| If you're looking for start-up capital
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| | has five or less employees
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| for your business, but you don't have the
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| | has a revenue of less than $100,000 a
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| credit, collateral or background needed
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| | year
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| by your bank to get a business loan, then
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| | What types of businesses qualify for a
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| microenterprise might be your best
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| | microenterprise loan?Traditional
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| bet.Microenterprise Development programs
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| | businesses such as:*small specialty shops
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| have been around since the 1970s. They
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| | like hobby shops, florists and gift
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| were created as a way of helping people
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| | shops*small engine or auto repair
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| who couldn't access traditional methods
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| | shops*bakeries, cafes and sandwich
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| of credit, either because they were too
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| | shops*beauty parlors and barber
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| poor, or the amount of money they needed
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| | shops*arts and craft stores, ceramic
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| was too small for a bank to be
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| | shops and art galleriesNon-traditional
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| interested.In the United States, there
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| | businesses such as:*massage therapists,
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| are over 500 Microenterprise programs
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| | acupuncturists,
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| designed to help low to moderate income
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| | hypno-therapists*business, life and
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| entrepreneurs. In fact, if you have bad
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| | relationship coaches*soap and essential
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| credit, no credit and no collateral, you
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| | oil manufacturers*artists, painters and
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| can probably find a microenterprise loan
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| | jewelry makers*doggie daycare owners,
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| fund in your state, city or town.What do
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| | mobile beauty shops and in-home computer
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| microenterprise loan programs do?They
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| | repairWhere can you find a program in
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| provide a variety of financial and
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| | your area?One of the biggest problems
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| business services to entrepreneurs. Some
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| | with finding a microenterprise loan
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| programs provide free or low-cost
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| | program is that they are often not very
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| business classes that will walk you
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| | well advertised, and may not even be
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| through the process of writing a business
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| | called a "microenterprise development
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| plan. Other provide counseling, to help
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| | program" so unless you know where to look
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| you manage your debt, and understand and
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| | it can be frustrating. Here are some
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| use financial planning software. Still
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| | ideas to get you started:*The Small
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| others offer business mentors. Most
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| | Business Adminisration*Your local Chamber
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| Microenterprise loans have some type of
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| | of Commerce or Economic Development
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| networking program, where you can build
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| | Agency*Small Business Development Center
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| relationships with other business
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| | in your area*Your bank or credit
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| people.How much money can you borrow?Loan
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| | union*Women's organizations, business
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| amounts vary from $500 to $25,000.
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| | support groups* -- you can find free
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| Interest rates are at or below prime, and
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| | microenterprise resources indexed by
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| you don't need to have a lot of
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| | state hereThe main thing to remember is
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| collateral or excellent credit in order
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| | that if you're really serious about
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| to apply. In some programs, you can
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| | starting your own business, there are
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| qualify for a smaller loan fairly easily,
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| | resources available to help you, so don't
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| and then, once it has been repaid, apply
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| | give up!Cheryl Antier is the President of
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| for a larger loan. This helps to build
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| | Dream Weaver Enterprises, a business and
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| your business credit, and insures that
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| | fundraising consulting company. MAPS
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| you don't over-extend yourself.What is a
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| | (Microenterprise Answers to your Personal
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| microbusiness?A microbusiness is defined
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| | Success)is a membership organization that
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| as any business:that can be started for
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| | helps women to start, grow and succeed in
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| less than $35,000
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| | small business ownership.
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