The_Yak asked:
My fiancee and I are exploring the idea of starting our own real estate investing company. We are currently working on a business plan to submit for a business loan or grant. Does anyone have any good resources for finding available business grants from the government for starting a small business in real estate?
My fiancee and I are exploring the idea of starting our own real estate investing company. We are currently working on a business plan to submit for a business loan or grant. Does anyone have any good resources for finding available business grants from the government for starting a small business in real estate?
I know there are plenty of advertisements out there for companies that offer to find applicable grants for a hefty fee. We are not interested in those.
Thanks in advance.
Also, I am a veteran. If you know of any business grants being offered to veterans, please let me know.
2 responses so far ↓
1 nate224us // Jan 18, 2009 at 9:51 pm
yeah stay up late one night and there is a guy that comes on one of those channels sayin he has the biggest book of free money and stuff for grants
2 imisidro // Jan 19, 2009 at 5:11 pm
It is hard to find grants to start a business — even for veterans. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born.
Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) and 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 if you buy books on “how to get grants” or list that supposedly has information on grants — all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business.
Even SBA does NOT give out grants. From the SBA website…
“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 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.
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
For private grants, you may want to check the Foundation Center’s Foundation Grants for Individuals Online. 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.