Small business grants can help you begin your own business, or even expand an existing business. Grants are available from many different sources, including the federal government, if you meet specific criteria for the grant that you are interested in.
Do I Qualify?
In general, you need to have a business before you qualify for small business grants through the federal government, but there are some exceptions to this general rule. There are roughly four billion dollars in grants available for small business owners through the government that are given away each and every year in the US. Qualifying for these grants can be as simple as visiting the website and downloading a few forms.
Small business grants are also available based on your gender and background. Grants for women, for example, are available through both the federal government and a few independent agencies for small businesses. The most difficult aspect of obtaining a grant is finding the right grant for your business needs and ensuring you meet all the eligibility criteria for receiving the money.
Do I Need to Repay the Grant?
One of the best things about small business grants is that you never need to repay them. If you want to expand or begin a business a grant ensures you aren’t stuck making payments that could potentially cost you more than they are worth in the long-term life of your small business. Grants are available for many types of businesses, including those for women who own businesses and businesses in rural areas.
To begin finding small business grants, you should first determine the type of business you want to own, and the specifics of ownership, expansion plans, and the area you will be located in. Grants can be based on any of these criteria, or may simply be based on the type of plans you have for the future of your business.