business. Be prepared to supply a copy of your business plan, complete with financial projections.

7) What happens if your plans don't work out or your projections are off?
This is why many banks require collateral and personal guarantees (putting up personal assets to guarantee a loan). In answering this question, you'll want to assure the banker of the value of your collateral in case your projections are not correct. While entrepreneurs are generally positive about their chances of success, bear in mind that bankers are inevitably somewhat skeptical.

A Note About Collateral: Real estate (owner-occupied or commercial) that is used as collateral must be appraised by a third-party appraiser for loans of $50,000 or more. Other types of collateral include marketable securities, equipment, vehicles, boats, stocks, bonds, and similar items. Without sufficient collateral, a bank will often require the owner to offer a personal guarantee - meaning that the owner will tie his or her personal assets to the business for the purposes of the loan. The loan officer does this because he or she figures that while you might sacrifice your business in bankruptcy, you will think twice before you give up your personal assets.


Before You Go to the Bank: Check Your Credit Rating

Before applying for any loan, it is a good idea to check your personal and/or business credit history to make sure there are no unfavorable items on the report. This is essential, because running a credit check is the first thing that a loan officer will do after receiving your loan application. If there is anything negative on your credit report, it could make it more difficult for you to get a loan.

There are three major credit bureaus that most banks get reports from. These are:

TRW Consumer Credit Service
12606 Greenville Ave.
P.O. Box 749018
Dallas, Texas 75374
(800) 422-4879

Trans Union Consumer Relations
1561 E. Orange Thorpe Ave.
Fullerton, CA 9263
or
760 Sproul Rd.
P.O. Box 403
Springfield, CA 19064-0403
(216) 779-7200
(800) 851-2674

Equifax Credit Information Services
P.O. Box 740256
Atlanta, GA 30374
(800) 879-4094
(800) 685-1111

Each of these credit bureaus is required by the Federal Credit Reporting Act (FCRA) to tell you what is in your file - and to allow you to correct any errors on your record. You are entitled to one free credit report each year - if you ask for more, you may have to pay a fee. It's a good idea to order a report from each of the major credit bureaus. Mistakes could appear on one report and not another, and you cannot be sure from which vendor a bank will order a report.

How to Remove Unfavorable Items from Your Record
When you receive the credit report, look for possible errors in the file. Negative items that are not true or even partly untrue should be disputed. You also should dispute any vague, outdated, or misleading items.

To dispute any item, send a letter to the credit bureau. Some bureaus will accept phone calls about disputes. Whether you choose a letter or a phone call, be organized and level-headed when you assert your claim. It is a good idea to check your records for evidence, such as canceled checks or letters, that can be used to prove a mistake was made. Be sure you have all of your facts straight and can present them in a precise, logical, brief fashion. Also, be prepared to send or fax a copy of your evidence.

By law, credit bureaus must investigate any disputed information and either issue a response to you or correct the problem within 30 days. If the source of the original, negative data does not respond to the credit bureau within 30 days, the bureau will remove the item from your report.

If your report was corrected, you may ask the credit bureau to send corrected copies to anyone that received a copy of your report within the last six months.

If mistakes were not made and there are negative items on the report, you have the option to insert a consumer statement explaining any item(s) on the report. The statement must be 100 words or fewer.

If you do have a less than sterling credit rating, it is a good idea to work on improving your rating. Consider taking out a small loan that is tied to your savings account. Be careful to make every payment ahead of the due date, and pay off the loan before the maturity date. This will show the banker that you can fulfill your obligations, and will increase his or her trust in you. This will make it easier to qualify for other, larger loans later.

IMPORTANT NOTE: Be extremely wary of credit repair agencies. If you consider using one, be sure to investigate it thoroughly in advance by calling the Consumer Fraud Agency of your state (and the state the agency is in, if it is in a different state), as well as the Better Business Bureau in the city the firm is located in. Many of these firms do little to repair your credit.


Start Your Document Preparation

The documents you need to submit to potential lenders or investors are critical. It is a good idea to have the documents mostly completed and to have all financial data and projections reviewed by an accountant before you start shopping around for your lender. To apply for a loan, you may need:

1) Application
2) Lender's application form.
3) Schedule of business debts (must agree with the latest balance).
4) Financial statements
5) Business financial statements (balance sheet and P & L statement) for the last 3 years (if applicable, including reconciliation of business net worth for the last 3 years). Opening balance sheet for start-up businesses.
6) Current financial statement dated within ninety (90) days of the date of application filing.
7) Personal financial statement by each partner (if partnership) or by each officer and each holder of 20% or more of the voting stock (if corporation).
8) List of aging account receivable, accounts payable, and taxes payable (must agree with the latest balance sheet).
9) One-year cash flow, itemized month-by-month with projection earnings. A narrative should be included explaining how the figures were attained.
10) Resume of principals and/or a statement of personal history.
11) Business plan and history of business.
12) Personal and business federal income tax returns (3 years).
13) Miscellaneous documents, including:
   a) Personal credit reports principals (Bankers will get this, but you should check it before).
   b) Business credit reports (Banker will get this, but you should check it before).
   c) Copy of proposed lease terms.

It is a good idea to begin preparing these documents prior to applying for a loan. During the loan process, you may want to use this checklist to help you organize your loan package.


Checklist of Documents You'll Need to Apply for a Loan

ALL LOANS

___ Most current financial statement for the business. (Many lenders have their own form that they'll want you to use to present this information. Ask the lender for a copy of this form and use that to display your financial statement.)

___ Income tax returns for the last two (2) years for the business. (Include reasonable supporting schedules, such as depreciation schedules or other lists of tangible property used in the business.)

___ Other business records, such as aged accounts receivable and accounts payable reports, lists of property owned by the business, lists of inventories, etc.

___ Personal, current financial statement. (Many lenders have their own form that they'll want you to use. Ask the lender for a copy of this form and use that to display your financial statement.)

___ Personal income tax returns for the past two years. (Unless your company has a long operating history and substantial assets, you should expect the lender to require the individual guarantee of the principal owners of the business. Generally, lenders will want to see two years' worth of income tax returns.)

___ Current business plan or other specific explanation of how you plan to use the loan proceeds. (It is hard to put a specific definition on this document. In most cases, you will be borrowing money for specific purposes: to start a new business; to build, buy, or upfit space; to purchase or lease vehicles; to finance inventory or for working capital. Whatever the purpose, including a detailed description of the use of proceeds is advisable.)

___ Resumes of the company's principal owners and managers (even if not owners). (The object here is to show that owners and managers have sufficient experience to successfully operate the business.)

___ Copies of any important business contracts. (Include copies of space or vehicle leases and copies of any other notes, mortgages, or security agreements including a recent statement from the lender showing the payoff.)

___ Depending on the size of your company, you may want to include a list of employees, their duties and salaries, including any rights or bonuses or equity promised. As a general rule, this is advisable if payroll is a significant expense for the business or if any employees have long-term (one-year or more) contracts.

SPECIAL SITUATIONS:

___ If you are buying a business, contracting a building, upfitting leased space, buying vehicles, etc., include a copy of the Purchase Agreement, Construction Agreement, etc.

___ If you are building anything, include copies of drawings of the improvements.

___ If you are buying commercial or residential rental property, include a rent roll showing the current rent and other charges and the status of any leases.


Small Business Administration's Certified Lenders Program and Preferred Lenders Program

The main benefit of applying for a loan with a member of the Small Business Administration's Certified Lenders Program is faster turnaround on loan applications received from lenders in the program. Most applications submitted by certified lenders are approved or denied by the SBA within three days. To become a member of the Certified Lenders Program, lenders must prove that they can submit complete, accurate, and fully analyzed loan guarantee applications.

Members of the Preferred Lenders Program also help streamline the loan process. PLP lenders can determine applicants' eligibility and approve SBA-guaranteed loans -- without first sending applications packages to the SBA. This can greatly reduce the amount of time it takes to get a loan.

In the lists below, PLP members have an asterisk (*) next to their name.

ALABAMA

AmSouth Bank, N.A.
AT&T Small Business Lending Corporation
Bank of Alabama
Compass Bank*
Farmers National Bank
First American Bank
First Commercial Bank
First Federal of Alabama, FSB
First Montgomery Bank
First National Bank of Florence
Home Bank
Money Store Investment Corp.
Peoples Bank & Trust Co.
Southland Bancorporation
South Trust Bank, N.A.
SouthTrust Bank of Alabama-Birmingham, N.A.
SouthTrust Bank of Calhoun County
SouthTrust Bank of Covington County
SouthTrust Bank of Dothan
SouthTrust Bank of Huntsville
SouthTrust Bank of Marshall County

ALASKA

Bank of America, FSB
Denali State Bank
First Bank
First National Bank of Anchorage
Key Bank of Alaska
National Bank of Alaska
Northrim Bank

ARIZONA

Bank of Arizona*
Bank One, Arizona*
First Interstate Bank of Arizona, N.A.
ITT Small Business Finance Corporation
M&I Thunderbird Bank
National Bank of Arizona*
Republic National Bank*

ARKANSAS

Arkansas Capital Corporation*
Arkansas State Bank
Bank of Pocahontas
Citizens Bank of Jonesboro
City National Bank of Fort Smith
Elk Horn Bank & Trust*
First Commercial Bank, N.A.
First Financial Bank
First National Bank
First National Bank Magnolia
First National Bank of Conway
First National Bank of El Dorado
First National Bank of Searcy
McIlroy Bank & Trust
Merchants National Bank
Metropolitan National Bank
National Bank of Arkansas
Simmons First National Bank
The Twin City Bank*
Worthen National Bank
Worthen National Bank of Arkansas
Worthen National Bank of Camden
Worthen National Bank of NW Arkansas
Worthen National Bank of NWA/Bentonville
Worthen National Bank of Russellville
Worthern National Bank of Hot Springs

COLORADO

Alpine Bank, Grand Junction
AT&T Capital Corporation
Aurora National Bank
Bank of Grand Junction
Bank One, Denver, NA*
Bank One, Fort Collins/Loveland, NA
Bank One, Montrose - Main
Colorado National Bank*
Durango National Bank
Eagle Bank
Emergent Business Capital, Inc.
First Commercial Bank, N.A. dba
First Commercial Capital Corp.
First National Bank of Steamboat Springs
Golden Bank of Colorado
Grand Valley National Bank
ITT Small Business Finance Corp.
Key Bank of Colorado*
Norwest Bank Denver*
Norwest Bank Montrose, N.A.
Park National Bank
State Bank and Trust
The Bank
The Bank, NA
The First National Bank in Alamosa
The First State Bank of Hotchkiss*
The Money Store Investment Corp.
Vectra Bank*

CONNECTICUT

Centerbank*
First Bank of West Hartford*
First National Bank of New England*
Fleet Bank, N.A.*
Founders Bank*
LaFayette American Bank and Trust
Mechanics Savings Bank
Nutmeg Federal Savings and Loan Association

DISTRICT OF COLUMBIA

Adams National Bank
Allied Lending Corporation*
Franklin National Bank of Washington

DELAWARE

Beneficial National Bank
Delaware Trust Company*
Mellon Bank (DE), N.A
PNC Bank (Bank of Delaware)
Wilmington Trust Company*

GEORGIA

AT&T Small Business Lending Corp.
Bank Atlanta*
Bank South
Bankers First Savings Bank, FSB
Commercial Bank of Georgia*
Eastside Bank & Trust*
Fidelity National Bank
First Capital Bank*
First National Bank of Alma
First National Bank of Cherokee*
First South Bank*
First State Bank & Trust*
Georgia Bankers Bank*
Habersham Bank
Metro Bank
Middle Georgia Bank
Milton National Bank
Mountain National Bank
NationsBank of Georgia
Southern Crescent Bank*
SouthTrust Bank of Georgia, N.A.*
The Business Development Corporation of Georgia*
The Coastal Bank*
The Summit National Bank*
Tucker Federal Savings and Loan Association
Union County Ban

GUAM

None

HAWAII

Bank of Hawaii*
Central Pacific Bank*
City Bank
First Hawaiian Bank

IDAHO

American Bank of Commerce
Farmers and Merchants State Bank
First Interstate Bank of Idaho
First Security Bank of Idaho*
Key Bank of Idaho
West One Bank*

ILLINOIS

Albany Bank and Trust Company, N.A.
American National Bank and Trust Co.
Bank of Homewood
Bank One, Chicago
Bank One, Rockford
Bank One, Springfield
Banterra Bank of West Frankfort*
Busey First National Bank*
Central Bank*
Central Illinois Bank
Colonial Bank*
Commerica Bank - Illinois
Elliott State Bank*
Farmers and Merchants National Bank*
First Bank of Illinois
First Colonial Bank of DuPage County
First National Bank of Central Illinois*
First National Bank of Chicago*
First of America Bank-Illinois, N.A.*
First State Bank of Park Ridge
First State Bank of Pekin*
First Trust and Savings Bank*
Firstar Bank West, NA
Foster Bank*
Harris Bank Roselle
Harris Trust & Savings Bank*
ITT Small Business Finance Corporation
Magna Bank of Illinois
Maywood-Proviso State Bank
Merchants Bank of Aurora*
NBD Park Ridge Bank
Old Second National Bank of Aurora*
Oxford Bank and Trust
Palmer American National Bank
Pioneer Bank and Trust Company*
Plaza Bank Norridge
South Central Bank & Trust*
Soy Capital Bank and Trust Company
State Bank of Lincoln*
The Bank of Bellwood
The First National Bank of Blue Island
The Money Store
The South Shore Bank of Chicago*
Union National Bank & Trust of Elgin*

INDIANA

American National Bank
Bank IV Kansas, N.A.*
Bank IV Olathe
Bank of Western Indiana
Bank One Indianapolis
Busey Bank
Centier Bank
Citizens National Bank of Evansville
Commerce Bank & Trust
Emergent Business Capital, Inc.*
Emprise Bank
Emprise Bank, N.A.
Emprise Bank, N.A.*
Farmers Bank & Trust
Fidelity State Bank & Trust Company
First Citizens Bank, NA
First National Bank and Trust Company in Dodge City
First National Bank of Liberal
First National Bank of Neodesha
First National Bank of Olathe*
First Source Bank of Southbend
Fort Wayne National Bank
Grant County State Bank
Guaranty Bank & Trust*
Huntington National Bank of Indiana*
Intrust Bank
Intrust Bank
ITT Small Business Finance Corporation
Kansas
Mark Twain Kansas Bank*
Mercantile Bank of Lawrence
Metcalf State Bank
Midland National Bank
National City Bank
NBD Bank, Indiana
NBD Summit Bank
Society National Bank
The Money Store Investment Corporation
UMB Bank Kansas
Union National Bank
United Kansas Bank and Trust

KENTUCKY

Bank One, Lexington
Exchange Bank of Kentucky
Liberty National Bank
National City Bank*
Peoples Bank of Murray*
Pikeville National Bank & Trust Company*
PNC Bank - Kentucky*
The Fifth Third Bank

LOUISIANA

Bank of Gonzales
Bank of West Baton Rouge
Bayoulands Bank
Central Bank
City National Bank*
Commercial National Bank
First American Bank
First National Bank
First National Bank of Commerce*
First National in St. Mary Parish
Guaranty Bank and Trust Co.
Gulf Coast Bank and Trust Co.
Gulf Coast Bank*
Hibernia National Bank in Jefferson Parish
Jefferson Guaranty Bank
Metro Bank
Omni Bank
Pioneer Bank
Premier Bank, N.A.
Ruston State Bank
Schwegmann Bank and Trust Co.
Tri-Parish Bank
Whitney National Bank*

MAINE

Fleet Bank of Maine*
Key Bank of Central Maine
Key Bank of Maine*
Merrill Merchants Bank

MARYLAND

Annapolis National Bank*
Development Credit Fund, Inc.*
First National Bank of Maryland*
Key Federal Savings Bank*
NationsBank
Provident Bank of Maryland*
Signet Bank
Suburban Bank of Maryland*
The Money Store Investment Corp.

MASSACHUSETTS

AT&T Small Business Lending Corp.
Atlantic Bank and Trust Company
Bank of Boston - Connecticut*
Bank of Western Massachusetts
Bay Bank
Cape Cod Bank and Trust Company
Commerce Bank and Trust Company*
Danvers Savings Bank*
Enterprise Bank and Trust Company
First National Bank of Boston*
Flagship Bank & Trust Company*
Fleet Bank of MA, NA*
Lawrence Savings Bank
Massachusetts Business Development Corp.*
Norwood Cooperative Bank
Rhode Island Hospital Trust National Bank*
Rockland Trust Company*
Safety Fund National Bank
Shawmut Bank of Boston
The Money Store Investment Corp.
UniBank for Savings
USTrust

MICHIGAN

Chemical Bank - Bay Area*
Chemical Bank-Key State*
Chemical Bank-Midland*
Citizens Commercial and Savings Bank
Comerica Bank
First of America Bank-Michigan, N.A.
Michigan National Bank*
NBD Bank, NA
Old Kent Bank - Southwest
Old Kent Bank - Traverse City
Old Kent Bank*
The Empire National Bank of Traverse City*
United Bank of Michigan*

MINNESOTA

First American Bank Metro*
First American Bank of Alexandria*
First American Bank of Brainerd*
First American Bank of Breckenridge*
First American Bank of Detroit Lakes*
First American Bank of International Falls*
First American Bank of Willmar*
First American Bank Southwest*
First American Bank West*
First American Bank, NA*
First Bank National Association
First Bank, N.A.*
First National Bank of Pipestone
Firstar Bank of Minnesota, NA*
Heritage Bank*
Morris State Bank
Norwest Bank, Minnesota, NA*
Riverside Bank
Signal Bank, Inc.*
State Bank of Young America*
Zapp Bank

MISSISSIPPI

Bank of Mississippi*
Batesville Security Bank
Deposit Guaranty National Bank
First National Bank of Picayune
First Security Bank*
Hancock Bank
National Bank of Commerce of Mississippi*
Pike County National Bank
Sunbrust Bank
The Jefferson Bank
Trustmark National Bank

MONTANA

First Bank, NA
First Citizens Bank
First Interstate Bank of Commerce*
First National Park Bank
First Security Bank of Bozeman
First Security Bank of Missoula*
Flathead Bank of Bigfork
Montana Bank of Bozeman*
Montana Bank of South Missoula
Mountain Bank*
Mountain West Bank*
Norwest Bank Great Falls*
Norwest Bank Kalispell, NA
Norwest Bank Montana N.A.*
Norwest Bank Montana, NA - Butte South Office
Norwest Bank Montana, NA - Helena
Richland Bank and Trust
Security State Bank
Valley Bank of Helena*
Valley Bank of Kalispell
Yellowstone Bank

NEBRASKA

American National Bank
American National Bank
Douglas County Bank & Trust*
First Bank of Omaha
First National Bank of North Platte
FirsTier Bank, NA
FirsTier Bank, NA
Five Points Bank
Fremont National Bank and Trust Co.
National Bank of Commerce
Norwest Bank Nebraska, NA
The Washington County Bank
Union Bank and Trust Co.*

NEVADA

American Bank of Commerce
Bank of America Nevada
First Interstate Bank of Nevada, N.A.
First Security Bank of Nevada
ITT Small Business Finance Corp.
Kirkwood Bank and Trust Co.
Kirkwood Lending Center
Nevada State Bank
U.S. Bank of Nevada

NEW HAMPSHIRE

Bank of New Hampshire*
BayBank NH, N.A.
Centerpoint Bank
CFX Bank
Citizens Bank New Hampshire*
Concord Savings Bank
First Essex Bank, FSB
Fleet Bank-NH*
Granite Bank
KeyBank National Association*
NH Business Dev. Corp.
Primary Bank
The Berlin City Bank

NEW JERSEY

AT&T Capital Corporation*
AT&T Small Business Lending Corp.
Banco Popular FSB*
Bank of New York (National Community Division)*
Commerce Bank N.A. (Cherry Hill)*
CoreStates/New Jersey National Bank*
Farrington Bank
First Community Bank*
First Fidelity Bank, N.A. New Jersey
First Union National Bank*
Garden State Bank
Midlantic Bank*
National Westminister Bank NJ
New Era Bank
Prestige State Bank*
Summit Bank*
The Bank of Gloucester County
The Money Store of New York
The Ramapo Bank*
United Jersey Bank
United Jersey Bank*
United National Bank*
Valley National Bank*

NEW MEXICO

Bank of America, FSB
Bank of Santa Fe*
Bank of the Rio Grande, N.A.
Citizens Bank of Las Cruces*
First National Bank of Belen
First Security Bank of New Mexico N.A.*
First State Bank of Taos*
Lea County State Bank
Norwest Bank New Mexico, N.A.*
Sunwest Bank
Sunwest Bank of Albuquerque
The First National Bank of Farmington
The First National Bank of Tucumcari
United New Mexico Bank at Las Cruces
Western Bank
Western Bank of Clovis
Western Commerce Bank*

NORTH CAROLINA

AT&T SBLC
Bank of Granite
Bank of Mecklenburg
Branch Banking & Trust Company
Central Carolina Bank & Trust Company
Centura Bank
First Citizens Bank & Trust Co.
First Community Bank*
First Union National Bank
NationsBank Carolinas
Self-Help Credit Union
SouthTrust Bank
The Fidelity Bank
The Fidelity Bank
The Money Store Investment Corp.
The Vine Street Trust Company
Triangle Bank
United Carolina Bank*
Wachovia Bank of North Carolina*

NORTH DAKOTA

American State Bank and Trust Company
American State Bank and Trust of Dickinson
Bank Center First
Community First National Bank
Community National Bank
First American Bank Valley
First American Bank West
First International Bank and Trust of Fargo
First National Bank and Trust of Williston
First National Bank in Grand Forks
First National Bank North Dakota
First Southwest Bank of Mandan
First Western Bank of Minot
Liberty National Bank and Trust
Norwest Bank North Dakota, NA
State Bank of Fargo*
The First National Bank
United Bank of Bismarck

OKLAHOMA

BancFirst*
Bank IV Oklahoma, NA of Tulsa
Bank of Oklahoma, NA
Boatman's First National Bank*
Central National Bank
Community Bank and Trust
First Fidelity Bank, NA
First National Bank and Trust
First National Bank of Tonkawa
Liberty Bank & Trust Co. of Oklahoma City
Pioneer Bank & Trust*
Rockwell Bank, N.A.
State Bank and Trust
Stillwater National Bank and Trust Company*
Tulsa National Bank

OREGON

Bank of America, FSB
Bank of America, FSB
Centennial Bank
First Interstate Bank of Oregon, N.A.
Key Bank of Oregon*
Pacific Continental Bank
The Bank of Newport
The Money Store Investment Corp.
U.S. Bank of Nevada*
U.S. Bank of Washington*
U.S. National Bank of Oregon*
Western Bank

PUERTO RICO

Banco Bilbao Vizacaya of Puerto Rico
Banco Popular de Puerto Rico*
Banco Santander Puerto Rico*

RHODE ISLAND

Bank of Newport
Citizen's Bank*
Domestic Loan and Investment Bank
Fleet Bank - Rhode Island*
Home Loan and Investment Association
Home Loan and Investment Bank*
Rhode Island Hospital Trust National Bank

SOUTH CAROLINA

Bank of Charleston
Bank of Columbia
Business Development Corporation of SC*
Carolina First Bank
Emergent Business Capital, Inc.
First Citizens Bank & Trust Co.*
First National Bank
NationsBank of Kentucky, N.A.*
NationsBank of Tennessee, N.A.*
NationsBank of Texas, N.A.*
NationsBank, N.A.(South)*
NationsBank, N.A.*
Spartanburg National Bank
The Lexington State Bank
The Money Store Investment Corporation
Vine Street Trust
Wachovia Bank of SC

SOUTH DAKOTA

American State Bank
BankWest, N.A.
Dakota State Bank
Farmers & Merchants Bank
First Bank of South Dakota, N.A.
First Dakota National Bank
First Fidelity Bank
First National Bank
First National Bank
First National Bank in Brookings
First National Bank in Sioux Falls
First Premier Bank, NA
First Western Bank
Marquette Bank of South Dakota, NA
Norwest Bank Sioux Falls, N.A.
Pioneer Bank and Trust*
Rushmore State Bank*
The First Western Bank Sturgis
Western Bank

TENNESSEE

American National Bank & Trust Company
Brentwood National Bank
Citizens Bank*
First American National Bank, N.A.*
First Farmers & Merchants National Bank*
Marion Trust and Banking Co.
NationsBank of Tennessee*
The First State Bank of Jacksboro*
Third National Bank
Third National Bank of East Tennessee
Union Planters National Bank*
United American Bank*
Volunteer Bank and Trust Company

UTAH

Bank of Utah
Bank One
Brighton Bank
First Interstate Bank of UT
First Security Bank of Utah, N.A.*
Guardian State Bank*
Key Bank of Utah*
West One Bank, Utah*
Zions First National Bank, N.A.*

VIRGINIA

Allied Lending Corporation
Business Bank
Central Fidelity Bank
Commerce Bank*
Commonwealth Bank*
Crestar
NationsBank of Virginia, NA
Patriot National Bank*
Signet Bank/VA*
Suburban Bank of Virginia
The Business Loan Center
The George Mason Bank
The Money Store Investment Corporation

VERMONT

Bank of Vermont
Bank of Woodstock
Chittenden Bank*
Factory Point National Bank
First Vermont Bank & Trust
Franklin Lamoille Bank
Granite Savings Bank & Trust
Green Mountain Bank
National Bank of Middlebury
Northfield Savings Bank
The Howard Bank*
The Merchant's Bank*
The Money Store Investment Corporation
Union Bank*
Vermont National Bank

WISCONSIN

American National Bank - Fox Cities
Associated Bank Green Bay*
Associated Bank Lakeshore
Associated Bank Madison
Associated Bank*
Associated Bank, N.A.*
AT&T Small Lending Corp.*
Bank One, Wisconsin*
Baylake Bank
Community Bank
F & M Bank - Appleton
First Bank, Milwaukee
First National Bank in Manitowoc
First Western SBLC, Inc.*
Firstar Bank Milwaukee, N.A.*
Firstar Bank Wisconsin*
Grafton State Bank
M&I Bank Northeast
M&I Community State Bank
M&I First American National Bank*
M&I Fox Valley
M&I Marshall & Ilsley Bank
M&I Mid-State Bank
National Exchange Bank and Trust
Northwest Bank
Park Bank
The Money Store Investment Corp.*
The Money Store Investment Corp.*

WEST VIRGINIA

Bank One, West Virginia
Bank One, West Virginia, N.A.*
Huntington Bank Martinsburg
One Valley Bank of Morgantown, Inc.*
Wheeling National Bank*

WYOMING

First National Bank of Gillette
First National Bank of Powell*
First Security Bank of WY
Hilltop National Bank*
Key Bank of Wyoming*
Norwest Bank Wyoming*
Shoshone First Bank*
The Jackson State Bank

* Indicates members of the Preferred Lenders Program.


Small Business Investment Company (SBIC) Program Participants - Alabama-Indiana

ALABAMA

Alabama Capital Corporation
16 Midtown Park East
Mobile, AL 36606
(334) 476-0700
(334) 476-0026 (fax)

Alabama Capital Corporation offers asset-based loans and equity investments and prefers to deal with small businesses in southwestern Alabama. The average loan offered to a small business is $500,000.

FJC Growth Capital Corporation
200 Westside Square
Suite 340
Huntsville, AL 35801
(205) 922-2918
(205) 922-2909 (fax)

FJC Growth Capital Corporation offers loans with equity and prefers to deal with small businesses in the South and Midwest. Loans are from $350,000 to $500,000.

First SBIC of Alabama
16 Midtown Park East
Mobile, AL 36606
(334) 476-0700
(334) 476-0026 (fax)

First SBIC of Alabama offers asset-based loans with equity and prefers to deal with small businesses in southwestern Alabama. Loans average around $500,000.

Hickory Venture Capital Corporation
200 W. Court Square, Suite 100
Huntsville, AL 35801
(205) 539-1931
(205) 539-5130 (fax)

Hickory Venture Capital Corporation offers equity and convertible debt loans to businesses in the Mid-Atlantic states. Hickory prefers to offer loans to health care and security and crime prevention businesses. Loans range from $1 to $2 million.

Javelin Capital Fund, L.P.
1075 13th Street, South
Birmingham, AL 35205
(205) 975-7857
(205) 975-5807 (fax)

Javelin Capital Fund offers equity investments and loans in the Southeast. Javelin prefers to fund start-up businesses in health care, agricultural research, and other industries. Investments range from $500,000 to $2 million.

ARKANSAS

Small Business Investment Capital, Inc.
12103 Interstate 30
P.O. Box 3627
Little Rock, AR 72203
(501) 455-6599
(501) 455-6556 (fax)

Small Business Investment Capital offers a variety of loans to start-up companies and debt consolidators. The company prefers to serve supermarkets in Arkansas, Louisiana, Oklahoma, and Texas with loans of up to $230,000.

ARIZONA

First Commerce and Loan L.P.
1181 N. El Dorado Circle
Suite 208
Tucson, AZ 85715
(520) 298-2500
(520) 296-4449 (fax)

Sundance Venture Partners, L.P.
2828 N. Central Avenue
Suite 1275
Phoenix, AZ 85004
(602) 279-1101

CALIFORNIA

AVI Capital, L.P.
One First Street
Suite 12
Los Altos, CA 94022
(415) 949-9862
(415) 949-8510 (fax)

AVI offers equity investments as seed funding to high tech companies in California and on the West Coast. The average investment is $1 million.

Allied Business Investors, Inc.
301 W. Valley Blvd.
Suite 208
San Gabriel, CA 91776
(818) 289-0186
(818) 289-2369 (fax)

Allied offers loans to small businesses in Los Angeles. The average loan size is $50,000.

Ally Finance Corp.
9100 Wilshire Blvd.
Suite 408
Beverly Hills, CA 90212
(310) 550-8100
(310) 550-6136 (fax)

Ally Finance offers loans and equity investments to advertising, construction, and telecommunications businesses. The average loan/investment is $500,000.

Asian American Capital Corporation
1251 West Tennyson Road
Suite 4
Hayward, CA 94544
(510) 887-6888
(510) 887-6897 (fax)

Asian American Capital offers secured loans. The average loan ranges from $50,000 to $100,000.

Aspen Ventures West II, L.P.
1000 Fremont Avenue
Suite V
Los Altos, CA 94024
(415) 917-5670
(415) 917-5677 (fax)

Aspen Ventures offers equity investments to information technology companies in the West.

Astar Capital Corp.
9537 E. Gidley Street
Temple City, CA 91780
(818) 350-1211
(818) 443-5874 (fax)

BT Capital Partners, Inc.
300 South Grand Avenue
Los Angeles, CA 90071

BT Capital Partners offers equity investments to established small businesses. Investment sizes range from $5 to $25 million.

BankAmerica Ventures
950 Tower Lane
Suite 700
Foster City, CA 94404
(415) 378-6000
(415) 378-6040 (fax)

BankAmerica offers equity investments of up to $5 million to small businesses in the biotech, communications, or electronics industries.

Bay Partners SBIC, L.P.
10600 North De Anza Blvd.
Suite 100
Cupertino, CA 95014
(408) 725-2444
(408) 446-4502 (fax)

Bentley Capital
592 Vallejo Street
Suite 2
San Francisco, CA 94133
(415) 362-2868
(415) 398-8209 (fax)

Bentley Capital offers loans or equity investments of $200,000 on average to small businesses in the West.

Best Finance Corporation
4929 W. Wilshire Blvd.
Suite 407
Los Angeles, CA 90010
(213) 937-1636
(213) 937-6393 (fax)

Best Finance offers loans and equity investments to small businesses in California. The average loan is $50,000.

Calsafe Capital Corp.
245 East Main Street
Suite 107
Alhambra, CA 91801
(818) 289-3400
(818) 300-8025

Calsafe Capital offers up to $450,000 in loans and equity investments to established small businesses.

Canaan SBIC, L.P.
2884 Sand Hill Road
Menlo Park, CA 94025
(415) 854-8082
(415) 854-8127 (fax)

Canaan offers equity investments of up to $2 million to small businesses.

Charterway Investment Corporation
One Wilshire Building
624 South Grand Avenue
Suite 1600
Los Angeles, CA 90017
(213) 689-9107
(213) 689-9108 (fax)

Charterway offers loans that average from $100,000 to $450,000 to retail and wholesale businesses in Los Angeles County.

Draper Associates
400 Seaport Court
Suite 250
Redwood City, CA 94063
(415) 599-9000
(415) 599-9726 (fax)

Draper-Richards L.P.
50 Fremont Street
Suite 3500
San Francisco, CA 94105
(415) 284-8696
(415) 284-8132 (fax)

FNF Ventures, Inc.
17911 Von Karman
Suite 500
Irvine, CA 92714
(714) 622-4590
(714) 622-4159 (fax)

Far East Capital Corp.
977 N. Broadway
Suite 401
Los Angeles, CA 90012
(213) 687-1361
(213) 626-7497 (fax)

Far East offers loans and equity financing for California businesses. The average investment is $250,000.

First American Capital Funding, Inc.
10840 Warner Avenue
Suite 202
Fountain Valley, CA 92708
(714) 965-7190
(714) 965-7193 (fax)

First American Capital Funding offers loans to medical and health businesses in California. The average loan is $50,000.

Fulcrum Venture Capital Corporation
300 Corporate Pointe 380
Culver City, CA 90230
(310) 645-1271
(310) 645-1272 (fax)

Fulcrum Venture offers equity investments for expansion of existing manufacturing, communications and service businesses. The average investment is $500,000.

Hall, Morris & Drufva II, L.P.
26161 La Paz Road
Suite E
Mission Viejo, CA 92691
(714) 707-5096
(714) 707-5121 (fax)

Imperial Ventures, Inc.
9920 South La Cienega Blvd.
Inglewood, CA 90009
(310) 417-5409
(310) 417-5781 (fax)

Imperial Ventures offers debt or equity financing of less than $1 million to healthcare technology or financial services firms.

Jupiter Partners
600 Montgomery Street
35th Floor
San Francisco, CA 94111
(415) 421-9990
(415) 421-0471 (fax)

Jupiter Partners offers equity funding for expansion of high tech or medical technology companies on the West Coast. The average investment is around $250,000.

Kline Hawkes California SBIC, L.P.
11726 San Vicente Blvd.
Suite 300
Los Angeles, CA 90049
(310) 442-4700
(310) 442-4707 (fax)

Kline Hawkes offers equity funding to information technology, medical services, and other firms in California. Typical investments range from $3 to $7 million.

LaiLai Capital Corp.
223 E. Garvey Avenue
Suite 228
Monterey Park, CA 91754
(818) 288-0704
(818) 288-4101 (fax)

LaiLai Capital Corp. offers loans and equity financing for California businesses. The average investment is $150,000.

Magna Pacific Investments
330 North Brand Boulevard, Suite 670
Glendale, CA 91203
(818) 547-0809
(818) 547-9303 (fax)

Magna Pacific Investments offers loans and equity financing for hi-tech, medical/health, defense businesses and contractors. Typical investments range from $50,000.to $300,000.

Marwit Capital Company, L.P.
180 Newport Center Drive
Suite 200
Newport Beach, CA 92660
(714) 640-6234
(714) 720-8077 (fax)

Marwit Capital offers subordinated debt with equity financing for Western businesses. Typical investments range from $500,000 to $2 million.

Novus Ventures, L.P.
20111 Stevens Creek Boulevard
Suite 130
Cupertino, CA 95014
(408) 252-3900
(408) 252-1713 (fax)

Novus Ventures, L.P, offers convertible debt financing for information technology businesses in the West. Typical investments range from $400,000 to $1 million.

Opportunity Capital Corporation
2201 Walnut Avenue, Suite 210
Fremont, CA 94538
(510) 795-7000
(510) 494-5439 (fax)

Opportunity Capital Corporation offers debt with warrants, equity financing for manufacturing, healthcare and telecommunication businesses. The average investment is $300,000.

Opportunity Capital Partners II, L.P.
2201 Walnut Avenue, Suite 210
Fremont, CA 94538
(510) 795-7000
(510) 494-5439 (fax)

Opportunity Capital Partners II, L.P. offers debt with warrants and equity financing for manufacturing, healthcare and telecommunication businesses. The average investment is $1.5 million.

Pacific Mezzanine Fund, L.P.
2200 Powell St., Suite 1250
Emeryville, CA 94608
(510) 595-9800
(510) 595-9801 (fax)

Pacific Mezzanine Fund, L.P. offers loans and equity financing for Western U.S. The average investment ranges from $2 to $5 million.

Positive Enterprises, Inc.
1489 Webster Street, Suite 228
San Francisco, CA 94115
(415) 885-6600
(415) 928-6363 (fax)

Positive Enterprises, Inc. offers loans and equity financing of up to $150,000 for senior home care/rest homes and manufacturing businesses.

San Joaquin Business Investment Group Inc.
1900 Mariposa Mall, Suite 100
Fresno, CA 93721
(209) 233-3580
(209) 233-3709 (fax)

San Joaquin Business offers loans and equity financing for West Coast firms. The average investment ranges from $100,000 to $300,000.

Sorrento Growth Partners I, L.P.
4370 La Jolla Village Drive, Suite 1040
San Diego, CA 92122
(619) 452-3100
(619) 452-7607 (fax)

Sorrento Growth Partners I, L.P. offers loans and equity financing for Southern California medical, health, special retail communications and electronic businesses. The average investment is $2 million.

South Bay Capital Corporation
5325 E. Pacific Coast Highway
Long Beach, CA 90804
(310) 597-3285
(310) 498-7167 (fax)

Sundance Venture Partners, L.P.
Brian Burns, General Manager
10600 N. DeAnza Blvd., Suite 215
Cupertino, CA 95014
(408) 257-8100
(602) 252-1450 (fax)

Tangent Growth Fund, L.P.
944 Market Street, Suite 800
San Francisco, CA 94102
(415) 391-4722
(415) 397-0109 (fax)

UnionBanCal
Venture Corporation
445 South Figueroa Street
P.O. Box 3100
Los Angeles, CA 90071
(213) 236-4092
(213) 629-5328 (fax)

UnionBanCal offers loans and equity investments for expansion of communications, cable TV, television and radio businesses. The average investment is $1 million.

VK Capital Company
600 California Street, Suite 1700
San Francisco, CA 94108
(415) 391-5600
(415) 397-2744 (fax)

Walden-SBIC, L.P.
750 Battery Street, 7th Floor
San Francisco, CA 94111
(415) 391-7225
(415) 391-7262 (fax)
Walden-SBIC, L.P. offers equity investments as seed funding to businesses in the West. The average investment is $3 million.

Wells Fargo SBIC, Inc.
One Montgomery Street
West Tower, Suite 2530
San Francisco, CA 94104
(415) 222-1800
(415) 765-1569 (fax)

Western General
Capital Corporation
13701 Riverside Drive, Suite 610
Sherman Oaks, CA 91423
(818) 986-5038
(818) 905-9220 (fax)

Western General offers loans only for expansion of existing businesses. The average loan ranges from $100,000 to $300,000.

COLORADO

Hanifen Imhoff
Mezzanine Fund, L.P.
1125 17th Street, Suite 1820
Denver, CO 80202
(303) 291-5209
(303) 291-5327 (fax)

Hanifen Imhoff offers debt and equity investments for later stage, MBO/LBO, acquisition, manufacturing and distribution businesses in the West. The average investment ranges from $1 to $3 million.

CONNECTICUT

AB SBIC, Inc.
275 School House Road
Cheshire, CT 06410
(203) 272-0203
(203) 250-8005 (fax)

AB SBIC, Inc. offers loans for expansion of food store businesses in the North region. The average investment is $200,000.

Canaan SBIC, L.P.
105 Rowayton Avenue
Rowayton, CT 06853
(203) 855-0400
(203) 854-9117 (fax)

Canaan SBIC, L.P. offers equity investments for expansion of existing businesses in health care, information technology and distribution. The typical investment is $3 million.

Capital Resource Co. of Connecticut
Two Bridgewater Road
Farmington, CT 06032
(203) 236-4336
(203) 232-8161 (fax)

Capital Resource Co. of Connecticut offers equity investments and loans in the North. Capital Resource Co. of Connecticut prefers to fund businesses in the security guard and taxicab industries. Investments range from $200,000 to $300,000.

First New England Capital, L.P.
100 Pearl Street
Hartford, CT 06103
(860) 293-3333
(860) 293-3338 (fax)

First New England offers loans equity investments for expansion of existing manufacturing and distribution businesses in the Northeast. Investments range from $50,000 to $1 million.

Marcon Capital Corp.
495 Post Road East
Westport, CT 06880
(203) 221-8402
(203) 221-8416 (fax)

Marcon Capital Corp. offers loans secured by real estate to businesses in the Northeast. Investments range from $50,000 to $160,000.

RFE Capital Partners, L.P.
36 Grove Street
New Canaan, CT 06840
(203) 966-2800
(203) 966-3109 (fax)

RFE Investment Partners V, L.P.
36 Grove Street
New Canaan, CT 06840
(203) 966-2800
(203) 966-3109 (fax)

RFE Investment Partners V, L.P. offers equity investments for expansion of existing manufacturing and service businesses. Investments range from $5 to $9 million.

TSG Ventures, Inc.
177 Broad Street, 12th Floor
Stamford, CT 06901
(203) 406-1500
(203) 406-1590 (fax)

TSG Ventures, Inc. offers equity or debt with equity investments for expansion of existing manufacturing, media and retail businesses. Investments range from $1 to $3 million.

District of Columbia

Allied Capital Financial Corp.
1666 K Street, N.W., Suite 901
Washington, DC 20006
(202) 331-1112
(202) 659-6895 (fax)

Allied Capital Financial Corp. offers loans and equity investments to manufacturing, wholesale and retail businesses. Investments range from $2 to $8 million.

Allied Financial Corporation II
1666 K Street, N.W., Suite 901
Washington, D.C. 20006
(202) 331-1112
(202) 659-6895 (fax)
Allied Financial Corporation II offers loans and equity investments to manufacturing, wholesale and retail businesses. Investments range from $2 to $8 million.

Allied Investment Corporation
1666 K Street, N.W., Suite 901
Washington, DC 20006
(202) 331-1112
(202) 659-6895 (fax)

Allied Investment Corporation offers subordinate debt with equity investments. Investments range from $2 to $8 million.

Allied Investment Corporation II
1666 K Street, N.W., Suite 901
Washington, DC 20006
(202) 331-1112
(202) 659-6895 (fax)

Allied Investment Corporation II offers mezzanine with equity. Investments range from $2 to $8 million.

Broadcast Capital, Inc.
1700 K Street, NW
Suite 405
Washington, DC 20006
(202) 496-9250
(202) 496-9259 (fax)

Broadcast Capital, Inc. offers debts and equity investments for start-up or expansion of broadcast and communications related businesses. Investments range from $250,000 to $500,000.

Multimedia Broadcast Investment Corp.
1001 Connecticut Avenue, N.W.
Suite 622
Washington, DC 20036
(202) 293-1166
(202) 293-1181 (fax)

Multimedia Broadcast Investment Corp. offers debt and equity investments for expansion of broadcast and telecommunications related businesses. Investments range from $200,000 to $500,000.

DELAWARE

Blue Rock Capital, L.P.
511 Twaddell Mill Road
Wilmington, DE 19807
(302) 426-0981
(302) 426-0982 (fax)

PNC Capital Corp.
300 Delaware Avenue, Suite 304
Wilmington, DE 19801
(302) 427-5895
(412) 762-6233 (fax)

PNC Capital Corp. offers debts and equity investments for expansion of businesses east of the Mississippi. No real estate or tax-oriented investments are offered. Investments range from $2 to $10 million.

FLORIDA

BAC Investment Corp.
6600 N.W. 27th Avenue
Miami, FL 33147
(305) 693-5919
(305) 693-7450 (fax)

BAC Investment Corp. offers loan investments for expansion of businesses in the South. The average loan/investment is $150,000.

Market Capital Corp.
1102 North 28th Street
Tampa, FL 33605
Mail: P.O. Box 31667; Tampa, FL 33631
(813) 247-1357
(813) 248-5531 (fax)

Market Capital Corp. offers secured loans to retail and grocery businesses in Florida. The average loan/investment is $157,000.

PMC Investment Corporation
(Main Office: Dallas, TX)
AmeriFirst Bank Building, 2nd Floor S
18301 Biscayne Boulevard
N. Miami Beach, FL 33160
(305) 933-5858
(305) 931-3054 (fax)

PMC Investment Corporation offers secured lender investments to businesses specializing in motel and franchises. The average investment is $1.5 million.

Western Financial Capital Corporation
(Main Office: Dallas, TX)
AmeriFirst Bank Building, 2nd Floor S
18301 Biscayne Boulevard
N. Miami Beach, FL 33160
(305) 933-5858
(305) 931-3054 (fax)

Western Financial offers secured investments to businesses specializing in motel and franchises.
The average investment is $1.5 million.

GEORGIA

Cordova Capital Partners, L.P.
3350 Cumberland Circle
Suite 970
Atlanta, GA 30339
(770) 951-1542
(770) 955-7610 (fax)

Cordova Capital Partners, L.P. offers equity or debt with warrants investments for expansion of existing businesses in the Southeast. Investments range from $1 to $3 million.

First Growth Capital, Inc.
P.O. Box 815
I-75 & GA 42, Best Western Plaza
Forsyth, GA 31029
(912) 994-9260
(912) 994-1280 (fax)

First Growth Capital, Inc. offers mezzanine with equity investments for expansion of existing businesses. The average loan/investment is $200,000.

Greater Washington Investments, Inc.
105 Thirteenth Street
Columbus, GA 31901
(706) 641-3140
(706) 641-3159 (fax)

Greater Washington Investments, Inc. offers subordinated debt with warrants investments for expansion of existing businesses. The average investment is $1 million.

Renaissance Capital Corporation
34 Peachtree Street, NW
Suite 2610
Atlanta, GA 30303
(404) 658-9061
(404) 658-9064 (fax)

Renaissance Capital Corporation offers loans or subordinated debt with warrants investments for expansion of existing businesses in the Southeast. The average loan ranges from $100,000 to $350,000.

HAWAII

Bancorp Hawaii SBIC
130 Merchant St. Suite 950
Honolulu, HI 96813
Mail:PO Box 2900, Honolulu HI 96846-6000
(808) 537-8613
(808) 521-7602 (fax)

Pacific Venture Capital, Ltd.
222 South Vineyard Street
PH.1
Honolulu, HI 96813
(808) 521-6502
(808) 521-6541 (fax)

Pacific Venture Capital, Ltd. offers loans and equity investments for expansion of existing businesses. The average loan/investment is $200,000.

IOWA

MorAmerica Capital Corporation
101 2nd Street, SE
Suite 800
Cedar Rapids, IA 52401
(319) 363-8249
(319) 363-9683 (fax)

MorAmerica Capital Corporation offers sub debt or preferred stock-warrant investments for expansion of existing manufacturing, retail and service businesses. Investments range from $750,000 to $1.3 million.

North Dakota SBIC, L.P.
101 Second Street SE, Suite 800
Cedar Rapids, IA 52401
(701) 298-0003
(701) 293-7819 (fax)

North Dakota SBIC, L.P. offers sub debt or preferred stock-warrant investments for expansion of existing businesses in North Dakota and nationwide. Investments range from $300,000 to $600,000.

ILLINOIS

ABN AMRO Capital (USA) Inc.
135 South LaSalle Street
Chicago, IL 60674
(312) 904-6445
(312) 904-6376 (fax)

Continental Illinois Venture Corp.
209 South LaSalle Street
Mail: 231 South LaSalle Street
Chicago, IL 60697
(312) 828-8023
(312) 987-0887 (fax)

Continental Illinois Venture Corp. offers loans and equity investments for expansion of existing businesses. The average loan/investment range is from $5 to $25 million.

First Chicago Equity Corporation
Three First National Plaza
Suite 1330
Chicago, IL 60670
(312) 732-5400
(312) 732-4098 (fax)

First Chicago Equity Corporation offers equity investments for expansion of existing businesses.
The average investment is $2 million and up.

Heller Equity Capital Corporation
500 West Monroe Street
Chicago, IL 60661
(312) 441-7200
(312) 441-7208 (fax)

Peterson Finance and Investment Company
3300 West Peterson Avenue
Suite A
Chicago, IL 60659
(312) 539-0502
(312) 583-6714 (fax)

Peterson Finance and Investment Company offers loan investments for expansion of existing businesses. The average loan ranges from $50,000 to $200,000.

Polestar Capital, Inc.
180 N. Michigan Avenue
Suite 1905
Chicago, IL 60601
(312) 984-9875
(312) 984-9877 (fax)

Polestar Capital, Inc. offers equity investments for expansion of existing manufacturing or proven technology businesses. The average investment ranges from $350,000 to $700,000.

Shorebank Capital Corporation
7936 S. Cottage Grove Ave.
Chicago, IL 60619
(773) 371-7030
(773) 371-7035 (fax)

Shorebank Capital Corporation offers equity and loans investments for expansion of existing businesses in the Midwest. Average loans/investments are from $100,000 to $500,000.

Walnut Capital Corp.
Two North LaSalle Street
Suite 2200
Chicago, IL 60602
(312) 269-1700
(312) 269-1747 (fax)

INDIANA

1st Source Capital Corporation
100 North Michgan Street
Mail: P.O. Box 1602; South Bend 46634
South Bend, IN 46601
(219) 235-2180
(219) 235-2227 (fax)

1st Source Capital Corporation offers equity or debt with equity investments for expansion of existing businesses in the Midwest. Investments range from $300,000 to $500,000.

Cambridge Ventures, L.P.
8440 Woodfield Crossing, #315
Indianapolis, IN 46240
(317) 469-9704
(317) 469-3926 (fax)

Cambridge Ventures, L.P. offers subordinated debt and/or equity investments for expansion of existing businesses within 200 miles of Indiana. Investments range from $100,000 to $750,000.


Small Business Investment Company (SBIC) Program Participants - Kansas - New York

KANSAS

Kansas Venture Capital, Inc.
6700 Antioch Plaza, Suite 460
Overland Park, KS 66204
(913) 262-7117
(913) 262-3509 (fax)

Kansas Venture Capital, Inc. offers equity investments to manufacturing businesses in Kansas only. Investments range from$500,000 to $1.5 million.

KENTUCKY

Equal Opportunity Finance, Inc.
420 South Hurstbourne Parkway
Suite 201
Louisville, KY 40222
(502) 423-1943
(502) 423-1945 (fax)

Equal Opportunity Finance, Inc. offers loans and equity investments for expansion of existing businesses in Ohio, Kentucky, West Virginia, and Indiana. The average loan/investment ranges from $50,000 to $200,000.

Mountain Ventures, Inc.
P.O. Box 1738
362 Old Whitley Road
London, KY 40743
(606) 864-5175
(606) 864-5194 (fax)

Mountain Ventures, Inc. offers loan, equity or debt investments for seed or expansion of existing businesses in the Southeast. Investments range from $100,000 to $250,000.

LOUISIANA

Banc One Equity Investors, Inc.
451 Florida Street
Mail: P.O. Box 1511
Baton Rouge, LA 70821
(504) 332-4421
(504) 332-7929 (fax)

Banc One Equity Investors, Inc. offers equity and subordinated debt investments for expansion of existing businesses in the South and Midwest. Investments range from $1 to $5 million.

First Commerce Capital, Inc.
201 St. Charles Avenue, 16th Floor
Mail: P.O. Box 60279
New Orleans, LA 70170
(504) 623-1600
(504) 623-1779 (fax)

First Commerce Capital, Inc. offers loans and equity investments to manufacturing, healthcare, and retail wholesale and distribution businesses in the Gulf region. Investments range from $1 to $2 million.

Hibernia Capital Corp.
313 Carondelet Street
New Orleans, LA 70130
(504) 533-5988
(504) 533-3873 (fax)

Hibernia Capital Corp. offers equity investments to businesses in the Mid-south and Texas. The average investment is $2 million.

MASSACHUSETTS

Argonauts MESBIC Corporation
929 Worcester Road
Framingham, MA 01701
(508) 820-3430
(508) 872-3741 (fax)

BancBoston Ventures, Incorporated
100 Federal Street, 01-32-01
Mail: P.O. Box 2016 Stop 01-32-01
Boston, MA 02106
(617) 434-2442
(617) 434-1153 (fax)

BancBoston Ventures, Incorporated offers equity and mezzanine investments for expansion of existing medical/health technology, media and communications businesses. The average investment ranges from $1 to $20 million.

Chestnut Street Partners, Inc.
75 State Street, Suite 2500
Boston, MA 02109
(617) 345-7220
(617) 345-7201 (fax)

Chestnut Street Partners, Inc. offers equity or debt with equity investments to media and telecommunications businesses. The average investment is $500,000.

Commonwealth Enterprise Fund Inc.
10 Post Office Square
Suite 1090
Boston, MA 02109
(617) 482-1881
(617) 482-7129 (fax)

Commonwealth Enterprise Fund Inc. offers loans and equity investments for buyouts and expansion of existing businesses in the Northeast. The average loan/investment ranges from $200,000 to $300,000.

Geneva Middle Market Investors, L.P.
70 Walnut Street
Wellesley, MA 02181
(617) 239-8230
(617) 239-8064 (fax)

Northeast SBI Corp.
130 NewMarket Square, Suite 1
Boston, MA 02118
(617) 445-2100
(617) 442-0101 (fax)

Northeast SBI Corp. offers loans and equity investments for expansion of existing businesses.
The average loan/investment ranges from $50,000 to $60,000.

Norwest Equity Partners IV
(Main Office: Minneapolis, MN)
40 William Street
Suite 305
Wellesley, MA 02181
(617) 237-5870
(617) 237-6270 (fax)

Norwest Equity Partners IV offers equity investments. Norwest Equity Partners IV prefers to fund start-up and expansion businesses. Investments range from $3 to $15 million.

Pioneer Ventures Limited Partnership
60 State Street
19th Floor
Boston, MA 02109
(617) 742-7825
(617) 742-7315 (fax)

Pioneer Ventures Limited Partnership offers equity or debt with equity investments for seed or expansion of manufacturing, communications, software, medical and technology businesses in New England. Investments are $3 million or less.

Pioneer Ventures Limited Partnership II
60 State Street, 19th Floor
Boston, MA 02109
(617) 742-7825
(617) 742-7315 (fax)

Pioneer Ventures Limit Partnership II offers equity or debt with equity investments for seed or expansion of communications, software, medical and technology businesses in New England. Investments are $3 million or less.

Seacoast Capital Partners, L.P.
55 Ferncroft Road
Danvers, MA 01923
(508) 777-3866
(508) 750-1301 (fax)

Seacoast Capital Partners, L.P. offers loans and equity investments for expansion of existing businesses. The average loan/investment ranges from $1 to $6 million.

Transportation Capital Corp.
(Main Office: New York, NY)
45 Newbury Street
Suite 207
Boston, MA 02116
(617) 536-0344
(212) 949-9836 (fax)

Transportation Capital Corp. offers loans for seed and expansion to transportation businesses in the Northeast and Midwest. The average loan/investment ranges from $25,000 to $135,000.

UST Capital Corp.
40 Court Street
Boston, MA 02108
(617) 726-7000
(617) 723-9414 (fax)

UST Capital Corp. offers loans and equity for seed and early stage businesses. The average loan/investment is $300,000.

Zero Stage Capital V, L.P.
Kendall Square
101 Main Street, 17th Floor
Cambridge, MA 02142
(617) 876-5355
(617) 876-1248 (fax)

Zero Stage Capital V, L.P. offers equity or debt with equity investments for expansion of existing biotech, computer hardware and software and energy businesses in the Northeast. Investments range from $50,000 to $500,000.

MARYLAND

Anthem Capital, L.P.
16 S. Calvert Street
Suite 800
Baltimore, MD21202
(410) 625-1510
(410) 625-1735 (fax)

Anthem Capital, L.P. offers equity investments for expansion of existing businesses in the Mid-Atlantic states. The average investment is $1 million.

MMG Ventures, L.P.
217 E. Redwood Street
Suite 2241
Baltimore, MD 21202
(410) 659-7851
(410) 333-2353 (fax)

MMG Ventures, L.P. offers assistance to health care, computer and information services in the Mid-Atlantic states. Investments range from $500,000-$1,500,000.

Security Financial and Investment Corp.
7720 Wisconsin Avenue
Suite 207
Bethesda, MD 20814
(301) 951-4288
(301) 951-9282 (fax)

Security Financial and Investment Corp. offers loans to businesses within 150 miles radius of D.C. The loans are limited to $150,000.

Syncom Capital Corp.
8401 Colesville Road, #300
Silver Spring, MD 20910
(301) 608-3207
(301) 608-3307 (fax)

MAINE

North Atlantic Venture Fund II, L.P.
70 Center Street
Portland, ME 04101
(207) 772-1001
(207) 772-3257 (fax)

North Atlantic Venture Fund II, L.P. offers subordinated debt with equity feature investments for expansion of existing businesses or buy-outs in New England. The average investment ranges from $1 to $2 million.

MICHIGAN

Capital Fund, Inc.
6412 Centurion Drive
Suite 150
Lansing, MI 48917
(517) 323-7772
(517) 323-1999 (fax)

Capital Fund, Inc. offers loans for expansion of existing businesses in Michigan. The average loan ranges from $200,000 to $500,000.

Dearborn Capital Corp.
c/o Ford Motor Credit Corporation
The American Road
Dearborn, MI 48121
(313) 337-8577
(313) 248-1252 (fax)

Dearborn Capital Corp. offers loans for expansion of existing automotive businesses. The average loan ranges from $250,000 to $1 million.

Metro-Detroit Investment Company
30777 Northwestern Highway
Suite 300
Farmington Hill, MI 48334
(810) 851-6300
(810) 851-9551 (fax)

Metro-Detroit Investment Company offers loans for expansion of existing retail and food store businesses in Michigan.

Motor Enterprises, Inc.
30400 Mound Road, Box 9015
Warren, MI 48090
(810) 986-8420
(810) 986-6703 (fax)

Motor Enterprises, Inc. offers loans for expansion of existing suppliers to General Motors. The average loan ranges from $100,000 to $500,000.

White Pines Capital Corporation
2929 Plymouth Road, Suite 210
Ann Arbor, MI 48105
(313) 747-9401
(313) 747-9704 (fax)

White Pines Capital Corporation offers conventional preferred stock and debt with equity for expansion of existing manufacturing (niche or specialty markets) , value-added businesses in the Midwest and Southeast. The average investment ranges from $350,000 to $1 million.

MINNESOTA

Agio Capital Partners I, L.P.
First Bank Place, Suite 4600
601 Second Avenue - South
Minneapolis, MN 55402
(612) 339-8408
(612) 339-0507 (fax)

Capital Dimensions Ventures Fund, Inc.
Two Appletree Square, Suite 335
Minneapolis, MN 55425
(612) 854-3007
(612) 854-6657 (fax)

Capital Dimensions Ventures Fund, Inc. offers equity or debt investments for expansion of existing communications and technology businesses. The average loan/investment ranges from $200,000 to $2 million.

Milestone Growth Fund, Inc.
401 Second Avenue South, Suite 1032
Minneapolis, MN 55401
(612) 338-0090
(612) 338-1172 (fax)

Milestone Growth Fund, Inc. offers loans with warrant investments for expansion of existing businesses. The average loan/investment is $150,000.

Norwest Equity Partners IV
2800 Piper Jaffray Tower
222 South Ninth Street
Minneapolis, MN 55402
(612) 667-1650
(612) 667-1660 (fax)

Norwest Equity Partners IV offers equity investments for expansion of existing or start-up businesses. Investments range from $3 to $15 million.

Norwest Equity Partners V, L.P.
2800 Piper Jaffrey Tower
Minneapolis, MN 55402
(612) 667-1667
(612) 667-1660 (fax)

Norwest Equity Partners V, L.P. offers equity investments for expansion of existing or start-up businesses. Investments range from $3 to $15 million.

Piper Jaffray Healthcare Capital L.P.
222 South 9th Street
Minneapolis, MN 55402
(612) 342-6335
(612) 342-1036 (fax)

Piper Jaffray Healthcare Capital L.P. offers equity investments for expansion of existing medical/ healthcare businesses. Investments range from $750,000 to $1.5 million.

MISSOURI

Bankers Capital Corp.
3100 Gillham Road
Kansas City, MO 64109
(816) 531-1600
(816) 531-1334 (fax)

Bankers Capital Corp. offers loans and equity investments for expansion of existing businesses in the Midwest. The average investment is $100,000.

CFB Venture Fund I, Inc.
11 South Meramec
Suite 1430
St. Louis, MO 63105
(314) 746-7427
(314) 746-8739 (fax)

CFB Venture Fund II, L.P.
11 South Meramec
Suite 1430
St. Louis, MO 63105
(314) 746-7427
(314) 746-8739 (fax)

CFB Venture Fund II, L.P. offers debt with warrants preferred stock investments for expansion of existing businesses in the Midwest. Investments range from $500,000 to $3 million.

Enterprise Fund, L.P.
150 North Meramec
Clayton, MO 63105
(314) 725-5500
(314) 725-1732 (fax)

Enterprise Fund, L.P. offers equity investments for expansion of existing manufacturing, distribution and service businesses in the Midwest. Investments range from $500,000 to $1 million.

Gateway Partners, L.P.
8000 Maryland Avenue
Suite 1190
St. Louis, MO 63105
(314) 721-5707
(314) 721-5135 (fax)

KCEP I, L.P.
233 West 47th Street
Kansas City, MO 64112
(816) 960-1771
(816) 960-1777 (fax)

KCEP I, L.P. offers equity investments for expansion of existing or start-up technology and manufacturing businesses in the MidWest. The average investment is $2 million.

MorAmerica Capital Corporation
(Main Office: Cedar Rapids, IA)
911 Main Street, Suite 2424
Commerce Tower Building
Kansas City, MO 64105
(816) 842-0114
(816) 471-7339 (fax)

MorAmerica Capital Corporation offers subordinated debt or preferred stock warrant investments for expansion of existing businesses. Investments range from $500,000 to $1 million.

United Missouri Capital Corporation
1010 Grand Boulevard
Mail: P.O. Box 419226
Kansas City, MO 64141
(816) 860-7914
(816) 860-7143 (fax)

United Missouri Capital Corporation offers loans, equity and debt with equity investments to manufacturing businesses in the Midwest. The average loan/investment is $500,000.

MISSISSIPPI

Sun-Delta Capital Access Center, Inc.
819 Main Street
Greenville, MS 38701
(601) 335-5291
(601) 335-5295 (fax)

NORTH CAROLINA

Blue Ridge Investors Ltd. Partnership
300 North Greene Street
Suite 2100
Greensboro, NC 27401
(910) 370-0576
(910) 274-4984 (fax)

Blue Ridge Investors Ltd. Partnership offers equity investments for expansion of existing manufacturing, distribution and light industrial businesses in the Southeast and Mid-Atlantic. The average investment is $1,000,000.

First Union Capital Partners, Inc.
One First Union Center, 5th Floor
301 South College Street
Charlotte, NC 28288
(704) 374-6487
(704) 374-6711 (fax)

First Union Capital Partners, Inc. offers equity and subordinated debt investments for expansion of existing media/communications, retail, consumer and health businesses. Investments range from $3 to $15 million.

Nations Bank Capital Corporation
100 North Tyron Street, 10th Floor
NCI-009-10-04
Charlotte, NC 28255
(704) 386-8063
(704) 388-9049 (fax)

NationsBanc Capital Corporation offers equity and subordinated debt with warrants investments for expansion of existing businesses. Investments range from $3 to $25 million.

NationsBanc SBIC Corporation
901 West Trade Street, Suite 1020
Charlotte, NC 28202
(704) 386-7720
(704) 386-6662 (fax)

NationsBanc SBIC Corporation offers equity and subordinated debt with warrants investments for expansion of existing manufacturing, wholesale, distribution and franchise businesses in the Southeast and Mid-Atlantic. Investments range from $50,000 to $500,000.

Oberlin Capital, L.P.
702 Oberlin Road
Suite 150
Raleigh, NC 27605
(919) 743-2544
(919) 743-2501 (fax)

Springdale Venture Partners, L.P.
2039 Queens Road, East
Charlotte, NC 28207
(704) 344-8290
(704) 386-6695 (fax)

NORTH DAKOTA

North Dakota SBIC, L.P.
(Main Office: Cedar Rapids, IA)
406 Main Avenue, Suite 404
Fargo, ND 58103
(701) 298-0003
(701) 293-7819 (fax)

NEBRASKA

United Financial Resources Corp.
7401 "F" Street
Mail: P.O. Box 1131; Omaha, NE 68101
Omaha, NE 68127
(402) 339-7300
(402) 339-9226 (fax)

United Financial Resources Corp. offers loans to retail and food store businesses in Nebraska. The average loan/investment ranges from $25,000 to $150,000.

NEW JERSEY

CIT Group/Venture Capital, Inc.
650 CIT Drive
Livingston, NJ 07039
(201) 740-5429
(201) 740-5555 (fax)

CIT Group/Venture Capital, Inc. offers equity and equity linked securities investments for expansion of existing businesses. Investments range from $2 to $7 million.

Capital Circulation Corporation
2035 Lemoine Avenue, Second Floor
Fort Lee, NJ 07024
(201) 947-8637
(201) 585-1965 (fax)

Capital Circulation Corporation offers loans only investments for expansion of existing retail, high-tech service businesses in New York-New Jersey-Pennsylvania area. The average loan is $800,000.

DFW Capital Partners, L.P.
Glenpointe Center East, 5th Floor
300 Frank W. Burr Blvd.
Teaneck, NJ 07666
(201) 836-2233
(201) 836-5666 (fax)

DFW Capital Partners, L.P. offers equity investments to diversified health care service businesses. The average investment is $5 million.

First Fidelity Private Capital, Inc.
570 Broad Street, A57004
Newark, NJ 07102
(201) 565-6918
(201) 565-6281 (fax)

First Fidelity Private Capital, Inc. offers loans and equity investments for expansion of existing businesses on the East Coast. Average loans/investments range from $500,000 to $5 million.

MidMark Capital, L.P.
466 Southern Boulevard
Chatham, NJ 07928
(201) 822-2999
(201) 822-8911 (fax)

MidMark Capital, L.P. offers equity investments for expansion of existing manufacturing, distribution and service businesses in the East, Southeast and Midwest. Investments range from $2 to $5 million.

Penny Lane Partners, L.P.
One Palmer Square, Suite 309
Princeton, NJ 08542
(609) 497-4646
(609) 497-0611 (fax)

Penny Lane Partners, L.P. offers equity investments for expansion of existing businesses or buyouts. Investments range from $1 to $3 million.

Rutgers Minority Investment Company
180 University Avenue
3rd Floor
Newark, NJ 07102
(201) 648-5627
(201) 648-1110 (fax)

Rutgers Minority Investment Company offers loans and equity investments for expansion of existing businesses in the Northeast. The average loan/investment is $150,000.

Tappan Zee Capital Corporation
201 Lower Notch Road
Mail: P.O. Box 416
Little Falls, NJ 07424
(201) 256-8280
(201) 256-2841 (fax)

Tappan Zee Capital Corporation offers loans and equity investments for expansion of existing retail and manufacturing businesses or buyouts in the Northeast. The average loan/investment is $200,000.

Transpac Capital Corporation
1037 Route 46 East
Clifton, NJ 07013
(201) 470-8855
(201) 470-8827 (fax)

Transpac Capital Corporation offers primarily loan investments for seed or expansion of existing businesses. The average loan/investment is $200,000.

NEVADA

Atalanta Investment Company, Inc.
601 Fairview Blvd.
Call Box 10,001
Incline Village, NV 89450
(702) 833-1836
(702) 833-1890 (fax)

Atalanta Investment Company, Inc. offers equity investments for expansion of existing technology businesses. The average investment is $2,000,000.

NEW YORK

399 Venture Partners
399 Park Avenue, 14th Floor/Zone 4
New York, NY 10043
(212) 559-1127
(212) 888-2940 (fax)

American Asian Capital Corporation
130 Water Street
Suite 6-L
New York, NY 10005
(212) 422-6880
(212) 422-6880 (fax)

Argentum Capital Partners, L.P.
405 Lexington Avenue, 54th Floor
New York, NY 10174
(212) 949-8272
(212) 949-8294 (fax)

Argentum Capital Partners, L.P. offers equity and mezzanine investments for expansion of existing businesses. The loans range from $1 to $5 million.

BT Capital Partners, Inc.
130 Liberty Street, 25th Floor
New York, NY 10006
(212) 250-5565
(212) 250-7651 (fax)

BT Capital Partners, Inc. offers equity investments for expansion of existing businesses. Investments range from $5 to $25 million.

Barclays Capital Investors Corp.
222 Broadway, 7th Floor
New York, NY 10038
(212) 412-3937
(212) 412-6780 (fax)

CB Investors, Inc.
270 Park Avenue, 5th Floor
New York, NY 10017
(212) 270-3220
(212) 270-2327 (fax)

CIBC Wood Gundy Ventures, Inc.
425 Lexington Avenue, 9th Floor
New York, NY 10017
(212) 856-3713
(212) 697-1544 (fax)

CMNY Capital II, L.P.
135 East 57th Street
26th Floor
New York, NY 10022
(212) 909-8432
(212) 980-2630 (fax)

CMNY Capital II, L.P. offers loans and equity investments for expansion of existing businesses. The average loan/investment is $800,000.

Capital Investors & Management Corp.
210 Canal Street, Suite 611
New York, NY 10013
(212) 964-2480
(212) 349-9160 (fax)

Capital Investors & Management Corp. offers secured loans for expansion of existing retail businesses in New York and tri-state area. The average loan/investment ranges from $100,000 to $150,000.

Chase Manhattan Capital Corporation
380 Madison Ave., 12th Floor
New York, NY 10017
(212) 552-6275
(212) 622-3799 (fax)

Chase Venture Capital Associates
380 Madison Avenue, 12th Floor
New York, NY 10017
(212) 270-3220
(212) 270-2327 (fax)

Citicorp Venture Capital, Ltd.
399 Park Avenue, 14th Floor/Zone 4
New York, NY 10043
(212) 559-1127
(212) 793-6164 (fax)

Citicorp Venture Capital, Ltd. offers investments for later stage and leverage buyouts on the East Coast. Investments range from $5 to $10 million.

Creditanstalt SBIC
245 Park Avenue, 32nd Floor
New York, NY 10167
(203) 861-1410
(203) 861-1477 (fax)

Creditanstalt SBIC offers loans and equity investments for expansion of existing medical/health, telecommunication and manufacturing businesses. The average loan/investment ranges from $500,000 to $1 million.


Small Business Investment Company (SBIC) Program Participants - New York - Rhode Island

NEW YORK (Continued)

East Coast Venture Capital, Inc.
313 West 53rd Street, Third Floor
New York, NY 10019
(212) 245-6460
(212) 265-2962 (fax)

East Coast Venture Capital, Inc. offers loans and equity investments for expansion of existing businesses. The average loan/investment ranges from $50,000 to $200,000.

Edwards Capital Corporation
205 E. 42nd Street, Suite 2020
New York, NY 10017
(212) 682-3300
(212) 983-0351 (fax)

Edwards Capital Corporation offers secured loans for acquisition and expansion of existing transportation businesses in New York City. The average loan ranges from $50,000 to $5 million.

Elk Associates Funding Corporation
747 Third Avenue
New York, NY 10017
(212) 421-2111
(212) 759-3338 (fax)

Elk Associates Funding Corporation offers secured loans and some debt with equity investments to transportation and diversified businesses. The loans range from $100,000 to $300,000.

Empire State Capital Corporation
170 Broadway
Suite 1200
New York, NY 10038
(212) 513-1799
(212) 513-1892 (fax)

Empire State Capital Corporation offers loans and equity investments for expansion of existing businesses in the Atlantic region. The average loan/investment is $500,000.

Eos Partners SBIC, L.P.
520 Madison Avenue, 42nd Floor
New York, NY 10022
(212) 832-5814
(212) 832-5805 (fax)

Eos Partners SBIC, L.P. offers equity or debt with equity investments for expansion of existing telecommunications, media, health services and outsourcing businesses. Investments range from $1 to $5 million.

Esquire Capital Corp.
69 Veterans Memorial Highway
Commack, NY 11725
(516) 462-6944
(516) 864-8152 (fax)

Esquire Capital Corp. offers equity or loans investments for expansion of existing businesses in the North. The average loan/investment is $250,000.

Exeter Equity Partners, L.P.
10 East 53rd Street
New York, NY 10022
(212) 872-1170
(212) 872-1198 (fax)

Exeter Equity Partners, L.P. offers equity investments for expansion of existing businesses. Investments range from $1 to $3 million.

Exeter Venture Lenders, L.P.
10 East 53rd Street
New York, NY 10022
(212) 872-1170
(212) 872-1198 (fax)

Exeter Venture Lenders, L.P. offers loans and equity investments for expansion of existing businesses. Average loan/investments range from $1 to $3 million.

Exim Capital Corp.
241 5th Avenue, 3rd Floor
New York, NY 10016
(212) 683-3375
(212) 689-4118 (fax)

Exim Capital Corp. offers loans and loans with equity features investments for expansion and acquisition of existing businesses in New York City. The average loan/investment is $300,000.

Fair Capital Corp.
210 Canal Street, Suite 611
New York, NY 10013
(212) 964-2480
(212) 349-9160 (fax)

Fair Capital Corp. offers secured loans for expansion of existing retail businesses in New York and the tri-state area. The average loan/investment ranges from $50,000 to $100,000.

First County Capital, Inc.
135-14 Northern Blvd., 2nd Floor
Flushing, NY 11354
(718) 461-1778
(718) 461-1835 (fax)

First County Capital, Inc. offers loans and equity investments to manufacturing, retail, wholesale and food service businesses in the North and Greater New York-area. The average loan/investment ranges from $100,000 to $200,000.

First Wall Street SBIC, L.P.
26 Broadway, Suite 1320
New York, NY 10004
(212) 742-3770
(212) 742-3776 (fax)

First Wall Street SBIC, L.P. offers loans and equity investments to industrial, business products and equipment and telecommunication businesses in the Northeast and East. The average loan/investment ranges from $250,000 to $2 million.

Flushing Capital Corporation
39-06 Union Street, Room 202
Flushing, NY 11354
(718) 886-5866
(718) 939-7761 (fax)

Flushing Capital Corporation offers loans for expansion of existing businesses in New York City area.The average loan/investment is $300,000.

Freshstart Venture Capital Corporation
313 West 53rd Street, 3rd Floor
New York, NY 10019
(212) 265-2249
(212) 265-2962 (fax)

Freshstart Venture Capital Corporation offers loans and equity investments for seed or expansion of existing businesses. The average loan/investment ranges from $50,000 to $200,000.

Fundex Capital Corp.
555 Theodore Fremd Avenue, C-200
Rye, NY 10580
(914) 967-2227
(914) 967-6522 (fax)

Fundex Capital Corp. offers subordinated debt with equity and loan investments for expansion of existing consumer products, communications, medical/health and special businesses in New York-New Jersey-Connecticut area. The average loan/investment ranges from $1 to $2 million.

Furman Selz SBIC, L.P.
230 Park Avenue
New York, NY 10169
(212) 309-8348
(212) 692-9147 (fax)

Furman Selz SBIC, L.P. offers equity investments for expansion of existing businesses. It does not fund start-ups. Investments range from $2 to $6 million.

Genesee Funding, Inc.
70 Linden Oaks, 3rd Floor
Rochester, NY 14625
(716) 383-5550
(716) 383-5305 (fax)

Genesee Funding, Inc. offers loans and equity investments for expansion of existing businesses in the Northeast. The average loan/investment is $200,000.

Hanam Capital Corp.
38 West 32nd Street, Suite 1512
New York, NY 10001
(212) 564-5225
(212) 564-5307 (fax)

Hanam Capital Corp. offers loans and equity investments for expansion of existing businesses in the Northeast. The average loan/investment ranges from $50,000 to $200,000.

IBJS Capital Corp.
One State Street, 8th Floor
New York, NY 10004
(212) 858-2000
(212) 952-1629 (fax)

IBJS Capital Corp. offers mezzanine investments for expansion of existing manufacturing, distribution and service businesses. The loans/investments range up to $6 million.

Ibero American Investors Corp.
104 Scio Street
Rochester, NY 14604
(716) 262-3440
(716) 262-3441 (fax)

Ibero American Investors Corp. offers loans and equity investments for expansion of existing businesses in the Northeast. The average investment is $450,000.

InterEquity Capital Partners, L.P.
220 Fifth Avenue, 12th Floor
New York, NY 10001
(212) 779-2022
(212) 779-2103 (fax)

InterEquity Capital Partners, L.P. offers loans and equity investments. The average loan/investment ranges from $200,000 to $5 million.

International Paper Cap. Formation, Inc.
(Main Office: Memphis, TN)
Two Manhattanville Road
Purchase, NY 10577
(914) 397-1578
(914) 397-1909 (fax)

International Paper Cap. Formation, Inc. offers loans and equity investments for expansion of existing businesses. Investments range from $40,000 to $300,000.

J.P. Morgan Investment Corporation
60 Wall Street
New York, NY 10260
(212) 483-2323
(212) 648-5032 (fax)

J.P. Morgan Investment Corporation offers equity investments for expansion of existing businesses. Investments range from $5 to $10 million.

KOCO Capital Company, L.P.
111 Radio Circle
Mount Kisco, NY 10549
(914) 242-2324
(914) 244-3985 (fax)

KOCO Capital Company, L.P. offers subordinated debt or preferred stock investments for expansion of existing businesses. The average investment is $2 million.

LEG Partners SBIC, L.P.
230 Park Avenue, 21st Floor
New York, NY 10169
(212) 207-1585
(212) 207-1579 (fax)

LEG Partners SBIC, L.P. offers equity or debt with warrants investments for expansion of existing basic manufacturing, healthcare and media businesses in the Mid-Atlantic states. Investments range from $2 to $3 million.

M & T Capital Corp.
One Fountain Plaza
9th Floor
Buffalo, NY 14203
(716) 848-3800
(716) 848-3424 (fax)

Medallion Funding Corporation
205 E. 42nd Street
Suite 2020
New York, NY 10017
(212) 682-3300
(212) 983-0351 (fax)

Medallion Funding Corporation offers senior and subordinated debt with warrants investments for expansion of existing service and retail businesses in the Mid-Atlantic and Northeastern states. Investments range from $50,000 to $350,000.

Mercury Capital, L.P.
650 Madison Avenue
New York, NY 10022
(212) 838-0888
(212) 838-7598 (fax)

Mercury Capital, L.P. offers equity only investments for later stage manufacturing, distribution and service businesses. Investments range from $2.5 to $7.5 million.

NYBDC Capital Corp.
41 State Street
P.O. Box 738
Albany, NY 12207
(518) 463-2268
(518) 463-0240 (fax)

NYBDC Capital Corp. offers loans and equity investments for expansion of existing businesses in New York. The average loan/investment is $100,000.

NatWest USA Capital Corporation
175 Water Street, 27th Floor
New York, NY 10038
(212) 602-1200
(212) 602-2149 (fax)

Needham Capital SBIC, L.P.
445 Park Avenue
New York, NY 10022
(212) 705-0297
(212) 751-1450 (fax)

Needham Capital SBIC, L.P. offers equity investments for expansion of existing technology businesses. Investments range from $500,000 to $1 million.

Norwood Venture Corp.
1430 Broadway, Suite 1607
New York, NY 10018
(212) 869-5075
(212) 869-5331 (fax)

Norwood Venture Corp. offers equity-oriented debt investments for expansion of existing businesses. The average investment is $1,000,000.

Paribas Principal Incorporated
787 Seventh Avenue, 33rd Floor
New York, NY 10019
(212) 841-2000
(212) 841-2146 (fax)

Paribas Principal Incorporated offers equity-only investments for expansion of existing healthcare, media, business service and manufacturing businesses. Investments range from $1.5 to $5 million.

Pierre Funding Corp.
805 Third Avenue, 6th Floor
New York, NY 10022
(212) 888-1515
(212) 688-4252 (fax)

Pierre Funding Corp. offers collateralized loans for expansion of existing businesses on the East coast. The average loan/investment ranges from $100,000 to $500,000.

Prospect Street NYC Discovery Fund, L.P.
250 Park Avenue, 17th Floor
New York, NY 10177
(212) 490-0480
(212) 490-1566 (fax)

Pyramid Ventures, Inc.
130 Liberty Street, 31th Floor
New York, NY 10006
(212) 250-9571
(212) 250-7651 (fax)

Pyramid Ventures, Inc. offers equity investments for expansion of existing businesses. The average investment is $10 million.

Regent Capital Partners, L.P.
505 Park Avenue
Suite 1700
New York, NY 10022
(212) 735-9900
(212) 735-9908 (fax)

Regent Capital Partners, L.P. offers equity or debt with equity investments for acquisition or later-stage consumer-oriented, manufacturing, media and communications businesses. Investments range from $1 to $3 million.

Situation Ventures Corporation
56-20 59th Street
Maspeth, NY 11378
(718) 894-2000
(718) 326-4642 (fax)

Situation Ventures Corporation offers loans and equity investments for expansion of existing manufacturing, service and retail businesses in New York Metro Area. The average loan/investment is $100,000.

Sixty Wall Street SBIC Fund, L.P.
60 Wall Street
New York, NY 10260
(212) 648-7778
(212) 648-5032 (fax)

Sterling Commercial Capital, Inc.
175 Great Neck Road
Suite 408
Great Neck, NY 11021
(516) 482-7374
(516) 487-0781 (fax)

Sterling Commercial Capital, Inc. offers debt with equity investments for expansion of existing businesses in the Northeast. The average investment is $500,000.

TLC Funding Corp.
660 White Plains Road
Tarrytown, NY 10591
(914) 332-5200
(914) 332-5660 (fax)

TLC Funding Corp. offers loans and loans with equity investments for expansion of existing service, light manufacturing and retail businesses in New Jersey, New York, Connecticut and Massachusetts. Investments range up to $800,000.

Toronto Dominion Capital (U.S.A.) Inc
11 West 52nd Street
New York, NY 10019
(212) 468-0760
(212) 974-8429 (fax)

Transportation Capital Corp.
205 East 42nd Street
Suite 1923
New York, NY 10017
(212) 682-3300
(212) 983-0351 (fax)

Transportation Capital Corp. offers loans for seed and expansion of existing transportation businesses in the Northeast and Midwest. Investments range from $25,000 to $135,000.

Triad Capital Corp. of New York
305 Seventh Avenue, 20th Floor
New York, NY 10001
(212) 243-7360
(212) 243-7647 (fax)

Triad Capital Corp. of New York offers equity or debt with equity investments for expansion of existing businesses. Investments range from $100,000 to $250,000.

Trusty Capital Inc.
350 Fifth Avenue
Suite 2026
New York, NY 10118
(212) 736-7653
(212) 629-3019 (fax)

Trusty Capital Inc. offers loans and equity investments for seed, early stage and expansion of existing businesses. The average loan/investment is $200,000.

UBS Partners, Inc.
299 Park Avenue
New York, NY 10171
(212) 821-6490
(212) 821-6333 (fax)

UBS Partners, Inc. offers equity investments for expansion of existing businesses. The average investment is $20 million.

United Capital Investment Corp.
60 East 42nd Street
Suite 1515
New York, NY 10165
(212) 682-7210
(212) 573-6352 (fax)

United Capital Investment Corp. offers loans and equity investments for expansion of existing diversified, medical health and retail businesses in the Northeast. Investments range from $50,000 to $250,000.

Vega Capital Corp.
80 Business Park Drive
Suite 201
Armonk, NY 10504
(914) 273-1025
(914) 273-1028 (fax)

Vega Capital Corp. offers loans and/or debt securities for expansion, acquisition and recapitalize diversified with emphasis on manufacturing and distribution businesses in the Northeast and Southeast. The average loan/investment is $1,000,000.

Venture Opportunities Corporation
150 East 58th Street, 16th Floor
New York, NY 10155
(212) 832-3737
(212) 980-6603 (fax)

Walden Capital Partners, L.P.
150 East 58th Street
34th Floor
New York, NY 10155
(212) 355-0090
(212) 755-8894 (fax)

Walden Capital Partners, L.P. offers equity investments for expansion of existing manufacturing, distribution and service industry businesses in the Northeast and Mid-Atlantic. Investments range from $1 to $2 million.

Wasserstein Adelson Ventures, L.P.
31 West 52nd Street, 27th Floor
New York, NY 10019
(212) 969-2690
(212) 969-7879 (fax)

Winfield Capital Corp.
237 Mamaroneck Avenue
White Plains, NY 10605
(914) 949-2600
(914) 949-7195 (fax)

OHIO

Banc One Capital Partners, L.P.
10 West Broad Street
Suite 200
Columbus, OH 43215
(614) 227-4209
(614) 224-7675 (fax)

Banc One Capital Partners, L.P. offers debt securities/equities investments for later stage businesses in the Midwest and Southwest. Investments range from $3 to $7 million.

Cactus Capital Company
6660 N. High Street, #1B
Worthington, OH 43085
(614) 436-4060
(614) 436-4060 (fax)

Cactus Capital Company offers loans and equity investments for expansion of existing businesses in the Midwest and nationwide. Investments range from $50,000 to $100,000.

Clarion Capital Corp.
Ohio Savings Plaza
1801 East 9th Street
Suite 510
Cleveland, OH 44114
(216) 687-8941
(216) 694-3545 (fax)

Clarion Capital Corp. offers equity investments for expansion of existing diversified and technology-related businesses in the Midwest and nationwide. Investments range from $250,000 to $1 million.

Enterprise Ohio Investment Company
8 North Main Street
Dayton, OH 45402
(513) 226-0457
(513) 222-7035 (fax)

Enterprise Ohio Investment Company offers loans and equity investments for franchise and expansion of existing businesses in the Southwest and Ohio. Investments range from $50,000 to $100,000.

Financial Opportunities, Inc.
210 Broadway East
Cuyahoga Falls, OH 44222
(330) 922-7193
(330) 922-7224 (fax)

Key Equity Capital Corporation
127 Public Square, 6th Floor
Cleveland, OH 44114
(216) 689-5776
(216) 689-3204 (fax)

Key Equity Capital Corporation is willing to make equity investment to later stage businesses. The average investment is $2,000,000.

National City Capital Corporation
1965 East Sixth Street, Suite 1010
Cleveland, OH 44114
(216) 575-2491
(216) 575-9965 (fax)

National City Capital Corporation offers loans or debt with equity investments for expansion of existing manufacturing, distribution, consumer products and retail businesses in the Midwest. The average loan/investment ranges from $1 to $5 million.

River Cities Capital Fund L.P.
221 East Fourth Street
Suite 2250
Cincinnati, OH 45202
(513) 621-9700
(513) 579-8939 (fax)

River Cities Capital Fund L.P. offers equity investments for expansion of existing businesses in Ohio, Kentucky and Indiana. Investments range from $750,000 to $1.5 million.

OKLAHOMA

BancFirst Investment Corporation
101 North Broadway
Mail: P.O. Box 26788
Oklahoma City, OK 73126
(405) 270-1000
(405) 270-1089 (fax)

BancFirst Investment Corporation offers loans and equity investments for expansion of existing businesses in Oklahoma. Investments range up to $500,000.

OREGON

Northern Pacific Capital Corporation
937 S.W. 14th Street
Suite 200
Mail: P.O. Box 1658
Portland, OR 97207
(503) 241-1255

Northern Pacific Capital Corporation offers subordinated debt with warrants investments for expansion of existing businesses in the Pacific Northwest. Investments range from $150,000 to $225,000.

Shaw Venture Partners III, L.P.
400 Southwest Sixth Avenue
Suite 1100
Portland, OR 97204
(503) 228-4884
(503) 227-2471 (fax)

Shaw Venture Partners III, L.P. offers equity investments for seed or expansion of existing businesses in the Mountain and Western regions. Investments range from $2 to $4 million.

Shaw Venture Partners IV, L.P.
400 S.W. Sixth Avenue
Suite 1100
Portland, OR 97204
(503) 275-5710
(503) 275-7565 (fax)

PENNSYLVANIA

CIP Capital L.P.
20 Valley Stream Parkway
Suite 265
Malvern, PA 19355
(610) 695-8380
(610) 695-8388 (fax)

CIP Capital L.P. offers debt investment for expansion or later stage life sciences and communications businesses in the East Coast. Investments range from $250,000 to $750,000.

CoreStates Enterprise Capital, Inc.
1345 Chestnut Street
Philadelphia, PA 19107
(215) 973-6519
(215) 973-6900 (fax)

Greater Philadelphia Venture Capital Corp., Inc.
351 East Conestoga Road
Room 203
Wayne, PA 19087
(610) 688-6829
(610) 254-8958 (fax)

Mellon Ventures, L.P.
One Mellon Bank Center
Room 151-3200
Pittsburg, PA 15258
(412) 236-3594
(412) 236-3593 (fax)

Mellon Ventures, L.P. offers loans, equity or debt with equity investments for acquisition or expansion of existing businesses. The loans/investments range from $3 to $10 million.

Meridian Venture Partners
The Fidelity Court Building
259 Radnor-Chester Road
Suite 140
Radnor, PA 19087
(610) 254-2999
(610) 254-2996 (fax)

Meridian Venture Partners offers equity-only investments for expansion of existing health care services, online services, computer software and special businesses in the Mid- Atlantic states. Investments range from $1 to $3 million.

Philadelphia Ventures Liberty Fund, L.P.
200 Broad Street
The Bellevue
Philadelphia, PA 19102
(215) 732-4445
(215) 732-4644 (fax)

PUERTO RICO

North America Inv. Corporation
Mercantil Plaza Bldg.
Suite 813
Mail: PO BX 1831 Hato Rey Sta., PR 00919
Hato Rey, PR 00919
(809) 754-6178
(809) 754-6181 (fax)

RHODE ISLAND

Domestic Capital Corp.
815 Reservoir Avenue
Cranston, RI 02910
(401) 946-3310
(401) 943-6708 (fax)

Domestic Capital Corp. offers loans for expansion of existing businesses. The average loan/investment is $300,000.

Fleet Equity Partners VI, L.P.
50 Kennedy Plaza, 12th Floor
Mail Stop: RI MO F12C
Providence, RI 02903
(401) 278-6770
(401) 278-6387 (fax)

Fleet Equity Partners VI, L.P. offers equity investments for leverage, buyouts and expansion of existing media, communications, healthcare, printing and manufacturing businesses. Investments range from $5 to $15 million.

Fleet Venture Resources, Inc.
50 Kennedy Plaza, 12th Floor
Mail Stop: RI MO F12C
Providence, RI 02903
(401) 278-6770
(401) 278-6387 (fax)

Fleet Venture Resources, Inc. offers equity investments for leverage, buyouts and expansion of existing media, communications, healthcare, printing and manufacturing businesses. Investments range from $5 to $15 million.

Moneta Capital Corp.
285 Governor Street
Providence, RI 02906
(401) 454-7500
(401) 455-3636 (fax)

Moneta Capital Corp. is asset-based lender who offers expansion financing in the Northeast. The average investment is $300,000.


Small Business Investment Company (SBIC) Program Participants - South Carolina - West Virginia

SOUTH CAROLINA
Charleston Capital Corporation
111 Church Street
P.O. Box 328
Charleston, SC 29402
(803) 723-6464
(803) 723-1228 (fax)

Reedy River Ventures Limited Partnership
7 North Laurens Street
Suite 603
Greenville, SC 29601
(864) 232-6198
(864) 241-4444 (fax)

Reedy River Ventures Limited Partnership offers secured debt with warrants investments for expansion of existing businesses in the Southeast. Investments range from $500,000 to $1.5 million.

TENNESSEE

Commerce Capital, L.P.
611 Commerce Street
Suite 2723
Nashville, TN 37203
(615) 726-0202
(615) 242-1407 (fax)

Equitas, L.P.
2000 Glen Echo Road
Suite 100
Mail: P.O. Box 158838
Nashville, TN 37215
(615) 383-8673
(615) 383-8693 (fax)

Equitas, L.P. offers loans for expansion of existing service, distribution and light manufacturing businesses in the Southeast. Investments range from $500,000 to $890,000.

International Paper Cap. Formation, Inc.
International Place II
6400 Poplar Avenue
Memphis, TN 38197
(901) 763-6282
(901) 763-6076 (fax)

International Paper Capital Formation, Inc. offers loans and equity investments for expansion of existing businesses. Investments range from $40,000 to $300,000.

Pacific Capital, L.P.
3100 West End Avenue, Suite 1070
Nashville, TN 37203
(615) 292-3166
(615) 292-8803 (fax)

Pacific Capital, L.P. offers mezzanine with equity to companies with plus cash flow in health care, education and service businesses. The average investment is $2,500,000.

Sirrom Investments, Inc.
500 Church Street
Suite 200
Nashville, TN 37219
(615) 256-0701
(615) 726-1208 (fax)

Sirrom Investments, Inc. offers senior subordinated debt with warrants investments for expansion of existing businesses. It will not fund start-ups. Investments range from $500,000 to $4 million.

Southern Venture Fund SBIC, L.P.
310 25th Avenue North
Suite 103
Nashville, TN 37203
(615) 329-9448
(615) 329-9237 (fax)

Valley Capital Corp.
Suite 212, Krystal Building
100 W. Martin Luther King Blvd.
Chattanooga, TN 37402
(423) 265-1557
(423) 265-1588 (fax)

Valley Capital Corp. offers loans and equity investments for expansion of existing communications, health care, wholesale and distribution businesses. Investments range from $100,000 to $200,000.

West Tennessee Venture Capital Corporation
5 North Third Street
Memphis, TN 38103
(901) 522-9237
(901) 527-6091 (fax)

TEXAS

AMT Capital, Ltd.
8204 Elmbrook Drive
Suite 101
Dallas, TX 75247
(214) 905-9760
(214) 905-9761 (fax)

AMT Capital, Ltd. offers equity investments for early stage advanced materials and specialty chemicals businesses. Investments range from $250,000 to $500,000.

Alliance Enterprise Corporation
North Central Plaza 1
Suite 710
12655 North Central Expressway
Dallas, TX 75243
(214) 991-1597
(214) 991-1647 (fax)

Alliance Enterprise Corporation offers debt with equity, straight equity investments for expansion of existing manufacturing, specialty electronics, broadcast and food processing businesses in the Southwest. Investments range from $250,000 to $1 million.

Capital Southwest Venture Corp.
12900 Preston Road, Suite 700
Dallas, TX 75230
(972) 233-8242
(972) 233-7362 (fax)

Capital Southwest Venture Corp. offers preferred equity type investments for seed and expansion of existing manufacturing, retail and technology businesses. Investments range from $1 to $2 million.

Catalyst Fund, Ltd.
Three Riverway, Suite 770
Houston, TX 77056
(713) 623-8133
(713) 623-0473 (fax)

Catalyst Fund, Ltd. offers loans with warrants investments for acquisition and expansion of existing businesses. The average loan/investment is $1,250,000.

Charter Venture Group, Incorporated
2600 Citadel Plaza Drive
Suite 600
P.O. Box 4525
Houston, TX 77008
(713) 692-6121
(713) 552-8446 (fax)

Charter Venture Group, Incorporated offers loans and equity investments for expansion of existing manufacturing and distribution businesses in the Southwest. The average loan/investment ranges from $50,000 to $150,000.

Chen's Financial Group, Inc.
10101 Southwest Freeway, Suite 370
Houston, TX 77074
(713) 772-8868
(713) 772-2168 (fax)

Chen's Financial Group, Inc. offers loans and equity investments for seed, acquisition of hotel/motel and retail businesses in Houston, Texas and nationwide. The average loan/investment is $450,000.

First Capital Group of Texas II, L.P.
750 East Mulberry, Suite 305
San Antonio, TX 78212
(210) 736-4233
(210) 736-5449 (fax)

First Capital Group of Texas II, L.P. offers equity investments for early stage and expansion of existing businesses in Texas and the Southwest. Investments range from $500,000 to $1 million.

HCT Capital Corp.
4916 Camp Bowie Boulevard
Suite 200
Fort Worth, TX 76107
(817) 763-8706
(817) 377-8049 (fax)

HCT Capital Corp. offers loans and equity investments for seed and expansion of existing health businesses in the Southwest. The average loan/investment is $250,000.

Houston Partners, SBIP
401 Louisiana, 8th Floor
Houston, TX 77002
(713) 222-8600
(713) 222-8932 (fax)

Houston Partners, SBIP offers debt or equity investments for medical, environmental, and information technology businesses in the Sunbelt area. The average investment is $500,000.

Jardine Capital Corp.
7322 Southwest Freeway
Suite 405
Houston, TX 77074
(713) 271-7077
(713) 271-7577 (fax)

Jardine Capital Corp. offers loans and equity investments for expansion of existing businesses. The average loan/investment is $260,000.

MESBIC Financial Corp. of Houston
401 Studewood, Suite 200
Houston, TX 77007
(713) 869-4061
(713) 869-4462 (fax)

MESBIC Financial Corp. of Houston offers loans and equity investments for expansion of existing businesses in the Greater Houston Area. Investments range from $180,000 to $500,000.

MESBIC Ventures, Inc.
North Central Plaza I, Suite 710
12655 North Central Expressway
Dallas, TX 75243
(214) 991-1597
(214) 991-1647 (fax)

MESBIC Ventures, Inc. offers debt with equity and straight equity investments for expansion of existing manufacturing specialty electronics, broadcast and food processing businesses mostly in the Southwest area. Investments range from $250,000 to $1 million.

Mapleleaf Capital Ltd.
Three Forest Plaza
Suite 935
12221 Merit Drive
Dallas, TX 75251
(214) 239-5650
(214) 701-0024 (fax)

Mapleleaf Capital Ltd. offers equity or equity-related investments for expansion of existing businesses in the Southwest and West. The average investment is $1,000,000.

NationsBanc Capital Corporation
(Main Office: Charlotte, NC)
901 Main Street, 66th Floor
Dallas, TX 75202
(214) 508-0932
(214) 508-0985 (fax)

NationsBanc Capital Corporation offers equity and subordinated debt with warrants investments for expansion of existing businesses. Investments range from $3 to $25 million.

North Texas MESBIC, Inc.
12770 Coit Road
Suite 240
Dallas, TX 75251
(972) 991-8060
(972) 991-8061 (fax)

North Texas MESBIC, Inc. offers loans for expansion of existing retail, wholesalers and distributors businesses in Texas. The average loan/investment is $150,000.

PMC Investment Corporation
17290 Preston Road, Third Floor
Dallas, TX 75252
(214) 380-0044
(214) 380-1371 (fax)

PMC Investment Corporation is a secure lender offering investments to all stages, including start-up businesses specializing in motel and franchise. The average investment is $1.5 million.

Retail & Restaurant Growth Capital, L.P.
10000 N. Central Expressway
Suite 1060
Dallas, TX 75231
(214) 750-0065
(214) 750-0060 (fax)

SBIC Partners, L.P.
201 Main Street, Suite 2302
Fort Worth, TX 76102
(714) 729-3222
(714) 729-3226 (fax)

SBIC Partners, L.P. offers equity-only investments for early stage, expansion and later stage of businesses. Investments range from $2 to $9 million.

Stratford Capital Partners, L.P.
200 Crescent Court
Suite 1650
Dallas, TX 75201
(214) 740-7377
(214) 740-7340 (fax)

Stratford Capital Partners, L.P. offers equity, subordinated debt with equity investments for acquisition and expansion of existing manufacturing, distribution, niche service businesses. Investments range from $2 to $9 million.

Stratford Equity Partners, L.P.
200 Crescent Court
Suite 1600
Dallas, TX 75201
(214) 740-7377
(214) 740-7340 (fax)

UNCO Ventures, Ltd.
520 Post Oak Blvd.
Suite 130
Houston, TX 77027
(713) 622-9595
(713) 622-9007 (fax)

UNCO Ventures, Ltd. offers loans and equity investments for expansion of existing medical, health and technology businesses in the Southwest.

United Oriental Capital Corporation
908 Town & Country Blvd.
Suite 310
Houston, TX 77024
(713) 461-3909
(713) 465-7559 (fax)

United Oriental Capital Corporation offers loans and equity investments for early stage existing businesses in Texas. The average loan/investment is $200,000.

Ventex Partners, Ltd.
1001 Fannin Street
Suite 1095
Houston, TX 77002
(713) 659-7860
(713) 659-7855 (fax)

Ventex Partners, Ltd. offers equity investments for expansion or buyouts of healthcare, specialty retail, organic and natural foods businesses in the Southwest and nationwide. Investments range from $1 to $2 million.

Victoria Capital Corp.
One O'Connor Plaza
Victoria, TX 77902
(512) 574-5646
(512) 574-5236 (fax)

Western Financial Capital Corporation
17290 Preston Road, Third Floor
Dallas, TX 75252
(214) 380-0044
(214) 380-1371 (fax)

Western Financial Capital Corporation is a secure lender that offers financing to all stages including start-up businesses specializing in motel and franchise. The average investment is $500,000.

UTAH

First Security Business Investment Corp.
15 East 100 South
Suite 100
Salt Lake City, UT 84111
(801) 246-5737
(801) 246-5740 (fax)

First Security Business Investment Corp. offers loans and equity investments for expansion of existing businesses in the West and Midwest. Investments range from $500,000 to $750,000.

Wasatch Venture Corporation
1 South Main Street
Suite 1400
Salt Lake City, UT 84133
(801) 524-8939
(801) 524-8941 (fax)

Wasatch Venture Corporation offers equity or debt investments for early stage high technology businesses in the Midwest and West. The average investment is $500,000.

VIRGINIA

Continental SBIC
4141 N. Henderson Road
Suite 8
Arlington, VA 22203
(703) 527-5200
(703) 527-3700 (fax)

Continental SBIC offers loans and equity investments for early/later stage and expansion of existing businesses in the North, South, and Midwest. Investments range from $250,000 to $1 million.

East West United Investment Company
1568 Spring Hill Road, Suite 100
McLean, VA 22102
(703) 442-0150
(703) 442-0156 (fax)

East West United Investment Company offers loans for expansion of retail businesses in Washington metropolitan area. The average loan/investment is $100,000.00.

Eastern Virginia SBIC
2101 Parks Avenue
Suite 803
Virginia Beach, VA 23451
(757) 626-1111
(757) 626-0114 (fax)

Eastern Virginia SBIC offers loans and equity investments for expansion of existing businesses in Eastern Virginia. The average loan/investment is $500,000.

Walnut Capital Corp.
(Main Office: Chicago, IL)
8000 Tower Crescent Drive
Suite 1070
Vienna, VA 22182
(703) 448-3771
(703) 448-7751 (fax)

VERMONT

Green Mountain Capital, L.P.
RR 1, Box 1503
Waterbury, VT 05676
(802) 244-8981
(802) 244-8990 (fax)

Green Mountain Capital, L.P. offers subordinated debt investments for expansion of existing businesses in the Northeast. The average investment is $500,000.

WASHINGTON

Pacific Northwest Partners SBIC, L.P.
Suite 800, Koll Center Bellevue
500 - 108th Avenue, N.E.
Bellevue, WA 98004
(206) 646-7357
(206) 646-7356 (fax)

Pacific Northwest Partners SBIC, L.P. offers equity investments for seed, expansion of existing retail, software, healthcare and medical service businesses in the Pacific, Northwest. The average investment is $1,000,000.

WISCONSIN

Banc One Venture Corp.
111 East Wisconsin Avenue
Milwaukee, WI 53202
(414) 765-2274
(414) 765-2235 (fax)

Banc One Venture Corp. offers equity or debt with equity investments for expansion of existing manufacturing, publishing, distribution and mail-order businesses. Investments range from $1 to $10 million.

Capital Investments, Inc.
1009 W Glen Oaks Lane, Suite 103
Mequon, WI 53092
(414) 241-0303
(414) 241-8451 (fax)

Capital Investments, Inc. offers subordinated debt with warrants investments for expansion of existing manufacturing and value-added distributor businesses in the Midwest. Investments range from $500,000 to $1 million.

Future Value Ventures, Incorporated
Plaze East Office Center, Suite 711
330 East Kibourn Ave.
Milwaukee, WI 53203
(414) 278-0377
(414) 278-7321 (fax)

Future Value Ventures, Incorporated offers loans and equity investments for start-up and expansion of existing businesses in Wisconsin. Investments range from $100,000 to $300,000.

M & I Ventures Corp.
770 North Water Street
Milwaukee, WI 53202
(414) 765-7910
(414) 765-7850 (fax)

M & I Ventures Corp. offers equity and debt securities investments for expansion of existing manufacturing, medical and business service businesses in the Midwest. Investments range from $2 to $3 million.

MorAmerica Capital Corporation
(Main Office: Cedar Rapids, IA)
600 East Mason Street
Suite 304
Milwaukee, WI 53202
(414) 276-3839
(414) 276-1885 (fax)

MorAmerica Capital Corporation offers subordinated debt or preferred stock warrants investments for expansion of existing businesses. Investments range from $500,000 to $1million.

Polaris Capital Corp.
2100 Northwestern Avenue
Racine, WI 53404
(414) 637-8388
(414) 637-6459 (fax)

WEST VIRGINIA

Anker Capital Corporation
208 Capital Street
Suite 300
Charleston, WV 25301
(304) 344-1794
(304) 344-1798 (fax)

Anker Capital Corporation offers combination of debt and equity for early stage, spin-off and expansion of existing manufacturing, wood products, computer industry businesses. The average investment is $500,000.

Shenandoah Venture Capital L.P.
208 Capital Street
Suite 300
Charleston, WV 25301
(304) 344-1796
(304) 344-1798 (fax)

WestVen Limited Partnership
208 Capitol Street
Suite 300
Charleston, WV 25301
(304) 344-1794
(304) 344-1798 (fax)

WestVen Limited Partnership offers combination of debt and equity for early stage, spin-off and expansion of existing manufacturing, wood products, computer industry businesses. The average investment is $500,000.


National Venture Capital Clubs

NATIONAL
National Venture Capital Association
1655 North Fort Myer Dr.
Suite 700
Arlington, VA 22209
(703) 351-5269
www.nvca.org
This group offers a directory of venture capitalists that are members of the organization. The directory costs $275 and may be available in local county or university libraries.

ALABAMA

Birmingham Venture Club
(205) 890-6407

Small Business Development Center
P. O. Box 168
Huntsville, AL 35804
(205) 535-2061

CALIFORNIA

Orange Coast Venture Group
(714) 859-3646

Orange County Venture Forum
23011 Moulton Parkway
Suite 12
Laguna Hills, CA 90025
(714) 855-0652

Bay Area / MIT Enterprise Forum
(415) 726-4165

MIT Enterprise Forum of San Diego
(619) 236-9400

The Capital Institute
985 East Hillsdale Blvd. #258
Foster City, CA 94404
(415) 573-3348
(415) 573-6147 (fax)

Community Entrepreneurs Organization
P. O. Box 9838
San Rafael, CA 94912
(415) 435-4461

Los Angeles Venture Association
1341 Ocean Ave.
Suite 129
Santa Monica, CA 90401
(310) 450-9544

Pacific Ventura Club
(415) 925-9603

Venture Manager, Inc.
674 County Square Dr.
Ventura, CA 93003
(805) 644-5335

DELAWARE

Delaware Entrepreneurs Forum
(302) 652-4241

FLORIDA

Florida Venture Group, Inc.
(407) 382-6649

IDAHO

Idaho Company
P. O. Box 6812
Boise, ID 83707
(208) 344-6308

ILLINOIS

Chicago MIT Forum
8 S. Michigan Ave.
Suite 1000
Chicago, IL 60603
(312) 782-4951

INDIANA

Private Investors Network
216 West Allen St.
Wilmington, IN 47403
(812) 339-8937

Venture Club of Indiana, Inc.
P. O. Box 40872
Indianapolis, IN 46240-0872
(317) 253-1244
(317) 253-1211 (fax)

Michigan Investment Network
300 North Michigan
South Bend, IN 46601
(219) 282-4350

LOUISIANA

Louisiana Source Capital
P. O. Box 3425
Baton Rouge, LA 70825
(504) 383-1508

MASSACHUSETTS

Cambridge/MIT Enterprise Forum
Boston University
Room M-6
808 Commonwealth Ave.
Boston, MA 02215
(617) 353-3016

MIT Enterprise Forum of Cambridge
Massachusetts Institute of Technology
W-59-219
201 Vassar St.
Cambridge, MA 02139
(617) 253-8238

Venture Capital Network, Inc.
290 Main St.
Cambridge, MA 02142
(617) 253-7163
(617) 258-7395 (fax)

MICHIGAN

New Enterprise Forum
425 South Main
Ann Arbor, MI 48104
(313) 665-4433

West Michigan Business/Finance Network
17 Fountain N.W.
Grand Rapids, MI 49503
(616) 771-0300

Jackson Venture Capital Forum
414 N. Jackson St.
Jackson, MI 49201
(517) 787-8830

Business Development Center
(517) 483-1921

Traverse Bay Enterprise Forum
6400 SBDC
Lansing Community College
P. O. Box 40010
Lansing, MI 48901-7210
(616) 947-5075

Capital Enterprise Forum
P. O. Box 24216
Lansing, MI 48909
(517) 393-6830

MINNESOTA

Collaborative
10 South 5th St.
Suite 415
Minneapolis, MN 55402
(612) 338-3828

Minnesota Entrepreneurs' Club
(612) 897-5072

NEW HAMPSHIRE

Technology Capital Network, Inc.
P. O. Box 882
Durham, NH 03824
(617) 253-7163

NEW JERSEY

Venture Association of New Jersey
P. O. Box 1982
Morristown, NJ 07962-1982
(201) 267-4200

NEW YORK

Capital Region Technology Development Council
P. O. Box 1907
Albany, NY 12201
(518) 465-8975

New York Venture Group
605 Madison Ave.
Suite 300
New York, NY 10022
(212) 832-6984

OHIO

Greater Cincinnati Venture Association
300 Carew Tower
441 Vine St.
Cincinnati, OH 45202
(513) 579-3128

Ohio Venture Association
1127 Euclid Ave.
Suite 343
Cleveland, OH 44115-1601
(216) 566-8884

Ohio Venture Club
1127 Euclid Ave.
Suite 343
Cleveland, Ohio 64115-1601

The Ohio Company
(514) 464-6811

OKLAHOMA

Financial Resource Corporation
6501 North Broadway Ext.
Suite 300
Oklahoma City, OK 73116
(405) 840-0049

Oklahoma Private Enterprise Forum Association
1831 East 71st St.
Tulsa, OK 74136
(918) 496-1799

OREGON

Oregon Enterprise Forum
(503) 228-9416

PENNSYLVANIA

Venture Investment Forum of Central PA
(717) 299-6653

Delaware Valley Venture Group
(215) 972-3960

SOUTH DAKOTA

Dakota Ventures
Rapid City, SD
(605) 348-8441

Bluestem Capital Company
P. O. Box 1211
Sioux Falls, SD 57101
(605) 331-0091

TEXAS

Texas Capital Network
8716 North Mopac Blvd.
Austin, TX 78789
(512) 794-9398

Houston/MIT Enterprise Forum
c/o Price Waterhouse
1201 Louisiana
Suite 2900
Houston, TX 77002
(713) 654-4100

Central Texas Venture Capital Group
c/o Chamber of Commerce
P. O. Box 1220
Waco, TX 76703-1220
(817) 752-6551

VERMONT

Vermont Venture Capital Club
C/O Meritt & Meritt
112 Lake St.
P. O. Box 5839
Burlington, VT 05402
(802) 658-7830

VIRGINIA

Richmond Ventures Corp.
1500 Huguenot Rd.
Suite 104
Richmond, VA 23113
(804) 379-2034

Northern Cynchronicty Group
c/o Anderson Funding Group
1674 Westwend Way
McLean, VA 22102
(703) 448-3330

Additional Sources of Information

Small Business Administration Offices

Small Business Development Centers

Publication for Small Businesses


Additional Sources of Information

Although this guide contains a fairly extensive list of resources and tips designed to help you find the funding you need, we recognize that different types of businesses may have additional questions. In this section, you'll find lists of places you can go to get more in-depth questions answered.

In addition to the resources listed in this section, you'll also want to visit Smart Online, the web site for Smart Business System software. On Smart Online (www.sbsn.com), you'll find up-to-date articles and more that may help guide your firm through the funding process and beyond.

For legal questions, you may want to try our Ask the Attorney service. You received a free, three-month trial subscription to this service when you purchased this software package. You can use the service by visiting the Smart Online web site at www.sbsn.com.

Here are some additional resources:

American Association of Home-based Business
P.O. Box 10023
Rockville, MD 20849
(800) 447-9710
Fax: (301) 963-7042
www.aahbb.org

Association of Small Business Development Centers (ASBDC)
1313 Farnam
Suite 132
Omaha, NE 68182
(402) 595-2387
Fax: (402) 595-2388
www.nafta.net/samples/asbdcdir.txt

Foundation of Enterprise Development
P.O. Box 2149
La Jolla, CA 92038-2149
(619) 459-4662
470 L'Enfant Plaza SW
Suite 7112
Washington, DC 20024
(202) 479-2706
www.fed.org/fed/

Home Office Association of America
909 Third Ave.
Suite 900
New York, NY 10022
(800) 809-4622
Fax: (800) 315-4622
www.hoaa.com

National Association of Home-based Business
10451 Mill Run Circle
Suite 400
Owings Mills, MD 21117
(410) 581-0071
www.usahomebusiness.com

National Federation of Independent Businesses
53 Century Blvd.
Suite 300
Nashville, TN 37214
NFIB-NOW
(615) 872-5300
www.nfibonline.com

National Minority Business Council
235 East 42ndSt.
New York, NY 10017
(212) 573-2385
Fax: (212) 573-4462
www.panix.com/~nmbc

National Small Business United
1156 15thStreet N.W.
Suite 1100
Washington, DC 20005
(202) 293-8830
Fax: (202) 872-8543
www.nsbu.org

Small Office Home Office (SOHO) America
(800)495-SOHO
work.soho.org


Publications for Small Businesses

Many of these newsstand publications offer free information and articles on the Internet. There also are several other publications that exist only on the Net that business owners may find useful. They include:

A Guide to Buying a Business, www.kpmg.ca/dd/
America's Business Funding Directory, www.businessfinance.com
Electronic Money Tree, www.soos.com/$tree
Entrepreneur Magazine, www.EntrepreneurMag.com
Entrepreneurial Edge Online, www.edgeonline.com
Inc., www.inc.com
Your Company, pathfinder.com
Your Small Office, www.smalloffice.com


Small Business Administration Offices'

Alabama
Birmingham
2121 8thAve. N.
Birmingham, AL 35203
(205) 731-1344

Alaska
Anchorage
222 West 8thAve.
Anchorage, AK 99513
(907) 271-4022

Arizona
Phoenix
2828 N. Central Ave.
Phoenix, AZ 85004
(602) 640-2316

Arkansas
Little Rock
2120 Riverfront Dr.
Little Rock, AR 72202
(501) 324-5278

California
Fresno
2719 N. Air Fresno Dr.
Suite 200
Fresno, CA 93727
(209) 487-5791

Glendale
330 N. Brand Blvd.
Glendale, CA 91203
(818) 552-3210

Sacramento
660 J St.
Suite 215
Sacramento, CA 95814
(916) 498-6410

San Diego
550 W. C St.
San Diego, CA 92101
(619) 557-7252

San Francisco
455 Market St.
Suite 2200
San Francisco, CA 94105
(415) 744-6820

Santa Ana
200 W. Santa Ana Blvd.
Santa Ana, CA 92701
(714) 550-7420

Colorado
Denver
721 19thSt.
Denver, CO 80202
(303) 844-0500

Connecticut
Hartford
330 Main St.
Hartford, CT 06106
(203) 240-4700

Delaware
Wilmington
824 N. Market St.
Wilmington, DE 19801
(302) 573-6294

District of Columbia
Washington, D.C.
1110 Vermont Ave., N.W.
Washington, DC 20005
(202) 606-4000

Florida
Coral Gables
1320 S. Dixie Hwy.
Coral Gables, FL 33146
(305) 536-5521

Jacksonville
7825 Baymeadows Way
Jacksonville, FL 32256
(904) 443-1900

Georgia
Atlanta
1720 Peachtree Rd., N.W.
Atlanta, GA 30309
(404) 347-4999
(404) 347-4749

Guam
Mongmong
400 Route 8
Suite 302
Mongmong, GU 96927
(671) 472-7277

Hawaii
Honolulu
300 Ala Moana Blvd.
Honolulu, HI 96850
(808) 541-2990

Idaho
Boise
1020 Main St.
Boise, ID 93702
(208) 334-1696

Illinois
Chicago
500 W. Madison St.
Chicago, IL 60661
(312) 353-5000
(312) 353-4528

Springfield
511 W. Capitol Ave.
Springfield, IL 62704
(217) 492-4416

Indiana
Indianapolis
429 N. Pennsylvania
Indianapolis, IN 46204
(317) 226-7272

Iowa
Cedar Rapids
215 4thAve. Rd. S.E.
Cedar Rapids, IA 52401
(319) 362-6405

Des Moines
210 Walnut St.
Des Moines, IA 50309
(515) 284-4422

Kansas
Wichita
100 East English St.
Wichita, KS 67202
(316) 269-6616

Kentucky
600 Dr. M.L. King Jr. Place
Louisville, KY 40202
(502) 582-5971

Louisianna
New Orleans
365 Canal St.
New Orleans, LA 70130
(504) 589-6685

Maine
Augusta
40 Western Ave.
Augusta, ME 04330
(207) 622-8378

Maryland
Baltimore
10 S. Howard St.
Baltimore, MD 21201
(410) 962-4392

Massachussets
Boston
10 Causeway St.
Boston, MA 02222
(617) 565-8415
(617) 565-5590

Springfield
1441 Main St.
Suite 410
Springfield, MA 01103
(413) 785-0268

Michigan
Detroit
477 Michigan Ave.
Detroit, MI 48226
(313) 226-6075

Marquette
501 South Front St.
Marquette, MI 49855
(906) 225-1108

Minnesota
Minneapolis
100 N. 6thSt.
Minneapolis, MN 55203
(612) 370-2324

Mississippi
Gulfport
1 Government Plaza
Suite 203
Gulfport, MS 39501
(601) 863-4449

Jackson
101 W. Capitol St.
Jackson, MS 39201
(601) 965-4378

Missouri
Kansas City
323 W. 8thSt.
Suite 307 and Suite 501
Kansas City, MO
(816) 374-6380
(816) 374-6708

Springfield
620 S. Glenstone St.
Springfield, MO 65802
(417) 864-7670

St. Louis
815 Olive St.
St. Louis, MO 63101
(314) 539-6600

Montana
Helena
301 South Park
Helena, MT 59626
(406) 441-1081

Nebraska
Omaha
11145 Mill Valley Rd.
Omaha, NE 68154
(402) 221-4691

Nevada
Las Vegas
301 East Stewart St.
Las Vegas, NV 89125
(702) 388-6611

New Hampshire
Concord
143 N. Main St.
Concord, NH 03301
(603) 225-1400

New Jersey
Newark
Two Gateway Center
4thFloor
Newark, NJ 07102
(201) 645-2434

New Mexico
Albuquerque
625 Silver Ave., S.W.
Albuquerque, NM 87102
766-1870

New York
Buffalo
111 West Huron St.
Buffalo, NY 14202
(716) 551-4301

Elmira
333 East Water St.
Elmira, NY 14901
(607) 734-8130

Melville
35 Pinelawn Rd.
Melville, NY 11747
(516) 454-0750

New York
26 Federal Plaza
New York, NY 10278
(212) 264-1450
(212) 264-2454

Rochester
100 State St.
Rochester, NY 14614
(716) 263-6700

Syracuse
100 S. Clinton St.
Syracuse, NY 13260
(315) 448-0423

North Carolina
Charlotte
200 N. College St.
Charlotte, NC 28202
(704) 344-6563

North Dakota
Fargo
657 2ndAve. North
Fargo, ND 58108
(701) 239-5131

Ohio
Cincinnati
525 Vine St.
Cincinnati, OH 45202
(513) 684-2814

Cleveland
1111 Superior Ave.
Cleveland, OH 44114
(216) 522-4180

Columbus
2 Nationwide Plaza
Columbus, OH 43215
(614) 469-6860

Oklahoma
Oklahoma City
200 N.W. 5thSt.
Suite 670
Oklahoma City, OK 73102
(405) 231-5521

Oregon
Portland
1515 S.W. Fifth Ave.
Portland, OR 97201
(503) 326-2682

Pennsylvania
Harrisburg
100 Chestnut St.
Harrisburg, PA 17101
(717) 782-3840

King of Prussia
475 Allendale Rd.
King of Prussia, PA 19406
(610) 962-3700

Pittsburgh
1000 Liberty Ave.
Federal Bldg. Room 1128
Pittsburgh, PA 15222
(412) 644-2780

Wilkes-Barre
20 N. Pennsylvania Ave.
Wilkes-Barre, PA 18701
(717) 826-6497

Puerto Rico
Hato Rey
252 Ponce de Leon Ave.
Hato Rey, PR 00918
(809) 766-5572

Rhode Island
Providence
380 Westminister Mall
Providence, RI 02903
(401) 528-4562

South Carolina
Columbia
1835 Assembly St.
Columbia, SC 29201
(803) 765-5377

South Dakota
Sioux Falls
101 South Main Ave.
Sioux Falls, SD 57102
(605) 330-4231

Tennessee
Nashville
50 Vantage Way
Nashville, TN 37228
(615) 736-5881

Texas
Corpus Christi
606 North Carancahua
Corpus Christi, TX 78476
(512) 888-3331

Dallas/Fort Worth
4300 Amon Carter Blvd.
Dallas, TX 76155
(817) 885-6500

El Paso
10737 Gateway West
El Paso, TX 79935
(915) 540-5676

Harlingen
222 East Van Buren St.
Harlingen, TX 78550
(210) 427-8533

Houston
9301 Southwest Freeway
Houston, TX 77074
(713) 773-6500

Lubbock
1611 Tenth St.
Lubbock, TX 79401
(806) 743-7462

San Antonio
727 E. Durango
San Antonio, TX 78206
(210) 472-5900

Utah
125 South State St.
Salt Lake City, UT 84138
(801) 524-5800

Vermont
Montpelier
87 State St.
Montpelier, VT 05602
(802) 828-4422

Virgin Islands
St. Croix
3013 Golden Rock
St. Croix, VI 00820
(809) 778-5380

St. Thomas
3800 Crown Bay
St. Thomas, VI 00820
(809) 774-8530

Virginia
Richmond
1504 Santa Rosa Rd.
Richmond, VA 23229
(804) 771-2400

Washington
Seattle
1200 6thAve.
Suite 1805
Seattle, WA 98101
(206) 552-5676

1200 6thAve.
Suite 1700
Seattle, WA 98101
(206) 553-7310

Spokane
601 First Ave. W.
Spokane, WA 99204
(509) 353-2800

West Virginia
Charleston
550 Eagan St.
Charleston, WV 25301
(304) 347-5220

Clarksburg
168 W. Main St.
Clarksburg, WV 26301
(304) 623-5631

Wisconsin
Madison
212 E. Washington Ave.
Madison, WI 53703
(608) 264-5261

Milwaukee
310 W. Wisconsin Ave.
Milwaukee, WI 53203
(414) 297-3941

Wyoming
Casper
100 East B St.
Casper, WY 82602
(307) 261-5761


Small Business Development Centers

The U.S. Small Business Administration (SBA) maintains 57 Small Business Development Centers (listed below) and 950 smaller offices around the U.S. These centers are designed to offer help and guidance to small businesses on everything from marketing and management to technology. Help comes from trained staff members and experienced volunteers that are part of SCORE (the Service Corps of Retired Executives).

University of Alabama
Birmingham, AL
(205) 934-7260

University of Alaska/Anchorage
Anchorage, AK
(907) 274-7232

Maricopa County Community College
Tempe, AZ
(602) 731-8720

University of Arkansas
Little Rock, AR
(501) 324-9043

California Trade and Commerce Agency
Sacramento, CA
(916) 324-5068

Colorado Office of Business Development
Denver, CO
(303) 892-3809

University of Connecticut
Storrs, CT
(203) 486-4135

University of Delaware
Newark, DE
(302) 831-2747

Howard University
Washington, DC
(202) 806-1550

University of West Florida
Pensacola, FL
(904) 444-2060

University of Georgia
Athens, GA
(706) 542-6762

University of Guam
Mangilao, GU
(671) 735-2590

University of Hawaii at Hilo
Hilo, HI
(808) 933-3515

Boise State University
Boise, ID
(208) 385-1640

Dept. of Commerce & Community Affairs
Springfield, IL
(217) 524-5856

Economic Development Council
Indianapolis, IN
(317) 264-6871

Iowa State University
Ames, IA
(515) 292-6351

Fort Hays State University
Hay, KS
(913) 628-6786

University of Kentucky
Lexington, KY
(606) 257-7668

Northeast Louisiana University
Monroe, LA
(318) 342-5506

University of Southern Maine
Portland, ME
(207) 780-4420

Dept. of Economic and Employment Development
Baltimore, MD
(410) 333-6995

University of Massachusetts
Amherst, MA
(413) 545-6301

Wayne State University
Detroit, MI
(313) 964-1798

Dept. of Trade and Economic Development
St. Paul, MN
(612) 297-5770

University of Mississippi
University, MS
(601) 232-5001

University of Missouri
Columbia, MO
(314) 882-0344

Department of Commerce
Helena, MT
(406) 444-4780

University of Nebraska at Omaha
Omaha, NE
(402) 554-2521

University of Nevada
Reno, NV
(702) 784-1717

University of New Hampshire
Durham, NH
(603) 862-2200

Rutgers University
Newark, NJ
(201) 648-5950

Santa Fe Community College
Santa Fe, NM
(505) 438-1362

State University of New York
Albany, NY
(518) 443-5398

University of North Carolina
Chapel Hill, NC
(919) 715-7272

University of North Dakota
Grand Forks, ND
(701) 777-3700

Dept. of Development
Columbus, OH
(614) 466-2711

S.E. Oklahoma State University
Durant, OK
(405) 924-0277

Lane Community College
Eugene, OR
(503) 726-2250

University of Pennsylvania
Philadelphia, PA
(215) 898-1219

University of Puerto Rico
San Juan, PR
(787) 250-0000

Bryant College
Smithfield, RI
(401) 232-6111

University of South Carolina
Columbia, SC
(803) 777-4907

University of South Dakota
Vermillion, SD
(605) 677-5498

University of Memphis
Memphis, TN
(901) 678-2500

Dallas County Community College
Dallas, TX
(214) 860-5833

University of Houston
Houston, TX
(713) 752-8444

Texas Tech University
Lubbock, TX
(806) 745-3973

University of Texas at San Antonio
San Antonio, TX
(210) 558-2450

Salt Lake City Community College
Sandy, UT
(801) 255-5878

Vermont Technical College
Randolph Center, VT
(802) 728-9101

University of the Virgin Islands
St. Thomas, US VI
(809) 776-3206

Dept. of Economic Development
Richmond, VA
(804) 371-8258

Washington State University
Pullman, WA
(509) 335-1576

West Virginia Development Office
Charleston, WV
(304) 558-2960

University of Wisconsin
Madison, WI
(608) 263-7794

University of Wyoming
Laramie, WY
(307) 766-3505

For More Information

For more information on SCORE, SBDCs, or other SBA programs, call (800) 8-ASK-SBA or visit the agency's web site at www.sba.gov.


Loan Guarantee Program

Guaranteed loans are issued by traditional lenders, such as banks, and are backed by the SBA. This means that if a business defaults, the SBA will pay a previously agreed-upon percentage of the loan to the lender.

The maximum that the SBA can guarantee is $750,000, which represents a 75 percent guarantee of a $1 million loan. However, the SBA can guarantee 90 percent of loans under $155,000. In general, the SBA can guarantee up to 85 percent of loans over $155,000 as long as SBA liability does not exceed


Seasonal Line of Credit Program

The Seasonal Line of Credit Program is open to all small businesses that have been in operation for 12 months, have been unable to secure financing without the SBA guarantee, and have seasonal capital deficiencies (for example, a manufacturer of Christmas tree ornaments may experience slow sales in February-May). The maturity for these loans must be 12 months or fewer. )


Export Revolving Line of Credit Program

The Export Revolving Line of Credit Program is designed to help exporters purchase goods or services for export to a foreign market. To qualify, the small business must have been in operation for 12 months and be in the export, manufacturing, or wholesale businesses. Loan proceeds can finance labor or materials, provided that labor be treated as employees and all payroll taxes are withheld. Loan maturity cannot exceed 18 months.


Small General Contractors Loan Program

The Small General Contractors Loan Program offers money to help finance the construction or renovation of residential or commercial buildings. Loan maturity cannot exceed 36 months over the construction or renovation period. The loan can only be spent on acquisition, construction or renovation of the structure. The structure must be used as collateral.


Guaranteed Loans to Qualified Employee Trusts Program

The Guaranteed Loans to Qualified Employee Trusts allows the trust to lend funds to the employer. To be eligible, trusts must be qualified under the Internal Revenue code (as an Employee Stock Ownership Plan) or Department of Labor requirements (Employee Retirement Income Security Act). Collateral must include the assets of the employer.


International Trade Loan Program

As part of the International Trade Loan Program, the SBA will guarantee loans to companies that wish to engage in international trade or compete with imports that have begun to erode their competitive position in the market. To be considered, the firm must submit a business plan complete with profit and loss projections or financial statements and narrative that explain how imported items have negatively affected the market. The maximum guarantee on these loans is slightly higher than other guaranteed loan.


Contract Loan Program

The Contract Loan Program offers guaranteed loans to small businesses for the short-term financing of labor or materials needed to fulfill a specific contract. To get this type of loan, a business must have been in operation for 12 months, and must be in the construction, manufacturing, or a related service business. All labor hired under this loan plan must be employees of the company, and all payroll taxes must be paid for these workers.


Loan Guarantee Program

Guaranteed loans are issued by traditional lenders, such as banks, and are backed by the SBA. This means that if a business defaults, the SBA will pay a previously agreed-upon percentage of the loan to the lender.

The maximum that the SBA can guarantee is $750,000, which represents a 75 percent guarantee of a $1 million loan. However, the SBA can guarantee 90 percent of loans under $155,000. In general, the SBA can guarantee up to 85 percent of loans over $155,000 as long as SBA liability does not exceed


Contract Loan Program

The Contract Loan Program offers guaranteed loans to small businesses for the short-term financing of labor or materials needed to fulfill a specific contract. To get this type of loan, a business must have been in operation for 12 months, and must be in the construction, manufacturing, or a related service business. All labor hired under this loan plan must be employees of the company, and all payroll taxes must be paid for these workers.