economic development

Qualitative measure of progress in an economy. It refers to development and adoption of new technologies, transition from agriculture based to industry based economy, and general improvement in living standards.

When starting a company, consider an SBA-guaranteed loan. Under this program, the U.S. Small Business Administration (SBA) guarantees a portion of a loan, often up to 85 percent, and enables a small business owner to qualify for attractive interest rates and financing options. For more information, go to www.sba.gov. Also research local small business loan programs. These programs may include loans with below-market interest rates or no origination fees. Start by contacting your state or local department of economic development.