Money To Start A Business In A High Unemployment Area

The Economic Development Administration makes grants to local communities with high unemployment, that in turn, make business loans to small entrepreneurs who can create jobs. This is done through the revolving loan fund of the Economic Adjustment Program. The Buffalo, New York area recently used this program to make loans to 182 companies targeting start-ups as well as minority and women-owned businesses. Find out where in your area there may be revolving loan programs from your state Office of Economic Development listed in the blue pages of your phone book, or contact the Economic Development Administration, U.S. Dept. of Commerce, 14th & Constitution Ave, Room 7800B, Washington, DC 20230; 202-482-5081; {www.doc.gov/eda}.

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