Owning your own business requires the right amount of business funding to get your idea off the ground and running. A few of the options and programs that are available beyond your investment are loans, investors, and business grants. Capital from a small business grant is an excellent option when looking for business funding because it does not have to be paid back unlike loans that have to be repaid and also charge interest. The big catch is that these grants are not easy to find, using the internet is the way to start your journey on the road to some funding from business grants.
Searching the web is the place to start, but you have to realize that this takes time and patience to pick through all the grant offerings on the internet and grant data websites. Small business grants are offered by the federal, state and local governments as well as foundations, organizations and large corporations. The eligibility, criteria and application process varies a great deal as does the money being offered.
One thing to keep in mind grants from the government is limited in eligibility and on how the grant money is to be used once awarded. For the most part, government business grants do not provide funds starting a new business, paying off debt or covering the basic operational expenses. Although if your company is in the field of medical research, science or environmental assistance you have a great chance of finding a government grant to apply to and the best place to start is on grants.gov the federal government’s website for their listings of all grant opportunities.
Checking out your state and local governments’ sites to see what business funding programs are available at this level, usually located under their business development section of their website. Many times state and municipalities will offer business grants to attract new businesses to open up shop or relocate to their area so they can help boost the local economy.
Next step is to research private foundations and organizations that offer
Small Business Grants along with large corporations that may run contests and the prize being a grant. Quite a few of these grants are run yearly and many times offer a sizable business grant even for companies that are in the startup phase. Time and patience will allow you to find plenty of grant opportunities to apply for business funding.