Business Start-up grants

          I bet you’ve heard you can get a scholarship for just about anything. Schools pay out money for almost any ethnicity, creed, and interest. But what about those who aren’t going to school? Or those who just got out and want to start a business? Now you can get grants from the government to start a small-business. They want you to succeed because small businesses are what keep America thriving and healthy.

          Of course the Federal Government are not handing out these grants just yet. You have to look to the State government for these offers. Despite popular belief, it is unusual for grants to just be given to individuals for certain things. But it is much likelier that the state and local government will give monies to finance your small business.

         For instance, the ‘green movement’ is a big deal right now. There are money going to those creating energy efficient technology. Whatever that area might heavily focus on (tourism, farming, silicon) there is probably a grant for those working in those fields. An SBIC is a Small Business Investment Company and they have given out close to $30 Billion to start-up companies since the late 1950’s. This is the best kept secret in the business world! If you can get hooked up with one of these SBIC’s (450 nationwide!) you have a much better chance of getting venture capital. All sorts of large companies got their start with the help of SBIC’s like FedEx, Apple, and Outback Steakhouse. Also, it is commonly thought that grants are just free money. You have to remember that this money is for a purpose, so it must be given away wisely.

         Often, recipients will have to have an equal amount of funds available or the grant comes in addition to a loan. Which brings me to my last point: If you can’t find a grant, you can certainly find a loan! The SBA offers loans of up to $2,000,000 to get a start-up company off the ground. The CDC can offer a long-term, fixed-rate for all kinds of large purchases like machinery or computer servers or even land. It is important to know that it is still okay to start a small-business. Everyone gets worried about all the chatter about the dipping economy. But people will still recognize a good idea, and the only way to escape a recession is to spend, and distribute money.

          There are a few things you should take away from this. There is help out there for entrepreneurs. You have to be careful with grants because they are not always just a hand-out. Venture capital from SBIC’s are great sources of start-up cash because they often come with much fewer strings. Last, getting a loan is not a terrible or disastrous endeavor. The SBA, CDC, and other organizations will give specific loans for anything from gear to disaster relief. And of course, good luck in your venture, a good idea never goes unnoticed!