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My sister is starting a small business and is seeking funding. Anyone have experience and/or advice on seeking and gaining funding (preferably grants), for starting a small woman-owned business? Other types of funding advice welcome also, but grants are preferred.
Many Thanks,
John
Generally speaking, grants are made to non-profit organizations helping people in need and even then the recipient must provide matching funds. Your sister's for-profit enterprise may be eligible for a "grant" in the form of a loan under certain circumstances, such as special needs, being in a particular minority that is underserved, etc.If she owns a home then she may be able to get a loan from her bank. And of course the Small Business Administration offers low interest loans. I suggest she start her research with a "google" for "grants for women-owned businesses." Does she have a solid business plan, track record and her own money to put into it to prove to the funding source that she can pay back what she receives? Has she taken SBA courses? These are considerations. What's important is to have a business perspective and recognize that this is for her benefit and not to benefit mankind, so the options are leveraged accordingly.Good luck.
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Posted in reply to the post by smithers:
Thanks.