Minorities often find themselves in a situation where the environment makes it harder for them to grow, and develop financially. However, there is good news for them that in the US there are a lot of opportunities to get business grants for minorities to encourage them to involve in the national economic development efforts.
We will not go to lie to you that it is easy to get the minority grant as it is needed diligence, persistence, patience and detail to be able to get it. I have the aforementioned quality combined with the certain know-how then there is big chance you will get the grant. Here we will provide you with the detailed information on steps to acquire the business grants for minorities.
Steps to Get Business Grants for Minorities
- The very first thing to do before you apply for any kind of minority grants is to make sure you have one key ingredient for it: dedication. It seems trivial and cliché but with committed dedication, you will be able to create a proper business plan and stick to it until you reach the success.
- The next step is to check on the federally funded government grants on the official website at www.grants.gov. This site contains hundreds of grants information in detail; look for several grants which you’re eligible for.
- Other places to look for minority grants are the Small business Administration or SBA and your local public library. In SBA office you can get information and guidance related to the business startup and how to get it registered and legalized. You can find the offices in every state or you can also visit their official website on the internet.
- If you are looking for more guidance on how to start your way toward entrepreneurship you can also visit these association and agencies:
- Prosperity partnership(.org)
- National Minority Supply and Diversity Council (NMSDC)
- Minority Business Development Agency (MBDA)
- Minority Enterprise Development Conference
Each one of them has programs to guide US citizens, especially minorities to move out from unemployment or employment toward independent entrepreneurship. The guidance is usually including loans and private sponsorship.
- The next step to get the business grants for minorities is to prepare the necessary documentation in proper order. Well-documented and accountable business and person are very appreciated by agencies and association that funded the minority grant therefore if you already start your business you have to keep saving all the documents and certificates regarding your business such as expenditure notes and tax record. In addition, if you still in the business preparation phase, you have to prepare prior tax records and identification.
- Find the application for minority business grants at the www.business.gov
Persistence and patience, as we mentioned earlier is key to get the business grants for minorities. In the process, you may get rejected in one or two grants because you don’t fulfill all the necessary requirements. However don’t give up, there is thousands of funding option available and with persistence and patience, you will get one of them.
References:
- How to Obtain Minority Business Grants. ehow.com/how_5046936_obtain-minority-business-grants.html#ixzz2MleQiRNu
- Images: businesslineofcredittoday.com
