Posts Tagged ‘small business grants’

How to Get a Government Grant for a Small Business

admin - Sunday, 22 February 2009 10:17

You can get assistance to start a small business through government grants.  There are small grants available to help with the start of a business, assistance for an existing business, to train employees or build your business!

Where do you start?  You must first start with doing your research. It is important to find out the information you need and to start out locally or on a state level search for these grants. It is also a great idea to find out how businesses in your area are obtaining funding and where they are seeking money.  For instance, if you live in a rural area, there are small grants available just for living in a rural area with a specific population of people.   There are many places to find this information on the internet or in your local library.  Once you find a grant, check the dates that they are accepting applications and also if you meet their requirements located in the grant description. Most every grant has a list of requirements to describe the type of recipients they are looking for.

Utilizing the billions of dollars that the goverment, city agencies and for profit businesses set aside for grants, you can apply and receive funding for a vast variety of business types and needs.   Using this money is a great way to establish a business and also enable the business to grow.  There are so many grants, you need to focus on those that will help you meet your goals.  Look for the grants that are suitable for your circumstance and business requirements.

It is also important to note that once you find the grant you are looking for, you will need to submit a business plan along with your grant application.  This will help the people involved in awarding the grant to get to know you and your needs to determine if awarding the grant will be in everyone’s best interest.  Your business plan should reveal what your goals are, long term and short term. You should also include realistic needs for funding and your salary as well.  Are you wanting to run a home based business or are you going into retail?  There are many things to consider as you indicate what your needs are.  You don’t want to undercut your needs or ask for too much money.

You can apply for multiple grants at the same time.  In case one does not get awarded, you have more chances to get another without wasting time.  Once you are awarded a grant, you will want to continue doing your research and finding new grants to apply for as well, as your company grows. You can receive additional funding.

Often times, as you are awarded a grant, the entity that awards that grant may want an accounting of your progress.  It is important to keep up to date records and notes about the business.

Individuals looking for funding in goverment grants for their businesses can be awarded as much as $5,000 to $500,000.00 dollars.  Depending on your needs there are a wide range of grants available.  These grants change consistently, so do your homework!   There are billions of dollars just waiting to be spent and as a business owner, you could be the lucky recipient.


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Government Grants for Women

Women owned businesses are growing at a rapid pace.  More women than ever before in history are going after their dreams and starting their own businesses.  Money or lack of money can be a huge stumbling block to getting a business off the ground.  The funding search can be a challenge and most women just do not know where to start. Goverment grants are being awarded to women and helping women all over America become business owners.

There are two types of business fundings available to women.  There are business grants awarded by entities that want women to succeed.  Not for profit groups offer grants, goverment agencies and for profit companies are just a few of the types of entities that offer help to women.  Grants do not need to be repaid.  And there are loans. The Small Business Administration is one of the goverment agencies that support women owned businesses and are there to provide reasonable short term loans to get you on your feet.

Grants can be used for supplies, advertising, expenses, paying employee salaries, equipment, etc.  Your business will grow and the funds can be used for a multitude of needs that you may encounter.  A solid business plan is a must with any funds that you choose to pursue.  When you apply for the grants, you will also be required to turn in a business plan to show what the money will be used for and what your long and short term goals are with the business.  These applications are not difficult to fill out and business plan software can be found online or at your local library.  Many people shy away from grants, thinking that they are too hard to figure out. This is simply not true. Billions of dollars are available for grants each and every year and many grants go unawarded because of the lack of applicants.  More women are encouraged to take advantage of the help that is being offered.  Also, having a well thought out business plan will only help your business succeed and help you identify your needs before asking for a grant. You don’t want to ask for too little money or too much.  Your business plan will help you ask for the right amount and let the entity that you are applying to, know that you are planning a successfull business.

Women or minorities will find that there are thousands of grants being awarded daily to the recipents who apply for them.  You will want to look for the requirements for each of the grants you are applying to, to make sure it is a great fit.  A women owned grant is usually asking for the requirement that a women own at least 51% of the company. You can have male partners, but it will usually require that a women own just over half the company. You will need to be a U.S citizen, a tax payer and your credit score will usually have little bearing over the decision. The entities issuing the grant will want to see a business owner who is prepared to go into business and is enthusiastic about the business idea.  They want to see a women who has done her homework!

You will want to apply for multiple grants and search on a local and state level as well.  Many entities or agencies that are giving the money away, like to know you reside in the same state as they do.   Research grant websites carefully.  You will want to look for websites with extensive help, great directories and up to date information. Those that help you with a business plan template will help you too.  Websites like  www.WantFreeMoneyGrant.com are a great resource and proven website that will provide up to date information.

You are well on your way to finding the grant that will suite you!  Apply for the grants you are looking for and join the many women who found success and help through these goverment grants.