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| *Loan,banking and credit>>>business credit |
I want to start a business? Where can I get grant or loan money without credit being so important? |
The business I want to start is a banquet hall...where you hold events. I only need tables, chairs, and a building.(could only rent for now) Your best bet is to look for sources of fund other than grants or SBA (they want good credit) Your Credit Card Using Credit Cards to Finance Your Startup http://www.entrepreneur.com/article/0,46... Credit Where Credit Is Due: Using Plastic to Finance Your Start-Up http://www.inc.com/articles/1999/08/1662... Your Family Members and Friends Accepting Start-Up Capital from a Family Member: Good or Bad? http://www.powerhomebiz.com/blog/2006/08... Borrowing Startup Funds From Friends & Family http://www.entrepreneur.com/your_busines... Microloan program which provides loans up to $35,000 (I think they also look at your credit history) SBA Microloan Program http://www.sba.gov/financing/sbaloan/mic... SBA Accredited Microloan Providers http://www.powerhomebiz.com/vol145/micro... 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 a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born. 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. Even if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business. Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.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." 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/catalo... Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs For private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online. It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don't have listings of private foundations who give grants to would-be entrepreneurs. Source(s): http://www.cfda.gov http://www.grants.gov http://gtionline.fdncenter.org http://www.powerhomebiz.com/vol66/grants... http://www.sba.gov/expanding/grants.html... I would start at a library and see if they have any ideas for you. and p.s. I was given a tip once --anyone you encounter say what you're trying to do and ask, "Do you have any advice?" Seldom will you every find grant money to start a business. The best way is to get a SBA loan. www.sba.gov If you are female or a minority the odds of getting a loan are much better because they are looking for these groups to loan money to. Very racists and sexist to me. |
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