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Grants funding- where do I start?
I've been considering a number of options when someone mentioned grants funding to me. I've heard that grants are typically available only to educational groups and nonprofits, but I never considered them as a source of funding. Are there any grants to help get businesses off the ground, or should I just be looking for a SMB loan instead?
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I will have to find the exact URL, but there is something called a Small Business Innovation Research grant which can be up to (I seem to recall) $1,000,000. These are new and "risky" areas of research.
The Cons as I see, time consuming, have to go to grants.gov to file, need a D&B number and other information that can be submitted online but is still time costly. And the decision is also not instant.
The Pros is the additional collaboration and assistance you receive.
There is a small business microloan program that has a two week turnaround. There are conditions, being in business for 2 years and having a finished business plan, and you must put 20% of the requested loan from your own money already into the business to receive a loan.
http://www.sba.gov/mostrequesteditems/index.html
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