- December 22, 2021
- Posted by: Stratford Team
- Category: Business
Small businesses are the backbone of a community. The corner coffee shop provides a common, friendly spot to gather and share conversation. The centrally-located market where neighbors go to get their milk, the hair salon that’s been passed down through generations, the brewery where friends meet after work — all essential fibers of the fabric of a neighborhood.
According to recent statistics from the Small Business Administration, businesses with fewer than 500 employees make up 99.9% of all businesses and are responsible for creating over 60% of new jobs in America. But starting and sustaining a small business is not easy, and definitely costly. While there are many traditional financial institutions that offer help for start-ups and expansion, they are not “one-size-fits-all.” It’s often smarter for small businesses to look outside of the traditional lending box and seek the assistance of a Community Development Financial…
