Small Business Loans and/or Grants for Minorities?

Question

I am a Filipino (hopefully looking for answers from any other filipino experianced in this matter) looking to either obtain a small business loan, state, government, or privatized funded grant, or other acquirable capital to buy into a small business that is essentially a franchise.

Not like a restaurant but a service company requiring $50,000 capital for the equipment purchase. I would also need an additional $25-50,000 for overhead (building lease, advertising, uniforms, etc.).

I live in Texas if that is relevent. I do not have any of my own capital and or collateral. I rent my home and only have a vehicle paid off. I have dark brown curly hair, enjoy strolls on the beach and like to karoake......whoa, ok, now I'm going off on a tangent.

Anyways, any information would be greatly appreciated. And as I do on other questions, smart alecky remarks will be welcome as well....

~jaz~

Answer 1

There are essentially only 4 sources for grants. A little known fact it that you do NOT have to be a non-profit to get a grant, regardless of what others tell you ... I've helped for-profits apply 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:
http://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.

There are some governemnt grants for minority businesses. You can find info at:
http://www.mbda.gov

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

Answer 2

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Answer 3

Small Business Administration (SBA)
Tips on starting, expanding, and financing your business from the U.S. Government.
http://www.www.sba.gov

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