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How do I get a government grant to start my own business

by cwalsh, Window Shopper

  • Created: January 14, 2010, 12:00 am
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5 comments

I am a 29 year old women and am trying to start my own medical billing company down in an area of Florida. I am in the process of completing my business plan but from here I do not know of I am going to get the funds to start the business. I have very bad credit and no one will give me a loan to start this business and so I am trying to get a governmental grant to start this business. Does any one know how I can apply for a grant to do this. Please anyone if you have links or contact numbers to tell me how to go about doing this would be most appreciated thanks.

Tags: Discuss Popular Topics, Loans & Grants
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phanio | Contributor | 1/18/2010 - 7:57 pm

Forget about grants for your business - your chances are way to slim. You are just wasting your time. abhi - makes some very good points. The idea is to find other ways. Even with bad credit - there are ways to bootstrap a business until it becomes creditworthy in the eyes of lenders. Or, simple take the time now and work hard to improve your credit. If you can do this - you would have many more financing options and not have to face your poor credit as you move forward with your business. If there were grants out there for any for-profit business - every one in the country would be in business for themselves.
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ChristineL | Former Moderator | 1/14/2010 - 11:42 am

cwalsh, There are no government grants for starting a for-profit business. Read more about it in The Truth about Government Grants and Learn more about obtaining loans as business owners with poor credit We also wrote a blog that may be helpful to you here: I need Money- where do I get it?.

abhi | Contributor | 1/14/2010 - 8:19 am

Instead of getting Funds from Government. Why don't you try for some big medical companies? I have never tried about Govt. funds but yes i tried for the funds from some companies. I just represented my idea to them and answered some question and they offered me their help. I don't think you will get a much help from Govt. You can try for a loan from some Bank.

jamestkirk | Creator | 1/14/2010 - 5:52 pm

Christine - can't you get grants for specific types of business? Like energy efficiency ones?

phanio | Contributor | 1/18/2010 - 7:53 pm

You can't really get grants for energy efficiency businesses - you might be able to receive some tax credits - but not direct funding. Those companies that received direct funding - lobby the government for those funds way before the similus package was passed.