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Government Funding?

by TeamBiz, Performer

  • Created: March 23, 2010, 10:56 pm
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4 comments

I heard about government funding, and I have talked to a few people about it - starting from my family. One is also an aspiring business owner, who told me that she had the papers that tells everything about it. And I've tried looking all over the internet about it. I was relucant about doing anything until I've found the right place where to get it STRAIGHT from the government, and not this little scam.

 

In this economy, the last thing I need is for someone to be sabotaging me. 

 

I am starting a media corporation. With the intention of growing out of that expertise in the future. 

 

I have 7 years of advertising and marketing under my belt - I have friends willing to help and work with me.

Tags: Discuss Popular Topics, Loans & Grants
‹ Seeking Government Grant Programs for Green Manufactured Products Loans and Patriot Act ›

phanio | Contributor | 3/23/2010 - 10:56 pm

If you are a for profit business - there are very few grant options or government funding opportunities for you. The government has reduced some of the burden in applying for and qualifing for SBA loans - but, you still must meet bansk requirements including having collateral or down payment (at least 10%), excellent credit and income to serivce the debt. You might be better off asking your friends and family as well as friends in the industry to help you with funding - either in the form of a loan or for equity in your company. Remeber, these people know you best and should be more lenient as you build your company. You might even approach some past customers for backing - thus you get funding and clients.
Professional Web Site: http://www.businessmoneytoday.com/

CharlotteW | Former Moderator | 3/23/2010 - 10:56 pm

Hi TeamBiz, Thanks for posting your question. I recently wrote an article on this topic. Please check out the Truth About Government Grants article. As frustrating as it is to hear, Federal and state government agencies do not provide grants for starting a business, paying off debt, or to cover operating expenses. The article also provides answers to other common questions about government funding. The follow-up article, Grants.gov...What's in it for Businesses continues with this explanation and answers other commom questions that have been noted on the Loans, Grants, & Taxes community discussion board. Finally, I suggest reading the Loans and Grants guide of Business.gov for additional resources. I hope this information helps answer your questions about government funding.

phanio | Contributor | 7/11/2009 - 2:48 pm

If you are a for profit business - there are very few grant options or government funding opportunities for you. The government has reduced some of the burden in applying for and qualifing for SBA loans - but, you still must meet bansk requirements including having collateral or down payment (at least 10%), excellent credit and income to serivce the debt. You might be better off asking your friends and family as well as friends in the industry to help you with funding - either in the form of a loan or for equity in your company. Remeber, these people know you best and should be more lenient as you build your company. You might even approach some past customers for backing - thus you get funding and clients.

CharlotteW | Former Moderator | 7/8/2009 - 4:52 pm

Hi TeamBiz, Thanks for posting your question. I recently wrote an article on this topic. Please check out the Truth About Government Grants article. As frustrating as it is to hear, Federal and state government agencies do not provide grants for starting a business, paying off debt, or to cover operating expenses. The article also provides answers to other common questions about government funding. The follow-up article, Grants.gov...What's in it for Businesses continues with this explanation and answers other commom questions that have been noted on the Loans, Grants, & Taxes community discussion board. Finally, I suggest reading the Loans and Grants guide of Business.gov for additional resources. I hope this information helps answer your questions about government funding.