Starting a small business can be costly. Many small business owners look for grants and low interest loans to help them through the beginning. But not all conventional loans work for small businesses. There are many financial assistance programs designed specifically to help small businesses get started.
A common misconception is there are millions of federal dollars available in grants for small business owners. The U.S. government does not currently offer grants to people starting up a small business. While some state governments do, both state and U.S. governments prefer to invest in small businesses by offering loan programs and financial assistance programs.
State Specific Grant Information
The following link has a list of the 50 states. You can click on your state and it will take you to the economic development agency web site for your state, where you can find information about small business financial assistance particular to your state and small business: http://usgovinfo.about.com/od/smallbusiness/a/stategrants.htm. Each state link offers helpful information about business trends in your state, financial assistance, tips on what to do before starting your business, and so on.
Another helpful web site for small business owners is http://search.business.gov/startLoans.html. This web site allows you to search for business loans, grants and financing specifically for your small business.
Beware of Scammers
There are many companies right now claiming to have information about government grants and unclaimed dollars from the government. These companies may be scamming people. As stated earlier, the U.S. government does not give grants to individuals for small business start up assistance.