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The Free Money for Business Start Ups Ledgend

The Free Money for Business Start Ups Ledgend

If you have never heard this old saying before turn on the old memory chip, "There Ain't No Such Thing As A Free Lunch__  Tanstaafl."  If something sounds too good to be true it not only probably is I can guarantee you it is!  Our government only gives away money to foreign interests with whom they feel they can buy loyalty or concessions - not to their citizens.  While it may be true that some state governments have policies in place to help people such as veterans, minorities or people with disabilities those special programs have very specific requirements that you have to meet before you are eligible.  If someone claims otherwise, especially if they want to charge you a fee for a 'list of lenders and free grant providers' run do not walk away from them!

The Small Business Administration has millions of dollars of money available to loan directly to small business

The SBA is an independent agency of the executive branch of the federal government, and as discussed previously the government is not in the habit of giving anything away.  That includes loans, believe it or not!  The SBA is a great resource for small businesses, and does act as a guarantor for one of three different loan programs that can be of use to the small business owner, but they themselves do not provide or arrange for the loans. 

The three loans they act as guarantors for include the Seven-A (7a), the Five-O-Four (504) and the Seven-M (7m) or "micro-loan" as it is known.  Some details about these different loans which the SBA will guarantee and oversee compliance with for small businesses follow for your benefit:

"  The 7(a) program is a flexible lending program which allows qualified small businesses to obtain financing in certain instances if they have been turned down through traditional channels.

" The 504 loan helps small businesses with fixed-rate, long-term financing for equipment, property or machinery needed for expansion or modernization.

" The  7(m) program aimed at both small business and not-for-profit child-care centers provides short-term financing for working capital and the purchase of inventory, supplies, furniture, fixtures, machinery and equipment.

What the SBA does in these types on situations is to help arrange financing through various lending partners including local banks and nonprofit corporations and to oversee compliance on the part of the small business with the loan terms, thus assuring to the lenders that the loan will be repaid.

People are lining up to loan money to startup companies

Venture capitalists DO exist, and while in some cases they have been known to finance startup companies that is not what they principally do, nor would it be wise to do so. Since a venture capitalist entire purpose of investing into a company is to make money and more than half of the startup companies created every year go belly-up just leaving that money in the bank earning 5% would do a better job them financing startup companies hand-over fist. 

One of the rules of thumb that investors use is that a good three year track record needs to be in place to start.

 Every year, the government--local, state, and federal--gives away millions of dollars to people just like you for business ideas. Leon Edward shares information on government funding, Federal, State ,Local Grants , where to find start up business grants, sources, how best to fill out applications, grant management step by step tips, setting up a business steps at his website

Learn where to find money for funding starting a business, grant sources, grant programs. Our onsite free information will walk you through step by step setting up a business as research required , business types, business plan, start up costs, business liscence, taxes, funding. Grant Programs and sources include Government Grant Money as Federal grants, State grants , Local grants, Federal assistance, grants.gov and Development Offices. Learn the Business Grants Step Management and 'know how' to spend your time, proposed business clarity, know your business needs, know how to avoid sccams. Learn online step by step How To Write A Grant Application including how to write a business proposal, the summary, grant justification, project description, budge, qualification proof, outsourcing if needed.

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