Loans for the Disabled Are Available For Those Who May Need Them

Loans for the disabled for business purposes is provided through the Small Business Administration (SBA) and state vocational rehabilitation programs. You can get information for business financing by contacting the Small Business Self-Employment Service (SBSES).

Some Obstacles That Disabled Entrepreneurs May Face

The most obvious obstacle may be the extent of your disability. As you know, starting and operating a business will demand a great amount of energy and stamina. Only you can determine whether you are up to the task.

In additional to the usual financial risks that common to most businesses, you may risk losing some benefits from other disability programs. For example, if you are currently receiving Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI). If you business income puts you outside of the income and asset limits of these programs, you will want to weigh the pros and cons of owning and operating a business.

You will also want to make sure that you comply with any Medicare or Medicaid requirements if you are enrolled in either of these healthcare programs.

The rewards of owning and operating a successful business are no different for a person with a disability than for anyone else. The exception may be that the victory is sweeter because the disability may have required you to overcome additional obstacles or be more creative in the execution of your business process.

The feeling of accomplishment that comes from taking an idea and creating something out of nothing is hard to beat. You will have a sense of independence, knowing that you can provide for yourself and family.

The rewards of owning and operating a successful business are no different for a person with a disability than for anyone else. The exception may be that the victory is sweeter because the disability may have required you to overcome additional obstacles or be more creative in the execution of your business process.

The feeling of accomplishment that comes from taking an idea and creating something out of nothing is hard to beat. You will have a sense of independence, knowing that you can provide for yourself and family.

The general SBA Loan programs that are available to other special-needs groups also provide loans for the disabled. Some of these programs are the 7(a) Loan Guaranty Program, the 504 Loan Program (Certified Development Company), the MicroLoan Program, Disaster Discovery Loans, America’s Recovery Capital Loan Program (ARC).

Each state has resources for employing and assisting people with disabilities. The Department of Education offers a list of the Vocational Rehabilitation Offices by state. (A new window will open)