Small Business Grants – Are You Eligible?

Government small business grants are a hot topic of discussion among small businessmen with limited access to funds and capital. The federal government does not provide grants for developing or expanding a small business; but the state governments does.

Small business grants are handed out to entrepreneurs by their home state governments. It is not very difficult to get business government grants, though it is time-consuming. The federal government on the other hand, does provide some low-interest loans to encourage and assist upcoming entrepreneurs. The criteria to get a small business grants usually depends on location, race, sex, sales revenue, total number of years in business and the purpose for which it has to be funded. The requirements for grant eligibility are specific and one must be prepared thoroughly for it with a clear-cut plan.

The initial steps involved in seeking business government grant are:

1. You have to spend a good amount of time and resources to search for small business grants program in your state. Thanks to computer and internet it has become less tedious now.
2. After you have searched a grant program matching your business plan, hire a consultant to apply for the plan. The consultant will make your grant application a presentable one before the state authority. Alternately you can spend some time learning the grant application process and apply. Remember you have overcome bureaucratic bottlenecks.
3. Define for yourself the time limit-do you want it now or wait for a year.

To find small business grants, one can look into the Catalog of Federal Domestic Assistance (CDFA). This CDFA lists thousands of grants from all government agencies. Many of these business grants are targeted at rural business improvement, minority business development or export-oriented businesses. After finding a Small Business Grants suiting your business needs be prepared to undergo lengthy and time consuming process of approval. You must be ready or tough competition as the grants’ funds are limited.

There are some tips to receive a grant.

1. Complete and accurate information of your business outfit is necessary. If your application contains incomplete details or inaccurate information, it may not make through the review process or may end in an ordinate delay.

2. It will be advisable to interact with your grant officer and come to know their concerns, budget limits, and constraints with your grant.

3. A well prepared business plan and demonstrating your strong business acumen will make your approach a discernible one. A smarter strategy would be to show the benefits it will make to US government agencies.

4. Bringing in an outside expert or consultant would add credibility to your application. Also it would create an impression of professionalism.

5. Keep tracking your application process. It will be helpful to be in contact with a concerned grants officer in a non-intrusive manner to tilt the balance in your favor.

Small Business Grants Applications

The application for the grant can be applied by a person either as an individual or as a part of an organization. The applicant can also apply for more than one grant at one time. Some of the tips are given below that will help the applicant who wish to apply for the business grant.

Firstly, the applicant should decide on the type of grant that is required. Some of the applicants will not get the grants they have applied. This is mainly because they do not know their exact requirement. Under these circumstances, they can contact their business administration locally or the business development center. Thus it is necessary to ensure that he meet all the requirement of the grant before the application for the same is submitted. Some of the grants are generally offered only for the individuals and some are only for the organizations.

When the process to apply for the business grant is commenced, the applicant should first make his business plan ready as many of the grant applications insist for the business plan. The business plan should contain the details of the business and also the goal. The details regarding the finance should be precise, clear and should be simple to understand. The business plan can be tailored to the grant by just making references to mission statement of the grant organization.

The most difficult part in preparing the grant application is grant proposal writing. The applicant can take a seminar locally or can choose the community college or even go in for the online course in the grant writing. Alternatively, the applicant can also locate for a mentor like professor, curator or a teacher with good experience in grant writing who will be of much use in the preparation of grant application.

When the proposal for the application is written, the applicant should bear in mind the questions that may arise by the committee while going through the application. As far as possible, the answers for these expected questions to be answered in the grant proposal. Complete attention need to be given in meeting the requirements of the grant committee by answering all the questions as a part of the grant application.

The proposal for the grant should be short and clear. Whatever questions that may be raised by the grant committee should be answered properly in the proposal. The proposal for the grant should be realistic or otherwise it may be rejected.

The title page and an abstract should be included in the proposal. The introduction and a review for the proposal should be available in the grant proposal. The project for which the grant is required should be described properly and the requirement of the staff for the project should be indicated.

Small Business Grant Source:

Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants.

Small Business Grants For Women

When a person wants to expand his existing business or wants to start a new business, he will definitely be in need of funds. This requirement of fund can be done with the applications for small business grants. The sources available are plenty that offers grants for the purpose of promotion of business. The sources that contribute mainly to the requirement of the business funding are the agencies owned by the government, foundations and other firms with the venture capital. The funds are provided by these firms for the business people to take off their business to good height. Thus, if a person is interested in setting up a small business or interested to expand his existing business, he has to just apply for the concerned grant program and follow the procedures for the same correctly.

It is always better to make some research on the quality before proceeding on the process of application for the small business grant. The ways available are plenty for getting the information regarding the programs on the business grant. The person requiring the grant can either contact the small business development centre that is available locally or he can visit the page of the grants of the United States small business administration. He can also just visit the grants site of the United State Government. The grants programs are available for the various kinds of businesses. Hence, the person in need of grant should look for the correct grant that is required for his business. Once the decision is taken for the grant program, then he should be ready to undergo the length process for approval. The representation should be made in a proper manner that will assist in getting the grant without much difficulty.

He should ensure to give the correct and genuine details in the applications for the grant. When the application is submitted with incomplete details or wrong details, it will ruin his chances of getting the grant money. He can also try to get the information about the officer sanctioning the grant and by maintaining a good relationship; he should be in a position to get the details regarding the budget, constraints and other details pertaining to the sanction of the grant. It will be an added advantage if the correct business plan is provided. It will always to be better to maintain contact with the concerned officer in a non-intrusive way and also in a professional manner.

Thus giving the correct details required on the grant application will lead to good chance of getting the grant money quickly without any difficulty.

Small Business Grant Source:

Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants. You can find the most comprehensive information on availing of small business grants by visiting this online guide – http://smallbusinessgrant.info.