The Federal, state and local governments have a wide range of financing programs to help small businesses start and grow their operations. The programs include low-interest loans, venture capital, and scientific and economic development grants. The Federal Government offer grants to programs that fall under the following categories: Agriculture, Arts, Business and Commerce, Community Development, Food and N utrition, Health, Housing, Humanities, Information and Statistics, Law, Justice and Legal Services, Natural Resources, Regional Development, Science and Technology and Social Services.
The Small Business Development Center (SBDC) works with existing and startup small companies to help in every phase of the business cycle, including financing.City of Austin Small Business Development Program offers training and technical assistance to anyone starting, expanding, or managing a small business. They can be reached at OneTexasCenter,1stFloor,505, Barton Springs Rd., Austin, Texas .
Government grants are designed to assist businesses, but usually it? goes to agencies and nonprofit organizations which perform some service for business or benefit business in some way, such as community development in rural area. Online catalog from the U.S. Government contains a listing of all available government grants. You can also find this in printed form in Catalog of Federal Domestic Assistance, Faulk Central Library, Grants Center, 2nd floor .
Different types of business grants are available at banks to small business owners. The major items that most lenders need when you apply for a loan are: legal papers to establish ownership of the business; description and history of the business; resumes of owners and managers of the business; current personal financial statements of owner, partners, officers of the business; business plan; tax returns for the previous three years; current financial statement of the business; list of proposed uses of the loan; list of assets and debts of the company and list of collateral of the company. Qualifying for such loans at a bank may be difficult. The other lending organizations that offer loans to businesses that are not eligible for conventional bank loans are nonprofit organizations.
Nonprofit organization provides credit to small businesses that do not have any current bankruptcies, have either an established (1 year old) business or an alternate source of income, and do not have access to loans from commercial sources. They lend 0-,000 to existing businesses or start-ups.BiGAUSTIN is a nonprofit Community Development Financial Institution (CDFI) that provides training and loans to small businesses, especially minority- and women-owned businesses, in Central Texas. It provides loans up to ,000 to start-ups and up to ,000 for established businesses.
They can be reached at Business Investment Growth, BiGAUSTIN, 1050 East 11th Street Ste 350,Austin ,TX .Capital CDC is the largest, top ranked Certified Development Corporation in Texas providing SBA 504 loans for fixed assets such as land or buildings. CapitalCDC, Wild Basin One, 110 Wild Basin Road, Suite 270,Austin, Texas.
Small Business Grant Source:
Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants. You can find the most comprehensive information on availing of small business grants by visiting this online guide on grants here
Source: http://www.bpppa.com/2011/07/texas-small-business-grants/
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