In a recent virtual event, Rural Community Assistance Corporation (RCAC) partnered with First SouthWest Community Fund (FSWCF) to help inform San Luis Valley small business owners of non-traditional approaches to secure funding for their small businesses. In addition, the event covered how to acquire financing for those who want to open a business in the San Luis Valley in the future or those who need financing for their start-ups.

Many attendees at the virtual event found it helpful to learn of the small business loans offered by RCAC. RCAC can provide equipment loans, expansion loans, working capital, construction loans, capital improvements and support for those with cash flow issues to allow businesses to create jobs and be successful.

RCAC also provided information on the KIVA loan, which is a 0%, no-fee loan available for small businesses that seek to receive finances through crowdfunding. The start-up idea is offered to international and domestic investors after the community makes its initial investment. Through this process, money raised through crowdfunding is then matched.

RCAC offers business coaching for those who need assistance in managing finances. During the virtual event, RCAC and FSWCH mentioned that many small business centers offer services for free for those who seek help with business logistics.

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