Sign up for email updates from SBAReceive helpful business tips and upcoming events in your area.


Privacy Policy
Log in to SBA.gov:
Enter your SBA.gov username.
Enter the password that accompanies your username.

Community Header Banner

Business Plan and Grant Request

by FCPC1, Window Shopper

  • Created: March 23, 2010, 5:05 pm
Share:
4 comments

I have business that offers merchant services to business clients and need to have at least $15,000 to expand operations.  I am also a minority that owns more than 50% of my business.  I am gaining more clients but know that I will be turned down for a loann to handle any plans for expansion.  I also have a business plan and it is about 85% complete.  I will complete my first year in business next January.  How likely is it that I will not receive a grant due to being well into my business operations?  And if I am still able to get a grant, where is the best source to find a grant for my situation?

Tags: Discuss Popular Topics, Loans & Grants
‹ GRANTS FOR SOLAR ENERGY How do I find out if my business qualifies for the SBA 7a Loan Program?--Nudist Resort ›

BusPlanMaster | Window Shopper | 1/18/2011 - 8:45 am

Grants are available for limited projects, such as scientific research or development in economically challenged areas. It doesn't sound like your business is likely to be grant-friendly. If you really have a solid business model, approach your local angel investment group and see what they say. Sometimes you can find an investor interested in your type of business. MaryAnnBusiness Plan MasterStart and Finance Your Business Now ---This post was edited to remove a commercial link. Read our discussion policies for more Community best practices.
Professional Web Site: http://www.BusinessPlanMaster.com

phanio | Contributor | 3/23/2010 - 5:05 pm

If your business is for-profit and does not fill a local need defined by your local government - your chances of getting grant are slim. While a bank may not help you - there may be other options for your business. Have you tried a micro-loan from a non-profit micro-lender? These organziations work with business owners who cannot find other financing. There are also asset based lenders that could help you - like purchase order financing, accounts receivable factoring or even business cash advances. Lastly, since you are only seeking $15K - there are bootstraping options like personal credit cards, home equity loans or tapping friends and family.
Professional Web Site: http://www.businessmoneytoday.com/

phanio | Contributor | 9/15/2009 - 9:53 am

If your business is for-profit and does not fill a local need defined by your local government - your chances of getting grant are slim. While a bank may not help you - there may be other options for your business. Have you tried a micro-loan from a non-profit micro-lender? These organziations work with business owners who cannot find other financing. There are also asset based lenders that could help you - like purchase order financing, accounts receivable factoring or even business cash advances. Lastly, since you are only seeking $15K - there are bootstraping options like personal credit cards, home equity loans or tapping friends and family.

BusPlanMaster | Window Shopper | 3/23/2010 - 5:05 pm

Grants are available for limited projects, such as scientific research or development in economically challenged areas. It doesn't sound like your business is likely to be grant-friendly. If you really have a solid business model, approach your local angel investment group and see what they say. Sometimes you can find an investor interested in your type of business. MaryAnnBusiness Plan MasterStart and Finance Your Business Now ---This post was edited to remove a commercial link. Read our discussion policies for more Community best practices.