Tag: business grants

Applying For Women or Minority-Owned Business Grants: What’s The Right Way To Do It?

There are certain government agencies and private institutions that offer grants to minority and women-owned businesses in order to help them sail through the difficult initial period of entrepreneurship. Grant-writing refers to the process of applying for a grant. Needless to mention, these grants can turn out to be of immense help for the first-time entrepreneurs, as it has been seen that some of the brightest aspiring minds are unable to initiate their commercial ventures owing to lack of capital. These business grants, however, act as wonderful financial options for first-time entrepreneurs. But grant-writing is a lengthy process and a difficult one, as well. So those of you all who are interested in availing this financial option, please make sure that you are learning the art of “grant-writing” thoroughly. It might seem a bit difficult initially, but with the right kind of practice, you can expect to reap the benefits.

Tips to Apply for Minority or Women Owned Business Grants

It is very important to study the nature of grants made available by private institutions or government agencies and determine whether the specific program complies with your business needs or not. Make sure that you’re listing the contact details of all the institutions providing the grants for which you’re eligible. Please be informed that if you’re both a woman and a member of the minority group, then you can avail a wider array of schemes.

Now determining your eligibility for the grant is a lengthy process as well. There are some grants that are specifically focused on start-ups while others are meant for established commercial ventures. There are certain grants that are offered only to specific types of businesses or else only to residents of a particular area. There is simply no point in browsing through websites of each and every organization, which offers grants – because you will not be able to qualify for all of them.

Once you have the contact details of all the agencies that you qualify for, start researching on the background of each of these organizations. Comb through the websites thoroughly and note down details like the types of projects that these institutions back financially, their purpose behind each of the grant awards, the names of grant winners etc. Sometimes the grants are awarded solely in order to bolster minority or female entrepreneurship.

Start working on the applications now. Firstly, note down the deadlines for submission of each of the applications. Make sure that you’re sending comprehensive application to the organization to help them decide quickly whether they would offer you the grant or not. Include documents such as the proposed budget, a little description of your business, federal tax identification number, present business model, business offerings, recommendations, and proof of profit, loss or no-profit. Fill out each of the forms and proofread them carefully before sending your application.

After sending the application, you generally have to wait for around three to four weeks in order to find out whether your application is accepted or not.

Author Bio:  Sean Lee is an experienced financial writer who frequently writes about various aspects of different insurance plans, tips to get fast cash loans, various financial grants available for  students and minority businesses etc.

Don’t Overlook Federal Funds When You Apply For A Business Grant

We’ve all seen the commercials that claim there are millions of dollars in free money just waiting to be taken in the form of grants. But that money isn’t just floating in the air waiting for someone to reach up and grab it. You need to know where to look and how to apply for a business grant to see any of this “free money.”

Grants are available from a multitude of sources. The most well-known grants are government grants. Many people mistakenly believe these grants are at anyone’s disposal. This is not true. The majority of government grants are given to programs and institutions who then award the money to businesses and organizations that apply for a business grant. So the money comes from the government, but not straight to your business.

How to find government grants

If you are unsure what kind of government grants would best suit your business, start writing. Create a list of your business’s needs, interests and the goals you want to achieve through your grant. This will help you streamline your ideas to fit a niche. The more concentrated project you can come up with when you apply for a business grant, the more likely you grant application will be accepted.

Once you have a list of your business’s interests, find state and federal agencies that share those interests. A lot of government grants focus on economical, environmental and technological issues. Business proposals that utilize these areas are seen as more viable options because they can benefit more people. Don’t embellish your proposal, however. If you do not intend to “go green” and be environmentally friendly with your project, don’t tout your business as being environmentally conscious. Lies or inaccuracies can void your grant and you can be forced to repay and funds you have received.

The most common form of government grants is a research and development grant. These grants are awarded for projects and ideas that improve or revolutionize commercialization. Research and development grant programs available for small businesses have federal guidelines that must be met during every step of the project. In most cases, these grants are awarded through the Small Business Innovation Research and the Small Business Technology Transfer programs. The SBIR and SBTT programs are comprised of three phases. The first phase awards funding for the exploration of the idea or project. During the second phase, businesses use additional awarded funding to expand results. And phase three implements the idea or project into the marketplace (funding is not provided in phase three).

Research and development grants encourage partnerships between organizations, businesses and institutions. Typically one side of the partnership is responsible for a larger percentage of the work and results achieved during the grant. However, it is not typically specified how much a partner should or can invest. So, while your business may be the primary partner, teaming up with a university or hospital willing to provide funding can be extremely beneficial. When you apply for a business grant, the awarding panel will want to know your business’s plan for funding during and after the the grant’s duration. Expecting a single grant to fully fund your business venture is not a sustainable reality.

So, the commercials are partly true – there is a wealth of funding available in government grants if you know how and where to find it.

This article is written by Jon Emge who is a Senior Debt Advisor writing for a range of financial sites including www.debtadvice.net and www.debtconsolidationloans.org.uk

Business grants- How to apply

The investment sum, output capacity and the company’s remuneration decide the size of a business venture. An entrepreneur may or may not have enough resources to start his own business venture or develop an existing one. In such a scenario, the options available are to either acquire a bank loan or to apply for a government grant. While a bank loan has to be returned with high rates of interest, business grants are not required to be returned to the government.

A business grant is basically a sum of money received by a person to set out a new business venture or to facilitate the smooth running of an already existing one. To figure out how to apply for a business grant can be rather an irritating job and also a confusing one. There are no promotions whatsoever from the US government regarding the sort of grant or the amount of the grant offered. While any lawful US citzen is eligible for this grant, there are particular qualifications to be fulfilled before applying for business grants. Grants are given for the companies to commence, for elaboration of an existing business venture and also to bail out companies which are financially sick.

While it is the fact that business grants are open to the public, the screening procedure is rather strict and not all may be lucky to get the grants. It is essential to know your exact business demands as this is very important while applying for a government grant. Next, you need to find out the categories for which business grants are granted and determine if your business falls under any of those. It is also beneficial to register your company as it further stresses the fact that the grant is in assistance of your business needs.

You must be aware of the application schedule. Business grants are available at particular times during the year. Most of the applications are available online. The online process is easier and trouble free. There are no long processes involved. The step by step guide enables you to clear up your questions and finish the process smoothly. A Funding Opportunity number given will be useful while registering on the Central Contractor Registry.

The most serious part is to write your business proposal. The proposal should be kept simple and must cover all the queries that may be presented by the grant commission. The project undertaken must be concisely described in the proposal and should be a realistic one. Details about the intention, goals and finances must be distinctly stated in the proposal. You can seek help from the local branch of SBA or SBDA in drafting the business proposal.

To acquire business grants, it is necessary to render all the necessary papers. If your documentation is incomplete, then, even a great project proposal will be rejected.

Are you looking for financial assistance to help you start a business? The government has set aside business grants to help people like you. Apply for business grants today and have a head start among your competitors.

How to utilizeGovernment grants

Many projects have crashed with the fall in the economy and because of the global economic meltdown. Many people have lost their jobs and have become unemployed and are having concerns about job security. The government is trying directly or indirectly to provide some funds so that the economy can improve and to boost the improvements in several sectors. These government grants need not have to be repaid back and it is the greatest boon in such conditions.

Grants are funds that are set aside by the government to raise the conditions in the society. Do not get confused that government grants are loans that are given to people or they are offered as direct money. These government grants are only available as facilities and benefits and not in the form of direct money. The individual who is applying for a grant will not get money but will get benefits and facilities in the domains requested. The reason why the government offers such grants is so that the citizens can lead a decent life . Grants are offered to only those people who cannot afford and who have low incomes. Small business grants, student grants, single mothers grants, nursing grants etc are some of the different grants the government offers.

If you have loan that have to be cleared and you are unable to repay, these government grants are a great way to get rid of them since the government will bear it. You have to have a strong convincing reason to apply for a grant. Some documents like tax papers, social security number, financial status, family status and income certificate have to be shown.

Before you apply for a government grant, do a research about the category of grant you are applying. Check if it fits what you want and if you are entitled for it. Next you have to write a very good grant proposal which has particulars like the reason for applying for such a grant etc. A grant proposal is the most critical part of the entire process. If it is not impressive then definitely your grant proposal not be approved.

If you are not very great in writing, there are many grant proposal writers who will help you write a good proposal. The grants.gov website has all the necessary information and it is understandable by anybody. So if you have an doubts you can always look into it. Next step is to fill the application form.

All the details have to be furnished and they have to be authentic. If you try to fake anything, you are sure not to get any grants approved in future. These Grants are very easy to avail provided you are worthy and have a desperate need for it. The government grants are funds that the government has kept aside for the overall betterment of the national economy.

Are you a women seeking financial help? The Government has set aside Women Grants to help women like you. Government Grants for Women are only available to women as the minimum requirement.

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