How do foreigners that are new to the USA get money to open a business?

Question

WHAT ARE THE STEPS THEY TAKE TO APPLY ?? ARE THERE SPECIAL GRANTS IN PLACE FOR THIS ?? WHAT ARE THEY CALLED ??
I'M NOT A FOREIGNER, I'M JUST CURIOUS, BECAUSE THEY OWN SO MANY BUSINESSES HERE IN THE USA

Starfire, me too, I asked an African lady, and a Jamaican man this question, and they told me they used 'credit cards' to open their businesses, but I'm sure all foreigners dont use this method.

Babu Chicorico, I never said Americans can't be business owners. I actually do have a skip tracing business, but I also had to establish a good credit history first, on the other hand many foreigners come with no credit history, money, or anything else, and open businesses

Answer 1

Our economy has flourished because this LEGAL immigrants
have worked very hard to make our society richer and diversified.

Yak rider hit it right on the head, many families get together and
pool their money to be able to maintain themselves rather than
asking for government assistance....,.sure they may get some
tax breaks, well deserve I think, but they put in long hours and
every member of the family works. They live in cramped quarters
so that they can survive on their own.....We should be proud to have foreigner of this caliber come to the States.

Now, DICK Cheney really has an underlying problem with the
Jews.....so I detect a little jealously, or a little anti-semitism
....What ever happen to the motto:" LIVE AND LET
LIVE" and as long as it does not come out of the tax payers
dollars why not give people the credit they deserve...however,
the questions wasn't directed about Jews...control your anger..

Now I'm sure there is an incentive with a small recompense
but this is not only for foreigners, the small business Loan, surely for all
US citizens that are not lazy and are not afraid to take a chance.
Now do criticize me if you wish, DICK.......please

Answer 2

America is made for immigrants we are a nation of immigrants and encourage anyone with the start up capital to do business here. Banks also look favorable to Immigrant in terms of loans because they have a better rep. for working hard then a native do as screwed up as it sounds. A immigrant opens a business and works I say twice as hard as the normal American who tend to coast through work without going above and beyond. I personal don't get upset at that but at the fact other nations are no where near as nice to their foreigners and to do business in a lot of Countries you either got to marry a local or be rich because they tax you for being a foreign Company.

Answer 3

Many Asians, especially Koreans and Chinese, form a type of investment club. Up to two dozen families (usually smaller... 10 to 12) will gather once a month, usually for a meal. At the first meeting they will determine an order from first to last. At each meeting each family will kick in an agreed amount of money from a thousand to several thousand dollars. The money all goes to a family in the chosen order. After the last family gets their money they reverse the order so they are first at the next meeting.

So, if there are 12 families, and the agreed amount is $2,000, at each meeting one family will get to take home $24,000. After a year they reverse the order and the last family takes home another $24,000 at the 13th meeting. After two years each family has $48,000 tax free dollars to invest in a business.

What keeps a family from getting their money and never showing up again? Good question. It's their honor. Also, most of these gatherings are of people who come from the same town, city or geographical area back in Korea and China. They could never show their faces again if they ripped the other families off. They'd shame their relatives. The whole family works like dogs to make sure they've got the money for each meeting.


By the way, I'm sick of idiots who post that they pay no taxes for 5 years. That's pure BS. They pay taxes just like anybody else.

Answer 4

Well, they either arrive with funds pooled from family members or they work like dogs and save all their money. Then when they buy a business, the whole family works at it and they do without the fancy cars, big houses and other goodies until the business is running well. It is called sacrific.....

That's how any business becomes successful - hard work, long hours and willingness to sacrific.....

Answer 5

If you actually believe you can't open a business soley because you're an American, please do not try to be an entrepreneur; it will probably fail.

There are business loans, programs, grants and all kinds of other services available. Just do some research.

**Sorry 2teens2todd -- I was referring more to Starfire, who you agreed with in a followup. Good luck with your business.

Answer 6

There is an interesting concept called "work."

It involves doing things for companies or society or the government at large, and getting paid for doing such things.

Once you can save money from working, you can ask for a loan on that money and start your own business.

I suggest you check this article out:

http://en.wikipedia.org/wiki/Labour_%28economics%29

Answer 7

Earn it?

Actually, yes, I think there is a loan program and special tax breaks. I don't know much about it, though.

Answer 8

Low interest loans, and a lot of them come over with a great deal of money!

Answer 9

I've been dying to know the answer to this for YEARS!!!!

Do you think I could get a business opened up since I'M an AMERICAN??? NOOOOOO!!!!!!

Totally unfair....totally.

Answer 10

there are grants for anyone. www.sba.gov go to www.usa.gov see small biz grants loans. etc they are just smarted in b iz than we are. they save money more than we do too.