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The government sets aside millions of dollars as grants for minorities to help this marginalized section of the population.Nearly 275 billion dollars have been earmarked by the administration as federal grants or business loans and a large share of that money is for financing business for minorities here. The government has recognized the need to support entrepreneurs to help develop the community, especially the minority communities. Most federal government grants are reserved for nonprofit organizations and state government projects that work towards community development. Apply Today Business loans and grants!!
There are many people out there who would like to start a venture that will benefit the community as a whole but do not have the capital to start. Taking a loan is also not an option because financial institutions require guarantees and other supporting documents. Financial aid received in the form of a grant is a better alternative as you do not have to return the amount. Grants are mostly given out to fulfill a specific purpose or to satisfy a need.

In these times of an economic recession, it is difficult to find gainful employment, hence the government has come up with a 787 billion dollar stimulus plan to cushion the economy. A large portion of this money will go towards entrepreneurial projects that will create jobs and benefit the community. A good example of such a venture is child day care center, as it will provide employment in the community and will also allow women to look for employment without worrying about child care.

The government has set aside funds as grants for minorities to contribute to their economic well-being. The administration also has The Catalog of Federal Domestic Assistant (CFDA) website which gives details about minority grants and their application procedures. You can also track the status of your grant application on the government grants website with your Funding Opportunity Number (FON) or Catalog of Federal Domestic Assistance (CFDA) number.

The US Small Business Administration (SBA) realizing that minorities don't have access to commercial finance, have made provisions for small business grants and loans to assist these people. The SBA also passes government contracts on to Economically Disadvantaged Women Owned Small Businesses (EDWOSBs) and minorities. SBA also runs a Small Business Investment Company (SBIC) program which provides start-up funds to businesses in return for shares in the company.

The US Department of Commerce has a Minority Business Development Agency (MBDA) which is committed to assist entrepreneurs from the minority communities. They provide assistance and tips on how to start a small business. They support small minority business enterprises (MBE) in drawing up marketing plans, provide technical assistance and financial planning. The MBDA has over 40 business development centers mostly located in areas which have a concentration of minority population and businesses.

There are many government and private grants for small business start-up for women and minorities. You just need to look in the right places, visit your local chamber of commerce, check the government grants website, and organizations like Rotary. The Office of Women's Business Ownership (OWBO) is also a great place to look for assistance.

According to a survey Hispanics are the largest minority group they consist of 15 percent of the population, followed by African-Americans 13 percent and Native Americans 1 percent. The Obama government also enacted the American Recovery and Reinvestment Act of 2009 under which funds are set aside as grants for the next 10 years.

By Indrajit Deshmukh

Source: buzzle.com/articles/small-business-grants-for-minorities.html

Wednesday, 13 June 2012

Small Business Grants For Convicted Felons-Apply Business Grants

Small Business Grants For Convicted Felons-Apply Business Grants
Each year, more than 650,000 inmates are released back into society. Convicted felons have a hard time making the transition back to civilian life and finding work. Many want to start their own business. Fortunately, there are some opportunities to help convicts pursue their entrepreneurial dreams.
Importance of Looking for Non-Government Grants
Convicts are allowed to obtain business licenses and manage a company. However, there are no grants set up to help felons start their own business. Felons should invest their time finding private funding opportunities for their businesses. The Small Business Administration (SBA) claims that felons are treated the same as other citizens, and government grants are not established expressly for helping them.
Prison Entrepreneurship Program
The Prison Entrepreneurship Program was founded in Houston, Tex., in 2004. The mission of the program is to help ambitious felons pursue their entrepreneurial endeavors. Many other prison entrepreneurship programs have been set up since then. These programs do not provide direct capital, but they teach felons how to work with angels and other investors. They also connect felons with MBAs, executives and politicians to obtain the assistance they need. In the process, felons can learn how to make better pitches and where to look for funding.
Angel Investors
Angel investors are interested in investing in companies with a strong future. They look at the character of the entrepreneur. Convicts may be at a disadvantage when applying to an angel, but each angel has his own standards. Angels may be willing to invest in inmates who show ambition, creativity and determination.
Applying for a Grant as a Felon
Felons are at a disadvantage when they apply for grants, but that doesn't preclude them from applying. The most important thing is to come up with a strong business idea and a solid business plan. Convicted felons pursuing grants must demonstrate they have solid entrepreneurial traits and a desire to turn their lives around. Although there is a stigma against felons, they may have a better opportunity convincing others to give them help starting a business than giving them a job.











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