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Disabled

What funding is available for a disabled person to open a business.

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2 answers

There are several.....but you'll have to interact with government. Don't underestimate OMB A-87 Government Circulars. These have overhead! Also, the SBA is a good source of information. Start there first....but,keep looking. There are lots of options. You didn't detail the disability so I am missing critical information.

 

I hope the below helps.

 

-Vince

 

One:

Authorization:

Small Business Act of 1953, Public Law 100-656.

Objectives:

To foster business ownership by individuals who are both socially and economically disadvantaged; and to promote the competitive viability of such firms by providing business development assistance including, but not limited to, management and technical assistance, access to capital and other forms of financial assistance, business training and counseling, and access to sole source and limited competition Federal contract opportunities, to help the firms to achieve competitive viability.

Uses and Restrictions:

This program utilizes authority provided to SBA under Section 7(j) and 8(a) of the Small Business Act to enter into procurement contracts with other Federal agencies and to subcontract the performance of these contracts to eligible program participants, and to provide access to capital and other forms of financial assistance, and to provide business training and counseling.

Eligibility Requirements:

Beneficiary Eligibility: Minority group; Small business; Black; American Indian; Spanish Origin; Asian; Other Non-White

Minority Group Small Business Black American Indian Spanish Origin Asian Other Non-White

Credentials/Documentation: Documentation to establish that all program eligibility criteria are met. This program is excluded from coverage under OMB Circular No. A-87.

http://www.sba.gov

Second:

Authorization:

Small Business Act of 1953.

Objectives:

To fund private, nonprofit organizations to assist, through training and counseling, small business concerns owned and controlled by women, and to remove, in so far as possible, the discriminatory barriers that are encountered by women in accessing capital and promoting their businesses.

Uses and Restrictions:

To establish women's business centers (WBCs) for the benefit of small business concerns owned and controlled by women. The services provided by the women's business centers must include financial, management, procurement and marketing assistance to start-up or established concerns, as well as mentoring and Internet services. Annual awards are issued through a 5-year term to successful applicants. Also, previously funded centers that have completed an award cycle may compete to receive additional funding through a 5-year term under the 4-year pilot program established under the Women's Business Center Sustainability Act of 1999 (and as extended by Congress for fiscal years 2004, 2005 and 2006).

Eligibility Requirements:

Beneficiary Eligibility: Small Business Person; Women

Small Business Person Women

Credentials/Documentation: No Credentials or documentation are required. This program is excluded from coverage under OMB Circular No. A-87.

 

http://www.sba.gov/onlinewbc

 

Third:

 

Authorization:

American Recovery and Reinvestment Act , Public Law 97-449, 49 U.S.C 332.

Objectives:

To advance the opportunities for small, minority-owned disadvantaged businesses, including women and service-disabled veteran owned businesses and Disadvantaged Business Enterprises (DBE) (to obtain accounts receivable financing for the performance of eligible transportation-related contracts originating from the Department of Transportation (DOT), its grantees, recipients, their contractors and subcontractors.

Uses and Restrictions:

The line of credit is for account receivable financing to support the work being performed on eligible transportation related contracts. The line of credit cannot be used for equipment purchase or other long term uses; contract mobilization; refinancing of existing debt; payment of taxes; or distribution to stock holders. A transportation-related contract is one for the maintenance, rehabilitation, restructuring, improvement, or revitalization of any of the nation s modes of transportation with any public or commercial provider of transportation or any federal, state or local transportation agency.

Eligibility Requirements:

Beneficiary Eligibility: Minority group; Profit organization; Women

Minority Group Profit organization Women

Credentials/Documentation: STLP application dated and signed; 3 years of business financial statements and taxes; 3 years of personal income taxes and current personal financial statement; current work-in-progress; cash flow projection to cover the length of the term of the loan (one year); current DBE or SBA certification; business formation information; company history; resume of key management; business and trade reference letters; and a copy of the signed transportation related contract(s). OMB Circular No. A-87 applies to this program.

 

http://www.osdbuweb.dot.gov

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Annette, I would also contact your local DVR (Department of Vocational Rehabilitation). I am current a client and have had help with services and products that I need to function in my work at my job. DVR is a state agency federally mandated and that gets matching federal funds. Their mission is to help those with disabilities overcome barriers to employment or to maintaining their employment. This includes the self employed. In my case DVR provided hearing aids and all my audiology exams. Once determined eligible for services, a client develops an Individualized Plan for Employment (IPE) with a case worker.  Let me know if you have further questions about this state agency I feel is a best kept secret.

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