Funding your Small Business - Immigrant Small Business Guide

Sep 17, 2026

Uploaded by Aurora

Guide on funding a small business, with a focus on credit, borrowing, and practical steps for immigrant entrepreneurs in New York. Explains the difference between business credit and personal credit, how to build and protect credit, and how lenders evaluate repayment history. Covers preparing for bank and lender trust through documentation such as EIN and business setup, plus strategies like separating business finances and using revenue relationships to support financing decisions.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages14

Reading Time35 min

AccessFree to download

IntroductϽKSHϽN

Aw fɔ Yuz Dis Gayd

We Bizinɛs Kin Trɔs Mɔni

Difference between business credit and personal credit

Aw Yu Dɔn Blant Trɔs

Diferɛn Diferɛn We Bizinɛs Kin Gɛt Mɔni

Yusɛf Put Yu Mɔni De

Aw to gɛt mɔni fɔ yu smɔl biznɛs 2022-2023 New York Immigration Coalition [nyic.org](nyic.org) USA Y D Ɛ N T Ɔ K B Ɔ T S Ɔ N IN NAD IS S M Ɔ L B UK I . INTRODϽKSHϽN Aw f ɔ Yuz Dis Gayd II . WE BIZNƐS KIN TRƆS MƆNI Ɔndastand Aw Bi znɛs Kin Trɔs Mɔni Aw Bi znɛs Kin Stat f ɔ Trɔs Mɔni III . DIFRƐN DIFRƐN WE BIZNƐSKIN GƐT MƆNI Yusɛf Put Yu Mɔni De Padi ɛn Fambɔl Aks Pipul Na Di Intanɛt Fɔ Lɛnt Di Biznɛs Aks Pipul Na Intanɛt Platfɔm dɛn Fɔ Lɛnt Di Biznɛs Mɔni Govmɛnt ɔ NGO Gi D i Bi znɛs Trɔs Wetin-ɛn-wetin Fɔ Du We Yu Wan Trɔs Lis fɔ Smɔl Biznɛs We Wan Fil Fɔm Fɔ Aks Fɔ Trɔs Checklist IV . PLES FƆ CHƐK Pipul Na Di Eria of Nyu Yɔk ( New York State Community) Mɔni Gɔvmɛnt ɔ NGO We Nɔto Bank Lɛnt ( Development Financial Institutions) 1 2 3 4 5 6 7 8 9 10 11 12 Aw fɔ Yuz Dis Gayd Wan big pat pan stat ɔ gro smɔl biznɛs na fɔ ɔndastand di t in dɛn fɔ gɛt mɔni we de de fɔ ɛp yu fɔ mit di n id dɛn fɔ yu biznɛs. Smɔl biznɛs dɛn we strenja dɛn we kɔmɔt na ɔda kɔntri gɛt de mek 33.8% pan di p ipul dɛm we de wok fɔ dɛnsɛf na Nyu Yɔk Stet ɛn na wi gol fɔ jɔyn pipul na di eria wit infɔmeshɔn ɛn t in dɛn we dɛnde gi fɔ ɛp biznɛsman dɛn ɛn smɔl biznɛs dɛn we udat gɛt am kɔmɔt na ɔda kɔntri. Dis gayd go bi wan way fɔ di strenja dɛn we gɛt smɔl biznɛs we kɔmɔt na ɔdakɔntri fɔ yuz to stat fɔ mek dɛn biznɛs eb ul trɔs , smɔl tɔk bɔt difrɛn difrɛn webiznɛs kin gɛt mɔni , ɛn fɔ sho aw wan ɛvride aplikeshɔn fɔ trɔs. Di difrɛn difrɛn we yu pik fɔ gɛt mɔni fɔ yu biznɛs go rili mek big difrɛns na di kayn biznɛs yu gɛt ɛn ɔmɔs mɔni yu go mek tumara. I i mpɔtant fɔ tin k bɔt aw di mɔni yu gɛt go ɛp yu fɔ rich yu biznɛs gol dɛn ɛn fɔ pe fɔ wetin yu n id Dis gayd nɔ de tɔk bɔt t in dɛn lɛ k laysens ɔ pɔmit. Dis gayd ya na fɔ smɔl tɔk bɔt difrɛn difrɛn we biznɛs kin gɛt mɔni. Duya lu k w i Smɔl B iznɛs Gayd fɔ Strenja dɛn We Kɔmɔt Na Ɔda Kɔntri (Immigrant Small Business Guide) na [https://www.nyic.org/immigrant-smal](https://www.nyic.org/immigrant-smal)l-business-guide/ fɔ fɛn mɔ tin yu kin yuz. Ɔndastand Aw Biznɛs Kin Trɔs Mɔni Bifo yu disayd aw yu go gɛt mɔni fɔ yu biznɛs , yu wan fɔ stat fɔ mek di biznɛs eb ul trɔs ɛnitɛm i nid mɔni. Dis ya na wetin dɛn kɔ l ‘biznɛs krɛdit’ ɛn i fiba we yu trɔs fɔ yusɛf sɛf ɔ wetin dɛn kɔ l ‘pasɔnal krɛdit’. Dis biznɛs k rɛdit de mek di wan dɛn we lɛnt to yu no if i sef fɔ dɛn fɔ lɛnt yu. I de ɛp di wan we go lɛnt yu fɛnawt ɔmɔs dɛn fɔ biliv yu go pe dɛn ba k ɔ nawetin na di mɔs dɛn go lɛnt di biznɛs if atɔl. Di wan we kin lɛnt no dis we dɛn wach aw yu biznɛs dɔn blant pe bay taym ɛn if i bin eb ul fɔ pe i n dɛt dɛn. Yu fɔ gɛt biznɛs k rɛdit ɔnda di nem na di biznɛs sɛf. Dis de mek shɔ se di biznɛs k rɛdit ɛnyu pasɔnal krɛdit nɔ de miks. Dis i impɔtant bikɔs: We yu kip yu pasɔnal krɛdit layn separet i kip am sef frɔm ɛny bad mɔni prɔblɛm yu biznɛs kin gɛt Yu biznɛs kin gro i yon krɛdit ɛn bɛtɛ yu chans fɔ trɔs ɛn gɛt ɔda kayn mɔni bak I go mɔ iz i fɔ si wetin di biznɛs dɔn spɛn we i kam pan taks Aw Yu Dɔn Blant Trɔs Aw yu dɔn blant trɔs ɛn pe bak min sɔntin to di wan den we go lɛnt ɔ gi yu mɔni , inshɔrans ret dɛn , ɛn ɛp biznɛs patna , di wan dɛn we sɛn yu wetin yu n id , ɛn diwan we go sɛl to yu sabi if dɛn go wan fɔ du biznɛs wit yu. Aw yu dɔn blant trɔs ɛn pe bak kin mek patna ɛn wan we go lɛnt to yu sabi if yu biznɛs eb ul gro ɛnmek mɔni. Di wan we lɛnt ki wach aw yu dɔn blant trɔs ɛn pe bak fɔ si if dɛn go gri we yu ak to trɔs to dɛn. Dɛn go wach yu pasɔnal krɛdit ɛn yu biznɛs k rɛdit ɔ ltu fɔ si if yu blant pe bak bifo dɛn go disayd if yu fit fɔ trɔs to dɛn. We kɔmni dɛn lɛ k Experian , Equifax ɛn Dun & Bradstreet we wach ɛn gɛda aw yu blant yuz krɛdit chɛ k yu krɛdit , bɔ ku tɛm dɛn kin mɛmba dɛn tin ya: | Ɔmɔs Ia Di Biznɛs Gɛt | Ɔmɔs difrɛn difrɛn say yu aksfɔ trɔs insay di las 9 mɔnt dɛn | Ɔmɔs difrɛn difrɛn say yu aksfɔ trɔs insay di las 6 mɔnt dɛn | | --- | --- | --- | | Ɔmɔs tɛm yu let fɔ pe | Di kayn kɔmni ɛn aw big

FAQs

What is the difference between business credit and personal credit?

Business credit is separate from personal credit and helps show the lender that the business can repay. Personal credit is linked to the owner, while business credit should be built and managed under the business’s own name and structure.

What does a lender check when reviewing whether to approve a loan?

Lenders review how the borrower has paid back previously, using credit history and reported credit activity from bureaus. They also consider repayment reliability and whether the agreement fits the business’s plan.

Why are business setup steps like EIN important before applying for funding?

An EIN serves as a federal tax ID that enables tax filing and business banking. It supports applications for business credit, permits, and licenses so the business can operate and be evaluated separately from personal finances.

Sep 17, 2026

Uploaded by Aurora