It’s everyone’s dream, to get a government grants for start up businesses. Who wouldn’t want it? It is free money to start your own business, a way for people to achieve their American dream. However as we know, life doesn’t work like a fairytale like that. No one is giving money away free money like that with no guarantee that the money will be used for good cause, especially if the giver is the government. Of course it’s not completely unreasonable that you think government will provides grants for small business in order to encourage economic development in the States. In addition there are loud buzzes in the internet about the government grants for start up businesses, some websites claiming they have information about it and charge you get more “detailed information” on how to get it. Don’t fall for it because it is likely a way to scam some money from honest American like you. Here we won’t give you that kind of non sense. We will start by giving you hard cold fact information that the government doesn’t provide grant for any of the following:
- Paying off debt
- Covering operational expenses
- Starting a business
The Government grant are all funded by the tax dollars paid by the American citizen, therefore stringent reporting measures and compliance are need to make sure the money is used rightfully.
However, for several small businesses in specific causes identified by the government such as medical and scientific research, and conservational effort there are some federal government grant available. We will share you the information about it and see if you are rightly qualify for the programs.
- The SBIR program or the Small Business Innovation Research: If your small business is involved in scientific R&D or research and development then you may qualify for this federal program. The program is intended to encourage research and development for innovative technological product. Search for the Small Business Innovation Research (SBIR) program in the internet for more detailed information about this program.
- SBA loan program: although it isn’t a grant program you can involve in SBA loan programs in which the SBA placing repayment guarantees on commercial lender loans thus sharing and decreasing the loan risk. With this program you can get a loan more easily to start your business.
How to safely find grants
Like we’ve mentioned earlier, there are a lot of websites offering fake information about fake government grants for start up businesses that actually an effort to scam your money. Here we will give you some safe way to get information about government grant:
- Use the SBA grants and loans search tool to search for Small Business Grants.
- Visit the official website for the government grant (Grants.gov). In the website you can search over 1,000 grant programs worth more than $500 billion annually. Look if you are eligible to any program and if so, apply accordingly. If you follow this step you can get information about government grants without having to take a risk of being scammed.
- Who is Eligible for a Grant?. grants.gov/aboutgrants/eligibility.jsp
- Images: examiner.com, smallbusiness.chron.com