If you’re a small business owner or entrepreneur with a great idea, you may be looking for resources to help answer some of the many questions you most likely have. Well, the Mount Prospect Public library is here to help–with a little assistance from the Small Business Administration (SBA)! The SBA is the government agency tasked with providing information and programs dedicated to assisting small businesses, and one of the best is their yearly Small Business Resource Guide. Inside you’ll find info on everything from how to start a business and writing a business plan to programs designed to help veterans and native Americans, as well as funding sources. Just click above or HERE to get started, or grab a paper copy from the Business Resource Center behind the Research desk. And if you need help navigating this or other business resources available at the library, MPPL Business Reference Joe Collier is available for one-on-one reference appointments–just email or call the library to set one up!
News from the Reference Desk Category: Financial aid
Did you know that the Illinois Treasurer serves as the state’s chief investment officer? It invests approximately $25 billion on behalf of the state, units of local government, and families saving for college. Illinois State Treasurer Michael W. Frerichs maintains, however, “that we must also invest in people. The best way to do that is to provide people the tools to invest in themselves.”
One way is to capitalize local banks and lending institutions. The Treasurer’s office provides money at below‑market rates in return for their commitment to loan that money to individuals and businesses trying to better themselves and, by extension, their community. Farmers are familiar with their popular Ag Invest program which has provided more than $1 billion in loans over the years. Some homeowners are familiar with the Finally Home program that helps homebuyers who barely miss qualifying for a conventional mortgage. This year, it has added a new program to the portfolio to help small businesses still wading through the ripple effects of the recession. The Community Uplift Program commits $500 million in new money to flow through local banking institutions to help individuals obtain loans at below-market rates to fund business growth or expansion. The program provides capital in a manner that supports community development while meeting primary investment objectives of safety, liquidity, and return on investment.
Currently, 300 lending institutions are qualified to participate. Growing the number of institutions willing to participate in just one of these loan programs will help strengthen Illinois. If you are a business owner, farmer, or potential homeowner, click here for more information. Bankers and other lending institutions can click here.
The National Endowment for Financial Education (NEFE) is the leading private nonprofit 501(c)(3) national foundation dedicated to inspiring empowered financial decision making for individuals and families through every stage of life. With more than a quarter-century of dedication to the public good, NEFE continues its legacy of service with commitment to providing financial education and practical information to people at all financial levels, including high school and college students, folks planning for retirement, and overspenders. NEFE provides objective and credible information through its programs and partnerships. Their materials continually evolve with the changing financial climate, technological advancements, and societal trends to meet consumers’ shifting needs. All NEFE resources and teaching materials are provided at no cost: consumer and educational resources, current financial news, programs and initiatives and more–check it out at www.nefe.org today and find something to help your own financial literacy grow!
There have been some changes made to the filing process for the federal student aid application FAFSA. For the 2016-2017 schoolyear, the application process is open. This application uses data from the 2015 tax return. The open date for the 2017-2018 schoolyear is going to be October 1, 2016. This application will also use data from the 2015 tax return. Applications for the 2018-2019 schoolyear will open on October 1, 2017. This application will use data from the 2016 tax return. A chart showing all this information can be found at this website It is possible to complete the FAFSA form and file it online at www.fafsa.ed.gov.