Raising capital can be a harrowing affair for most of us, but particularly so for small struggling businesses, disadvantaged groups and those belonging to the rural sector. Often many of these people have done the rounds of the banks and traditional lending institutions only to be turned away because they have not been able to meet their very strict lending criteria. Unfortunately a large number of these people never know that there could be a multitude of grants available to them from both federal government and state agencies. Grants are often overlooked as the first place of call, and consequently much time and effort is wasted, not to mention the accompanying emotional stress.
Federal government grants total some $ 400 billion and they are distributed through 1,000 grant making agencies. The amount of money that is available is staggering, to say the least. These figures alone should be enough to encourage anyone who needs to raise finance to at least spend some time on research to see if there is grant money that is available to them. Women in particular have countless avenues open to them. The figures show that over 500,000 women begin new business ventures each year. Of these, many would have been able to qualify to receive a grant of some kind to help them get started, and without this help these women would not have been able to raise the necessary capital.
There are many specialized industries that almost instantly qualify for grants. Sheltered workshops for example have many grant opportunities open to them. Locations of high unemployment will also qualify for federal government grants as this provides a great incentive for members of the community to start their own business in these areas. Ordinarily, these people would not be able to raise money through the normal channels, where assets are required for security. Eligibility for grants is based more on the character of the person, and the amount of experience they have. Find out more from my website grants-review.com Naturally it has to be shown that the applicant has the ability to repay the money during a fixed period of time, but the terms are very flexible and attractive and are designed to help achieve success rather than hinder it.
Struggling businesses of all types will quite often be eligible for grant assistance. Those in business know only too well the hardships that are brought about by seasonal downturns, or natural disasters. These periods can leave the owner in the position that there is not enough cash flow to purchase new stock, and small business grants of up to $ 35,000 are designed to see the business owner through these tough times. Without this financial assistance many of these businesses would have to close their doors which would be such a tragic waste. It has been proven time and again, that with a little help during these small trading hiccups, the business will quickly recover and go on to bigger and better things.
Anyone who finds themselves in the position of either needing capital to start a new business venture, or to support an existing one, should seriously consider taking the time to explore the world of grants through the various state and federal agencies. To make it easy for people to ascertain their eligibility, there are now online agencies which streamline the whole lending process. Instead of making those tiresome visits and waiting in queues, it is now possible to attend to the whole submission process via the Internet from the comfort of your own home.
Small Business Grant Source:
Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants. You can find the most comprehensive information on availing of small business grants by visiting this online guide on grants here
Apart from the Government, there are several foundations that liberally offer grants for several purposes. Visit this Grant Foundation Guide to know how to avail of free grants from private foundations. Also, check out the Education Grants Guide to find the best sources for all types of education grants.