How to Get Free Government Financial Assistance for Your Small Business

Free government financial aid is available to small businesses.

The American Recovery and Reinvestment Act of 2009, also known as the Stimulus Plan, has provisions for small businesses to obtain financial assistance. Your small business may or may not qualify for assistance under this plan; however, there are still billions of dollars available to small business owners and entrepreneurs. Finding government financial aid can be tricky and difficult, as the programs are not widely publicized and the eligibility requirements can be complicated. Learn how you can get government financial assistance for your small business.

Instructions

1. The key to taking advantage of government financial assistance is finding a knowledgeable person or group to help you navigate the system and give you advice about small business funding. The average business owner may not understand the process or the required criteria and finding someone who has been through the process will save you time and aggravation.

2. First, determine if your business qualifies as a small disadvantaged business. Small businesses owned by veterans, women, or minorities fall under this category. The government earmarks funds for disadvantaged businesses so that they can compete for federally funded projects. If your business qualifies as a small disadvantaged business, you may be able to get funding under The American Recovery and Reinvestment Act of 2009.

3. Contact the Small Business Administration (SBA). The SBA is a government agency whose purpose is to provide information, assistance, and help small businesses grow and thrive. The SBA has partnerships with public and private organizations and can offer many resources to small business owners including information on government grants and Federal Assistance programs. The SBA does not itself lend or grant money, but it is a vehicle to help small businesses find financial assistance and free money.

4. Contact your local Chamber of Commerce. The purpose of The Chamber of Commerce is to support and strengthen the local community by providing a network of members who help each other by networking and sharing information. There is a fee to join your local Chamber of Commerce, but, you will encounter numerous networking and educational opportunities that can connect you with financial assistance for your small business. Typical members of a chamber of commerce include county personnel, bankers, realtors, accountants, attorneys, insurance agents, medical professionals, and non-profit organizations. All of these people have access to information or business experience that could help you find free financial assistance for your small business.

5. Contact the Office of the Governor in your state. You can find information on Economic Development initiatives in your area.

6. See the resources section below for links to helpful websites offering information regarding government assistance for your small business.

Tips & Warnings

• Patience and determination is the key. Keep asking questions and networking until you find a program that will work for your small business.

Resources

• Small Business Administration
• American Recovery and Reinvestment Act of 2009
• Find Your Local Chamber of Commerce