The message of today's column is that small businesses have access to a plethora of financing opportunities. Stronger credits with a history and solid background of profits and growth have no problem walking into their banks and obtaining credit on terms they can afford. What happens, however, when your business is young, or start up, or doesn't have years of profits to show to a lender? Be not discouraged- there are "angels" out there, ready, willing and able to help you with your entrepreneurial dream. These angels include true "angel investors"- people and entities who are willing to invest in (provide equity) or loan to risky situations in amounts ranging from a few hundred dollars to millions. There's actually an angel investor network or organizations promoting such investments (go on the internet and google "angel investors"- its quite a list!).

There are other angels out there to help your small business with its financing needs- angels who come from more traditional lending sources such as banks, foundations, government and quasi government sources. Here are just a few which are active on Long Island and can provide financing ranging from $2,000-millions, for working capital and for capital expansion.

Women owned businesses (start up and existing) who need $2,000- 10,000 can access the LI Small Business Assistance Corp.- sponsored by Citibank and New York State. Poor credit is not a problem as long as it is due to non recurring reasons.

Women and minority owned businesses in need of $10,00-65,000 can access the LI Minority and Womens Revolving Loan Fund- sponsored by New York State and LI Fund for Sustainable Development. The advantage of these first two funds is not only the low interest rate and long term available , but the availability of technical assistance and less stringent credit requirements than a bank can set.

Entrepreneurs in the Village of Hempstead or the Town of Hempstead who meet low-moderate income standards and have five or less employees may be able to obtain low cost loans from the municipalities (up to $10,000 from the Village; up to $50,000 from the Town).

Alternative sources include CDC of LI which provides funding for minorities and women under the SBA microloan program and has a mezzanine fund for targeted communities.

If your business' working capital needs are larger than these funds can handle- you may want to consider the SBA express or 7A loan available from your bank. Keep in mind, these loans generally require good personal credit but they can give your company a major advantage through the long terms which lower the monthly cash flow requirement.

When it comes to capital expansions, there are numerous resources available to help you buy or build that dream home for your small business. If you are a strong company with good credit and a solid history and meet the minimum threshold to make it economically feasible, the Industrial Development Authorities on LI can provide financing as well as other benefits. Their financing comes from the issuance of bonds which are purchased by an institution or sold into the market. Lower real estate taxes, sales tax and other tax abatements can be attached to IDA assistance.

For manufacturers, the NY Job Development Authority can partner with your bank to provide an affordable financing package.

Probably the most flexible, attractive financing tool for capital projects is the SBA 504 loan provided by Long Island Development Corporation- up to 40% of total project cost (land/building/construction/renovations/soft costs) in a second mortgage position can be provided to compliment your bank's 50% first mortgage. You put in just 10%. The SBA 504 loan is generally up to $1.5 million. For minority owned, women owned, veteran owned, exporters or distressed area location, the loan can go up to $2 million. And manufacturers can borrow uop to $4 million under the program at long term, low fixed rates.

Whether your business is looking at an individual investor, a government lender, a bank, or a quasi government loan program, all of these "angel funders" and others are available to help small businesses realize their entrepreneurial dreams of success. So, go out and seek an angel for your business during this angelic season.