Government Funding For Small Business
Getting government funding for small business is not easy to find, first of all, you are dealing with the government. Second, there aren’t really available government funding for SB unless, of course, if your small business qualifies for a certain category that the government do assist, like that concerning energy, transportation, housing, & education. Otherwise, there are no available grants of which you can avail from the government.
Despite the popular belief, there are actually no grants offered by the Small Business Administration (SBA) for starting or expanding a small business but there are, however, loan programs.
There are however ways in which you can still get grants, aside from the exceptions listed above, the federal government do allot a certain amount of money that assist nonprofit organization, intermediary lending institutions, and state& local governments, which in turn assist small businesses.
Government funding for SB can still be obtained by applying for grants from institutions that get direct assistance from the government. And as mentioned earlier, the federal government offer grants to specific services, research & programs; those which fit into specific niches or categories that the government grants to.
Although the government does not give grants to individuals starting out or expanding businesses, there are group organizations still eligible for government grants. Small business loans or grants may be awarded to companies that meet a certain criteria that the federal government has.
The criteria involve size standards established by the Small Business Administration (SBA). The most common size standards include the following: 500 employees for manufacturing & mining industries; 100 employees for wholesale trade industries; $0.75 million for agricultural industries, & more.
There is no easy way of getting government funding for SBs, but knowing where to look & what to look for, makes things a tid bit easier.
New! CommentsHave your say about what you just read! Leave me a comment in the box below.