Has Anyone Heard About Grants For Small Business?

Melissa

We got 2 calls this week from different companies saying that there is billions of dollars of free money available from the government, and that they could apply for a grant for us for the fee of $300. Does this sound legit?

mdshunk

If there were that much money available, let me assure you that you would have already heard about it. For 300 dollars, all you'll get is a stack of government paperwork (that any of us could get for free) to fill out and send in. Save your 300 bucks and pay your men.

tgeb

I would agree, most Government grants are very targeted, you would have to fit into a certain criteria or do a very specific type of work to qualify.
I would think these guys are scam artists.

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slickshift

It's legit, inasmuchas there's grant money out there
But it's not for just anybody, like tgeb says, it's pretty specific
And it's legit to charge for looking for it for you
But yeah, a little leg work on your part will save you the over-priced quasi-legal finder's fee to the possibly technically legal almost scamsters, who very well could find (for $300) that you don't meet any criteria

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You could try to get an SBA loan. I've heard it is a long process and hard to get. But I've also heard that it is much easier if your a "woman" business owner. Here is a link http://app1.sba.gov/faqs/faqindex.cfm?areaID=11

Here is a link to the micoloan section http://www.sba.gov/idc/groups/public...microloans.pdf


But be prepared for LOTS OF PAPERWORK. Anything you do with the government is going to take time and lots of paperwork

PipeGuy

I got an SBA loan in what I thought was a relatively short period of time and with relative ease. A lot of it wll have to do with your credit worthiness and the extent to which you have assetts to put up as collateral. It's also important that you present welll during the application process. Develop a well researched, properly formatted and smartly published business plan. I used Business Plan Pro as a research guide and publishing / word processing application. Develop good resumes for all the business principals (it's important you demonstrate knowledge of and experience in your industry) and prepare properly formatted financial statements for same. Have all that stuff ready when you go in to talk with the loan officer.

At start-up I had both a sizeable SBA term loan as well as a modest SBA guaranteed line of credit. The loans can be had - you just have to run the course well.

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copusbuilder

Sounds a little like the scholarships for college kids. $400 and they give you the list your guidance counseler has
Heck my foreman did it when his daughter graduated? Even when I told him not to.

Mellisa, It sounds like you guys are between a rock and a hard place. I suggest you work to get out of your current position and don't duplicate it again. Look and learn from what you have done.

Nobody here knows your spending habits, if your overpaying subs, have lazy employess????? You are the ones that have to figure it out. Sounds like you guys got a little greedy to me...not an insult just an observation

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Melissa

I appreciate all the advice. Copus, what do you mean by greedy?

Woz the Painter

U.S. Grant died long ago, " who is buried "? in Grant's tomb?

Teetorbilt

I know that everybody relies on credit nowdays but if you can avoid it, don't do it. The bank will eat you alive for the term of your loan.

I've seen it happen way too often.

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copusbuilder

Sorry if I appeared rude.

But why take on more work than you can possibly handle? I believe you have to work in your control? Why would you want to run so many jobs that you cannot possibly handle them?

People will wait if they want you to do their job....Try it you might like it

I have been in your position and will never go back by choice. I learned a lot of things that have shaped my business into being one that "I" have a lot of control over.
It is never a road paved in gold but you can make it one that is not paved in stress.

I am not claiming to be the know it all but what you are doing seems to be backfiring.....Take what you can handle and let the rest fall where they may

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maj

Not sure if I can post on this thread but, VERY WELL said copus.

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MattCoops

yes there are free grants for newer small business
but don't pay anything to fill out some paperwork for them
Also, don't get hopes up, cus they don't give them out to everybody.
Its true if you're a girl you can get easier. But don't have your wife go down there to fill out paperwork.

it's all free for you
so it's worth a shot.

you just have to show that business is legit. Most want to see licensing, insurance info, and last years W2.

Go to your local small business association, or even town hall to inquire more info on it. Some searching on internet may bring up something.

Be sure to have a business plan written up that forecasts the growth of your business in future. I.E. what you are going to do with money; expand business, buy equipment, new vans, advertising, etc.

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Melissa

Why wouldn't you be sure if you could post on this thread Maj? Did you add little ol me to your Ignore List?

Melissa

No, I didn't take it as rude. Right now I'll take any advice I can get!

copusbuilder

It appears you have a lot of business. That is a heck of a lot better than not enough
I grew at a fast pace early on in my business. I tried to satisfy all and keep the crews working. I was doing 80-90 hours a week and the wife and I were cleaning the office toilets on Sundays.....It was almost a marriage ender.. I felt the business was me and took it all personally.

I downsized. I got rid of the "headache" customers, took the jobs I wanted and hoped like all hell it was going to work. I realized I had subs making a heck of a lot more than me because I was happy to get someone to get the job done so I could get a draw.
I have truly never been happier or had more time. I just had to learn that the coats the supply houses give out are only coats, not really the ego that we all have when we earn one

There were times I would discount $500 just to get a payment in so I could pay the guys that were using me for their living and nothing more.

I learned that if you do a good job and treat people fairly they will bend over backwards to accomodate.
You obviously seem to be bringing in the work...Do it to maximize your profits not that of the subs
Don't give up just get back on track....Make a few of the subs wait for payment. They have probably been bleeding you anyway

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maj

I just figured it might be pointless to post anything in regards to you, and once again you proved me right.

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Debookkeeper

Will you two just kiss and make up already!!!!!!

realpurty2

What?? I thought I had the corner market on disagreeing / debating with Maj. Mel...you treading on my turf? lol

Either way, back on topic, if you have to pay money to apply for money, I'm with MD, you could do it for free and cut out the expensive middle man with nothing more than a little research. Stick with the advice here so far, it's all good. (Well, except Maj's of course. )

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Grumpy

Check out this post. http://www.contractortalk.com/showth...ighlight=grant We discussed this a few weeks ago.

Various government agencies give away free money that never needs to be paid back. They usually do this because there is a need for a product or specific service in a specific area. For example I am told by a landscape contractor that the various cities around chicago have been given grants by the federal government to award that monies as grants to private businesses for the sole purpose of beautifying the interstate highways.

Don't hold your breathe thinking you will fnd a grant for a home improvement business. There are too many of us already. However the government has been giving out huge money for rural development. We are talking about building hundreds of homes on an old farm. Is that something you can do? If not stop trying. I hate to be pesemistic but I have been watching the federal grants for a few years now and so far nothing has come up I could even remotely qualify for.

www.grants.gov