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The Truth about Grants

Beware the grant fairy!

Be wary of any business that tells you that for a fee they will find you a grant or loan for your business.

Scams abound- we have seen all too many people pay hundreds or thousands of dollars for a listing of resources that they could get for FREE.

Here is the truth as we know it:

ARE THERE GRANTS TO START OR EXPAND MY BUSINESS?

 Unless your business involves the development of new technology or is a non-profit organization, it is difficult or impossible to find a grant to start or expand a small business.  A representative from the Small Business Administration answered a few basic questions on this issue: 

QUESTION:  Are there any grants to start a business?
ANSWER   No. Even though many publications and talk shows publicize grants to small businesses there is only one grant available and that is for research and development for technology based products and services for the government.

Certain types of government grants are available to small businesses. These include the SBA's "Small Business Innovation Research" (SBIR) and "Small Business Technology Transfer" (STTR) grants. More information is aailable on SBA's webite at http://www.sba.gov/aboutsba/sbaprograms/sbir/index.html  Grants from other agencies may also be available for new technologies, inventions, or products.

QUESTION:   Can I get grant money for my small business?
ANSWER:   There is no federal grant money for individual business owners.

 If you are looking for funding for an existing or new for-profit business, you are unlikely to find it. Government grants are generally (though not always) given to non-profit organizations for programs and services that benefit the community or the public at large.

 

Grants to Individuals

Grants to individuals are most often given for educational support (financial aid), the arts, and various types of scientific or other research, although some agencies award grants to individuals for other purposes. Again, good research is the key to finding this information. If you are looking for financial aid to begin or continue your education, there are many other excellent sites on the Internet that contain information on this subject.

Not-for profit organizations can get information from the University of Delaware Center for Research and Service. Their web site contains loads of useful information and links to other resources for non-profits http://www.udel.edu/ncrc/

Updated 12/3/2008 2:01:20 PM | Necarsulmer
The Delaware SBDC, a unit of the University of Delaware’s Office of Economic Innovation and Partnerships (OEIP), is funded in part through a cooperative agreement with the U.S. Small Business Administration (SBA) and the State of Delaware. All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA or the sponsoring agencies. All programs and services are extended to the public on a nondiscriminatory basis. As equal opportunity/affirmative action employers, the SBA, the University of Delaware and the State of Delaware are all committed to assuring equal opportunity to all persons. The University of Delaware is an equal opportunity/affirmative action employer and Title IX institution. For the University’s complete non-discrimination statement, please visit http://www.udel.edu/home/legal-notices/. - powered by Enfold WordPress Theme

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