You may be considering to start a business but aren’t because you know that it can become expensive.
They also require a lot of time, but quitting your job might not be an option because you need a stable income to provide for your family. You would take a loan, but banks usually hesitate giving money for something that’s unstable.
If I told you that there was an option around the money burden, would you try it out?
Small business grants are an easy way to get money and kick-start your business without as much at stake.
Why Use A Small Business Grant?
Finding financial help is usually the hardest part of starting a business.
Starting a business requires a lot of money and investment. With the support of many of these grants, it is entirely possible to finally achieve your dream of starting a business at home, with all the comforts and luxuries provided.
There are several avenues that you can take to access these grants.
However, to be considered, you have to prove that you are capable of running a business. The requirements for the grants depend on the organization, although most of them tend to have similar conditions.
You may qualify for one grant and fail in the other. They are designed differently to fit the different types of financial needs. They usually just check your credit for most eligibility criteria.
Small Business Grants
Small business grants are mostly considered if you have a small business running already and are looking for funds to expand. Keep in mind that all of the grants are different from state to state (not by a lot but there can be variation) so check what you can get in your state specifically.
If you express an interest to run a business you are most likely to be considered for these grants, for obvious reasons.
You are usually given an upper hand if your idea will help the greater good.
For instance, someone who comes up with a business idea that would be beneficial to the youth, the aged and drug addicts as well is very likely to get the grant. These grants are also very competitive because of the high number of applicants.
Don’t feel discouraged if your idea isn’t for the “greater good.” As long as your idea isn’t anything that can negatively impact someone’s life, you are fine.
When applying for these grants, keep the deadlines in mind. There is nothing worse than missing a deadline. Also when you are at the final applying states, keep all documents close by so that you don’t miss out on a chance to receive a proper business grant.
Business Grants for Veterans
There are grants designed to help those who are or were veterans who served the country.
The only requirement is for her to check with the relevant government offices for the available grants. You may need to make constant applications because there are very many applicants. This grant has specific requirements, but can be a great help to those who fit the criteria.
Most organizations will let you get a grant easier than other qualified people because you have served the country. Just come with an attractive business idea and be ready to explain what the grant can do for your company.
Businesses Owned by LGBT
No matter who you are, who you love and what you consider yourself, there are many grants available to you if you are going to start a business.
SBA proudly serves LGBT, specifically giving you grants and loans for you to start this business endeavor.
The LGBT inclusion and outreach team aims to bring focus on economic empowerment in the LGBT business community by providing access to the SBA’s programs and services.
You can get offered counseling on their 8(a) Business Development Program as well.
A number of District Offices have a strategic alliance with the LGBT business community.
- Greater Houston LGBT Chamber of Commerce
- Greater Seattle Business Association
- LGBT Detroit
- Mid America Gay & Lesbian Chamber of Commerce
Grants For Businesses Owned by Women
If you are a woman or a single mom who is considering to start a business, there is a lot to help you out.
Typically, females didn’t stretch themselves to start a company or even be a leader. Either they would get scared, get made fun of because they are female, or just underestimate what they are capable of. But as times are changing, more and more females are getting encouraged to start a business.
But sometimes, due to finances, it can be hard, especially if you are a single mom and your entire family relies on you for expenses.
I made a list of a few resources for you to check out as well:
- Asian Women Giving Circle
- Amber Grant
- Eileen Fisher Women-Owned Business Grant
Luckily, there are many types of small business grants available for females to use so you can kickstart your career and company.
Grants Available to Minorities
If you are a minority, you might feel discouraged to even apply for grants since you might think that other people are more likely to get it than you.
But there are so many grants that are made just for you and will give you an equal chance of getting the grant. What really matters is your business idea, not who you are and where you are from.
Don’t let that discourage you. In fact, use that to your advantage to motivate you.
But if you need a little kickstart, here is a list of places for you to check out:
- Minority Business Development Agency
- National Minority Supplier Development Council
- MillerCoors Urban Entrepreneurs Series
- Native American Business Development Institute Grant
- Community Programs to Improve Minority Health Grant
Grants From Non-Profit Organizations
These grants are offered by non-governmental organizations to people starting a business. There are numerous of these organizations so keep looking for application opportunities. Non-profit organizations usually have more funding from the government, making them a better option when looking for grants.
Since these are typically “private” organizations, they usually have investors or founders associated with it, providing you a lot more money and advice.
This might be a more tedious route since they are a little slower to respond, but you should still try to apply for it.
How SBA Can Help You Out, No Matter Who You Are
A company that provides excellent help specifically for business grants is SBA (Small Business Administration).
The organization is in place to help people who are interested in starting a business or people with their own business already. SBA understands the need for more and more small businesses and the owners of the organization will do what it takes to ensure that people are starting or running small businesses have an equal opportunity for success.
The government-owned company has local offices that you can talk to, along with a lot of resources about starting a business and what you need to do legally before your venture. They have at least one office in every state; you can take a look here at their local offices.
There are many resources on the website that cover how to apply for grants and what to do once you have been selected.
There are a great variety of topics that are covered to make for a wide range of government help and advice that can be given. All of the resources should be used carefully when planning to start a business that gets off its feet financially and continues to provide a lot of positive turnarounds.
If you desire to lead a successful life should at all times take advantage of these grants. You need a workable business proposal and persistence to apply.
All said and done; business grants are designed to help you lead a better life and be independent members of the society.
If there are any other programs you want to know about or want to explain your experience, feel free to comment down below!