The U.S. Small Business Association is launching an online cash flow management tool for disadvantaged American businesses, the SBA announced Wednesday.
The program assists small business owners with the following tasks:
- evaluating prospective customers’ and suppliers’ ability to pay
- monitoring business relationships with alerts and notifications of key changes
- collecting outstanding debts and avoiding future losses
In order to qualify to use the tool, businesses must be small disadvantaged firms in SBA’s 8(a) Business Development program or certified in SBA’s Historically Underutilized Business Zone program. These businesses are generally owned by women, minorities, those with disabilities, or are located in designated geographic areas.