Small Business Association (SBA) Launched an Online Loan Matching Service. SBA has developed a new online tool called LINC, which stands for Leveraging Information and Networks to access Capital. LINC is an online loan matching service that helps connect potential borrowers with SBA lenders who can provide them with the capital to start and grow their businesses. For years, commercial lending clearinghouses have offered similar services, but unlike those organizations, SBA will be providing this service for free. The tool is rolling out in waves, first to nonprofit community lenders that specialize in micro lending, Community Advantage loans, and CDC/504 loans. In the longer term, SBA will look to add more traditional banks that offer a wider array of financial products. LINC starts with an online form for borrowers, containing the information that matters most for lenders. The form, which contains twenty questions, takes approximately five minutes to fill out. Prospective borrowers may immediately go to https://www.sba.gov/tools/linc to check it out or apply. Starting a business can be an over whelming experience. There are so many questions, “Where do I start?”, “Who do I talk to?”, “Where can I get the funding?”, etc. The chamber of commerce can help you through the steps of getting a business license, going through the permit process or finding the ideal location for your business. Get started by calling the San Bernardino Chamber to make an appointment with their Business Development staff 909.885-7515.
The following steps will give you the resources need to start your business.
Step 1: Research and Plan Your Business. Use these tools and resources to help you prepare your business plan and become a successful business owner: Writing your Business Plan.
Step 2: Get Business Training and Expert Advice. Take advantage of free training and counseling services in your county. These services include everything from preparing a business plan, to getting financing, to help with expanding and relocating a business. Call (951) 652-4390 and schedule a FREE appointment with a S.C.O.R.E. business counselor.
Step 3: Select a Location. The location of your business is a major factor in its success or failure. Get advice about choosing a customer-friendly location and complying with zoning laws or contact the business resources dept. at the Chamber for advice on the zoning and location assistance.
Step 4: Finance Your Business. Unless you have a rich uncle, you probably will need some help to get started in business. Learn about government backed loans, venture capital and grants to help you get started.
Step 5: Select a Business Name. Individuals or entities doing business for profit under a name different from the owner(s) full legal name(s) must file a Fictitious Name Statement with the County Recorder-Clerk’s Office where the business will be conducted. Corporations, LLCs, LLPs, and limited partnerships register an assumed name as part of their required business filings with the California Secretary of State. For help selecting a business name that will attract customers, visit our How to Name Your Business guide.
Step 6: Determine the Legal Structure of Your Business. If your business is a corporation, a non-profit, a limited liability company or a partnership (limited, or limited liability) you must register with the City of San Bernardino. For help selecting a legal structure for your business, visit our Business Incorporation guide.
Step 7: Get an Employer Identification Number (EIN). An EIN is also known as a federal tax identification number, and is used to identify a business entity. Employers with employees, business partnerships, and corporations and other types of organizations, must obtain an EIN from the U.S. Internal Revenue Service. The EIN is also known as an Employer Tax ID and Form SS-4: U.S. Internal Revenue Service Phone: 1-800-829-4933. Guide to the Employer Identification Number. Apply for an EIN Online.
Step 8: Register for State Taxes. Businesses that operate in California are required to register for one or more tax-specific identification numbers, licenses or permits, including income tax withholding, sales and use tax (seller’s permit), and unemployment insurance tax. Contact the following agency for more information about business registration and your tax obligations: Business Tax Registration Tax Information and Forms.
Step 9: Obtain Business Licenses and Permits. In order to operate legally, most businesses require a business license or permit issued by the state and your local government. The following resources will help you determine your licensing requirements: City of San Bernardino City Clerk’s Office. California Licensing Requirements. Info about business and occupational licenses required by the state. Guide to Business Licenses and Permits Tools and resources to help you determine your licensing requirements.
Step 10: Employer Responsibilities. If you are a new employer, our Ten Steps to Hiring Your First Employee will walk you through the legal steps you must take to hire your staff.
Guide To Starting Your Own Business
City of San Bernardino City Clerk’s Office, 300 N. “D” Street, San Bernardino, CA 92418
Business Registration Phone: (909) 384-5302.
Inland Empire Small Business Development Center Located at Cal State University San Bernardino, 5500 University Parkway, San Bernardino.
California Tax Service Center: http://www.taxes.ca.gov/doingbus.shtml
San Bernardino Area Chamber of Commerce: http://sbachamber.org/
State of California Economic Development: http://www.business.ca.gov/