can anyone tell me what the best wat to get a business start up grant is?
February 28, 2009 by Tips for Finding Grants
Filed under More Grants Answers
Can you answer Erin T’s question about Grants?:
I want to open a photography studio but I have no money to get it started. I have a lot of the initial stuff (camera, lighting, backdrops,etc.) but I do not have room at my current location and cannot afford to move. My first thoughts were a grant but any kind of financing ideas would be appreciated.
Educational Foundations
I want to open a photography studio but I have no money to get it started. I have a lot of the initial stuff (camera, lighting, backdrops,etc.) but I do not have room at my current location and cannot afford to move. My first thoughts were a grant but any kind of financing ideas would be appreciated.
Educational Foundations
Grants Feedback: Find your local Small Business Association office and make an appointment. They can help you with just about everything, including writing a business plan (essential!) and finding a way to finance it!
Grants Feedback: You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing
If you are going to need $35,000 or lower, check out SBA Microloan Program
It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business.
Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) and Grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.
Even SBA does NOT give out grants. From the SBA website
“The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments.”
Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE’S NONE.
Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program
Grants are also often given to non profit 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 of how to finance your business:
Financing Your Small Business
Small Business Financing: How and Where To Get It
Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing
The SBA Loan Book
Angel Capital : How to Raise Early-Stage Private Equity Financing
Financing Your Small Business (Barron’s Business Library Series)