Alternative Lender Programs

ByNWBC Council

Small Business Innovation Research Program

Resource: Small Business Innovation Research Program
Hosted by: Small Business Administration
To learn more contact: https://www.sbir.gov/

The Small Business Innovation Research program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development that has the potential for commercialization. SBIR Phase I and Phase II grants are available through several federal agencies.

Primary Assistance: Finance
Location(s): Virtual
Primary Requirements: Small Business Concern as defined by SBA regulations at 13 C.F.R. §§701-705
Industry Focus: Varies by awarding agency
First Step: Apply
Submission or start date: Yes

ByNWBC Council

Upstart

Resource: Upstart
Hosted by: Upstart
To learn more contact: https://www.upstart.com/

Upstart is a peer-to-peer lending platform that allows entrepreneurs to raise capital for their businesses. Education, job history, and credit score help Upstart understand more about an entrepreneur’s future potential and allow the business to get a lower rate. Loans range from $3,000 to $35,000.

Primary Assistance: Finance
Location(s): Virtual
Primary Requirements: None
Industry Focus: None
First Step: Apply
Submission or start date: No

ByNWBC Council

Eileen Fisher Grant Program

Resource: Eileen Fisher Grant Program
Hosted by: Eileen Fisher
To learn more contact: http://www.eileenfisher.com/grants/women-owned-business/women-owned-business-overview/

The Eileen Fisher Grant Program supports innovative, women-owned companies that are beyond the start-up phase and ready to expand their businesses and their potential for positive social and environmental impact. The program awards $100,000 in grants for up to 10 grant recipients (minimum grant $10,000) on an annual basis. Additionally, grant recipients are invited to New York City in the spring following their award for 3 days of shared learning with the Eileen Fisher community.

Primary Assistance: Finance
Location(s): New York City, NY
Primary Requirements: $1 million or less in annual revenue, operating at least 3 years
Industry Focus: None
First Step: Apply
Submission or start date: Yes

ByNWBC Council

FedEx Small Business Grant Contest

Resource: FedEx Small Business Grant Contest
Hosted by: FedEx
To learn more contact: https://smallbusiness.fedex.com/grant-contest

The FedEx Small Business Grant Contest awards 10 small businesses annually with grants up to $25,000. The contest is open to legal residents of the United States who own for-profit small businesses.

Primary Assistance: Finance
Location(s): Virtual
Primary Requirements: Operating (selling a product or service and registered with state government) at least 6 months, U.S. based for-profit company without affiliation to a franchised business
Industry Focus: None
First Step: Apply
Submission or start date: Yes

ByNWBC Council

Funding Circle

Resource: Funding Circle
Hosted by: Funding Circle
To learn more contact: https://www.fundingcircle.com/us/small_business_loans

Funding Circle is a peer-to-peer lending service that allows savers to lend money directly to small and medium-sized businesses. By cutting out the costs and complexity of dealing with banks, an entrepreneurs can get an affordable loan for his or her business in less than 2 weeks. Business loans can be up to $500,000.

Primary Assistance: Finance
Location(s): Virtual
Primary Requirements: None
Industry Focus: None
First Step: Apply
Submission or start date: No

ByNWBC Council

Small Business Technology Transfer Program

Resource: Small Business Technology Transfer Program
Hosted by: Small Business Administration
To learn more contact: https://www.sbir.gov/about/about-sttr#sttr-program

The Small Business Technology Transfer is a competitive grant program that expands funding opportunities for small businesses in the federal innovation research and development arena. Central to the program is the expansion of public-/private-sector partnerships. The unique feature of the STTR program is the requirement for the awarded small businesses to formally collaborate with research institutions. STTR Phase I and Phase II grants are available through several federal agencies.

Primary Assistance: Finance
Location(s): Virtual
Primary Requirements: Small Business Concern as defined by SBA regulations at 13 C.F.R. §§701-705
Industry Focus: Varies by awarding agency
First Step: Apply
Submission or start date: Yes

ByNWBC Council

Lending Club

Resource: Lending Club
Hosted by: Lending Club
To learn more contact: https://www.lendingclub.com

Lending Club is the world’s largest peer-to-peer lending platform. Lending Club operates an online lending platform that enables borrowers to obtain a loan and investors to purchase notes backed by payments made on loans.

Primary Assistance: Finance
Location(s): Virtual
Primary Requirements: At least $75,000 in annual revenue
Industry Focus: None
First Step: Apply
Submission or start date: No

ByNWBC Council

Opportunity Loan $2,600 – $20,000

Resource: Opportunity Loan $2,600 – $20,000
Hosted by: Opportunity Fund
To learn more contact: http://www.opportunityfund.org/loans/products/opportunity-loan/

Opportunity Fund is the largest nonprofit microfinance lender, helping small businesses in California get the money they need. It is a U.S.-certified Community Development Financial Institution. Entrepreneurs can receive loans between $2,600 and $20,000 without a minimum credit score.

Primary Assistance: Finance
Location(s): Virtual (targeting businesses in the Bay Area and Greater Los Angeles)
Primary Requirements: Operating at least 1 year
Industry Focus: Excludes Gas stations, Bars/Clubs, Liquor stores, Entertainment, Real estate, Export and Lending businesses
First Step: Apply
Submission or start date: No

ByNWBC Council

Peerform

Resource: Peerform
Hosted by: Peerform
To learn more contact: https://www.peerform.com

Peerform is a peer-to-peer lending platform that helps entrepreneurs finance their businesses. Peerform gives buyers the opportunity to secure loans at fixed rates without collateral. Once users’ borrowing needs and financial profiles are reviewed by Peerform, entrepreneurs may be offered a selection of loan alternatives. The loan inquiry with selected terms is then listed on the Peerform marketplace platform.

Primary Assistance: Finance
Location(s): Virtual
Primary Requirements: None
Industry Focus: None
First Step: Apply
Submission or start date: No

ByNWBC Council

Small Business Loan $20,000 – $100,000

Resource: Small Business Loan $20,000 – $100,000
Hosted by: Opportunity Fund
To learn more contact: http://www.opportunityfund.org/loans/products/small-business-loan/

Opportunity Fund is the largest nonprofit microfinance lender, helping small businesses in California get the money they need. It is a U.S.-certified Community Development Financial Institution. The $20,000–$100,000 loan is one of two business-loan types available.

Primary Assistance: Finance
Location(s): Virtual (targeting businesses in the Bay Area and Greater Los Angeles)
Primary Requirements: Operating at least 1 year
Industry Focus: None
First Step: Apply
Submission or start date: No