Minority Small Business Funding

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There has been a lot of debate recently regarding Minority Small Business Funding, and it is therefore critical for you, the reader, to grab all of the information that is out there on the vast topic of funding. Your funding can have a huge impact on your future, so don’t procrastinate any longer. Read up on Minority Small Business Funding today!

Travis Said:

SBA Minority Grant to start a small business....?

We Answered:

SBA doesn't give out grants. The best thing to do is make your business plan look and sound GREAT! A business plan is for loan officers or people willing to invest in your idea to find out the way they will get their money back once they were to invest in you and your business.

I wrote one for my uncle for a restaurant, which he'll be getting a $120,000 loan for starters. It will definitely be an advantage to get yours done. Contact www.writecompanyonline.com for your business plan and freelance business writing needs.

Virgil Said:

any small business owners want to help me?

We Answered:

12 years - incorporated thru an online service and the rest thru research
husband was working for someone else and was stressed by the way he did business
residential commercial and industrial clients
home based business
none
no
no
line of credit
bonds and permits
currently restructuring to cut costs
gas has become an issue
6 treat them well and if they leave they come back
no
no
keep good records and don't get into debt

Good luck with your project!

Jorge Said:

Is there a good site to look for Goverment Grants?

We Answered:

You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration http://www.sba.gov than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing

It is hard to find grants to start a business -- even for minorities. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for starting a for-profit business.

Here's what the Minority Business Development Agency (MBDA) http://www.mbda.gov/?section_id=3 says:
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Grants available are limited and generally for research projects, biotech or high tech.
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Grilled chicken place is not a business that typically gets grants

The ones that get grants are companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs http://www.sba.gov/aboutsba/sbaprograms/â€¦ , which fund the research and development of technological innovation that meets specific government needs.

Your best bet actually will be from the states if they offer grant programs for women (or any other special interest groups -- minorities, women, disabled, veterans, etc). Or check with non profit organizations, particularly women organizations if they offer grants. Examples include

Iowa Women's Foundation http://www.iawf.org/
New Mexico Women's Foundation http://www.nmwf.org/guidelines.html

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/COâ€¦

"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."

Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.

Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE.
http://12.46.245.173/pls/portal30/CATALOâ€¦

Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs

Marcus Said:

Small Business Loans and/or Grants for Minorities?

We Answered:

There are essentially only 4 sources for grants. A little known fact it that you do NOT have to be a non-profit to get a grant, regardless of what others tell you ... I've helped for-profits apply for grants.

Federal grants are called Small Business Innovation Research grants. These are given primarily for some new innovation. You can find out what's available at:
http://www.sbirworld.com
There is also info on this site about how to apply.

Some cities offer grants to small businesses if they will locate in the downtown area, for the purposes of building up downtown traffic. Check with City Hall.

There are some governemnt grants for minority businesses. You can find info at:
http://www.mbda.gov

Finally, private foundations offer grants. You can get a list of most US Foundations and private grant sources at http://www.foundations.org/grantmakers.hâ€¦

Melinda Said:

Is there a celebrity who donates funds to small businesses a/o minority companies in desperate need of funds?

We Answered:

I doubt it. Donations are for non-profits, not unsuccessful business. they would be flushing their money down the toilet, and few people enjoy doing that.

If you need a business loan you can get it from Uncle Sam at sba.gov.

Lance Said:

Will democrats even fund an invisible non-existent airport?

We Answered:

I'd love for a candidate to truly look at all the social programs that duplicate each other, but are all funded over and over again, and streamline it down to just a few that are very temporary.

The pork grabs like the one you just described are what's so very very wrong with politics today. It's why many of us don't trust the government with the money they confiscate from our paychecks.

Minority Small Business Funding

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