If i get a business grant wil they let me use it for my own business?

Question

IM going to get my business using ebay and the business gant money i get im going to take that to china and buy a lot of stuff wholesale.And then sell it on ebay.Will they let me do that if i tell them thats what im goin to do with my money.

Answer 1

You don't know how CUMBERSOME the reporting paperwork and support documentation of grants, that just fulfilling the requirements will eat up a lot of your time. In fact, some businesses have to get a staffer just to fulfill the documentation and paperwork requirements of the grants that they get. Unless you have some magical powers, it is going to be tricky to fool the grant giving organization by pretending you are using the money for one thing, but in truth using it for an ebay business. You need to produce receipts, invoices, success measures, etc. etc.

Definitely there are NO grants for starting a business on eBay importing from China.

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 starting a for-profit business.

One possible exception is for companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs http://www.sba.gov/aboutsba/sbaprograms/sbir/index.html , which fund the research and development of technological innovation that meets specific government needs.

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.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."

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

DON'T BELIEVE THE HYPE YOU SEE ON LATE NIGHT TV OR WEBSITES TELLING YOU THERE ARE GRANTS FOR STARTING A BUSINESS -- they are just out to scam you

Answer 2

OK, lets break this down a little bit. First I agree with Judy, you have to find the grant first and its not as easy as they make it out to be online. Now lets say you get a business grant that you don't have to repay, you can do whatever you want with it. Now when you get the money chances of you going to China and buying wholesale products is unlikely. You have to know where to go and who will sell to you.

Answer 3

First you have to find that grant. And if you are expecting to get it through some Internet grant site that says they can get you one, isn't likely to happen.