How to Get a Small Business Grant

By Lanee’ Blunt

An entrepreneur seeking a small businessgrant must do his homework. The Federal government does not provide grants forstarting a new business. Federal grants are given to non-profit organizations, largebusinesses in government-sponsored scientific research and local and stategovernments. There are minority programs that assist new businesses, and smallbusiness grants for businesses engaged in scientific research and development(R&D).

The provides a search tool forfinding a broad range of financial assistance programs that your business mightqualify for. The National Minority Supply and Diversity Council (NMSDC) is agreat source because it provides a direct link between minority business andcorporations that want to purchase goods and services from minorities. Somegrants are not free and usually require the business to match funds or it mayrequire that the company get a business loan to accompany the grant.

Apply for grants at the website. Downloada grant application and complete it offline. Write a grant proposal or hire a grantwriter to write the proposal for you. Prepare a business plan. Write all yourideas down about your business because it will make it easier when you beginyour outline. Decide what you are going to put in the business plan. Get abusiness plan template. A business plan will help you get outside funding, helpget credit from suppliers, help you market your business, and help serve as aroad map when you are starting out.

SBA: How Do I Get a Small Business Grant or Loan?
SBA: Research Grants Small Businesses Apply for Grants
Entrepreneur: Minority Loan and Grant Programs