In the United States, it is easy enough to get a loan for a start-up business if its owner has a good credit history. To this end, there are certain types of loans that are made through financial institutions, which are a little easier to obtain because they are in some way guaranteed by the Government, and the financial institutions themselves are much more willing to give loans or credit on favorable terms. There is such an institution as the SBA (Small Business Administration) – an agency under the Government, which is engaged in:
Support for small and medium-sized businesses at the level of events, networking, infrastructure
as well as making arrangements with financial institutions for the provision of various financial terms.
Advantageous terms are negotiated between the financial institution and the SBA. The Government guarantee in this case means that if a financial institution gives a loan to a certain young company, which later does not pay back the loan, the Government guarantees payment on the loan to that financial institution.
U.S. government business support programs: for immigrants
If a business is owned by people who are permanent residents of the United States (even if they are not U.S. citizens), then all small and medium-sized business support programs apply to those companies. Moreover, there are special areas of support for businesses whose employees are immigrants. In addition, there are special incentive programs for hiring employees and staff diversification. That is, if a company hires a mixed workforce, which includes people of different races and ethnicities, it is quite possible to get an incentive for that:
- both in the form of tax credits
- and in the form of financial support from the Government.
Companies that are established and run by aliens permanently residing in the U.S. are notionally subjects to government assistance.
The government will certainly be less interested in supporting a business if the company is owned by aliens who:
- Have no connection to the U.S.
- Have no residency or documentation of residency in the U.S.
- and have no plans to obtain the aforementioned documents.
The U.S. also has a relatively uncomplicated procedure for bidding on government contracts. There are two centralized resources:
- The Federal Government’s website for civil contracts
- The site for defense contracts.
Of course, it would be much more difficult for a company owned by foreigners or non-U.S. citizens to participate in obtaining defense government contracts. Although it is possible. As for bidding for civilian government contracts, the procedure is not complicated.
