Grants Available for your BusinessEditor
If you’ve started, or are thinking about starting, a new business, you may have heard about government grants to help finance your venture. I’m here to prepare you for what you’ll learn after hours on a computer or on the phone. Unfortunately, these grants are only available to a very limited range of businesses. The government does not provide grants for starting or expanding a typical business. It also doesn’t cover operational costs or debt payoff.
The grants I did find were available to businesses in the scientific, environmental, and medical research fields, for example. These grants are federally distributed and earmarked by Congress and the White House to coincide with specific government agencies. If you’d like to see if your business meets requirements for a government grant, check out www.Grants.gov for more information.
Stepping below the federal level of grants, more local government grants may be available. I personally went to research grants available for business owners in my state. The subsidies I was able to find, at the state level, were; environmental, community, science, transportation, and architectural-based. I went one step further to check the city website for my town and found the results looked about the same as they did at the state level. If your business is in any of those fields, check it out. It could be worth your while. Otherwise, your less likely to find any help there as far as money you don’t have to pay back. Despite a lack of grants, the government sites do show you lending options that may be of use to you.
Women entrepreneurs are increasing in staggering numbers. Nonetheless, they still get turned down for loans more often than their male counterparts. There are grants that are available to women and minority business owners. Every state has a website with a business section. Designated money and funding opportunities can also be found on their site. Your state isn’t the only place for you to find these opportunities. Check out MBDA, the Minority Business Development Agency. They are a with the U.S. Department of Commerce and help minorities and women to start and grow their businesses. Women entrepreneurs are also able to obtain grants from private companies. Again, there is some homework to do to find them, but if you’re looking for free money, it could be worthwhile.
All of this isn’t to say that grants in any industry don’t exist, only that you will have to do a lot of footwork to find them. To best prepare you, there’s a list of items you’ll need should you decide to pursue a grant. Among that list are applications, guidelines, competition with other applicants, reports, and sometimes even essays.
Of course, should you still need funding, don’t be afraid to get in touch with one of our business advisers. We work with most industries and all backgrounds.