Guide to Getting Small Business Grants

March 4, 2010 · Posted in Alternative Financing · Comment 

Do You Know that Small Business Grants Can be Waiting for You Almost ‘Round the Corner’?

We are living in the times when governments understand the value of small businesses for the global economy. Small businesses are the pushers and testing grounds for new trends, they provide lots of jobs for the masses, they make any society more stable and happy. So governments have created special funds, programs, associations to provide government grants for small business.

You can be surprised to find out that there are so many types of grants that you can be missing and that can help you out almost instantly – minority small business grants, small business grants for woman, federal grants for small business, business start up grants and even free small business grants. All these types of grants act as a real proof that they really help many small businesses to succeed.

There are two typical issues about getting small business grants.

(1) WHERE to Get Small Business Grants.

Start with doing local search for ’small business grants’, ’small business bank loans’, ‘venture funds’ and ‘angel investors’. This will give you a pretty big list of places to apply for help.

If you are in the USA – there are some majors that provide this type of financial assistance – for example, Small Business Administration (SBA) that has many departments that fit all possible types of businesses or help. It can also be wise to check the catalogue of Federal Domestic Assistance – there you can find many good places to apply for the grants.

For businesses outside US there is also a way to succeed. Government, public or private organizations in your country must be giving some help to new small businesses within the framework of these institutions:

- economic development programs, funds, departments, opportunities, initiatives;
- banks (usually they have special small business loans and programs);
- venture funds, companies, firms;
- credit partnerships;
- angel investors (this type of business got very popular recently).

The list is big, but it means that you do not need to trust one business grant opportunity. The more opportunities, the better for you!


(2) HOW to Get Small Business Grants.

There is no magic formula to safe getting of grants.

But you can increase your chances using these simple tips.

Build a good business plan. Surely you are starting your business with some plan, but here you need to be very convincing, well-prepared to any questions. People who read this plan must understand and feel that the only element necessary for your success is the money, the grant.

Keep in good contact with your grant agent (manager, officer, anyone who is in charge of all details). Don’t be a pusher, but make sure that you are in control of the situation. A lot will depend upon this person, maybe not the final decision, but a lot. Make sure he/she can reach you at any moment. And would be great if you have his/her contact details, the more, the better.

Try to find someone who already got a grant from the institution or organization you apply to. If it is possible, find out all details before applying there: what problems this person had, what questions asked, what impressed the grant givers, etc.

And the last advice, if in one place it did not work, don’t give up. You can either appeal or try another place.

Only those who knock at the door can see it open.

Author: Nickolay Bokhonok
Article Source: EzineArticles.com
Provided by: Guest blogger

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Business Grants

February 12, 2010 · Posted in Alternative Financing · Comments Off 

One of the best places to research the availability of business grants and loans is the Small Business Administration, an agency of the federal government with a mandate to help business, especially small business succeed. Despite what many people tell you, the idea that the government is just sitting around with a pile of money waiting to give out to you or any other small business is just plain wrong. The idea of obtaining a small business grant, for many small business owners, is great.

Your chances of obtaining grants for your business dramatically increase if you have a non-profit organization. This isn’t to say that assistance isn’t available at all, just that grants are probably a long process when and if you happen to find one where your small business fits. While the Small Business Administration does not have any monies to provide directly for business grants and loans they can direct businesses to a number of government agencies and departments that do provide this type of assistance.

Even though the category of Business and Commerce may be what appears to have the largest selection of resources for business grants for women, consider the other categories as well, according to where your business falls. There are many types of grants offered by the Governments and other financial institutions that include individual grants for personal necessities, business grants for starting new business, education grants for funding education and many more. There are two main types of financing available for small businesses; small business grants and small business loans.

You’re not along if you need small business grants and loans to get your business started. If you want to avail of free government business grants then you need to locate a program that provides grants to start up businesses. Government’s Catalog of Federal Domestic Assistance (CFDA) provides a listing of Government grants and other types of assistance that you can receive.

The downside of grants is that business grants for women are not widely available. So, are there any grants available to you as a small business owner? New business owners and existing business owners are eligible to apply for business grants.

Small business administration grants are provided for small businesses that are already in operation. Small businesses always play a significant role in the economic growth of a country and that is the reason governments are always ready to offer financial resources to facilitate small business. This type of service offered by the government is only obtainable to businesses that barely needs a financial support but can not apply for a loan because of inadequate security.

There are indeed many grant and loan programs for small businesses, including many that are administered by state or local government, rather than the federal government. Having pointed to the drawbacks, there are many genuine government grants for both small businesses and individuals available, and these can be substantial. That’s you’ll actually be able to access whatever grants, services and resources are available, because the nonprofit organizations are the ones who work with indidivuals and provide “service delivery.

First, let’s take a look at what type of grants are available. The allure of these so-called small business grants is understandable. If you are interested in looking for a company that can provide you with small business administration grants, you can try searching through the World Wide Web for information.

If you are considering starting your own home business in the near future you should consider researching small business grants and loans now. Federal Grants provides detailed information on Federal Grants, Federal Pell Grants, Federal Government Grants, Federal Grants For Small Business and more. Small Business Loans provides detailed information on How To Get A Small Business Loans, Minority Small Business Loans, Small Business Bad Credit Loans, Small Business Government Loans and more.

To conclude, small business loans are usually awarded to all kinds of businesses to help them to begin and to succeed in their trading. The government is more than willing to help out businesses especially with the economic condition that still remains volatile and unpredictable and with the need for more economic development.

Author: M Zuraimy
Article Source: EzineArticles.com
Provided by: Programmable Pressure Cooker

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The Evolution of Financing a Small Business

February 7, 2010 · Posted in Alternative Financing, Start Up Loans · Comments Off 

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Creative Commons License photo credit: Vincent Boiteau

For years I have read the popular business magazines, all having so called experts write articles for entrepreneurs on how to finance their business. “The top 10 strategies for financing your start-up”, “How the SBA can help your small business”, “Personal credit is the key for entrepreneurs” and so on. In most cases I’m willing to bet those writing these articles are journalists that have never had a successful start-up. How can I come to that conclusion you may ask? Because of the bad advice they give.

Going to the SBA for a loan, using your retirement funds, tapping all your personal credit cards or giving up 75% of your idea to an investor are all ideas I have read from the popular magazines. The thing is, in every one of these cases you are using your personal credit and not separating you from your business. You are putting 100% of your credit and assets at risk. Read more

Originally posted 2009-02-16 05:41:45. Republished by Blog Post Promoter

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How to Use Home Equity Loans to Finance Your Business

December 5, 2009 · Posted in Alternative Financing · Comments Off 

Many small business owners who are in need of financing do not realize the tremendous resources that are available at their fingertips. Those who own a home often have another type of loan available to them, the home equity loan or line of credit.

These loans eliminate some of the problems posed by collateral. If you own a home or part of a home, that ownership stake can be used as collateral instead. This has its pros and cons; it’s good because it is available to many more small business owners, but it could potentially become a problem if the borrower is unable to pay back the loan. In this case, the lending institution acquires an ownership stake in the home.

Home equity loans are generally available from banks in two forms-the traditional loan format and the revolving line of credit. Read more

Originally posted 2009-08-14 19:45:50. Republished by Blog Post Promoter

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