Facts on Start-up Grants

A start-up grant can be used to allow a business to open its doors and begin selling a product or service. Start-up grants are a great way for those with little to no capital to get their business off to a successful start. Grants typically do not have to be paid back, so fierce qualification guidelines must be met.

Types

The main type of start-up grant that is available from the federal government would include monies issued to a business owner if the intention was to improve the area or building in which he will be conducting business. This could be for such businesses as art galleries, environmental businesses and even nonprofit organizations.

Function

The function of a start-up grant would be to lend money to a deserving business owner who either wants to start a new business or add on to a current business.

Size

The size of a start-up grant can range from a few hundred dollars to several thousand dollars.

Potential

The potential of obtaining a start-up grant allows for the business owner to use the grant money to launch the business by purchasing real estate and supplies while not exhausting their own funds.

Considerations

Considerations should be taken when applying for a start up grant. Many government agencies who issue the grants require the business owner to meet strict requirements, and if those requirements are not met, the money will have to paid back.

Resources

• Search for Start-Up Grants