Small Business Grants
Getting a business start up grant
Small business grants from government or private institutions can range dramatically in the amount of funds they carry. A government grant for business can supplement your personal financial resources enough to get your business off the ground, especially if you are providing a valuable social or economic service to your community. However, in order to secure a business start-up grant, your business will need to align itself with the interests and objectives of the charitable source.
Small Business Grants
The restrictions and limitations attached to business grant money can be discouraging for a small business that is aching to get started. Private institutions like banks and business associations generally reserve their grants for not-for-profit organizations that fall within their preferred industries. Although leading banks and the U.S. Small Business Administration do not offer grants to start or to expand a small business, there are other organizations to turn to for financial help.
A government grant to start a business will be easier to come by than a grant from a private bank or business association, but these are still challenging to secure. Some financial assistance is provided by state governments; many state development agencies will offer a new business grant designed to support a small business start-up or expansion. Often, these grants will only cover a portion of your start-up costs, and you will have to provide the rest out of your own pocket.
Government Grant Assistance
Unfortunately, federal business government grants are only available to non-commercial organizations, mainly to be used for economic or educational development. However, if you are planning on starting a company that is based in the social services, like a daycare business, you might find that you are eligible for a variety of grants.
If you cannot secure a grant from the government, there are other funding options available. For instance, although the government may not give you the money you need, they will offer free business advice for planning your business and securing a low-interest, SBA-backed loan. You can begin your search by visiting the Catalog of Federal Domestic Assistance, an online database listing all grants and assistance that is provided by the United States federal government.