Nearly 275 billion dollars happen to be earmarked by the administration as federal grants and a sizable share of that money is for small business funding for minorities. The government has recognized the need to aid entrepreneurs to help develop the community, especially the group communities. Most federal government grants are reserved for non profit organizations and state projects that work towards community development.
There are many people out there who want to start a venture that will benefit the community in general but do not have the capital to start. Going for a loan is also not an option because financial institutions require guarantees along with other supporting documents. Financial aid received in the form of a grant is a better alternative as you don't have to return the amount. Grants are mostly given out to satisfy a specific purpose or to satisfy a need. Government small company grants for minorities are given to support this marginalized area.
Minority Small Business Grants
In these times of a good economic recession, it is difficult to find gainful work, hence the government has come up with a 787 billion dollar stimulus intend to cushion the economy. A large portion of this money goes towards entrepreneurial projects that will create jobs and benefit the city. A good example of such a venture is kid day care center, as it will provide employment locally and will also allow women to look for work without worrying about child care.
The government has put aside funds as small business grants for minorities to bring about their economic well-being. The administration also has The Catalog of Federal Domestic Assistant (CFDA) website which provides details about minority grants and their application procedures. You may also track the status of your grant application on the federal government grants website with your Funding Opportunity Number (FON) or even Catalog of Federal Domestic Assistance (CFDA) number.
The US Small Business Administration (SBA) realizing that minorities don't get access to commercial finance, have made provisions for small business grants and loans to help these people. The SBA also passes government contracts onto Economically Disadvantaged Women Owned Small Businesses (EDWOSBs) and minorities. SBA also runs a small company Investment Company (SBIC) program which provides start up funds to businesses in substitution for shares in the company.
The US Department of Commerce includes a Minority Business Development Agency (MBDA) which is committed to help entrepreneurs from the minority communities. They provide assistance and tips about how to start a small business. They support small minority businesses (MBE) in drawing up marketing plans, provide technical help and financial planning. The MBDA has over 40 business development centers mostly positioned in areas which have a concentration of minority population as well as businesses.
There are many government and private grants for small company start up for women and minorities. You just have to look in the right places, visit your local step of commerce, check the government grants website, and businesses like Rotary. The Office of Women's Business Ownership (OWBO) is also a great place to consider small business grants for minority women.
According to a survey Hispanics would be the largest minority group they consist of 15 percent from the population, followed by African Americans 13 percent and Indigenous Americans 1 percent. The Obama government also enacted the American Recovery as well as Reinvestment Act of 2009 under which funds are put aside as small business grants for minorities for the next ten years.
There are many people out there who want to start a venture that will benefit the community in general but do not have the capital to start. Going for a loan is also not an option because financial institutions require guarantees along with other supporting documents. Financial aid received in the form of a grant is a better alternative as you don't have to return the amount. Grants are mostly given out to satisfy a specific purpose or to satisfy a need. Government small company grants for minorities are given to support this marginalized area.
Minority Small Business Grants
In these times of a good economic recession, it is difficult to find gainful work, hence the government has come up with a 787 billion dollar stimulus intend to cushion the economy. A large portion of this money goes towards entrepreneurial projects that will create jobs and benefit the city. A good example of such a venture is kid day care center, as it will provide employment locally and will also allow women to look for work without worrying about child care.
The government has put aside funds as small business grants for minorities to bring about their economic well-being. The administration also has The Catalog of Federal Domestic Assistant (CFDA) website which provides details about minority grants and their application procedures. You may also track the status of your grant application on the federal government grants website with your Funding Opportunity Number (FON) or even Catalog of Federal Domestic Assistance (CFDA) number.
The US Small Business Administration (SBA) realizing that minorities don't get access to commercial finance, have made provisions for small business grants and loans to help these people. The SBA also passes government contracts onto Economically Disadvantaged Women Owned Small Businesses (EDWOSBs) and minorities. SBA also runs a small company Investment Company (SBIC) program which provides start up funds to businesses in substitution for shares in the company.
The US Department of Commerce includes a Minority Business Development Agency (MBDA) which is committed to help entrepreneurs from the minority communities. They provide assistance and tips about how to start a small business. They support small minority businesses (MBE) in drawing up marketing plans, provide technical help and financial planning. The MBDA has over 40 business development centers mostly positioned in areas which have a concentration of minority population as well as businesses.
There are many government and private grants for small company start up for women and minorities. You just have to look in the right places, visit your local step of commerce, check the government grants website, and businesses like Rotary. The Office of Women's Business Ownership (OWBO) is also a great place to consider small business grants for minority women.
According to a survey Hispanics would be the largest minority group they consist of 15 percent from the population, followed by African Americans 13 percent and Indigenous Americans 1 percent. The Obama government also enacted the American Recovery as well as Reinvestment Act of 2009 under which funds are put aside as small business grants for minorities for the next ten years.