Are Grants Available to Start a Business?
The answer to this is No. Not unless you have invented a new technology that is of value to a federal agency or you have developed a new way to utilize natural resources. Otherwise, there is practically no grant money out there for ordinary for-profit small businesses. Somehow the fantasy persists that there is a ton of money available to for-profit businesses that don’t need to be repaid.
The reality is that almost all grant money is awarded only to registered non-profit organizations or to businesses doing innovative research that is “in the national interest.” Ninety-five percent of new businesses are financed with personal funds (savings, family, and friends).
Those who are eligible for financing assistance, usually a loan must still invest in their own venture and provide collateral. So, if you are serious about starting or growing a viable business, you must be resourceful enough to capitalize it without “fantasy” money.
For more information about grants visit Idaho Small Business Solutions website.