Friday, July 23, 2010
Starting a Small Business?
I often get asked if there are grants available to start a small business? Yes and No is my answer. Sometimes there are some grants available to help business, but you may have to be located in a certain area, come from a certain background, or any number of other criteria that the grantor's have developed. Those grants are usually few and far between and are purposefully set up to reach a narrowly identified group.
However, there are always low interest loans available through the US Small Business Administration. This is a federal agency and the programs they offer are very sound and secure. Their website offers lots of information not only on loans but also on other programs to assist business owners. I encourage you to check out their website for additional information.
I always warn constituents to use caution in appling for loans or grants that are not federally funded. In some cases there are scams out there. It's best to research who the funder is and find out what other projects they have actually funded. Sometimes the old cliche' "If it sounds too good to be true....." is a good cautionary measure to use. to gauge wether or not to apply.