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Finding a Grant to Start my Small Business

by jennifur75, Window Shopper

  • Created: March 23, 2010, 10:03 pm
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10 comments

Hello! I have recently decided I would like to start my own business. I am wanting to do a billing company from home, primarely medical billing. I have years of experience, so that won't be a problem. My concerns are probably the same as everyone else's, such as getting started.

I know there are all sorts of grants out there, but how do I find one for me? There are so many options, and so far the pages I have went through don't fit me.

Message Edited by ChristineL on 01-29-2010 03:01 PM
Tags: Discuss Popular Topics, Loans & Grants
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NicoleD | Former Moderator | 6/8/2010 - 9:43 am

@DianaCap - Without knowing the details of your friend's business, it is hard to know what kind of financing they received. Perhaps your friend received an economic development grant. Some states use federal funding to establish job creation grants - available for businesses that develop new job opportunities in specific areas of the state. However, these are hard to come by and only a very small sub-set of businesses are eligible based on the conditions established by the state. To echo the other posters, the simple truth is that the federal government does not provide grants for starting and expanding a business.

DianaCap | Window Shopper | 6/8/2010 - 7:49 am

About 2 years ago, a friend started a business by getting a Government Grant.  I keep reading that the Government does NOT give grants unless they are for non-profit businesses.  Can someone fill me in on the truth about grants?  I see advertisements all the time about Government grants for small business owners...so what's the deal?  Thanks!

TomCuthbert | Window Shopper | 6/1/2010 - 7:20 am

Interesting Information here, thanks!
Professional Web Site: http://www.gbploans.com

phanio | Contributor | 1/30/2010 - 8:59 pm

No grants - sorry, that is just not the way they work - no matter what people tell you. You would be better off starting with a business plan. Thus, during this planning process, you will determine how much you actually need and possible sources of getting those funds as well as alternatives.
Professional Web Site: http://www.businessmoneytoday.com/

ChristineL | Former Moderator | 1/29/2010 - 3:00 pm

Hi jennifur75, There are no government grants for starting a for-profit business. Read more about it in: The Truth about Government Grants Grants & Loans: Break Through the Myths & Find the Right Financing for Your Needs I need Money- where do I get it? Feel free to check out the Loans and Grants tool to see if there are any loans available for your line of business.

BusPlanMaster | Window Shopper | 1/29/2010 - 6:40 pm

Show Replied Text…
Hi jennifur75, There are no government grants for starting a for-profit business. Read more about it in: The Truth about Government Grants Grants & Loans: Break Through the Myths & Find the Right Financing for Your NeedsI need Money- where do I get it?Feel free to check out the Loans and Grants tool to see if there are any loans available for your line of business.
Christine is right on. You would have a hard time finding a grant for a medical billing business. The good news is that you are in constant contact with people who CAN help you: professionals in the medical field. If you have a strong relationship with one or more medical offices at this point, get your business plan in shape and approach them as becoming lenders for your business. Or perhaps guarantors on your loan. If they already know your work, and know you will do a good job, they just might be receptive to such an idea. Don't try to talk it through. Really sit down, figure out how much you truly need to make a success, and ask for that amount. Since most medical people won't have time to sit down and talk immediately, make sure your ideas are presented in a good written form. I know it can be hard going up to a doctor and saying, 'Hey, I'm looking for a loan', so here is another way you can handle it: Leave your business plan with the doctor's assistant, with a note on top, 'I will be looking for financing on this project. Before I take it to the bank, would you be so kind as to see if it looks reasonable to you? I would appreciate any comments you have.' With this approach, you are not putting the doctor on the spot, but you are giving her/him the opportunity to invest if s/he is so inclined. Good luck. 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

holnkevin | Window Shopper | 2/28/2010 - 10:44 pm

Show Replied Text…
Hi jennifur75, There are no government grants for starting a for-profit business. Read more about it in: The Truth about Government Grants Grants & Loans: Break Through the Myths & Find the Right Financing for Your NeedsI need Money- where do I get it?Feel free to check out the Loans and Grants tool to see if there are any loans available for your line of business.
I would have to disagree with you on the point of grants are not given for profit companies.  I actually know a lady who received a grant to open and run a bar.

teamextension | Contributor | 3/1/2010 - 12:50 am

Show Replied Text…
I would have to disagree with you on the point of grants are not given for profit companies.  I actually know a lady who received a grant to open and run a bar.
Hi holnkevin. Do you have more information about the kind of grant given to your lady friend? Was there any special situation that allowed her to get such a grant?
Professional Web Site: http://www.teamextension.com

mrhelpful | Contributor | 3/9/2010 - 8:37 pm

Show Replied Text…
I would have to disagree with you on the point of grants are not given for profit companies.  I actually know a lady who received a grant to open and run a bar.
holnkevin, What state was this in? also, who issued the grant?

GR7522 | Window Shopper | 6/2/2010 - 12:40 pm

ChristineL or Moderator: Excellent information! I'm glad I found this thread. This info below was just what I needed. I posted a question in another post but if I had seen this, I wouldn't have posted. Thank you for this information. Regards, GR Nutritional Supplement ----------------------------------------------------------------------------------------------------------------- There are no government grants for starting a for-profit business. Read more about it in: The Truth about Government Grants Grants & Loans: Break Through the Myths & Find the Right Financing for Your Needs I need Money- where do I get it? Feel free to check out the Loans and Grants tool to see if there are any loans available for your line of business. Christine ---This post was edited to remove a commercial link. Read our discussion policies for more Community best practices.