For any convicted felons, life is really challenging and different after completion of the imprisonment. They have to deal with social obscurity as well the financial problems too, which are other shortcomings of re-entering the society after spending time with legal with the basic problems. No matter what, there are ways to overcome emotional and social stress, but dealing with financial issues need additional support and assistance.
Yes, it is important to note that those who have faced criminal charges and been convicted do not have to give up hope while re-entering. You may not have money to manage everyday expenses, but there are grants that help to overcome all financial issues and start your own business.
There are various government and non-profit organization that provides business grants for convicted felons for new startups. However, these government grants for convicted felons do not grow on trees. You have to do some research work and find the best resources to fund a new business. Let’s have a quick look!
10 Best Business Grants for Ex-Felons to Establish a New Set-up
Your Correctional Facility
If you are about to complete your imprisonment, then search for an organization that offers free job skill training for inmates without any cost. Many correctional facilities work deliberately to improve the lifestyle of the incarcerated felons by providing training and counseling. Take for example; you will come to know about the different functionalities of Microsoft Office or learn the culinary arts course. Take advantage of this facility to learn new skills, so that it can help you in starting a new business outside.
There are several programs run by state and local government to help the convicted felons with a start-up business. You need to do little homework to search and locate them for your own well-being. Some of the simplest resources for government grants for convicted felons are
- State Government website and offices
- Federal Government website and offices
- Local Government organization or offices
- Religious organizations
- State and local economic development agencies and organization
These are some of the best places to start your search. For sure, you can find an option that can match exactly to your needs.
This is a website created for helping convicted felons. HelpForFelons.org focuses mainly on felon’s re-entry program into society. They are not into providing financial assistance or funding a start-up business. However, the organization can offer tips and suggestions to start a new business. You can take assistance for legal work associated with a startup program or take an education loan for convicted felons.
If you want to know more, visit the website address. There you will get all information about the application procedure and how to take advantage of it.
Inmates to Entrepreneurs
This is one of the best non-profit organizations which is funded by Sageworks; here you can reach for any educational help to start a new business. Inmates who have already completed their imprisonment period can collect all information about a start-up business. There are resources like online videos, webinars, and other information. You might even get in touch with local groups and arrange seminars or carry an in-person meeting. Inmates to Entrepreneurs can help you become productive participants in society.
Federal Education Loans and Business Grants for Felons
Are you interested in accounting? Would you like to start your career in the same? Or, graphic designing, HVAC technician or other technical skills, you think to be the cornerstone for starting a new business? You can join any school for complete training or certification. However, you need to manage the fees on your own, since the school will not provide any grant for ex-felons.
Fortunately, you can get Pell Grants or federal student loans to finance to go back to school. Being a felon does not disqualify you; financial shortage can. Collect all information about federal education loans and business grants before you start a business.
This website offers government grants for convicted felons and others, who are eligible for the criterion. You can get loans and financial assistance for starting a new business. However, the institution does not permit loans for any profit-making business for felons. Think and search in a different way.
Instead of business loans, apply for grants for handcrafted products, terra cotta items, free skill-training programs, and much more. Grants.gov accepts an application for non-profit making businesses only. Find grants for your business ideas. Filter through nationality, skills, heritage, and several other categories that make it easier to pass grants from Grants.gov.
SBA is an institution that offers loans for starting a new business in the USA and abroad. However, getting these loans is not that easy. Rather, you can apply for SBA microloans from the SBA under $50,000. SBA does not directly make loans; the organization works with authenticated lenders and guarantees a part of the loan only. So, on average, you can get $13,000 from SBA for starting your new business.
Do Freelancing Job
Freelancing is the simplest and easiest method to start earning at home. You can easily start your own business at low investment without doing any credit checks or signing any lease memorandum. If you are well-trained to do graphic designing, freelance writing, website designing, or marketing communication, then start your own business from home. There are several companies that welcome freelance entrepreneurs; some of them are Upwork, Freelancer, and Guru. These freelancer marketplaces work independently and serve as an intermediate between client and freelancers. They will handle the payment as well. You can work confidently with all clients around the globe.
This is a personal financing site where you can raise money for your startup idea. GoFundMe is extremely popular among people for raising funds for education, business, medical emergency, or doing charity for any trust. You just create an impressive campaign about your business idea and how you can get benefitted from that. Share it on social media and see the outcomes. GoFundMe can help you raise more than $3 billion for your start-up business. Your ideal solution for getting funds for the business.
Another way to raise money for your idea is crowdfunding. There are several websites that offer crowdfunding services; IndieGoGo is one of them. You can new ideas to life with the IndieGoGo services; the site takes complete care of product management, starting from launching to managing a crowdfunding campaign. They can connect you with the design, prototype creation, and retail partners also. With the best funding service, you can take your product to the market.
These are a few of the best grants for inmates to start a business in your locality. Check out both private and government grants for convicted felons on the internet; you will get a number of options right there.
All convicted felons have the right to spend a neutral living, after paying the debt to society. If you have someone whom you can help, then ask to search thoroughly about government grants and re-entry programs. Tap to the resources online!
PS: For Muslim, please avoid credit cards or loans with the interest rate, it’s RIBA!!