Government Loan Grants

1. faisal f Said,

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2. imisidro Said,

   A lot of people dream of owning their own clothing store. My recommendation is always to start by researching on the business and learning everything about it — before starting. Clothing stores, especially, require lots of capital to start so you cannot afford to make a lot of mistakes

   Here are some articles that provide information on how to start a clothing store:

   How to Start a Clothing Store
   Starting a Specialized Clothing Retailing Business
   Starting a Retail Clothing Store

   One of the first steps is to prepare a business plan. Especially if you are planning on applying for loans, the process of business planning can help you think through your business. It can help you decide on the type of store, determine the costs involved, how to get suppliers to sell to you, how to market the store, expected profitability, etc.

   Here are sample business plans for a clothing store that you can check out:

   Retail Clothing
   Men’s Clothing Retailer
   Special Needs Clothing Store

   For detailed information, I suggest you check out the following books:

   Start Your Own Clothing Store (Entrepreneur Magazine’s Start Up) (Paperback) by Entrepreneur Press
   Retail Business Kit for Dummies by Rick Segel
   Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder

   You may also want to check out the resources of the following associations:

   Professional Apparel Association
   American Apparel Producer’s Network
   Worldwide Responsible Apparel Manufacture
   American Apparel and Footwear Association
   National Association of Fashion and Accessory Designers
   Fashion Group International
   Apparel News

   As for grants, unfortunately, if you are in the US, the government hardly gives any grants for starting a for-profit business. 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) and 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

   “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 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.

   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

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