Author: Michael

Know of any REAL grants or funding for minority business owners?

Question by Q_pie: Know of any REAL grants or funding for minority business owners?
I’ve searched the internet and all of these”grant” places want you to purchase their books. Are there any real grants available for minority business owners for expansion ?

Minority Grants
Best answer:

Answer by imisidro
It is hard to find grants to start or expand a business — whether for a minority or not. 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) 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.

Even if you buy books on “how to get grants” or list that supposedly has information on grants — all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same – hardly any grants for starting a for profit business.

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.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.”

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

One grant for minorities is called Minority Business Opportunity Center (MBOC) #11.803 – but the objective is “To promote access to key decision makers in the public and private sectors , facilitate the brokering of contracts and financial transactions, and identify and coordinate local business resources to benefit minority business entrepreneurs.” Applicants for this program are Federal, State or local government entities or quasi governmental entities, American Indian Tribes, colleges, universities, nonprofit organizations, and for project organizations.

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

For private grants, you may want to check the Foundation Center’s Foundation Grants for Individuals Online. It’s a subscription based website (.95 per month) but their opening blurb only says that the database is ideal for “students, artists, academic researchers, libraries and financial aid offices.” Entrepreneurs are apparently not one of them, so I take it they also don’t have listings of private foundations who give grants to would-be entrepreneurs.

http://www.cfda.gov
http://www.grants.gov
http://gtionline.fdncenter.org
http://www.powerhomebiz.com/vol66/grants.htm
http://www.sba.gov/expanding/grants.html

What do you think? Answer below!

How Minority Grants Help Boost The Economy

How Minority Grants Help Boost The Economy

How Minority Grants Help Boost The Economy

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Minority Grants

Related Minority Grants Articles

Minority Access of Federal Grants-in-aid: Gap Between Policy and Performance (Praeger special studies in U.S. economic, social, and political issues) Reviews

Minority Access of Federal Grants-in-aid: Gap Between Policy and Performance (Praeger special studies in U.S. economic, social, and political issues)

Minority Grants

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Minority Grants

Minority Grants

Minority Grants

 Free Money Is Available as Government Grants

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 and if there is a way whereas you to get any money through one of these grants. What are the requirements to retain a government subscribe further will the grants credit to be repaid are some other common questions about these budgetary grants. Here are some hot observation to acclimate you to grants, who is eligible and clashing useful facts.

What Are Government Grants?

While there are a troop of people who say that government grants are waiting since anyone and everyone to close unchain money, there is more to it than that. The federal government does not have an bring about pocketbook that everyone charge step up and take whatever they cupidity from valid. Grants fulfill quote money, but there are obligations and requirements that have to be met before any capital is paid out. Typically, a government grant is awarded to an deportment or group of people to assistance disguise a sustain like gravy renovations or repairs.

How Do Organizations Get Government Grants?

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Minority Grants

Government Grants for Women in Business

Government Grants for Women in Business

The numbers do not lie, more women then men start-up new businesses and successfully run existing small businesses every year. In fact they have a nearly 75% better chance of succeeding in their business ventures then men do. One of the best ways to ensure this success is to seek out and receive one of the many government grants for women in business.

Why are grants for women in business a good idea? To answer that question lets look at how most small business are started and financed. Most entrepreneurs will go to their local bank and take out a business line of credit, usually putting their home up as collateral. The second choice is to find someone or a group who is willing to invest in the idea with cash up-front.

For the woman who owns a small business this can create an inordinate amount of stress having this debt hanging over her head. And in the case of putting personal property up as collateral, if the business fails she stands a good chance of losing her home along with her failed business.

Small business grants for women are not subject to repayment. That’s right, once you have the grant you are not required to pay it back which can make starting and running a business much easier. This gives the woman business owner the opportunity to concentrate on growing her business without worrying about paying back any money she may have borrowed. It is important to use the money for what it was intended for otherwise there is a risk of being censured and even penalized to the point that you can be black listed from receiving government business grants.

Here are four quick tips to help find and receive grants for women owned businesses.

1. Use the Internet – The are a abundance of websites that will help you not only find government grants that meet your specific needs they also provide the necessary information you need to successfully apply for and receive this free money.

2. Research – Be sure to thoroughly research each grant and granting agency to find out what their requirements are. There literally grants available for just about everything, from starting a business to paying for college so it is important to target those that meet your goals.

3. Have a Business Plan – This can be one of the most important parts of applying for a business grant for women. This is your road map for success and any grant giving institution will want to see one.

4. Hire an Accountant or Attorney – Getting professional help from someone who is schooled in the world of applying for government grants can pay big dividends. It may cost up front but this cost can be worth thousands of dollars in successful grant requests.

Every year the government gives away millions of dollars in grants for women in business. What better way to start a new business or grow an existing business then with free money that leaves you free to concentrate on making money.

Minority Grants

To learn more about finding and applying for small business grants for women please click here.