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Return To Scholarships Article Archive   Search the Article Archives Minority Small Business Grants - Questions and Answers By Shawn Pronger This article is a summary of a conversation I recently had with a young African-American woman, named Jennifer, who wanted to learn more about minority small business grants. She had a great idea for her own business, but she didn't have any money to get it off the ground. She had tried to take out a loan from the bank, but they said her credit score was too low. Her credit cards were all maxed out and none of her friends had the kind of money she needed. She was about to give up when I suggested she look into a minority business grant. She had a lot of questions: Q - What exactly is a minority small business grant? A - Well, a grant is a form of financial assistance that doesnt have to be paid back like a loan would. If you meet the eligibility requirements, you can receive financial assistance through the grant. There are grants for all sorts of purposes, but this particular type is pretty self-explanatory. A minority small business grant is a grant that is awarded to someone who is a minority and needs the money to start or expand a small business. Q - Who awards minority small business grants? A - Both the federal and state governments award minority business grants, as do many private institutions. Q - How do I know if Im eligible? A - There are literally thousands of different grant programs available and billions of dollars are awarded every year. Almost everyone is eligible for one type of grant or another. Q - Can the Small Business Administration (SBA) help me find a grant? A - They might, but it depends on how skilled and experienced they are in dealing with grant requests. Most government-awarded grants go to non-profit organizations. Very few are reserved for helping small businesses. The majority of minority small business grants come from private foundations and corporations. For this reason, the SBA may not be the best source when it comes to grants. Q - So where do I start my search for a minority small business grant? A - Right on the web. Several websites offer detailed Grant Directories that list thousands of active grant programs from both the government and the private sector. They all charge a small, one-time fee to access the list. But its obviously worth it because youll save yourself hours and hours of work in your search for a minority small business grant. About the Author: By far, the best Grant Directory Ive found is called Uncle Sams Money. Its the most complete and regularly updated directory anywhere, and it will help you find the business grant you need. To start searching their directory for minority small business grants visit their site at http://www.topratedproducts.info/go-grants Apply For A Free Grant Online

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