Small business owners are getting more opportunities for financing startups and emerging operations under the Trump administration. Officials with Greater Wealth Works at a recent job fair at the Cobb County Recreational Center in Marietta said businesses could boom in 2025.
The biggest opportunities are for those starting or already in manufacturing, officials said. Trade wars are pushing “Made in the U.S.A” products into high demand and the federal government wants more products at home.
Products can be anything including artificial nails for beauty salons, clothing, food, and tools or parts that go into other products. It is a huge effort that the Small Business Administration is willing to invest in for those innovative enough to create or manage a manufacturing business.
One plus for Georgia entrepreneurs is that this state is being looked at favorably in the effort because of past and present ties to the administration. Georgia transplant Kelly Loeffler now heads the U.S. Small Business Administration (SBA) and former governor Sonny Perdue was in charge of the U.S. Department of Agriculture (USDA) during President Trump’s last term. Trump put a focus on Georgia during the last election and other Georgians like Doug Collins are serving in his administration.
What About Other Businesses?
Grants and opportunities are available for other types of businesses through traditional 7(A) SBA loans, 7(A) Caplines, 7(A) SBA Express Loans, 504 Certified Development Company Loans, and even microloans. Import-export loans are also available.
Each of these has guidelines on company size, the maximum amount to borrow, and purposes. Some require good credit scores of at least 630 but criteria can be different for each.
How to Find Out More
Several ways exist to find out more about loans that could benefit your business. One is through Greater Wealth Works courses. These are free, online courses for female business owners that you can customize to search your areas of interest.
A plus of signing up for Greater Wealth Works is that it grants you access to grant opportunities offered to small business owners twice yearly.
Georgia business owners can contact the state SBA office to ask about these opportunities. You can email for information at georgia@sba.gov, go online at sba.gov/ga, or call (404) 331-0100.
Melody Dareing is a freelance writer for publications in the U.S., Canada, the UK, and Germany. She is a former news director of Adelphia Channel 4 and WBHF Radio.