Local Grants for Small Business

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We've all seen the headlines: "Millions in free government money for your business." Late-night infomercials, reference guides and websites promote the availability of grant money to entrepreneurs for starting and expanding businesses. Sound too good to be true? It is.

The truth is that federal and state governments do not provide grants for starting and expanding small businesses. However, the U.S. government does offer a wide-variety of low-interest loans and venture capital financing programs to help entrepreneurs start and grow their businesses. In addition, some federal and state agencies award a limited number of grants for very specialized business activities such as scientific research and development.

The following guide provides an explanation of federal and state loan, grant and venture capital financing programs available for your small business.

Small Business Loans

SBA Loans

The U.S. Small Business Administration (SBA) assists small business owners to start and expand their businesses by helping them get loans through private banks and financial institutions. SBA is the largest single financial backer for the nation's small businesses with a portfolio of business loans, loan guarantees and disaster loans worth more than $45 billion, in addition to a venture capital portfolio of $13 billion.

SBA offers a number of low-interest loan programs for new and expanding small businesses. SBA is not a lender, and does not grant loans directly to businesses. Rather, SBA is a guarantor of loans made by privately owned banks and other financial institutions that agree to follow SBA's guidelines.

To apply for an SBA loan, you need to visit your local participating bank or lending institution. When you apply for an SBA loan you are actually applying for a commercial loan, structured according to SBA requirements, which receives an SBA guaranty. This guaranty is portion of the loan the SBA will pay back to the lender should you default on your loan payments.

SBA's Financial Assistance Guide describes SBA loan programs, including eligibility requirements, and how to apply for them.

Remember, that you'll need to go through a local bank or financial institution to apply for an SBA loan. To get a list of SBA lenders in your area, contact your SBA District Office.

SBA Loans for Veterans

SBA offers a few loan programs to assist veterans and members of the military community:

  • Patriot Express Loan Initiatve
    The SBA's Patriot Express program provides loans for veterans and members of the military community wanting to establish or expand small businesses.
  • Military Reservist Economic Injury Disaster Loan Program
    Provides funds to eligible small businesses to meet its ordinary and necessary operating expenses that it could have met, but is unable to meet, because an essential employee was "called-up" to active duty in their role as a military reservist.

USDA Loans

If you operate a farm, the U.S. Department of Agriculture (USDA) has a Business and Industry (B&I) Guaranteed Loan Program that works in the same manner as SBA loans. The USDA provides guarantees of up to 80 percent of a loan made by a commercial lender. Loan proceeds may be used for working capital, machinery and equipment, buildings and real estate, and certain types of debt refinancing.


2005-07-23 20:52:10 by clarifications-here

Grants for small business

Yes, there are grants for small business but what Matthew Lesko doesn't tell you is that most of those grants are tied to Poor zones females, and minorities.
If you are a black female who wants to open a business in some poor enterprise zone somewhere, you can find lots of money options.
That prick Lesko has been taken to court several times. Personally, I went and looked at his book at my local Library. Cost me a little time and saved me a fortune in the cover price.
he's just another version of those pricks who sell shit by infomercial on late-night television.
I have yet to meet anyone who millions selling real Estate, selling for SMC, reselling all those cheap fucking Knives from QVC, or listened to the Shit Tony Robbins spouts.
Fuck em all.
or

2012-06-09 15:45:51 by CustomClassics

Mission Small Bus Grant - Help Local Businesses

Not sure if this is the right place for this because so many of the topics seem to be scams or complaints about the other topics. But I'll try anyway.
Small businesses: Apply for a $250,000 grant
Let us know how a $250,000 grant could help your business, and you could be one of the 12 businesses selected
It's Chase and Living Social giving out the grants.
If you apply, please reply here and I'll come back and vote for you.
But while you are at it, if you could vote for us we'd really appreciate it: Custom Classics in Anaheim, CA

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