Obtaining a federal small business grant does not depend on any one factor; rather it is a combination of items along with availability, hard work, and a good grant proposal. Federal small business grants are made available for the promotion of small business growth. They are usually granted on the basis of geographical location, the type of business or social activity, and whether there is a potential to create economic growth.
There are three sources for finding federal small business grants. The U.S. government's grant.gov website is a good place to start. Online you will be able to view federal small business grant opportunities from all federal agencies. The site offers a free sign up for notification of future grant opportunities and as an added bonus has an automated application and approval process.
You can also search the internet for federal small business grants and loans. Be careful though when taking this route. There have been plenty of fraud cases where people are promised free money just for an application. If you come across a website promising to help you find federal small business grants make sure to look and see if they back their product with a money back guarantee or free trial period. Any reputable business will have no problem doing this. If they don't move on.
The last and most important source for identifying federal small business grants is the government's own Catalogue of Federal Domestic Assistance. (CFDA). The CFDA provides a listing of federal small business grants, loans and other types of financial assistance. Grant information is available by category, topic and key words. Eligibility requirements are listed for all grants to determine if you qualify for them.
After you have identified the federal small business grants you wish to apply for you must provide the funding agency with an elaborate and accurate proposal. In this written proposal you need to state your goals and a plan of operation for your business. Furthermore you should be able to come up with a ballpark figure for the amount of money you will need for your activities.
Keep in mind that not all federal small business grants are available throughout the year. That means as an applicant you need to be aware of any deadlines for a federal small business grant you are interested in obtaining. This information is made available to the public when the government agency supplying the federal small business grant makes an announcement of funds in the Federal Register. The Federal Register is published daily.
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