Small Business Grants
The Small Business Association, or SBA, was designed by the United States government to assist people who own or are starting up small business with financial endeavors. It was originally established in 1953, and has grown to much larger proportions today. One of the main functions of the SBA is to provide business owners with small business grants. These grants are unlike loans, which the SBA also provides, in the fact that grants are money that does not have to be repaid. An interesting fact to remember about small business grants is that they are not offered by the federal government, but are instead offered on a state level only. On the federal level, loans are available at very low rates, but grants are given only by the individual states where the business is located.
If you are interested in receiving small business grants, check with your state's local office for economic development. They should be able to provide you with the necessary information and requirements needed in order to apply, and hopefully receive a grant. Generally, if a state feels that your business will contribute to their economy, odds are you may be eligible for small business grants. You will need to provide the agency with a wide variety of information, such as what stage your business is in, how much money you have to start up, how many employees are working for you, what line of work you are in, and if you will be profitable in a certain amount of time. These are just a few of the items required when applying for small business grants, so be sure to have all information available before applying. With the help of these grants, your small business can be successful and get the resources it needs to begin fostering a healthy, profitable business.