If you are looking for help to start or run a buisness, you should have a look at the grants, loans, and other assistance offered by United States government.
There are many types of assistance available for entrepreneurs. I will highlight some of the more popular forms of business-specific assistance available in this section.
Free Help from the Government
Small Business Association Certified Development Company (CDC), a 504 Loan Program
http://sba.gov/financing/sbaloan/cdc504.html
Provides long-term, fixed-rate financing to small businesses to acquire real estate or machinery or equipment for expansion or modernization.
Small Business Association 7(a) Loan Guaranty
http://sba.gov/financing/sbaloan/7a.html
Serves as the SBA’s primary business loan program to help qualified small businesses obtain financing when they might not be eligible for business loans through normal lending channels. It is also the agency’s most flexible business loan program, since financing under this program can be guaranteed for a variety of general business purposes.
Small Business Association Micro loan, a 7(m) Loan Program
http://sba.gov/financing/sbaloan/microloans.html
Provides short-term loans of up to $35,000 to small businesses and not-for-profit child-care centers for working capital or the purchase of inventory, supplies, furniture, fixtures, machinery and/or equipment.
Small Business Association LowDoc (Low Documentation Loan) Program
http://www.sba.gov/financing/lendinvest/lowdoc.html
A loan of up to $150,000 with a response from the SBA within 36 hours of receiving a completed application.
Small Business Investment Company (SBIC) Program
SBICs, licensed by the Small Business Administration, are privately owned and managed investment firms. SBICs provide venture capital to small independent businesses, both new and already established. Small businesses that qualify for assistance from the SBIC program are able to receive equity capital, long-term loans, and expert management assistance.
The SBIC Program provides funding to all types of manufacturing and service industries. Some investment companies specialize in certain fields; others seek out small businesses with new products or services because of their strong growth potential. Most, however, consider a wide variety of investment opportunities.
Providing the same services as SBICs, specialized small business investment companies invest in socially or economically disadvantaged small companies; typically, however, they invest in businesses during their growth stages and make smaller investments.
Small Business Association’s Business Information Centers
The U.S. Small Business Administration’s (SBA) Business Information Centers (BICs) provide a one-stop location where current and future small business owners can receive assistance and advice. BICs combine the latest computer technology, hardware and software, an extensive small business reference library of hard copy books and publications and current management video tapes to help entrepreneurs plan their business, expand an existing business or venture into new business areas. The use of software for a variety of business applications offers clients of all types a means for addressing diverse needs.
In addition to the self-help hardware, software and reference materials, BICs have on-site counseling provided by the Service Corps of Retired Executives (SCORE). These former business men and women lend their expertise and knowledge to assist clients with problems and issues confronting those starting, managing and growing a small business.
As of February 2003, more than 80 BICs are operating in Jonesboro and Pine Bluff AR; Los Angeles, San Diego, Chula Vista, San Francisco and San Jose CA; Denver CO; Hartford CT; Wilmington DE; Washington DC; Jacksonville FL; Atlanta GA; Honolulu, HI; Boise ID; Chicago IL; Indianapolis IN; Keokuk and Waterloo, IA; Louisville KY; Lewiston, Portland and Springvale ME; Baltimore and Cumberland, MD; Boston, Cape Cod, Lawrence, Lynn, Pittsfield, Worcester, Brockton, West Barnstable and Lawrence MA; Flint and Grand Rapids MI; Minneapolis MN; Kansas City MO; Helena, Billings and Bozeman MT; Omaha NE; Las Vegas NV; Nashua, Keene, Bethlehem, Laconia, Springvale and Conway NH; Newark and Camden NJ; Albuquerque NM; Albany NY; Grand Forks and Minot ND; Cleveland OH; Oklahoma City OK; Warm Springs, Grand Ronde, Chiloquin and Portland OR; Pittsburgh PA; Santurce PR; Providence RI; Charleston SC; Rapid City, Sioux Falls and Yankton SD; Nashville, Memphis and Jackson TN; El Paso, Ft. Worth and Houston TX; Salt Lake City and Ogden UT; Burlington VT; Manassas and Richmond VA; Seattle, Spokane, Richland, Auburn and Mt. Vernon WA; Fairmont WV; Casper WY.
To determine if a BIC will be opening in your area, call your local SBA district office or the Office of Business and Community Initiatives at (202) 205-6665.
Service Corps of Retired Executives (SCORE)
SCORE provides entrepreneurs with free, confidential face-to-face and email business counseling. Business counseling and workshops are offered at 389 chapter offices across the country.
Small Business Development Centers (SBDC)
SBDCs offer one-stop assistance to individuals and small businesses by providing a wide variety of information and guidance in central and easily accessible branch locations. SBDCs also use paid consultants, consulting engineers and testing laboratories from the private sector to help clients who need specialized expertise.
The SBDC Program is designed to deliver up-to-date counseling, training and technical assistance in all aspects of small business management. SBDC services include, but are not limited to, assisting small businesses with financial, marketing, production, organization, engineering and technical problems and feasibility studies. Special SBDC programs and economic development activities include international trade assistance, technical assistance, procurement assistance, venture capital formation and rural development.
U.S. Department of Agriculture Rural Business Enterprise Grants
http://www.rurdev.usda.gov/rbs/busp/rbeg.htm
Funds are used for the financing or development of a small and emerging business. Eligible uses are: Technical Assistance (providing assistance for marketing studies, feasibility studies, business plans, training etc.) to small and emerging businesses; purchasing machinery and equipment to lease to a small and emerging business; creating a revolving loan fund (providing partial funding as a loan to a small and emerging business for the purchase of equipment, working capital, or real estate); or construct a building for a business incubator for small and emerging businesses.
U.S. Department of Agriculture Rural Business Opportunity Grants
http://www.rurdev.usda.gov/rbs/busp/rbog.htm
The purpose is to promote sustainable economic development in rural communities with exceptional needs. This is accomplished by making grants to pay costs of providing economic planning for rural communities, technical assistance for rural businesses, or training for rural entrepreneurs or economic development officials.
U.S. Department of Agriculture
U.S. Department of Agriculture Business Loans for Youths
http://www.fsa.usda.gov/dafl/youth%20loans.htm
The USDA makes loans to individual rural youths to establish and operate income-producing projects of modest size in connection with their participation in 4-H clubs, Future Farmers of America, and similar organizations.
Department of Energy Grants for Inventors
http://www.ofee.gov/whats/grants.htm
The Office of Industrial Technologies (OIT) is funding a competitive grant program entitled the Inventions and Innovation (I&I) Program. The goals of the I&I Program are to improve energy efficiency through the promotion of innovative ideas and inventions that have a significant, potential energy impact and a potential, future commercial market.
The I&I Program will provide financial assistance of up to $40,000 for Category 1 and up to $200,000 for Category 2 to applications that fall within the “conceptual” and “developmental” stages of development, respectively. Each award may cover a project period of up to one year for Category 1 and up to two years for Category 2. Eligibility is limited to individuals and small businesses. Up to $2.16 million will be available through the program for FY 2002
Small Business Association Small Business Innovative Research
SBIR is a highly competitive program that encourages small business to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation’s R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.
Each year, ten federal departments and agencies are required by SBIR to reserve a portion of their R&D funds for award to small business.
- Department of Agriculture
- Department of Commerce
- Department of Defense
- Department of Education
- Department of Energy
- Department of Health and Human Services
- Department of Transportation
- Environmental Protection Agency
- National Aeronautics and Space Administration
- National Science Foundation
These agencies designate R&D topics and accept proposals.
Public Telecommunications Facilities Program Grants
http://www.ntia.doc.gov/ptfp/index.htm
PTFP is a competitive grant program to help public broadcasting stations and non-profit organizations construct facilities to bring educational and cultural programs to the American Public using broadcasting and non-broadcasting telecommunications technologies.