Dmort Business Solution

Finding the capital to start up and sustain a small business enterprise can be difficult. In addition to funding problems, many individuals lack the business know-how to sustain their business once it’s up and running.

There are a range of grant programs designed to support people make their entrepreneurial ideas a reality. Some of these programs are tailored toward particular social groups, while others are available to anyone with a viable business plan.

McCormack Foundation
The McCormack Foundation was set up to assist veterans who wish to reintegrate into civilian work roles by starting their own business. The McCormack Foundation strives to support returning veterans by helping them overcome the challenges they face adapting to civilian life.

It also works to increase awareness of the skills and values veterans can give to business organizations and individual communities. Grants funding from the McCormack Foundation covers a range of areas including mental health, legal problems and job and career development.

Funds acquired in the latter category can be used to finance business start-up costs or cover maintenance expenses for an existing business. To be eligible for assistance, a veteran must show financial need and submit business details to the McCormack Foundation.

NASBIC Grants
Small business entrepreneurs can apply for financial assistance to the National Association of Small Business Investment Companies (NASBIC). The NASBIC is made up of capitalists and business owners who offer financial support to small business enterprise across the United States.

Financial assistance is available in a range of categories including financial grants, investment agreements and corporate gifts such as office equipment and other business materials. According the NASBIC web site, small businesses with a net worth of below $18 million and an average post-tax income of below $6 million qualify for assistance.

Applicants who feel they may be eligible for assistance should submit an outline of their business model, any fixed assets, marketing information and a financial statement for the preceding tax year.

SBIR and STTR Grants
Individuals trying to get their business up and running can apply for a Small Business Innovation Research (SBIR) grant or a Small Business Technology Transfer (SSTR) GRANT. These grants are aimed at profit-orientated enterprises that are focused on researching and developing cutting-edge technology.

SBIR grants are issued across a range of industries including human services, energy efficiency, agricultural machinery and engineering. The SBIR program is administered by the U.S. Small Business Administrations, who issue funding through eleven different federal departments, as stated on the SBIR web site.

STTR funds are channel through five federal departments. Due to the range and accessibility of funds through both programs, the application process is highly competitive. Eligible candidates should ensure they outline their business plan in detail before submitting their application.

Possibility Related Posts:

• Financial Grants for New Businesses