Funding for small businesses?

Is there really such a thing?? It may seem hard to come by, but there are many sources that you could tap into for funding. Start by tapping into your personal savings, your family and friends then, look at your networking contacts, there just may be an angel investor/a venture capitalist somewhere out there who would consider investing in your idea. 

The next funding source to consider are government grants. While the most common ones offered to small businesses are the state grants, it is time-consuming and tedious to secure. An important thing to note is the status of your business. Often times, registering as a women-owned, minority-owned, veteran-owned business can be viewed favorably. The federal grants or funds on the other hand are allocated to the SBAs, SBDCs and SCORE to provide non-monetary support to the small businesses. SBA’s, however do provide different types of loans. Another source is the community block grants. It is offered to small businesses that can demonstrate the ability to create jobs in a particular region (ie; city, county, or state). Private foundations are another possible funding source and while most of that funding is usually allocated to nonprofits that benefit the community, there are private fund granting foundations and organizations out there.

While there is funding out there, it does require a bit of research to determine the best option for your particular small business.


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