What are good resources for an application for small business loans and grants? I would like to obtain loans and grants for starting a small business. Where do I start? What were some of your personal experiences with this process?
You have a better chance of getting a loan guaranteed by the government in administering the affairs of small http://www.sba.gov/financing a government grant. Read the SBA funding to learn about the criteria needed for borrowing
It is difficult to find grants to start a business. Contrary to the myths that some perpetuate, federal government and even private foundations hardly give grant money for a company to profit. And yes, the average grant paperwork - lots and lots of it, so a small industry of writers Grant was born.
However, you can go to the catalog of federal domestic assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government ensure transparency and information on grants. Browse the listings and see if you can find a grant that would support a business for profit.
Even if you buy books on "how to get grants" or list that supposedly has information on grants - they are all simple version of what CFDA has, albeit packaged differently. But even that news is the same - hardly Grants for starting a business for profit.
Even SBA does not provide grants. On the site of SBA http://www.sba.gov/expanding/grants.html
"The U.S. Small Business Administration does not offer grants to start or expand small businesses, even if it offers a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA provides some grant programs, these are generally designed to expand and strengthen organizations that help small business managers, technical or financial assistance. These grants generally support non-profit organizations , intermediate credit institutions, and state and local governments. "
Here is a list of federal grants for small businesses. See if there is a provision for individuals for starting a business - there is NO.
http://12.46.245.173/pls/portal30/CATALO ...
Most federal grants are given to specific target groups with specific requirements (eg business owners involved in transportation related contracts minorities from DOT - Grant # 20905 Disadvantaged Business Enterprises Short Term Lending Program
Grants are also often given to nonprofit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs
I suggest you read the following books to get ideas on how to finance your business:
The financing of small businesses http://www.amazon.com/exec/obidos/ASIN/1 ...
Small Business Financing: How and where to get http://www.amazon.com/exec/obidos/ASIN/0 ...
Financing of Small Business: A complete guide to getting bank loans and other types of financing http://www.amazon.com/exec/obidos/ASIN/1 ...
The SBA loan portfolio
Posted on March 25, 2010.
