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How to Score A Business Grant

by Grants.com
With the economy in its current state, one option for people who are either struggling with their current business or looking to start a new business is grant money. This grant money might come from a local, private source or it might come as a part of a federal grant program. Whatever the case, this can be a really good place to start if you are not sure just how you are going to get things off the ground.

Grant money is much more readily available at the current time, as the government itself is looking to give the economy an infusion of new energy. This can come from motivated, capable individuals who want to start something new.



When looking for a business grant, the first place to start is with the government. These grants are likely to be bigger and they are more available right now than local grants in most communities. With the stimulus money being passed out all over the place, the small business owners and prospective small business owners with the know how and gumption to apply for these loans are getting lucky right now. How you score one of these loans ultimately depends upon whether you run an existing business or you are starting out.

For start up business owners

So you have a new, exciting idea for a small business to grow your community's economy, but you don't have the seed money to get it off the ground? This is a pretty common problem. Most people fail to get grant funding because they cannot put their idea down on paper in a convincing way. What you have to do is put your business plan down in terms that are realistic. How much will it cost to start the business? What is your expected revenue? What are businesses in the same market doing right now? More importantly, how much will your business help the local economy in your area?

All of these questions are important, because when you apply for a federal grant, they will be taken into account. The government is looking for businesses that have a chance to succeed. By finding the government application online and supplying this type of business plan, you can get the ball rolling on some start-up funding.

The government's grant website is located at http://grants.gov and that is a good place to start. You will find that there are hundreds of grants available for all different kinds of businesses. One way to make the search go more quickly is to perform a keyword search on that page for the type of business that you want to start. For instance, a job training center might use the keyword "vocational training" to find grants specific to that business.

From there, you should read the qualifications for the grant and how much money the grant is worth. If you don't exactly meet the qualifications, then you have two options. You can either tweak your business proposal to suit their needs or you can look for another grant.

Start up business owners have a better chance of getting money from private grants, as well. Depending upon your community, you might want to look into Chamber of Commerce grants and things of that ilk. These organizations will usually look to promote new businesses in the area, but they probably will not be able to provide complete funding for a project.

Grants for existing businesses

If you currently own a small business and it is struggling, then you are not alone. Most folks don't understand that the government is bailing out the small companies, too, though. You will have to apply for a business relief grant from the government, citing your business's inability to survive without the grant. This money is typically given out only to those companies with extreme need, so you will need to both have that extreme need and be able to demonstrate that in your application. If you can do those things, then the government may be inclined to throw some money your way in order to keep you afloat. As with the grant application for starting businesses, you will need to state your case in a convincing fashion for the officer reviewing the situation.

The same process applies for these grant seekers, as they will have to explore the possibilities online and go from there. Once you have found a grant that seems suitable, you will need to focus on writing a solid grant proposal.

Putting together the grant proposal

The most important single part of the grant application is your proposal. For small business start-ups, this will need to detail business plans both now and long term. The idea with this proposal is to show that you meet the stated qualifications as found on the granting organization's website (either the government or private grants). The more convincing your case, the more likely you are to score that business grant.

For current businesses needing a boost, the focus here will be on showing that your business is struggling to the point of devastation. Be honest with the numbers, but frame them in a way that is highly provocative for those reviewing your case.