Business start up grants can assist in raising financing, that in any other case could be a cumbersome matter for most of us, but especially for women entrepreneurs who are having difficulties with small businesses. Many times these women have done the path of the conventional banks and traditional financing institutions only to be turned away due to the fact they have not been able to meet the lending demands required. Unfortunately a significant number of these women hardly ever know that there are grants available to them from both federal government and local state grant agencies. Business Grants are frequently overlooked as a source of funding for these individuals.
Women who find themselves in the situation of either needing business start up capital to start a new business venture, or to fund an existing business, should certainly consider taking the time to explore business start up grants through the different local state and federal government agencies. To make it simple for women to discover their eligibility, there are actually now various online agencies that streamline the whole grant process.
The Small Business Investment Company (SBIC) Program is a unique public/private partnership that has furnished $50 billion in financing to more than 100,000 small U.S. companies since the program’s inception in 1958. SBICs are independently organized and managed venture capital companies licensed by the U.S. Small Business Administration (SBA) to make equity capital or long-term loans available to small companies. These small companies often require financing in the critical $250,000 to $5 million amount that is generally not available through banks or non-SBIC private equity firms. SBICs fill that gap, supporting thousands of U.S. small businesses every year.
From The Small Business Administration: All businesses demand some kind of funding. An important component of starting a successful business is raising sufficient capital. There are many challenges here, but numerous resources are offered to help you.
To determine your startup costs, you need to recognize all the expenses your business will incur during its startup phase. Several of these expenses will be one-time costs, such as the fee for incorporating your business and the price of a sign for your building. Some expenses will be ongoing, such as the cost of utilities, inventory, insurance, etc.
When applying for business start up grants be certain to have all the details required to help you breeze your way through the appropriate forms. Some of this information will include your financial predictions, a business plan, a marketing plan, and some personal information.
Know Your Options Begin your search for financing by taking the SBA’s online course on How to Raise Capital
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