06/18/11

Federal Grants for Small Businesses

Frankly, the US Government does not offer very many federal grants for small businesses. That said, there are still quite a lot of funding options for small business owners from state development agencies and from institutions from the private sector. If you are an entrepreneur looking for funds to start your business or an established owner who requires financial assistance to expand your venture or improve your products and services, fret not.

The Small Business Administration

Your best option is to get a backing from the Small Business Administration (SBA). This particular government agency offers loan programs at low interest rates and very easy payment schemes. But it is important to understand that SBA does not provide the funds but rather gives the lending party such as banks and lending companies up to 85% guarantee in the event that you default.

SBA offers an array of loan programs that are specifically designed to fit any business owner profile. Here are some of the loan initiatives that are currently being paraded by SBA:

The SBA also offers federal grants but on a special basis and for a specific purpose. Among of the grants offered by the SBA are the Small Business Innovation Research (SBIR) Program & Small Business Technology Transfer (STTR). These programs are designed to bolster the competitiveness of small businesses by encouraging small business firms to participate in scientific research. Incentives are given to qualified small businesses.

Federal loans are also offered by state governments and departments and there are some that specifically targets small business owners. You can check with your SBA officer about the loans that would perfectly fit your funding needs.

It takes a little cash to change the world.

So what are you waiting for?

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Comments

  1. I have been dealing with alot of business and personal credit card debt in the past.I am only open to grant monies to extend my home based business to beyond and believe me, there is alot of great opportunities for others here.My work has to do with food and farming education,even three new kind of farms proposed based on my agricultural engineering and research.I am greatly disappointed that folks like myself can not get grants despite years of attempts.What does it take?!

  2. Patriot Express Program , I would like more information on this program, any direction at all would be of great help.
    Patrick A. Cocherl

    • To learn more about the Patriot Express loan, I’d check out this link on the SBA site. To see if you quality, the best way to start is to login to Lendio, complete a profile, and see your matches.

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