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Business Start Up Grants
Building business credit is important for business owners
. Business start up grants can help you transition your company from dream to reality and then move your business from beginning to success.The Small Business Administration (SBA) is a great resource for small business owners. They provide loans to businesses at little or no interest, offer counseling services, help to build your business plan and give business owners the chance to get their companies on sturdy ground. However, they do not offer grants to start or expand businesses so finding a good source of business grants without paying an expert to do it for you can be difficult. The good news is there is somewhere that specializes in these type of business start up grants. The Small Business Investment Company (SBIC) program has provided over 90,000 small businesses with nearly $30 billion in funding since 1958.
There are about 450 SBICs nationwide representing unique successful partnerships between the federal government and private investors. Each SBIC is licensed and regulated by the SBA but is privately owned and managed and provides venture capital and start up funding to small businesses. Some of Americas most impressive businesses started with seed money from SBICs. American Online, Callaway Golf, Federal Express, Apple Computer, Gymboree, Outback Steakhouse, Staples and Sports Authority all benefited from a grant at some point in the beginning years of their businesses and look how successful all have become since. The SBA will match these funds. For every dollar of private funding, businesses are eligible for another two dollars in SBA funding. This investment has boosted many businesses into success over the years.
Each SBIC, since managed privately, is free to define its area of interest. Some specialize in industries, geographic areas or even personal interests. Fund managers determine where they want to specialize and while all SBICs will consider applications from socially and disadvantaged business owners, these specialized SBICs make all their investments within their area of specialization. Corporate credit sources that help small businesses start building credit right away will make it much easier for individuals to obtain loans and grants that could potentially catapult growth and success. Alternative loans for businesses which will help them grow without the business owner having to undergo the myriad of credit checks required by banks are also available through help from family and friends or from online funding sources. There are loans for bad credit as well as investors interested in taking a good idea and making it happen.
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