Grants for Small Startup Businesses
Most federal business grants for start-ups are targeted at non-profits. However, the federal government does offer grants for people who wish to start their own farm, with regulations and specifications varying by state. The federal government also, in some cases, provides matching funds for new start-ups where investors are already present. While there are few grants for new private businesses, there are many government agencies and private companies that offer low-interest loans.
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Government Grants
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Grants and loans applications are not given without a business plan. The United States Small Business Administration (SBA) does not offer grants to start or expand small businesses. However, they do match funds for some forms of businesses, such as women- owned companies, non-profits and alternative energy businesses. For every dollar in private funds those businesses can raise, they are then eligible to receive another two dollars from the SBA. Requirements vary depending on the state where the business is located.
US Small Business Administration
409 3rd Street, SW
Washington, DC 20416
1-800-827-5722
sba.gov
NASBIC
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Read all the details when applying for a grant to make sure you qualify. The National Association of Small Business Investment Companies (NASBIC) is a private organization that makes investments in other businesses. They do offer a limited number of grants to members and other types of investments and loans are available. They offer financing in exchange for company stock, treasury bonds or low-interest loans. They also offer help and resources for starting and maintaining a business.
1100 H St. NW
Suite 610
Washington, DC 20005
202-628-5055
nasbic.org
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WebMomz
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Join business groups that offer resources for new business. WebMomz.com offers a $500 grant to aspiring business women who wish to start their own company. They offer the grant to one woman per year who is at least 18 years old, starting a new business, has a business plan and lives in the United States. The 2009 winner started a completely mobile massage business.
Business Owner Side Cafe
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Many grants have strict rules and requirements on how the money may be used. Businessownersideacafe.com offers a $1,000 grant every year to a start-up or current business. Along with the money, they also offer the business free publicity. Winners are chosen by having the most innovative business idea. The 2009 winner started the company All-American Fencing Academy, where she trains new and competitive fencers.
USDA
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If grant money isn't used appropriately, the money will need to be returned and penalties may occur. The United States Department of Agriculture is one of the few government agencies that occasionally offers start-up grants. The business must relate to agriculture in some way, such as plant farms, animal products, research, education and biotechnology. Requirements differ for each grant. Availability depends on the government providing the funding.
National Institute of Food and Agriculture
Waterfront Centre
800 9th St. SW., Washington, DC 20024
202-720-4423
nifa.usda.gov
Sustainable Agriculture Research and Education
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If you hire a company to apply for grants, check out their Better Business Bureau status. The Sustainable Agriculture Research and Education grants (SARE) go to produce suppliers who are willing to work on research, marketing and demonstration projects and are also willing to share their results with other farmers. Start-up farm businesses are allowed to apply. Grants can range from $1,000 to $15,000 for produce grants and $30,000 to $150,000 or more for research and education grants.
USDA-NIFA
Stop 2223
1400 Independence Ave. SW
Washington, D.C. 20250-2223
202-720-5384
sare.org
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References
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