Minority business Grants

Do you know something about free minority business Grants?

You belong to a minority and you want to change your future by starting a business? You have a great idea but you need money to make it real? It is a great thing for you to find out that the United States government awards millions of dollars as a grant per year; and yes, for minorities. Grants are generally offered for black people or for women that want to start a business or them already have one but they need money for keeping it.

This type of grants is especially for those that own a business or entrepreneurs. Grants and granted businesses not only help people but they also help the economy of the United States. This type of financial support may be considered as gratitude sign of the government of the United States for business owners that help the country’s economy.

For getting a business grant entrepreneurs are challenged in competitions. The result of those competitions will be the criteria in choosing the businesses that will receive a financial support. If you already have one business but is low budgeted you don’t need to worry that you won’t receive a business grant because grants are being available for poor businesses too. If you just want to make your business bigger this is the type of grant that you need.

Very often black people businesses are receiving money as a grant. You should ask one too if you want to be your own boss and to have your own business. The grants that are given are between $5,000 and $25,000 and they don’t need to be restituted. Even if grants are a great help people don’t apply for them as often as we expected. Less than 5% of the black people entrepreneurs use this grants for their business.

If you are a female that wants financial independence you have to know that this type of grant is your best help. Is estimated that are about $22 billion dollars invested in these grants. Also keep in mind that female businesses have a better success than a male business. Minority women seem to be excellent entrepreneurs. If you are a woman and you need money for your starting business or for expanding your existent one this grant is the perfect help for you.

Business Grants

After you obtain the grant and if you show that your business is big enough and produces enough money you can apply also for a loan an SBA to expand your business even more. Before applying for a grant you need a solid business plan based on a great idea.

The financial plan must include Liabilities and Assets statements, a Loss and a Profit statement but also a budget forecast. You also need to make the proof that you paid you taxes (business taxes and personal ones) three years before. Last but not least are your business credit report and a personal credit report. After you have all those papers filled and done you can apply for a minority grant.