Small Business Grants/SBA Loans

[AlwaysByMySide]

Just wondering if anyone here has managed to get a grant for a start up. I have been putting feelers out in my area for a particular service (that does not exist here), but it would have a start up cost of about $10,000-$20,000 (depending on how many people sign up for it in the beginning).

There looks to be only one grant available for application on the Federal gov't grant website, and my business wouldn't qualify for it. I've got a business plan and projections basically done, and am going to be setting up an appointment with a loan manager at my local credit union in the next couple of weeks, once I fine tune the plan. (So, no, I'm not going into this without having crunched the numbers until they have been crunched into dust!)

Just wondering if anyone has any insight/advice for financing a start up. If I have to, I'll put it all on credit cards. I just don't want to if I don't have to.

[PJsmomma]

When I opened my store, I borrowed some from my sister, put some on credit cards and winged it

There was a local business mentoring program and I was able to get a matching grant. For each dollar I saved, I received $2 towards specific costs--advertising, inventory, equipment, a few other things.

That was awesome! I didn't ever go get loans so I can't help you there. Do you have a SCORE near you? Also sometimes colleges have programs with info for business owners.

[AlwaysByMySide]

Hey, if I have to wing it, I have to wing it. I'm one of those people that once I get an idea in my head, I can't focus on anything else until I've accomplished it.

I didn't even know that something like SCORE existed. I did a search and just sent them an email - thanks for the tip! According to their website, they offer free counseling, and before I approach any banks for loan assistance, I want to make sure my business plan is straight and the numbers work. (I have a marketing degree, but I hated my accounting classes. Me and projections do NOT get along.)

I also sent in an email to our branch of the SBA that deals with just women entrepreneurs, and am waiting to hear back from them.