Business and Finance

Posts Tagged ‘Grants’

The Federal, state and local governments have a wide range of financing programs to help small businesses start and grow their operations. The programs include low-interest loans, venture capital, and scientific and economic development grants. The Federal Government offer grants to programs that fall under the following categories: Agriculture, Arts, Business and Commerce, Community Development, Food and N utrition, Health, Housing, Humanities, Information and Statistics, Law, Justice and Legal Services, Natural Resources, Regional Development, Science and Technology and Social Services.

The Small Business Development Center (SBDC) works with existing and startup small companies to help in every phase of the business cycle, including financing.City of Austin Small Business Development Program offers training and technical assistance to anyone starting, expanding, or managing a small business. They can be reached at OneTexasCenter,1stFloor,505, Barton Springs Rd., Austin, Texas .

Government grants are designed to assist businesses, but usually it  goes to agencies and nonprofit organizations which perform some service for business or benefit business in some way, such as community development in rural area. Online catalog from the U.S. Government contains a listing of all available government grants. You can also find this in printed form in Catalog of Federal Domestic Assistance, Faulk Central Library, Grants Center, 2nd floor .  Read more... (515 words, 1 image, estimated 2:04 mins reading time)

The State of Minnesota provides business grants to help the existing and aspiring small business women owners.   Though it is not plentiful, grants provide significant resources for business start ups. The Minnesota Business Development Corporation is in existence for the main purpose of promoting business development and job growth in Minnesota.   Under the Business Acceleration program, grants are given for upgrading the technology and better organization of the workplace.  

There are many grants available for women who want to start craft businesses, consulting, brokerage and record labels and more.   By becoming member of The Ladies Club 2000.com, women can get the access for grant information like how to get qualified for the grant and where to find the grants to begin the business or expand the business.

There are two different kinds of grants offered, new business grant and existing business grant.  In order to quality for getting the grants, they must be women with 18 years of age, a U.S. Citizen and should have paid the application fee to the Women’s Financial Fund.  Depending upon the quality of the business plan and the products marketed, business grants are sanctioned to women.  Since the grants need not have to be paid back, the credit history is not considered for giving the grants.    Read more... (524 words, 1 image, estimated 2:06 mins reading time)

Is there any need for a grant to finance the Ontario small business? Then the small business grants will assist in purchasing latest equipment, renovation of the existing business or growing it through advertising and marketing.

The Ontario government grants can also be used for expansion of the existing business or for launching of the small business. The small business grants from the Canadian or the Ontario government can just be taken by applying.

The cut offs for the application differ from one program to another. The application has to be submitted before the dead line. The sooner the application is prepared and submitted the better the chance will be for getting the grant.

Based on the size and the type of the small business, the eligibility for the Canadian government grant and the loan funding program will range from 00 – million in the form of grant.  Read more... (522 words, 1 image, estimated 2:05 mins reading time)

Small business grants are not just given away by government agencies or private institutions for helping you start your business. There needs to be a particular interest in your project in order for them to provide the funding that you need. And it’s not enough to have a good idea in order to obtain finance for it; you need to have a well made business project to convince them of your eligibility.

No Credit Or Income Requirements?

Though there is no need to reimburse the money on government grants, claims that state that there is no credit or income requirement in order to get approved for a government grant are far from being truth. Truth is that the requirements for approval are not present in the same sense as on private or federal loans but there is still a qualification process.

You may wonder then, what is needed in order to qualify for a government grant. The idea is that you’ll need to show that your business project is viable, and thus, you’ll need to show that you can be trusted which implies having a fair credit score and the ability to generate a proper income to show proof of the business viability.

Presenting a Viable Business Project

 Read more... (1168 words, 1 image, estimated 4:40 mins reading time)

It’s important to know that the U.S. Federal Government, as a rule, does not award federal grants to private for-profit small businesses. Unless you are a 501C3 non-profit agency that is organized for charitable purposes and tax exempt under the IRS tax code, your small business is not eligible for federal grants.

That’s the bad news. The good news is there are federal resources available for qualified small businesses to apply for.

The U.S. Small Business Administration (SBA) is the federal agency created in 1953 to help Americans start, build and grow businesses. The SBA serves people in the United States, American Samoa, Puerto Rico, the U.S. Virgin Islands and Guam. Although the SBA does not award grants to start or expand small businesses, they do have a wide range of loan programs available. You can access the Small Business Administration website at sba.gov. You can also find SBA programs in Federal Programs – Small Business Administration (SBA).

The SBA does have an exception to the “no federal grants” rule for small businesses, but it is targeted to innovation research and high technology companies. The Small Business Innovation Research Program is a highly competitive program that funds the startup and commercial development stages of an innovative technology, product or service. The Small Business Technology Transfer Program is another competitive program that funds awards to small businesses which partner with nonprofit research institutions for the commercialization of technology products.  Read more... (573 words, 1 image, estimated 2:18 mins reading time)