I want to start a small Business, where do I get the Loan or Grant?

Answer 1

You stand a greater chance of getting other sources of funds to start a business than grants. For information on small business loans, go to SBA http://www.sba.gov/financing

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 a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born.

Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.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 http://www.sba.gov/expanding/grants.html...

"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 http://www.sba.gov/financing 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.
http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show

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

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.

http://www.cfda.gov
http://www.grants.gov
http://gtionline.fdncenter.org
http://www.powerhomebiz.com/vol66/grants.htm
http://www.sba.gov/expanding/grants.html

Answer 2

The business of lending is a dense one and should be researched properly. To get started, I suggest contacting the Small Business Administration (SBA). Entrepreneur also offers a great site dedicated to money & finance – see below for both.

Research, research, research – this cannot be stressed enough. Read as much as you can about the process. Here are some book titles that are relevant:

* How to Get a Small Business Loan: A Banker Shows You Exactly What to Do to Get a Loan (Small Business Series, No 1) by Bryan E. Milling
* The SBA Loan Book: Get A Small Business Loan--even With Poor Credit, Weak Collateral, And No Experience by Charles H. Green
* The Insider's Guide to Small Business Loans by Dan M. Koehler

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 3

Small Business Association's website SBA.org. If you are some kind of a minority, disabled or have something wrong with you, the government has low interest loans. If you wish to go right to a bank, have a 'business plan' (look it up online for how to write 1...they are very easy...1 page) and proof that you are matching the loan with 20-30% of your own funds (ie. $80,000 loan... the bank wants to see that you are using 20K of you own money for the business as "good faith")

Answer 4

Get in touch with the Small Business Administration. They may use the tactic of discouraging you to find out how truly interested you are and if you have the backbone to run a small business. After all, small businesses go out out of business by the thousands every single day by those lazy few who think it's easy work and requres no business background or hard work.

Answer 5

You can either try to drum up investing from people you know, local investors, banks or even look for grants. You need to put together a solid business plan first. Here are some articles that might help you out.

Financing a small business:
http://www.home-business-expo.com/8102006_SmallBusinessFinancing.asp

Steps to write a business plan:
http://www.home-business-expo.com/8142006_BusinessPlans.asp

Grants & Loans for women:
http://www.home-business-expo.com/wiki/WomenSBAFunding.asp

Hope this helps and best of luck

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Answer 7

Check your local government, they almost always have money for start ups.

Answer 8

how small