SBA Minority Grant to start a small business....?

Question

I am interested in knowing if anyone has received the SBA Minority Grant to start a small business??? if so how long did it take for u to receive funding? thanks.

Answer 1

SBA doesn't give out grants. The best thing to do is make your business plan look and sound GREAT! A business plan is for loan officers or people willing to invest in your idea to find out the way they will get their money back once they were to invest in you and your business.

I wrote one for my uncle for a restaurant, which he'll be getting a $120,000 loan for starters. It will definitely be an advantage to get yours done. Contact www.writecompanyonline.com for your business plan and freelance business writing needs.

Answer 2

No such thing from the SBA

SBA does NOT give out grants -- whether you are female, minority or whatever. Minorities get special loan packages as well as well as certification programs that will allow minority owned businesses to better compete in the govt procurement process

From the SBA website (this question is included in SBA's Most Requested Questions because a lot of people ask if they give grants) http://www.sba.gov/mostrequesteditems/CON_FAQ2.html

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"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."
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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.

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