Thu 28 Aug 2008
How to Obtain Small Business Grants
The U.S. Government has recently recognized the positive role that small businesses play in increasing economic growth.
If your small business needs funding to start up or to expand, then you could try to obtain a small business grant. A grant can help you to turn your vision into reality.
Who Offers These Grants?
While the federal government generally does not give out grants except to small scientific ventures or non-profit organizations, there are various state development agencies that provide such grants to entrepreneurs and small businesses in order to start or expand.
You will need to check if your state has such agencies in place. You can check your local government website for details on agencies that offer small business grants.
What Role Does The Small Business Administration [SBA] Play?
While the SBA does not provide business grants, it does offer loans at very attractive rates of interest.
While the SBA itself does not make the loan, it acts as a guarantor for loans taken out from banks or lenders that it is associated with.
The SBA also offers invaluable advice in starting, expanding and even selling your small business.
Who Can Qualify For A Business Grant?
If you are over 18 years old and need money to start or expand a business, then you can qualify for a small business grant.
Grants do not require any collateral, deposits or credit checks and you can get a business grant from $500 to $50,000 from state agencies.
If your state has an agency that provides small business grants, then you should prepare a professional proposal and submit it to them.
If you qualify for a business grant, then this could be your best opportunity to start or expand your small business.