Where can I find information on small business loans for women (maybe grants even)?
I want to make things on my own and sell them, and maybe if it takes off good hire a seemstress ect… but I need money to buy the materials and tools to make the stuff, basically I need a small business loan or a grant that I would not have to pay back on immediatly or ever. I’m a woman so I know sometimes the government gives special preferences to women trying to start businesses, does anyone have usefull info and links?? Thanks!
http://www.sba.gov
http://www.grants.gov
You can also find assistance at http://www.firstgov.com
The Small Business Administration has an office dedicated to women entrepreneurs – the Office of Women’s Business Entrepreneurship. Here is their webpage on lending programs available to women http://www.sba.gov/womeninbusiness/wlending.html
It is hard to find grants to start a business — even for women and minorities. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business.
Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.
Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html
“The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments.”
Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE’S NONE.
http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show
Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program
Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women’s Business Ownership Assistance that are given to those who will create women’s business center that will train women entrepreneurs
I suggest you read the following books to get ideas of how to finance your business:
Financing Your Small Business http://www.amazon.com/exec/obidos/ASIN/1572484500/powerhomebizguid
Small Business Financing: How and Where To Get It http://www.amazon.com/exec/obidos/ASIN/0808007386/powerhomebizguid
Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing http://www.amazon.com/exec/obidos/ASIN/1580626815/powerhomebizguid
The SBA Loan Book http://www.amazon.com/exec/obidos/ASIN/158062202X/powerhomebizguid
Angel Capital : How to Raise Early-Stage Private Equity Financing http://www.amazon.com/exec/obidos/ASIN/0471690635/powerhomebizguid
Financing Your Small Business (Barron’s Business Library Series) http://www.amazon.com/exec/obidos/ASIN/0764124897/powerhomebizguid
For private grants, you may want to check the Foundation Center’s Foundation Grants for Individuals Online http://gtionline.fdncenter.org . It’s a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for “students, artists, academic researchers, libraries and financial aid offices.” Entrepreneurs are apparently not one of them, so I take it they also don’t have listings of private foundations who give grants to would-be entrepreneurs.
I would start here:
http://www.sba.gov/
Good luck to you!
Grants are very hard and very competitive to get. Small Business Administration can identify a lender that will loan you the money for starting the business, but you will have to pay it back, the Small Business Administration simply guarantees the loan if you default, but you will be expected to pay
check with the small business administration
Also, I’m sure you’ve seen the loud guy on TV with the question mark jacket and the big book, shouting about free money – he’s for real, the book is jam packed full of grants available for all sorts of things -Barnes & Noble carries it in the business section
You will also need to write a business plan – it is a requirement in the grant application process
I would start with the colleges business division and ask them. Some colleges have a small business office on campus and you don’t have to be a student to use their services.
try SBA or SCORE or google search
its a tough market – they are going to want to see abusiness plan first – how much money and what you plan to do with it – how you plan to earn money – what your cash flo will be –
might be easier to start sellign a few items on ebay to test the market – or running small ads.