Saturday, May 26, 2007

Grant Programs For The Already Established For-Profit Business

Grant programs for the already established for-profit business do exist. For instance the Small Business Administration has a grant (not a loan) program that provides up to $100,000 in grant money to test the feasibility of a new product or service idea. What you are proposing would come under the heading of a service idea. If you do manage to get this grant then you are then eligible for the 2nd level of the grant which will entail bringing your service idea to the market.

You will have to prepare a proposal and budget that will have to be submitted. A quote from my notes follows "they favor well researched and well reasoned applications". It has been advised that people that want to apply for this grant research the program's funding priorities - meaning find out what areas they are leaning more towards - to better help them when they submit their application materials. Now some states such as Indiana will match the grant money that you do receive so of course this means that you will get double the grant money

Basically what this means is that you will have to prepare a proposal and budget for what it is you want to do. You can find out more about these grant programs from the SBA's website as well as finding the necessary forms and application forms that you will need to find out.

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