Are there any websites that are free to search for a small business grant?

Question

I have been on the computer researching information on starting a small business from a formal business plan to grants and loans. The business I plan to start is retail. The location is going to be in a rural area appealing to the younger generation of men, women, and children. Some other items I plan on selling are acessories such as costume jelwery, handbags, and sunglasses. Basically I am trying to teach myself the fundementals of owning and running a small business. I don't plan to have the business up and running until the Spring of 2008 to give me time to get everything together. Every website I have visited from googling 'small business grants" wants me to pay for a book or cd to be informed on goverment and federal grants. If there is anyone out there who is willing to help me how can I get information for free to apply for a small business grant or any other grant in the catergory of minority, woman, or start up business. Please I need help.

Answer 1

A loan is a debt incurred over a fixed period of time and needs to be repaid with interest. A loan to a company or organization appears on their balance sheet as a liability. Loans can be made from family and friends; from financial institutions (Banks & Credit Unions) and from investors (Angels and Venture Capitalists). Regardless of the source of the funds, the loan should be treated the same way and interested should be charged and paid by the respective parties.

A grant is a gift from either a government or private organization and is given for a specific purpose for the “public benefit”. To a company or organization, a grant appears on their balance sheet as an asset and does not need to be repaid. Applicants need to prove that they can fulfill the specific purposes of the grant.

Unlike what is typically broadcast on late night television or published in some of the newspapers and magazines, there are no government grants for private companies unless they are involved in very technical research in the military or health arenas or they do business in certain designated geographical areas and contribute to the economic and job growth of the residents of that area.

Since you won't be opening until Spring 2008 I would strongly recommend that you talk to a business counselor before you do anything especially spend money. Since you know where you intend to establish the business, I'd call the local office of SCORE (go to http://www.score.org and input your zip code to find the chapter nearest you), the advice is FREE.

The counselor at SCORE will most likely advise you to write a business plan which is very good advice because it will force you to dig out all of the start up details and the costs of starting a retail business and force you to also understand all of the aspects of this business including the customers you'll concentrate on (your market ) and how you'll go after them.

Talk to your counselor at SCORE about the possibility of a grant only because since you'll be setting up in a rural area you might qualify for something that the SBA might be sponsoring (I won't hold my breath)

Try this link :
http://www.ychange.com/small-business-co...
and read some of the articles especially the ones about a business plan and starting a business.

If you have questions join their Bulletin Board and ask questions, they'll respond pretty quickly and the advice is free also.

Good Luck

Answer 2

Grants are almost impossible to find to start a business, especially without any business experience or education. A business plan will be a must. Software is available rather cheap for this (consider Business Plan Pro), also it is offered at the SBA site.
You may qualify for a Small Business Administration Loan, their link is provided in reference below. They also, provide numerous tools for developing a business plan.
You state you are are trying to learn the fundamentals of starting and operating a small business, consider purchasing and reading in detail a few good books on starting a new business. Amazon.com has some rather inexpensive books on the topic (less than $20.00 each).
You may consider working at a retail store for awhile, to understand the market, pricing, and expenses involved in the business. Also, it will give you a chance at understanding the time commitment, if you are the owner realize your day is not over just because the business is closed--you have inventory to buy, bills to pay, deposits to make, accounting to perform, and maybe a payroll to do, and etc.

Answer 3

There are essentially only 3 sources for grants.

Federal grants are called Small Business Innovation Research grants. These are given primarily for some new innovation. You can find out what's available at www.sbirworld.com. There is also info on this site about how to apply.

Some cities offer grants to small businesses if they will locate in the downtown area, for the purposes of building up downtown traffic. Check with City Hall.

Finally, private foundations offer grants. You can get a list of most US Foundations and private grant sources at www.foundations.org/grantmakers.html.

Answer 4

You can talk to any credit union they are open to the public or you can look up a Financial Advisor in your town. You did the right thing and not falling for those so called "free government grants". those things are a headache (i did research on some of them for my own knowledge)

Answer 5

Grants are now only given to non profit entities. What you can do is apply with SBA for a low interst loan.