Small Business Government Grants

Government Assistance and the Economic Dilemma

Due to the recent economic crisis the country has been thrown into a quagmire. In the financial arena the former stalwarts are being toppled with no regard to tradition and history. As a result there is disaster in the business community which results in a domino effect with one company after a nothing shutting down. In fact this is said to be one of the worst economic situations the United States has faced since the Great Depression.

Huge losses have affected many big businesses. Several major car manufacturing companies have had to close down factories which leave thousands in a state of bewilderment and despair. Due to insolvency many small banks have closed. Retailers sell off the last of their dresses and shoes. While sales plummet at department stores, they are soaring at goodwill thrift stores and discount retailers such as Wal-Mart. For many this economic atmosphere seems to be gloomy and bleak.

The country was forced into this situation, but can it rise up again? It is possible for the country to recover? If the answer is yes then the next question to consider is when. Right now it seems uncertain where this country is headed.

Many now talk of government bail-out especially for industries like car manufacturing. How will this process if it happens? How will this action affect the rest of the business industry? If the government helps the ailing trade and industry then will there be an economic boost? If the government can help big businesses then can it also help small businesses?

Small Business Assistance

It isn’t common knowledge among many but the government has a program that has been in place for more than a decade. This program allows owners of small businesses to apply for financial assistance through a loan or grant from the government in a category which they qualify for.

Typically the assistance that a small business requires is to purchase new equipment or machinery in order to help with the expansion of the business. Sometimes a small business may also need help transferring to bigger areas or renovating the ones they are currently using. However, for many small businesses they lack the extra capital required to do this. Therefore, a grant can provide the financial assistance needed.

The format for granting small business grants is nearly the same as other types of grants. You still need to prepare a proposal that contains strong reasoning in order to convince the grant committee that you deserve the grant. You also need to prepare other documents such as permits and financial statements in order to support your business proposal. If you can recommendations or citations from recognized entities this can also provide you with an additional advantage.

Your business should also conform to the standards of the US Small Business Administration for SBA. These standards are also being referred to by the federal government when processing grants. The government typically takes into consideration the number of employees or the revenue the company raises.
Once everything is in order and then papers are passed on all that you have to do is let the approval committee handle the transactions.

A complete list of the details and addresses as to how to go about getting these federal grants is available online by Accessing The Federal Grant Database Today.