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Small Business Grants for Minorities, Veterans, and Women
Even though rumor has it that grant money is being given away for free every year by the government and other organizations, the truth is that most of these grants come with a variety of requirements and restrictions. Many of these requirements are aimed towards minorities, veterans, and women. There are millions of dollars of grants available to entrepreneurs who want to start their own small business. This money comes from the US government, private organizations, and private institutions. The amount of money that you might be awarded ranges anywhere from $5,000 to hundreds of thousands of dollars. No matter how much grant money youíre awarded, you never have to pay it back.
A common myth is that if youíre part of a minority group, a veteran, or a woman that grant money will just drop into your lap if you want to start a small business. The reality is that even though you fall into one of these categories you still need to be considered for the grant. Throughout the US there are several grant programs which award small sums of money, usually under $2000, minorities, veterans, and women to start a business. Most of these programs come with strict restrictions so that the awarding body can be sure they are helping those people most in need.
Many organizations that hand out grants will focus on assisting certain groups of people. Aiding the economic growth of the US is the ultimate goal of most small business grants as well as aiding the success of minorities, veterans, and women. The objective is to encourage people within these categories to contribute to the economy by starting their own business and providing a unique product or service.
If youíre a minority, veteran, or woman there are some things that you should be aware of when looking for a small business grant. Be cautious of any organizations or individuals who guarantee youíll get a grant simply by paying a small fee. If you have to pay for the grant itís a good indication that the program is a scam. Some scams will offer you a money back guarantee when youíre awarded the grant. Most of these grant offers will have so many conditions on them that it will be very difficult for you to get the grant in the first place. If youíre having difficulty finding the money to start your own business, talk to your city social assistance office or unemployment office to see if you qualify for any small loans. Check out the legitimacy of any grant program that you decide to apply for. Just because a program has locally advertised or has a website doesnít mean that itís a legitimate organization. You could waste a lot of time applying for a small business grant that youíll never get.
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