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by rackboiclothing, Window Shopper

  • Created: March 23, 2010, 8:45 pm
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3 comments

Hi friends I've had a clothing store for 10 months now but its getting to be really hard is there any way to get a grant from the gov. for help

Edited for formatting

Tags: Discuss Popular Topics, Loans & Grants
‹ Grants or loans & student projects Information ›

JamieD | Former Moderator | 12/31/2009 - 9:16 am

Hi rackboiclothing - Unfortunately, the government does not provide grants to individuals who wish to start a for-profit small business. For more information on the reality behind government grants check out The Truth About Government Grants. Although the Recovery Act does not specifically provide funds to start up for-profit businesses, SBA's Microloan Program provides small loans to business owners for a wide variety of reasons. For more information on the Microloan Program as well as other potential financing opportunities, check out these blog articles: Good luck with your search and we hope you'll continue to share your progress and experience with the community! Message Edited by JamieD on 12-31-2009 09:17 AM

PatMcKee | Window Shopper | 3/3/2010 - 6:33 pm

Show Replied Text…
Hi rackboiclothing - Unfortunately, the government does not provide grants to individuals who wish to start a for-profit small business. For more information on the reality behind government grants check out The Truth About Government Grants. Although the Recovery Act does not specifically provide funds to start up for-profit businesses, SBA's Microloan Program provides small loans to business owners for a wide variety of reasons. For more information on the Microloan Program as well as other potential financing opportunities, check out these blog articles: I Need Money - Where do I get it? Additional Stimulus Funds New Lenders for SBA's Microloan Program Good luck with your search and we hope you'll continue to share your progress and experience with the community! Message Edited by JamieD on 12-31-2009 09:17 AM
Hi RBC,   Do get a grant if you can get one, but also keep in mind that clothing stores are seasonal, online or offline.   There is a slowdown during January/February and another one in August.

mrhelpful | Contributor | 3/3/2010 - 10:00 pm

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Hi RBC, Do get a grant if you can get one, but also keep in mind that clothing stores are seasonal, online or offline. There is a slowdown during January/February and another one in August.
I very much doubtt here would be much in the way of grants available. mst likely you'll need to look at traditional loans and funding lines. Are you able to refinance or leverage off your home mortgage? This is one of the most cost effective types of borrowing you can get as interest rates are very low compared to other funding lines.