PAGE 34 PROGRAM SUCCESS – NOVEMBER 2008
WHEN TURNED DOWN FOR A BUSINESS LOAN , TURN TO A BUSINESS GRANT
Columbus , OH — If you ’ ve applied for a business loan in the last six months , it ’ s a strong possibility that you were denied - even if you have good credit . This is because the current economic times have forced banks to be super cautious towards all loan applicants , even if you appear to be responsible .
This is even worse news for minorities who have always found it difficult to obtain business and personal loans from financial institutions . In this regard , many have turned to business grants as a solution . In 2008 alone , $ 360 billion dollars in grant money was awarded and more than 25 % of that was given to individuals who wanted to start or expand a business .
Golden Child Salon & Spa Michelle Rivers Orlando , Florida November 2008
Though many grant programs have been eliminated or reduced by corporations and government agencies , there are still plenty of opportunities available .
For instance , business grants continue to be awarded from the Small Business Administration , the Department of Commerce , the U . S . Agency for International Development , the U . S . Business and Cooperative Programs , and many more . Even companies such as Miller Brewing Company , Ford Motors , and others are offering business grants through various competitions and contests .
The National Institute of Business Grants ( www . Business-Grants . com ) is encouraging entrepreneurs and small business owners to not give up in their efforts to seek financial support , but just to redirect their search towards business grants .
Helpful Resources Include : www . Grants . gov - a central storehouse for information on over 1,000 grant programs that provides access to billions in annual awards . www . Business-Grants . com - a useful reference to learn about frequently asked questions pertaining to business grants .
When Turned Down for a Business Loan Business Grant Orlando , Florida November 2008
Deacon Eddie Bell Chistian Consultant New York November 2008