Author : Dante Lee

There was a popular American television series that aired on Fox Network from 1997-2002 called “Beyond Belief: Fact or Fiction?” Each episode featured five stories, and viewers were challenged to decide which ones were true and which ones were false They all sounded believable, making it difficult to separate fact from fiction

Separating fact from fiction can be just as difficult for small business owners when it comes to finding legitimate business grants The truth is, business grants are not a myth, but are real The challenge is in finding objective information and reliable sources Consumer Affairs reports that scam artists advertising on the Internet and television are literally taking up to thousands of dollars in fees from unsuspecting consumers who are lured into the promise of free money to start a small business of their own Beware of companies who contact you directly, claiming you have been awarded a grant

The safest way to locate legitimate business grants is to rely on information from authorized sources This includes government, state and local sources:

* Government grants do exist but only for non-profit organizations, as well as lending institutions, state and local governments That means you, as a small business owner, must be engaged in not-for-profit business activities in order to qualify So, don’t be fooled by what you read on the Internet Get the facts on this directly from the U S SBA web site

* Yes, grants at the state level do exist Let’s say, for example, you live in California and own a dry cleaning business If you switched your cleaning solutions to using non-toxic non-smog forming formulas that are water- or CO2-based, you may qualify for a grant up to $10,000 from the state of California This would provide extra cash to invest in your business while at the same time keep you on the cutting edge of technology that is environmentally friendly and might attract more customers who are equally concerned about the future of our environment Similar grants are offered at each state level and are legitimate sources of cash that are real

* At the local level, a good place to find legitimate sources of grant money is the Chamber of Commerce or Better Business Bureau The U S Chamber of Commerce has a list of all credited chambers at on their official web site Accredited chamber members are listed with a star rating system, with five stars being the highest You can also view on this site a complete list of all chambers by searching the Chamber Member Directory By contacting your local chamber, you will be able to find out what local grants might be available, saving you the time and effort of contacting every local major corporation that might also have grants available through their foundations

* And, of course, you can also search The Foundation Center’s web site which provides a directory of over 200 corporate sources of grants Be aware that some corporate foundations will offer business grants not only within their home state but will extend them to surrounding states as well

Yes, business grants are a fact, but do your homework and make sure you have all the facts before making any formal application

The National Institute of Business Grants (www.BusinessGrants.org) is a free online resource for details and FAQs about small business grants and other financing options.

Syndication Source: Thought Search Articles

Filed under: Finance

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