What is free government money? Here are a few facts about federal government grants. These grants truly are free government money. You do not have to repay this government grant money. You are not charged any interest on these government grant money. The grants are totally tax free money. You do not require any credit history or banking record to receive these grants.
All the facts above are very good reasons for ordinary people to pursue government grant money.
A commonly asked question is, are there really any government grant programs for the type of business I want to start, an online business?
The Answer, Yes, there are lot many government grant programs or free government money for all types of small businesses, including home based internet businesses.
But before we go into details about government grant programs or free government money for small business, let me caution you about some things.
The money is free but it is not free from government regulations and rules. The first thing you must know is that there is full monitoring and auditing of these government grants. You are expected to spend the money you request in particular manner and for the particular purpose that you applied for.
The grant money that was mutually agreed upon must be spent within a particular time frame. If you fail to follow the conditions set from the government, then there can be heavy penalties, sometimes leading to fines and maybe even your imprisonment. So make sure that the grant you are seeking for your small business is used for the specific purpose that you stated when you applied grant. And make sure the money is used within agreed upon time frame.
Another question that is very common is, how much money is really distributed by the US government for small business purposes?
The answer, can you believe that more than thirty billion dollars are given annually by the government to help small businesses? Yes It’s true.
The thirty billion dollars comes from more than eighty sources at the federal government level, all allocated for small businesses across America. There are also more than three thousand state level sources that sre the source of funding for almost any small business.
There are sub categories also. There are different government grant programs for women, for low income groups and for minorities. More than twelve millions is set aside for these sub category groups.
There can be two basic types of monetary help for small businesses. You can get start up capital to start the business. You can also get monetary help to expand your existing business. More than one million small businesses have received free government money on an annual basis.
What sort of businesses are covered under these government grants for small business programs? As I mentioned before, practically every type of industry, home base industry and so many others are covered under these programs. There are just to many to list in this short article. The research you perform will expose the exhausting list of qualified businesses available for these federal and state grants.
If your grant search is intensive and thorough enough you will have no problem finding a grant to fit your needs. When you do find one choose one that is suitable for your needs. Make sure that you qualify and are truly eligible for the grant. If you are persistent enough to get through all of the red tape and follow the application instructions as instructed you may be well on your way to benefitting from a free government grant for your small business.
I hope this article was of some use to you and good luck with your search for a federal or state government grant.
Posts Tagged ‘Business Purposes’
Pursuing Government Grants For Your Small Business
December 13th, 2009Help From US Government In Setting Up Small Business By People Belonging To Minority Communities
December 11th, 2009The US Government has recognized the concern of enhancing the lives of underprivileged people. Their citizens have voted senators and congressmen to power. The main election campaign of US is based on the assurance to the minorities for their financial empowerment. These assurances in fact drive the politics of grants provided by the State and Federal Government of United States. A small business grant is said to be a direct financial payment offered by the government to the minorities. These grants are actually based on some of the criteria’s that are specifically designed to promote entrepreneurs begin or expand their small businesses. Several millions of dollars is being granted to minorities in America for small business purposes. These minorities may include Indian Americans, African Americans, Hispanic Americans, Asian Americans or any other minorities. Minority Grant Programs Minority business grants in US are listed in all the grants assistance programs offered by government. They deal out finances for lending to student business training, community based business opportunities, minority entrepreneurs, real estate investment and research work. An ethnic minority or a women entrepreneur is also entitled to these funds particularly for developing their business ventures. An entrepreneur who seeks these funds for any kind of business or any personal projects must possess a practical business arrangement. These entrepreneurs must spotlight on how to enhance their business venture for surviving independently without these programs. Ultimately, your main aim would be to build a flourishing business and so you should have some kind of business idea to succeed without any minority funds within 3 to 5 years. This is why it is important for you to work hard and also to have a discernment of market if you want to succeed in your business. Different Types of Business Grants From the time when the US government has introduced small business minority grants, many minority businesses have developed throughout the United States. Since the year 1992, minority business firms have increased incredibly from 2. 1 to 2. 8 million. These small business minority grants can be obtained from the following: - You can obtain one billion dollars as grants for starting a business through a minority business grant. You can also obtain these grants for expanding you existing business venture. You can receive 9,000 dollars for free legal advice. You can receive 6,000 dollars for college tuitions. You can even receive 75,000 for remodeling your house through these grants. You can also receive special help for the women’s entrepreneurs program. The US government has in fact provided a great opportunity to all the minority communities for starting their own small business. This in fact will lead to the social integration and economic empowerment of these people.
