How to Obtain a Grant to Start a New Business

Series Summary

Everyone has dreams about where they want their professional career to go. If you are a small business owner, you may have a hard time funding your business. This can be confusing and exasperating. Not only is it important that your business has enough start-up capital, you must also foresee a future and direction for your company. In the free entrepreneurial series on raising money to start or fund a small business, two professional business consultants discuss methods of funding a business. Want to know how to get around credit problems when raising money for a business? Wondering about angel investors and if they would be right for your company? Don't know how to read a cash flow statement or a profit-loss statement? Considering investing in a franchise business but not sure how to go about doing it? This series answers these questions and others related to started a business. Watch these informative free videos to find out how to get a small business started.

Video Transcript

"Hi I am Emily Gasner with Working Solutions. And I will be telling you about how to obtain a grant for your business. What I would like to tell you is that for the most part, businesses will apply for a business loans. Where as generally non-profit organizations with a charitable purpose apply for grants. A lot of times businesses come to me and they say, Emily we hear about all these grants on television and for the most part what I have found. Is that the grants just do not exist. If they do there might be a local non-profit organization in your community that works with entrepreneurs that might have some specific very small grant programs for under served entrepreneurs. But for the most part it would be going to the bank, a financial institution or a non-profit organization that makes loans in applying for an actual business loan. And the main thing to remember is that a difference between a grant and a loan is that the grant is a gift. And a loan is something that needs to be repaid. And just to add a little bit more. With artists, I have heard of some grants that are available for art for profit entities that do art. Also there are some grant opportunities for science, scientists that are performing research for grants. So those are two of the kind of grant programs that I have heard of. But again for the most part grants are for non-profits, and loans are for small businesses."