It should be known for you that all of the federal funding options are not available directly from the government. Instead, you will need to approach your state government about the types of funding available. Indeed, small business grants and loans can be used to help you in starting or expanding your work and there are many state agencies that can provide you with the money to achieve this.

How should you have a good starting point?

There are several offices that you should investigate when you are looking for grants. As a matter of fact, you should look for opportunities that are available from special district governments, city governments, and state governments. There are also several public and private institutions that are partnered with the SBA and offer funding options to start up your own empire.

When should it be possible to apply there?

To apply for a small business grants and loans, you must meet the standard sizes that include 100 employees for the whole industries, 28.5 million for general and heavy construction industries, 6 million for service and retail industries, and 0.75 million for industries in agriculture. Almost all governments use these size standards for small businesses.

So, what to do next?

There are 4 main funding options available, which are the microloan, basic 7(a) loan guaranty, 8(a) program, and the CDC or certified development company program. These options are actually provided through companies, institutions, and lenders that are partnered with the SBA as the SBA does not award the money directly.

A very flexible loan that can be used for many general purposes is the Basic 7(a). This program is the first one you should try to apply for a small business funding. It can be tailored specifically to your needs as there are many different variations in this choice.

The CDC option is specifically designed for economic development within the community and is given by non-profit organizations. There is a specific CDC office for geographic locations within the US. The micro loan is a loan of up to $35,000 for non-profit-child-care centers and small businesses. This money is to be used for equipment, furniture, fixtures, inventory and other supplies.

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