Minority business grants?

Question by james g: Minority business grants?
I am a minority looking to start his own small business. I am looking for grants which may help me in my endeavors. However I am unsure of where to look for government grants. Basically I would like to find resources such as websites or places I need to go to obtain such financing.

Minority Grants
Best answer:

Answer by imisidro
According to the Minority Business Development Agency of the US Department of Commerce http://www.mbda.gov/?section_id=3

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Grants available are limited and generally for research projects—biotech or high tech.
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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 starting a for-profit business.

One possible exception is for companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs http://www.sba.gov/aboutsba/sbaprograms/sbir/index.html , which fund the research and development of technological innovation that meets specific government needs.

Your best bet actually will be from the states if they offer grant programs for women (or any other special interest groups — minorities, women, disabled, veterans, etc). Or check with non profit organizations, particularly women organizations if they offer grants. Examples include

Iowa Women’s Foundation http://www.iawf.org/
New Mexico Women’s Foundation http://www.nmwf.org/guidelines.html

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html

“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 http://www.sba.gov/financing 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.”

Nonetheless, 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 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.

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.
http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show

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

Add your own answer in the comments!

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what is the most reliable source for business grants for women?

Question by DEBBIE A: what is the most reliable source for business grants for women?
Looking for grants for women with small business (hair salon) that are real.

Minority Grants
Best answer:

Answer by imisidro
There are a number of loan programs for women business owners as well as certification program (8A) to help you compete better in the government contracting process. But not really grants

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html

“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 http://www.sba.gov/financing 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.”

Nonetheless, 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 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.

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.
http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show

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

What do you think? Answer below!

Qualifying for a Business Grant Can Be Easier Than You Think

Qualifying for a Business Grant Can Be Easier Than You Think

As the government offers grants for almost any reason, it is perhaps the business grant that is the most popular and useful. Many people try to begin their own business every year and many more only hold the knowledge of how to do so, but out of a lack of money they don’t. It is for these people that the business grant was created. In general, the business grant is given to those applicants that have a solid layout for a business plan and a thoroughly researched return expectancy in the year. The more detailed the reports are, the better of a chance that you have to get the grant.

These business grants are given to new business owners, future business owners and existing business owners. Now you can open your own business now with over 80 sources of Federal business grants. There are many different types of business grants such as: Free Government Money for Women to start their own business, Free Government Money for Minorities to start their own businesses, Obtain Free Government Money for equipment, rent, offices, expenses and overhead. You can use this money to give yourself a salary as you begin your new journey. You must remember that this is Free Government Money and NEVER has to be paid back. It is the best way for business owners and wannabes to get the money that they need.

If you are looking for funding for an existing or new for profit business, you might encounter difficulties in finding and getting grant funding. Government grants are generally (though not always) given to non-profit organizations for programs and services that benefit the community or the public at large. Don’t be discouraged though because there are many grants that are given to for profit businesses as well. If you want to know if your business or business idea is eligible for a grant, visit the government’s business grant website at www.firstgov.gov

Some of the businesses that are eligible for a grant are: non-profits, self help business groups, anything to do with the arts like publishers or galleries, magazines etc. and businesses that are hoping to be the sole provider in a specific locale. You can also get business start up money if you are able to give an outstanding proposal. Sometimes the government grants will be given to people with a great proposal even if they are not necessarily regulated under the arts or beneficial to the community at large. You just need to WOW them in the application process.

Minority Grants

By Abbas Abedi—To get more info on making money an alternate way, you might take a look at my blog Internet Marketing Strategy

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Small Business Grant Tips

Small Business Grant Tips

If you are looking to open a business of your very own, you are not alone. Every year more and more people make the decision to stop working to make other people rich and to start their own businesses. For most of them, having the start-up capital that is needed is harder than one might think.


Small business grants are often a hot topic with new business people with a small amount of money and little access to other capital. We have all seen the many media claims about “Free Government Grant for Small Business.” It seems all too easy to get these days.


Of course, if it were really that easy, all you would have to do is find a government small business grant to apply for, apply and before you knew it you would have the money to grow your business.


Most U.S. government departments, like the Department of Commerce, do not provide any grants for help in starting a small business. Grant programs are available through state programs and other groups as well. The grant programs are often awarded to people in fields such as medicine or education, and they all have specific eligibility criteria.


The process of finding a small business grant program to apply for and reviewing the requirements to getting is very time consuming. After conducting a two-week search for a medical publisher, I found the requirements to be very specific and difficult to meet.


Eligibility can be based on your location, and your business’ sales revenue to the application date, years in business, sex, race, and even for the purpose of funding. If your business sets out on a small business grant seeking mission there are some questions that you will have to answer which are:


Do you have the time and the resources available so that you can search for a small business grant program and apply for it?


Can you afford to hire a consultant if you are unsure of how to do it, or can you learn the grant application process by yourself?


Does your business need the money right now for expansion or can you wait up to a year?


If you do decide to ask for a grant, will it hurt your business because it will be taking away time from selling and marketing?


If you want to take a look at the small business grants available, the best place to start is the Catalog of Federal Domestic Assistance (CFDA). The CFDA lists thousands of grants from all government agencies for free. Many business grants will be geared towards minority business development or rural business opportunity grants. Do not overlook the other assistance programs available such as equipment and training.


If you do find a small business grant program that is available for your business, you will need to be ready to go through a lengthy, approval process. With today’s funding cutbacks and the high amount of competition you will want to be prepared for it by following these quick tips:


Small Business Grant Tips


Provide the grant company with all of your complete and accurate information in the application. An incomplete application will likely not make the review process or it can add delay your grant form getting approved.


Get to know your grant officer and their constraints, budget and concerns with approving your grant.


Stand out among the crowd with a well-prepared business plan if required. You will have to demonstrate your understanding of the business. Show how the money will bring the benefit the government agency wants.


Bring in outside experts or consultants to help you if you need it. An accountant or consultant can add credibility to your application process.


Keep in touch with the company offering the grant. Make regular contact with the grant office in a professional, but non-intrusive manner.


The task of locating and applying for a small business grant is not for the people who are not willing to go through hell. Take an honest look at alternative sources first, such as loans, personal credit lines, friends and family.


Minority Grants

Arnulf Kohler is a contributing editor for the Money Community. For more information about small business grants, please visit http://www.MoneyCommunity.biz.

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