How to apply Small Business Grants in Illinois
Illinois is an area that has greatly benefited from the grants offered by the federal government to help in the development of businesses in the area, there are other financial support sources other than the government that can help individuals run their own businesses. The state government grants are the most preferred source of funds since they are much easier to apply and are a friendlier close distance. There are steps that need to be undertaken if one is to succeed in getting a state grant and/or small business grants to start or develop a small business, but this mostly depends on the source chosen.
- The first thing the entrepreneur needs to do is put down their competitive business idea on paper. The idea needs to be competitive since the grants will be allocated to the most viable ideas.
- The second this is to learn all about the guidelines for the loan application such that one is able to meet the demands set by the grantor.
- The third step will be to formally apply for the grants, and then one has to follow through with the processing of the approvals.
There are a number of factors that one needs to know when applying for grants in Illinois and such information comes in quite handy in some cases. Some basic information may include;
- There are several financial resources for the grants, thus it’s always important to get as much information on a grant as possible.
- Some grants can be recalled in the event one is found to have lied in the application process.
- After the approval of a grant to support a business, the proprietor still maintains ownership of the property.
- Federal grants vary in amounts with some being over millions.
It’s crucial that one knows the best people to contact if one is looking to apply for a business grant in Illinois and some of the contacts may include;
Small Business Association
500 W. Madison Street, Suite 1150
Chicago, IL 60661
Boise State University 1910 University Drive Boise, ID 83725-1655
Phone: 1-800-225-3815 (toll-free) or 208-426-1640