A Simple Guide to Small Business Grants in California
You must have several times come across a query that from where the business owner gets money and funds to start their business proposals. Factually, there are varied ways for this that is not possibly to list out even. However, the simplest and easiest approach is by means of small business grants. Below listed are few steps for the same.
- Firstly, you need to look upon for the kind of grant needed by doing some sort of research. You can go with SBDC i.e. Small Business Development Center or SBA i.e. Small Business Association.
- Once you are familiar with the requirements for a specific grant ensure that your business fulfills all of them or else you will be denied easily for not meeting the same.
- Applying online for a grant is considered as the easiest method. Several government funding applications can be availed from SBDC and SBA sites. Online method saves lot of one’s time and effort.
- Finally, comes the last and most important step of filling all the documents. This comprises of making a business plan and a grant proposal.
California is well known as a land of opportunities in case of small businesses, particularly. It provides short as well as long term loans on very simple terms to the businesses, along with incentives to the personal lenders in order to expand the profit to the small business.
There are several loan sources in the state of California. These include Small business loan guarantee program, California capital access program, SBA, Small Business surety, USDA business loans, Energy Innovations, etc. Moreover, you can avail the most widespread data in this regard, if you visit different sites online.
Obtaining a Small Business Grant
Entrepreneurs who wish to start a business or expand an existing one have many alternatives for funding. One possible source they should consider is a grant from the federal government.
It’s important for those seeking assistance in California to realize that the government does not provide direct grants to prospective enterpreneurs or to small businesses. Instead, the funds are distributed to various state and local agencies and foundations, which in turn make them available individually. The local office of the Small Business Administration (SBA) can provide the names of local foundations. Other sources may be listed on the Internet. Information can also be obtained from state and local government offices and from the local chapter of the Chamber of Commerce.
Small business grants that originate from the government are not available to most businesses. Preference will be given to those specializing in certain areas, such as green energy technology. Additionally, a business must show potentional commercial viability to receive assistance. Grants are available through a number of federal agencies, including the Departments Commerce, Energy and Health and Human Services, the Environmental Protection Agency, the National Aeronautics and Space Administration, the National Oceanic and Atmospheric Administration and the National Science Foundation. Still another source of grants is the local business sector of any town or city. Companies may be willing to help individual entrepreneurs if their projects can in some way help a particular community and, in turn, improve the local business climate.
Applying for a government grant can be an arduous process. Diligence and patience are of utmost importance to assure success. It is also important for the person or group seeking assistance to know their goals and understand their specific grant requirements and how the funds will be used. Careful research will be needed to satisfy these needs. The application itself should be filled out carefully and completely. Spelling or grammatical errors can reflect upon the qualifications and sincerity of the applicant. Additionally, the specific business objective should be clearly stated, as well as the dollar amount being sought and how the funding will be put to use. Notarized statements from accountants and experts in the field will help authenticate the request.
The grant request can be done either by a paper application sent via the regular mail or over the Internet, the latter of which is obviously faster. However, it may be easier to send a “snail” mail request to a specific person or office. If the request is successful, a funding opportunity number will be assigned the application by the Central Contractor Registry for future contact purposes. Success in obtaining a grant is never guaranteed, but the chance of success will be greatly enhanced when applicants follow the proper steps.