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You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration www ... than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born. Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) www ... and Grants.gov www ... - these are two FREE sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture. Even SBA does NOT give out grants. From the SBA website www ... "The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See www ... for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments." Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE. 12 ... Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs I suggest you read the following books to get ideas of how to finance your business: Financing Your Small Business www ... Small Business Financing: How and Where To Get It www ... Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing www ... The SBA Loan Book www ... Angel Capital : How to Raise Early-Stage Private Equity Financing www ... Financing Your Small Business (Barron's Business Library Series) www ... For private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online gtionline ... . It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don't have listings of private foundations who give grants to would-be entrepreneurs.

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www ... www ... gtionline ... www ... www ...

by imisidro

3 years ago

Asker's Rating: 

This is a popular misconception. Government grants are reserved for non-profits, or to foster innovation; to back companies developing cutting edge technology which is viewed as too risky for conventional financing, but necessary to keep the U.S. in the lead technologically. The only assistance offered to small businesses is an SBA loan. For this you will need excellent credit, a business plan, and some of your own money to put in. With an SBA loan, the Government doesn't give you money, nor do they loan it to you. The Government becomes your co-signor guaranteeing 80% of your loan back to the bank if you default. There is NO free or easy way to start a business. That's why most end in bankruptcy. Personally, based on the type of business you want to start I think you'll be wasting your time with SBA. Talk to a local lender about financing your first truck and perhaps a small operating line of credit. Or, look online for leasing companies to finance the truck. Keep in mind that most construction companies you work for will be very slow payers. You'll probably need about two months operating expenses saved up to float you until you start receiving payments.

by questionable reality- 3 years ago