Does anyone know of grants that are available to new business entrepreneurs?

Answer 1

There is no such thing. For information on what government grants really are, visit http://www.grants.gov/ ...

Answer 2

Grants are few and far between.

The best option is to ask friends or relatives.... they will probably think you're nuts but will occasionally latch on.

The next option is to use your credit line on a credit card if you can, or take a home equity loan The interest is pretty high but it will keep you motivated. I actually started my first business with a total of $35.14 and in 4 years I turned revenues of just over $1.1million... I also worked for free for 2 years-- 18 hours a day, 7 days a week. I sold the business after 14 years for $7million.

Another possibility is to either talk with YOUR bank or to a small regional bank with just a few branches. Their job is to lend money and small banks don't always have a good place to put their depositors money and make good money themselves. Small banks might also have a line on "portfolio loans". These are loans brokered by your bank, but you get the money directly from an individual investor.

Lastly, and I mean LASTLY, check with a bank about an SBA Guaranty Loan. What heppens here is that the bank lends you the money and the U.S. Government guarantees that if you default that they will pay the bank. Unfortunately, in the event of failure, the Government will also expect you to pay the difference between the value of your assets (business and PERSONAL) and the value of the loan. Again, I do not recommend a big bank...try the small ones first, hopefully you can locate a preferred lender if you go that way.

Good luck!

Answer 3

It depends on the field of business and what country you're in. For example, if you were in Canada, and you wanted to start up a biotech company, there's a venture capital firm called Genesys in Toronto that specializes in that. If you just want government grants, there are a huge number of grants in the US as well as in the EU for a variety of mainstream and obscure business ideas.

Answer 4

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. Read the SBA Financing page to learn about criteria needed for borrowing

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 5

Go to http://www.grants.gov/ to see what grants are available, if any, and how you can apply for them