Applying For Small Business Grants

Every year, there are many federal grants that are issued, which cater for very many purposes. Among them are federal business grants that are really available all the time. There are also grants that cater for educational purposes and even those taking care of the needs of minority groups.

Although there are literally hundreds of grants that are issued every year, there are actually many more applications that are rejected for various reasons. This is because there are millions of applications that are submitted every year and stringent rules have to be followed.

There are basically two types of grants, namely, free grants that are not repaid and loan-type grants that are paid back with interest. Both of these grants have two main sources of funds. Large corporations have done their calculations and have come to the conclusion that they will actually save when they make donations that go towards establishing foundations. This is because foundations are not required to pay taxes. Elected officials also give donations that act as incentives that make people to vote for them again and again thus ensuring that they retain their offices.

The federal grants are available to every US citizen who has reached the age of 18 years. One big advantage of federal grants is that you do not need to have collateral or go through rigorous credit checks in order to apply and receive them.

Although there are hundreds of grants that are awarded every year, there are actually very few that cater for private, profit-making businesses. You can therefore also apply for several other groups that offer grants. Such grant programs include the Ford Foundation, which has a category known as Other Program Related Investments. The program funds projects that are geared towards philanthropic causes. The foundation states that it awards grants to individuals whose proposals clearly show an advancement of the foundation's program objectives. The selections come from results of competitions that are announced publicly. They also come from nominations done by universities as well as other non-profit groups.

The federal government is required by law to distribute a given amount of grants every year. Federal business grants will give you the opportunity of establishing your business without going through the myriad of complications you are likely to face when applying for a loan. For example, there will be no need of digging a great deal of your credit history. And in addition, most of these grants are not paid back.

These great advantages require that you take great measures to write a detailed proposal that makes good sense. You should have a good business plan as well. Take the opportunity to benefit from what you had previously put into the government without having to pay any tax.

PCCI to guarantee bank loans

The Philippine Chamber of Commerce and Industry (PCCI) will set up a P500-million fund this year to guarantee bank loans to small enterprises and thus encourage lending to these fledgling businesses, the groups chairman Sergio R. Ortiz-Luis, Jr. said on Friday.

Senate Republicans Block Small Business-Lending Bill Sought by Democrats

Senate Republicans blocked a measure that would cut taxes and ease credit for small businesses, saying they objected that Democrats refused to consider their amendments to extend expiring tax breaks.

Republicans Block Small-Business Lending Measure

Senate Republicans blocked a measure that would cut taxes and ease credit for small businesses, saying they objected that Democrats refused to consider their amendments to extend tax breaks and cap federal spending.

Snowe rips Democrats for delaying lending plan for small business

AUGUSTA -- U.S. Sen. Olympia Snowe blasted Democratic leadership on the Senate floor Thursday, accusing them of delaying a small business lending package just to score political points.

SMALL BUSINESS: It makes small-business sense to improve your credit

Weekly Small Business column by Rhonda Abrams