Grants For Minority Women Wanting to Start a Small Business

Grants For Minority Women Wanting to Start a Small Business

Launching a small business can be challenging for anyone in any circumstance. For minority women, it can be even more difficult to get the support and financing it takes to become a success. Luckily, a number of government agencies--state and federal--recognize this, and have created grants and assistance programs available to women and minorities. Although grants aren't necessarily quick and easy to obtain, they can be very helpful to those who are persistent enough to go through the application process.

Minority Business Development Agency

The U.S. Department of Commerce tries to make it easy for women and minorities to access small business grants and assistance. The department's Minority Business Development Agency offers help in a number of ways, including giving grants. 

But even before getting to grant applications, the agency offers business development specialists who will help you develop business plans, write grant proposals, connect you to grants appropriate to your business, help you locate and secure other forms of financing as necessary, and assist you in finding business opportunities offered by the government as well as certain private businesses. You can find these comprehensive services in 40 offices nationwide or by contacting the agency by phone or through the website.

Environmental Protection Agency Grants

An agency that focuses on cleaning up and preventing environmental disasters may not be the obvious choice for minority women to get help building their businesses. However, the EPA allocated special grants for minority and women owned businesses in the fields of construction, equipment, services and supplies. A U.S. Supreme Court decision and presidential order caused the agency to change how they did business to start including more minority suppliers and contractors.

However, because the requirements to be an EPA contractor can require significant capital, the agency gives grants to help minority small businesses meet the standards to work with the EPA. The EPA's Office of Small Disadvantaged Business Utilization administers the grant program.

Small Business Administration

The federal Small Business Administration claims to give more grants to minority businesses than any other source. As its name suggests, the agency is tasked with supporting the development of small business in America. It backs loans for qualifying small business and earmarks grants specifically for minority businesses. The SBA even has an online database of their grants as well as states that offer similar grants.

Visit to - http://business-startupgrants.blogspot.com/
Source - http://smallbusiness.chron.com/grants-minority-women-wanting-start-small-business-2227.html
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Funding Options For Start Up Companies-Free Grants For Small Business

Funding Options For Start Up Companies-Free Grants For Small Business

Many starting out in business don't realize that that there are more than 20 funding sources available to get the money needed to fund a business vision, idea or project. The sources are broken down into two main groups, Bootstrapping and Equity Financing.

Bootstrapping is when you the Entrepreneur decide to go it alone using on the ground resources from personal savings to second mortgages. Equity Financing is when you the Entrepreneur decide to give up a percentage of the ownership of your company in exchange for needed capital.

Bootstrapping Early Sources:

1. Founders' Capital

2. Savings

3. Credit Cards

4. Second Mortgage

5. Venture Leasing

6. Sales Revenue

Bootstrapping Later Sources

1. Lines of Credit

2. SBA Loans

3. Asset Backed Lending / Accounts Receivable Factoring, etc

4. Corporate Strategic Partnerships

5. Banks that Lend To Start-Ups

6. Government Grants (e.g SBIR, DARPA)

7. Company Earnings

Under Equity Financing, depending on the source one may have to give up 25%-75% ownership of the company. This is usually depending on the nature of the deal and what can be negotiated. Under Equity Financing you must also be aware that there are Early and Later Stage Sources.

Equity Financing Early Sources

1. All Bootstrapping Early Sources

2. Friends & Family

3. Angels

4. Angel Groups

5. Early Stage Venture Capital Firms

Equity Financing Later Sources

1. All Bootstrapping Sources

2. Venture Capital Firms

3. Corporate Venture Funds

4. Private Equity Firms

5. Private Placement Firms

6. Mezzanine Financing Firms

7. Investment Banks

8. Public Markets

In order to make a sound financial decision make sure your Business Plan is strong and paints an accurate picture of your business idea or project. Proformas and Valuation of the business must be honest and realistic. Angel investors and Venture Capitalist are only going to back ideas and companies that are going to surrender the safest and strongest (ROI) return on their investment.

Want to learn THE SCIENCE OF MAKING MONEY and how to get Millions of Dollars in Angel Investor & Venture Capital Business Funding for all stages of Funding from a real Financier. Download the brand new free guide here: "Million Dollar Angel Investor & Venture Capital Funding Guide"

DH Roberts teaches a powerful, highly advanced system of making money and getting and using millions in business funding online and offline. An in demand Speaker, Angel Investor and Venture Capitalist he specializes in Funding early stage companies.

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Article Source: http://EzineArticles.com/1182784
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