Frequently Asked Questions (FAQs)
(Click on each question for an answer.)
This can certainly be a daunting question. First, make an appointment to receive counseling, free of charge, from your local SBDC. Among other talents, our advisors are adept at helping you write a business plan, the "roadmap" for your venture. If you or your business is in New York, click here to find the SBDC nearest you (if you're in another state or U.S. territory, click here to find a roster of websites for other SBDCs). Assistance from an SBDC is available to anyone interested in beginning a small business for the first time or improving or expanding an existing small business, who cannot afford the services of a private consultant.
There exist several fine websites (GrantsWeb, the Catalog of Federal Domestic Assistance) on which one can search for available grant monies. Keep in mind, however, that our experience shows that grant money is rarely – if ever – made available to for-profit ventures for purposes of obtaining capital.
Keep in mind that the SBDC is not a lending institution. However, each SBDC in New York has cultivated a relationship with their local banking community. While that is no guarantee that your loan will be approved, advisement from an SBDC counselor might better position your company to get the funds you need.
Under certain circumstances, the Small Business Administration will guarantee a percentage of business loans for qualified small businesses. Information regarding their loan programs can be found here.
You should visit the NYS Business Permit Assistance Program at (518) 474-8275 or http://www.opal.ny.gov. This website is an interactive website that helps users determine their New York State permit and licensing requirements.
The State of New York has developed the Healthy New York Program. It is a “program designed to encourage small employers to offer health insurance coverage to their employees, dependents, and other qualified individuals.” You can also reach this program at 1-866-HEALTHYNY (or 1-866-432-5849).
In addition, several small business organizations feature group health insurance as a benefit of membership.
You should visit the site of the Division of Corporations within the New York Department of State. They’ll have answers to your questions.
Also called a "Federal Tax Number" or "Employer Identification Number," it is granted upon completing IRS Form SS-4. You can obtain this form in Portable Document Format (PDF) at the IRS web site, or by calling 1-800-829-1040.
Dale Rice, Director
SUNY Canton SBDC
Wicks Hall 023
Canton, NY 13617