Grant Sba

Grant Sba

Government Grants for Starting Or Growing a Small Business

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. This is not to suggest however that no grants are available to anyone at any time.

The whole idea of a grant is to provide capital for some activity the government wants to encourage. Typically this means in less desirable areas or opportunities. So although there may be grants available for things such as encouraging the arts or research into a specific disease, unless you can fit your business into these niche areas, there is not a lot of grant money your dream.

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. There are other ways however that you might explore to fund a small business.

Of these small business financing options, one of the most popular is the loan. That's right, just go out and borrow the cash needed. If you've done your homework and have a solid business plan then the thought of self financing through your personal credit lines shouldn't worry you. After all, you're really betting on yourself that you will be successful.

There is a lot of confusion about the Small Business Administration. Yes, this is the government agency dedicated to helping small business…just not with grants. The SBA actually funds a very small portion of the total number of Small Business Loans that are called SBA type loans. What the SBA actually does is "guarantee" to the bank that the money will be paid back, either by you or as a last resort by the SBA/government. If this sounds a lot like the Federal Housing Administration (FHA) you are correct.
Like the FHA, the loan needs to meet their lending or "insurance guarantee" standards. For a small business loan, it's much the same. The SBA will look at your credit, ability to pay back the loan and the business plan.

Other potential sources of Private Loans can be found based on ethnic, religious, military service – veterans, or other sub groups of the population. Check out all resources until you find a group willing to finance your dream.

Finally, never give up. I personally know someone who wanted to start a home construction business and needed funding for his first home. The SBA was not an option, and being young, most banks just looked and politely declined. Long story short, he ended up going to 53 different lending institutions but he DID finally find a small, local savings and loan willing to take a chance on the new guy. Why? Because although he didn't have all the necessary "security" they were impressed by the list of financial institutions he went to and was turned down but never gave up.

About the Author

Abigail Franks writes on a variety of subjects which include family, Health, and Home. For more info on Business Grants and starting a business visit the site at http://www.4envelopes.info/how-to-start-small-business.html
and http://www.business-grants.primo-living.com

SBA Minority Grant to start a small business....?

I am interested in knowing if anyone has received the SBA Minority Grant to start a small business??? if so how long did it take for u to receive funding? thanks.

SBA doesn't give out grants. The best thing to do is make your business plan look and sound GREAT! A business plan is for loan officers or people willing to invest in your idea to find out the way they will get their money back once they were to invest in you and your business.

I wrote one for my uncle for a restaurant, which he'll be getting a $120,000 loan for starters. It will definitely be an advantage to get yours done. Contact www.writecompanyonline.com for your business plan and freelance business writing needs.

President Obama Small Business Credit - SBA Loans

 

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Grant Sba

Tagged with: business • government • grant • grants • sba

Filed under: Government Education Grant

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