Business grants or government financing?

Question

I am interested in opening a fitness center and want to now how to recieve a grant or financing through the government. Please help me i'm clueless about financing.

Answer 1

You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration http://www.sba.gov/financing than a government grant

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

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

Financing Your Small Business http://www.amazon.com/exec/obidos/ASIN/1572484500/powerhomebizguid
Small Business Financing: How and Where To Get It http://www.amazon.com/exec/obidos/ASIN/0808007386/powerhomebizguid
Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing http://www.amazon.com/exec/obidos/ASIN/1580626815/powerhomebizguid
The SBA Loan Book http://www.amazon.com/exec/obidos/ASIN/158062202X/powerhomebizguid
Angel Capital : How to Raise Early-Stage Private Equity Financing http://www.amazon.com/exec/obidos/ASIN/0471690635/powerhomebizguid
Financing Your Small Business (Barron's Business Library Series) http://www.amazon.com/exec/obidos/ASIN/0764124897/powerhomebizguid

Answer 2

the small business administration website is http://www.sba.gov you can look there under starting a business, and see the information on loans.

Government grants are not for starting a commercial business - for the most part they are only open to nonprofit organizations that address specific needs.

Still if you want to check, the government website for searching the grants database is http://www.grants.gov

Answer 3

The executive hardly ever - simply under no circumstances - presents offers to new, for-profiit, small trade begin-ups. When executive offers are to be had, they are (a) in aid of a few governmental target, e.g. bettering literacy in K-12 scholars in which English is a moment language or disposing of damaging matters like lead paint chips from low revenue housing, and (b) issued to enormous, centered associations like faculties, hospitals and non-gains like Goodwill. So if your enterprise is repairing Harleys or promoting video video games, you are toast. If you are a contractor or in every other career that realistically would aid meet a central authority target, then you have got a pair probabilities. The trick is to spot the enormous tuition(s) on your subject which are receiving supply cash for a few assignment in which your online business would possibly be useful as a sub-contractor. They get the supply, however you receives a commission through them with the supply cash. A extra competitive system is to touch such an tuition and invite them to co-write a supply with you. Bottom line: ZERO supply greenbacks to aid you begin a trade, POTENTIALLY a few "moment-hand" supply greenbacks if you'll aid a supply recipient satisfy its ambitions.

Answer 4

Govt doesn't do grant financing, but they do do small business loans,. Go to a bank and ask about SBA loans.