Posts Tagged ‘Grants’

Finding grants for small business in Canada becomes easy with some tips

To establish a small business in Canada the first thing you need to find out is some small business grants for funding your business. It is not an easy task although to locate the best available grants in Canada. Most of the small business grants Canada government offers are restricted to some specific types of business at specific locations. And to avail those, you have to abide by certain terms and conditions and invest some amount of personal money as well.

Though there are quite a few subsidies for funding small business, to find out a small business grant you have to search really hard. You have to know where to look for to get a grant which would not have too many terms and conditions and will be easy to avail. As there is no readymade list available for the small business grants Canada government has, to follow some guidelines would always be helpful to make the search less difficult.

If you log on to the websites of Canada government, you will rarely find the term “small business grants”. This is because the government offers very limited grants for small business. Instead of searching for small business grants Canada, you can look for contributions, subsidies, rebates, tax rebates, shared costs, or non-repayable loans. This can be helpful because through these searches you can find out some non-repayable funding for your small business, which can actually serve the purpose of a small business grant.

Businesses which fulfill the criteria of availing grants from Canada government or those located in areas which are specified for government grants, can obtain the small business grants Canada easily. But for other businesses, obtaining funds may be slightly difficult. In Canada, retail businesses receive the least funding from government grants. And businesses located at a particular area get more grants than those of other areas. So, you must plan to locate your small business accordingly to get the best possible grants.

The core sites of the Canadian government are helpful in providing the lists of small business grants Canada government assists with. The Industry Canada Website will give you information about the available government grants in your region. Another such helpful core site is Canada Business Network. And you can also visit the regional Business Service Centre websites, some of which will have helpful information on small business grants.

To make your search more specific, you can look for grants which are available for the particular type of small business that you want to start. Searching on the Canada Business Website by Business Sector can be helpful. Searching through search engine may also useful if you know where to look for.

If your business will be involved in exporting, research and development, or improvement of the environment, chances of getting a small business grant for your small business will be much higher. Special emphasis are now given on developing alternative energy sources and green energy options.

Though the small business grants Canada government offers are few in number, by putting yourself at the right position, you can easily avail the grants for funding your small business.

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Small Business Federal Grants

It's important to know that the U.S. Federal Government, as a rule, does not award federal grants to private for-profit small businesses. Unless you are a 501C3 non-profit agency that is organized for charitable purposes and tax exempt under the IRS tax code, your small business is not eligible for federal grants.

That's the bad news. The good news is there are federal resources available for qualified small businesses to apply for.

The U.S. Small Business Administration (SBA) is the federal agency created in 1953 to help Americans start, build and grow businesses. The SBA serves people in the United States, American Samoa, Puerto Rico, the U.S. Virgin Islands and Guam. Although the SBA does not award grants to start or expand small businesses, they do have a wide range of loan programs available. You can access the Small Business Administration website at sba.gov. You can also find SBA programs in Federal Programs - Small Business Administration (SBA).

The SBA does have an exception to the "no federal grants" rule for small businesses, but it is targeted to innovation research and high technology companies. The Small Business Innovation Research Program is a highly competitive program that funds the startup and commercial development stages of an innovative technology, product or service. The Small Business Technology Transfer Program is another competitive program that funds awards to small businesses which partner with nonprofit research institutions for the commercialization of technology products.

Below is just a portion of the SBA programs that may be able to help American small businesses. The Small Business Administration is primarily a guarantor of loans, meaning that the federal government does not loan money directly to small businesses; they guarantee the loans made by lending institutions to qualified small businesses, making it easier for small businesses to qualify for loans they might not otherwise be eligible for.

1. 504 Certified Development Loans: Provides long-term fixed-rate financing to small businesses to acquire real estate, machinery or equipment for expansion or modernization. These loans are usually delivered through a Certified Development Company (CDC) with liens placed on the collateral and a contribution of 10% equity from the borrower.

2. 7(A) Export Loan Guarantees: This program aids and assists small-business to increase their ability to compete in international markets by enhancing their ability to export; facilitating technology transfers; enhancing their ability to complete effectively and efficiently against imports; increasing the access of small businesses to long-term capital for the purchase of new plant and equipment used in the production of goods and services involved in international trade. Loan proceeds can be used to construct, expand, or convert facilities; to purchase building equipment or materials; inventory and for export working capital.

3. 7(A) Loan Guarantees: Loan proceeds can be used for working capital, machinery and equipment, furniture and fixtures, land and building (including purchase, renovation and new construction), leasehold improvements, and debt refinancing under special conditions. Loan maturity is usually up to 10 years for working capital and 25 years for fixed assets. This loan targets start-up and existing small businesses.

4. Microloan Program: These loans target women, low-income, and minority entrepreneurs, business owners, and other individuals possessing the capability to operate successful business concerns and to assist small business concerns in those areas suffering from a lack of credit due to economic downturns. Provides short-term loans up to $35,000 for working capital, inventory, supplies, furniture, fixtures, machinery or equipment.

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Important Information Regarding Small Business Grants

Poor financing is noted to be one of the reasons for failure in small businesses and also when it not managed properly. It is paramount to have sufficient funding in order to see success in any small business and the availability of small business grants have proved to be the right answer for this problem.

If you as the business owner have the necessary knowledge about finding and properly applying for the small business grant then you should be having the most successful business that gains excellent profits.

Business Grants

The US Government offers more than 300 different grants for small business owners to just start their business. These grants usually range between $25,000 to nearly $1,000,000 and they depend on the projected success and growth rate of your business. There are several business grants available for your small business to develop and expand your business.

These grants should not be misunderstood over loans as they are not to be repaid. They are also considered as free money and also as investments to promote a successful business and a successful US economy. The money for the grants is normally derived from income taxes. In order to obtain a small business grant will also not require your credit checks or deposits although you have bad credit or have bankruptcy.

Finding Small Business Grants

There are tons of helpful website that provide small business US government grant packages free of cost even without the shipping cost. These grant packages basically include information on how you can find, prepare and apply for small business grants. Some of the providers in business grants include government funding solutions, Grant Wizard and Grant Master.

Apart from this it is also important to know the rules of Small Business Administration (SBA) to receive the grants before starting the process in obtaining one. Even though the SBA does not offer small business grants the however provide helpful information and resources for finding small business grants.

Small Business Grant Information Resource

In order to qualify for the small business grant you as the business owner should first become familiar all the documents which lists all the requirements to become eligible for the small business grant. These documents include all the information about the post award and pre award periods and it also defines all the aspects of applying for the grant and state that is eligible.

The document is the primary and the most important source for the rules and regulations for small business grants. They are a must read before you start the process of business grants. After you have met the requirements for the grant you should write an appropriate small business grant requirement. There are several professional who would help you in writing the business grant proposal.

There is also the Federal Domestic Assistance which can prove to be helpful with several links to resources and information about small business federal grants or you can also visit the official website of US government where there is complete and accurate information about small business grants.

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How To Apply For The Grants For Small Businesses And Firms

Small business grants are a boon for businessmen eager to start their small but significant business. However many people are unaware about these types of grants and are confused about the myriad of information they get from friends and well wishers.

However, to get accurate information about these business grants you can rely on the internet you can get a lot of information on the net on small business grants. There are links that can provide you information on government grants and assistance too. These links can also enable you to find the small business grants schemes that are available in your own hometown.

Useful accurate details

There are no direct small business grants that you can get from the federal government. However, there are state development agencies which can offer you some direct small business grants. There are also other types of financial assistance which is provided in order to encourage and also to assist the entrepreneurs to start or to expand small businesses.

Some useful links

You get to have an access to a list of links to each state’s economic development agency sites. So, when you have time, you can go through the links to find about the specific financing resources. The federal government through SBA can offer you with a host of attractive loans to start and also to expand a small business. You get to know on the funds and grant that are offered to you from the site.

What is SBA?

SBA is the US small business administration. It has helped and assisted lots of Americans to form small businesses. At the present scenario, the SBA offices in each and every state provide and assist you with information on financing, planning, and training and also on advocacy for the small firms. In addition to this, SBA also works with many people with right to lending, training and educational institutions throughout the nation.

Financing your business

There are a lot of sources which can help you locate some sources of small business finance from the federal government. You get to see the small business grants and loans on such site. There are also offer of small business guide to the government grants and loans on the site for you. You get to know how to get the government loans, venture capital and grants for your small business.

Innovation grants for green technologies

There is also innovation of grants for the green technology development on the site which you get to preview. Through this link, you get to know about the financial assistance for small businesses that can develop green technologies.

Are small businesses worth for getting the grant from the government?

In America, there are around 25 million of small businesses that employ around fifty percent of private work force. Such business can generate more than half of the country’s gross domestic product. This way, such small businesses are the principal source of new jobs in the economy of US.

Can SBA help a person for the grant facility?

Of course, if one’s business is at present or will be owned independently and also operated, the SBA can help that person. Also, if the business is not dominant in the field and meets all the business size standards that are required, then also the SBA can help the person for the grant.

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