FINANCE
Continued from page 44
as well as the Community Development category. Depend-
ing on your location within the United States, it’s possible tosquare6Energy
qualify for a grant to economically develop certain areas, andsquare6Environmental Quality
expanding a business in one of these areas can possibly assistsquare6Food and Nutrition
you in qualifying for a business grant for women.square6Health
square6Housing
square6Humanities Free Business Grants
square6Information and Statistics Several free small business grants are provided by the
square6Law, Justice, and Legal Service government for the business-minded person. If you think
square6Natural Resources you have a profitable business or that your business needs
square6Regional Development additional funding for expansion then several free small
square6Science and Technology business grants are available to cater to your financial needs.
square6Social Services & Income Security One of these free small business grants is the program of The
square6Transportation Department of Homeland Security (DHS). This free small
square6Business Grant money business grants program by DHS seeks innovative ideas and
square6Small Business grant money inventions on security-related products. The award for those
square6Grant money for small business who will successfully hurdle the competition is $100,000 for
square6Technology grant money six months to fund research that will prove the scientific,
technical and commercial value of their concept. If DHS
Even though the category of Business and Commerce may approves of their ideas, the companies can expect a two-year
be what appears to have the largest selection of resources for $750,000 free business grants to be spent on making func-
small business grants for women, consider the other cate- tioning stereotype of the product.
gories as well, according to where your business falls. For The DHS free small business grants program is funded by
example, if your business is a restaurant, don’t hesitate to the Small Business Innovation Research. To qualify for this
check the Food and Nutrition category for grants currently free business grants, one must be a U.S.-based company with
available. If your business is a farm, check the Agriculture 500 or fewer employees. Proposals submitted for this free
section. small business grants program should focus on the following
Grants aren’t available for starting or opening a new busi- areas: chemical and biological defense, information technol-
ness, and they also aren’t available for expanding on an exist- ogy and marine security.
ing business. However, business grants for women can offer Other free business grants that you can avail of can prob-
funding for research or development of the business. Many ably be found right in your state. The federal government
grants may not be applicable to your particular business or though, does not as a rule, provide for free business grants.
needs, but there may be funds available for research, educa- But a number of state-run development agencies do provide
tion, or other things needed for you to operate and improve free business grants among other things to those interested in
your business to help you achieve business growth. going into business. These state-run economic development
In general, when considering the options for a business agencies that give free business grants can be found in
grant for women, do your homework and read carefully. Kansas, Nebraska, New Hampshire, New Mexico and Utah.
Look at all grants available that might be related to your par- The rest of the states offer financing, incentives, support and
ticular business. Consider looking into the Business and technical training services to budding entrepreneurs and
Commerce section, of
Grants.gov, as mentioned, and also practicing businessmen alike. The U.S. government’s Small
look into the different categories of grant fundings. Take the Business Administration (SBA) was established in 1953 to
time needed to read the grant qualifications carefully. With address specific business needs. Free business grants are not
any business, check into the Regional Development category, available in Small business Administration but they do offer
valuable assistance from conceptualizing the business to
technical support and training to advices in making the busi-
ness grow. SBA also extends attractive loan packages to peo-
ple who want to start or expand business. SBA can be found
in every state. And it has worked with several non-profit,
lending, educational and training organizations nationwide.
Business is a factor that help spurs the U.S. economy. It pro-
vides employment to people. It provides the much-needed
48 PROFESSIONAL WOMAN’S MULTICULTURAL MAGAZINE
www.professionalwomanmag.com
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