Grant
Programs
Grants
are sums of money provided to businesses without a repayment
obligation. Grants can be funded by federal and state government
agencies or by private. foundations. Grants are rarely used
except for research and development, and few for-profit businesses
qualify for grant programs. They are generally reserved for
non-profit organizations. You will have to submit a written
proposal to the agency, organization or foundation where you
applying. It is a good idea when applying for a grant from private
funding sources to:
- Call
or visit their offices.
- Ask
if they have special forms or guidelines for submitting a
proposal.
- Ask
if there are any special requirements for applying to be sure
that you are eligible
- Find
out what their funding cycle is (some only give money at certain
times of the year).
-
Find
out when applications are accepted and decisions are made.
Your
proposal should describe:
- Purpose
(explain why you want to start a day care center).
- Goals
(what kind of center).
- Procedure
(how will you start).
-
Budget (how much it will cost to start and operate your center).
- Evaluation
(how will you determine if your business will meet you purpose
and objectives).
Once
you have completed the proposal, review it to make sure you
have met the requirements. Then submit it to the appropriate
office or officer. If your proposal is rejected, find out why.
Ask if you can make the necessary changes and re-submit. Sometimes
they are willing to fund part of your original request. Find
out which parts they can fund and re-submit for those parts.
Federal
Loan Resources
The
U.S. Small Business Administration
does not offer grants to start or expand small businesses, although
it does offer a wide variety of loan programs. While SBA does
offer some grant programs, these are generally designed to expand
and enhance organizations that provide small business management,
technical, or financial assistance. These grants generally support
non-profit organizations, intermediary lending institutions,
and state and local governments.
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2 - The Straight Scoop
Page
3 - Trickle Up Grant Program
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