Applying for Business Start-up Grants
If you’re starting up a new business and you require small business loans to get the business up and running, think about applying for a government grant. Grants are utilized by start-ups to secure financing which is an alternative to loans. A grant includes a sum of money provided to an entity or person for a certain purpose that, unlike loans, doesn’t have to be paid back. The U.S. government offers grants to owners of businesses to support and induce business ownership and the specific grant’s purpose. To obtain a business grant to assist in starting your business, you have to apply for a grant via the U.S. Government’s Grants.gov site.
Look for grants on the Grants.gov site. The website features a categorized listing of all the available grants provided by the U.S. agencies authorized to offer grants. Look for a grant based upon your business’ category. Check the “Business and Commerce” category for all grants which specifically are available to startups. Write its “Funding Opportunity Number” upon paper in order for you to use it to download the application package.
Assess the grant to make sure you’re eligible for the grant. You’ll have the ability to evaluate the grant’s requirements for eligibility by clicking the hyperlink contained inside the grant’s title. The grant’s synopsis lists the organizations or persons eligible to get the grant and offer a purpose description for which the grant has to be utilized.
Register with Grants.gov site. Register with their site by clicking upon its “Get Registered” link underneath the “For Applicants” segment of their navigation bar. You’ll need to select whether you’re applying as an organization or individual then make a profile.
Download then fill out the grant’s application. Click upon the link “Apply for Grants” inside the “For Applicants” segment of the navigation bar. Push the link “Download a Grant Application Package” then type in the “Funding Opportunity Number” listed inside the search field. Every application will be specific to the grant for which you’re applying, thereby you have to assess the application’s directions prior to completing it. The application includes a PDF you may complete then save on the computer. You can’t be signed into the site as you finish the application.
Log in the Grants.gov site utilizing your profile then submit the grant application. As you’re logged in the Grants.gov site, choose the link “Save and Submit” on page one of the grant application in order to submit the grant application.
When you are borrowing money, it is important that you think things through and that you make sure that you will be able to afford to pay off the loan in time. You need to know that you will be able to get out of debt at some point. Think about the loan that you are considering and make sure that it is something that you will be able to pay off. Make sure that taking out such a loan is the right decision for your business and the needs that you have.