Many small businesses in the transportation industry face difficulty not only accessing sufficient bonding and financing in order to grow, but also access to capital and debt financing. The USDOT’s Summer Initiative for Access to Capital is to provide financial resources and assistance to transportation-related small businesses and clients who are unable to access traditional capital.
Participants will have an opportunity to learn more about:
- How to improve your financial health – credit score
- How your personal finances affect your business
- Revolving loan funds & alternative financing
As well as have opportunity to have Breakout 1-1 sessions
- Meet with credit counselor for a financial diagnosis
- Follow-up one month after session for those that meet the eligibility requirements (prior to September 30th)
To be considered for this program, applicants must be the primary owner of a business that meets the following criteria:
- In business for at least two consecutive years
- Minimum of 2 full-time employees
- Pursuing transportation-related contract
- Credit score of 650 or lower *Note: Owners are considered employees.