Alternative Funding

Need a financial start to your business in entertainment? Seeking some help with budgeting your business properly? The alternative funding programs from the various sources are available for small businesses. Two sites in particular that can be looked at for this kind of assistance would be The Association For Enterprise Opportunity, also known as the AEO (http://www.microenterpriseworks.org/), and The Coalition of Community Development Financial Institutions, also known as the The CDFI (http://www.cdfi.org/). The AEO offers information on finding a mentor and microenterprise development organizations. It seems as though the AEO offers this assistance without having any requirements but they do offer the help if an self-employed business owner is interested. The CDFI offers awards and programs to communities that require a lot of development and financial support. Such programs as The New Markets Tax Credits Program, initiated in 2002, encourages private sector investment by offering tax credits for qualified community development investments.

The qualifications for being part of a program in the CDFI programs vary. For example, if you wanted to be involved with the Microenterprise Development Loan Fund, the business owner would have to file the business as a 501 (c) (3) to have it documented as a non-profit business. It is specifically by low individuals and entrepreneurs that would like to receive funding from the government and the private sector. Other programs, such as Community Development Venture Capital Fund, doesn't require the business to be registered as a 501 (c) (3) and mainly funds corporations, foundations, individuals, and parts of the government. The AEO has initiatives for people seeking funding. There is an initiative called Enter The Catalyst that caters to low-wealth entrepreneurs to develop leadership and create a microenterprise. This program is different from the Green Economy initiative they have that specifically focuses on businesses that are eco-friendly; focusing on the environment.

Other information that these sites have include information on government advocacies. The AEO has a section on its website where there is a link to help people who are uninsured to gain some assistance with their health insurance. The CDFI offers details on how to get in touch with politicians in legislation and how the process of it works. Both sites seem to have great a bit of detail for entrepreneurs to be involved in a microenterprise and to also be well aware of what they are getting into as far as being self-employed.