| When
Turned Down For A Business Loan, Turn To A Business Grant
Columbus,
OH
-- If you've applied for a business loan in the last six months,
its a strong possibility that you were denied - even if you
have good credit. This is because the current economic times
have forced banks to be super cautious towards all loan applicants,
even if you appear to be responsible.
This
is even worse news for minorities who have always found it
difficult to obtain business and personal loans from financial
institutions. In this regard, many have turned to business
grants as a solution. In 2008 alone, $360 billion dollars
in grant money was awarded and more than 25% of that was given
to individuals who wanted to start or expand a business.
Though many
grant programs have been eliminated or reduced by corporations
and government agencies, there are still plenty of opportunities
available.
For instance,
business grants continue to be awarded from the Small Business
Administration, the Department of Commerce, the U.S. Agency
for International Development, the U.S. Business and Cooperative
Programs, and many more. Even companies such as Miller Brewing
Company, Ford Motors, and others are offering business grants
through various competitions and contests.
The National
Institute of Business Grants (www.BusinessGrants.org)
is encouraging entrepreneurs and small business owners to
not give up in their efforts to seek financial support, but
just to redirect their search towards business grants.
Helpful
Resources Include:
www.Grants.gov
- a central storehouse for information on over 1,000 grant
programs that provides access to billions in annual awards.
www.Business-Grants.org
- a useful reference to learn about frequently asked questions
pertaining to business grants.
www.Business.gov/guides/finance/financing/
- a directory of local and national business financing programs.
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