FedBizOpps.Gov – There’s a type of federal business loans that small business owners and entrepreneurs can receive that provide free money that never has to be paid back. While there are outstanding loan programs that will offer low interest rates, small business grants give the money you need to you with no expectation that you will ever repay.
The difference is that federal business loans can provide you with all of the money you need to start up or expand your business. Small business grants from the government, on the other hand, tend to be given away for $20,000 – $50,000. Chances are when you obtain government grants for small businesses, you’ll also need to find additional financing to reach your financial needs.
There are numerous grant programs that you can apply for, regardless if you are just in the planning stage of starting your business or are looking to expand. While these alternatives to government business loans are available for any American citizen over 18 years old to apply for, you may be surprised to see that there are also hundreds of private foundation grants that will provide you with the financing you need as well.