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How do I get started in a business?

How do I get a small business grant?

How does the SBA guarantee loan program work?

How do I get a small business loan?

How do I get a business license?

How do I get a tax identification number?

Is there any business assistance available in my area?

What classifies a business as "small"?

How can I get my business certified as a woman or minority owned?

I’m interested in exporting. What is the process?

How do I get started in a business?

The U.S. Small Business Administration (SBA) provides a wealth of information on starting a business at the SBA home page under "Small Business Planner.” Within this category you will find information on entrepreneurship, writing a business plan, and managing and growing your business. You may also take advantage of SBA’s resource partners. Both the Service Corps of Retired Executives (SCORE) and the Small Business Development Centers (SBDC) provide free one-on-one counseling to those interested in starting and expanding a business. This includes, critiquing your business plan, legal requirements, marketing, and licenses needed for your business. To find the location nearest you, please visit Local Resources and click on your state.

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How do I get a small business grant?

The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments. For more information, visit the SBA home page.

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How does the SBA guarantee loan program work?

Under the guaranty concept, commercial lenders make and administer the loans. The business applies to a lender for their financing. The lender decides if they will make the loan internally or if the application has some weaknesses which, in their opinion, will require an SBA guaranty if the loan is to be made. The guaranty which SBA provides is only available to the lender. It assures the lender that in the event the borrower does not repay their obligation and a payment default occurs, the Government will reimburse the lender for its loss, up to the percentage of SBA's guaranty. Under this program, the borrower remains obligated for the full amount due.

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How do I get a small business loan?

Documentation requirements may vary; contact your lender for information you must supply. Common requirements include: purpose of the loan, history of the business, financial statements for three years (existing businesses), schedule of term debts (existing businesses), aging of accounts receivable and payable (existing businesses), projected opening-day balance sheet (new businesses), lease details, amount of investment in the business by the owner(s), projections of income, expenses and cash flow, signed personal financial statements and personal resume(s). You should take the information, including your loan proposal and submit it to a local lender. If the lender is unable to approve your loan, you may ask if the lender can consider your request under the SBA loan guaranty program. Under this program, the SBA can guaranty up to 85% of a small business loan; however, the lender must agree to loaning the money with the SBA guarantee. The lender will then forward your loan application and a credit analysis to the nearest SBA District Office. After receiving all documentation, the SBA analyzes the entire application, then makes its decision.

The process may take up to 10 days to complete. If the lender needs SBA applications and/or guidance it may contact the nearest SBA District Office by visiting this guide. Upon SBA approval, the lending institution closes the loan and disburses the funds. To be eligible, a business must be operated for profit and not exceed SBA's size standards.

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How do I get a business license?

Licensing is generally handled through your state or local government. See the U.S. Small Business Administration’s Licenses and Permits for more information. For FREE one-on-one counseling, visit SBA’s Counseling and Assistance for a local area contact nearest you. The Service Corps of Retired Executives, Small Business Development Centers and Women's Business Centers can assist you.

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How do I get a tax identification number?

For a Federal Tax ID number, please contact the Internal Revenue Service for Form SS4. This Form is available through their website. You may call the IRS at 1-800-829-1040 and ask for the Small Business Tax Kit #454.

Tax information for starting a business can be found by going here. You will need to contact the Department of Revenue for state taxes (if any). Please consult your local telephone directory in the "State Government" section for the office in your state.

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Is there any business assistance available in my area?

Yes. SCORE provides free, expert advice based on many years of firsthand experience and shared knowledge, on virtually every aspect of business. The SBDC provides a variety of management and technical assistance services to small businesses and potential entrepreneurs.

Local Contacts:

SCORE

Bucks County SCORE
Chamber of Commerce
409 Hood Boulevard
Fairless Hills, PA 19030
(215) 943-8850
Additional office locations in Doylestown and Perkasie


Eastern Montgomery County SCORE
Baederwood Shopping Center
1653 The Fairways, Suite 204
Jenkintown, PA 19046
(215) 885-3027
(215) 885-3029

Philadelphia SCORE
Robert N.C. Nix Federal Bldg.
900 Market Street, 5th Floor
Philadelphia, PA 19107
(215) 580-2712

SBDC (Small Business Development Centers)

Our District is served by both the Lehigh and Temple University SBDCs

Temple University SBDC
Fox School of Business and Management
1510 Cecil B. Moore Avenue
Philadelphia, PA 19121
(215) 204-7282
(215) 204-4554 FAX
www.temple.edu/SBDC

Lehigh University SBDC
College of Business and Economics
Rauch Business Center
621 Taylor Street
Bethlehem, PA 18015-3117
(610) 758-3980
(610) 758-5205 FAX
www.lehigh.edu/sbdc

The County/City Departments of Business and Economic Development are also excellent resources for small business owners and entrepreneurs.

Bucks County Department of Economic and Business Development
1260 Almshouse Rd.
Doylestown, PA 18901
(215) 345-3839

Montgomery County Office of Economic and Workforce Development
1430 DeKalb Pike
5th Floor
Norristown, PA 19404-0311
(215) 278-5950

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What classifies a business as "small"?

There is no "official" certification process that determines a small business. It is a self-certifying and paperless procedure. The U.S. Small Business Administration (SBA) uses the North American Industrial Classification System (NAICS) in determining size standards; which as of October 1, 2000, replaced the Standard Industrial Classification (SIC) Codes. To see if your business is considered small by the federal government, or to determine which NAICS Code(s) is applicable to your business, visit the SBA’s size standard topics.

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How can I get my business certified as a woman or minority owned?

Your business must be owned and at least 51% controlled by one or more minorities. Women are not considered minorities. It is a self-certifying process and no paperwork needs to be filled out. However, your state and local government may have different rules and regulations regarding their contracts and what their definitions are. Consult your state and local government for rules and requirements.

The U.S. Small Business Administration (SBA) has a certification process for the 8(a) Business Development Program to assist Small Disadvantaged Businesses (SDB). This program assists in the development of small companies owned and operated by individuals who are socially and economically disadvantaged. The SDB certification ensures that small businesses are owned and controlled by socially and economically disadvantaged individuals meeting SDB eligibility criteria. If you are considered a SDB, you may receive a price evaluation credit of up to 10% when you bid on a federal contract. Businesses eligible for this program may receive federal contracting set-asides and other business-development support to help the company gain access to the economic mainstream. For more information on this program visit SBA’s certifications page.

I’m interested in exporting. What is the process?

The U.S. Small Business Administration provides export information and development assistance to help small businesses take advantage of export markets, including trade counseling, training, legal assistance and publications. U.S. Export Assistance Centers located in major metropolitan areas throughout the United States, are one-stop shops ready to provide your small- or medium-sized business with local export assistance.

Receive personalized assistance by professionals from the U.S. Small Business Administration, the U.S. Department of Commerce, the U.S. Export-Import Bank and other public and private organizations.

Philadelphia Regional Export Assistance Center
(Territory: Eastern Pennsylvania, New Jersey, Eastern New York, Delaware, Eastern Maryland)

Robert Elsas
Regional Manager, International Trade Programs
U.S. Export Assistance Center
The Curtis Center
601 Walnut Street, Suite 580 West
Philadelphia, Pennsylvania 19106
Tel: 215-597-6110
Fax: 215-597-6123
Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

For more information on any Small Business Adminstration or affiliate program, please contact the SBA Philadelphia district office.

Robert N.C. Nix Federal Building
900 Market Street, 5th Floor
Philadelphia, PA 19107
(215) 580-2SBA
(215) 580-2722

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