Government Loan Grants

1. Pobept K Said,

   a grant is not likely.
   try borrowing from family and friends.
   If you have bad credit and no collateral a loan is not likely either.

2. John Loves Jenn Said,

   go to sba.gov you can find more info there

   Beware of Advance fee Loan scams.
   LOAN SCAM – Do Not Pay UpFront Fees.
   Do not send money UpFront via Western Union or MoneyGram to any person
   or business in the UK, Nigeria or Canada in hopes of getting a loan.

3. imisidro Said,

   With bad credit, it is extremely hard to find business loans other than peer-to-peer lending sites such as Prosper.com

   It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for starting a for-profit business.

   One possible exception is for companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs , which fund the research and development of technological innovation that meets specific government needs.

   Your best bet actually will be from the states if they offer grant programs for women (or any other special interest groups — minorities, women, disabled, veterans, etc). Or check with non profit organizations, particularly women organizations if they offer grants. Examples include

   Iowa Women’s Foundation
   New Mexico Women’s Foundation

   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.”

   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.

   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

   I suggest you read the following books to get ideas of how to finance your business:

   Financing Your Small Business
   Small Business Financing: How and Where To Get It
   Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing
   The SBA Loan Book
   Angel Capital : How to Raise Early-Stage Private Equity Financing
   Financing Your Small Business (Barron’s Business Library Series)

   For private grants, you may want to check the Foundation Center’s Foundation Grants for Individuals Online . It’s a subscription based website ($9.95 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.

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