Small business grant money does exist for many types of specific project requests.
Sources of grant money vary widely, with very specific requirements. Requests typically require all sorts of supporting documentation.
Completing a grant request can be quite tedious work and is very time consuming, with no guarantee that the applicant will receive any funds whatsoever.
Grant money draws a lot of interest from people. When people hear the term “grant”, some instantly equate this term with the word “free”.
While it’s true that most grants do not have to be repaid, it’s also true that recipients of such grants must meet, in most cases, very stringent criteria that is established by the entity offering the grant.
Recipients of a grant will typically have to utilize the money within a set time period, and are required to present a clear record for how the grant dollars were spent. In effect, there is definitely a lot of work that goes along with receiving any “free” money.
Small business grant money, while certainly an option worth looking into if your business is well established – most typically will be reserved for well established non-profit entities.
In some cases a startup project may qualify for a grant. Once again, however, the leaders of the project need to show a history of quality work experience. They must pass a thorough background and credit investigation – proving they are trustworthy and up to the challenge of completing the project in a timely manner.
While it may not be a popular thing to hear, the fact remains that small business grant money is NOT readily accessible for most businesses – especially new startup retail businesses.
Free money – for the most part – is a myth, plain and simple. Conduct your own research on the matter by checking out this link to the Small Business Administration.
While the government does award grants to some non-profit and state agencies, they do not offer small business grant money to just anyone for the taking.
(The SBA does provide various small business loan options worth researching. If you have a good collateral position and good credit, a small business administration (SBA) loan may just be the option you need to move closer to realizing your dream.)
Some states do offer small business grant money in low to moderate economic zones under very specific conditions. Go to your state’s website to further explore this option.
Regardless of your current situation, never give up on your dream. Grant money or not – all obstacles can be overcome through proper planning, persistence, and an iron will!
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