What Small Business Grants are Available to Me?
When you are thinking about starting a business the first question you will ask yourself will probably be about money. And why wouldn’t it be? Everyone is always thinking about money. How are we going to pay for this? How are we going to pay for that? These are questions that run through every business owners mind. This is even true if you are an established business owner. It is important to remember, as a new business there are going to be several options available. These options include bank loans, small business grants, and alternative funding providers. But you should also be prepared to be turned down from some sources of funding. Knowing what other options exist is important because of the high possibility of rejection.
Every small business grant will be different just like every bank or financial institution will have different rules. They all have different requirements from their candidates. There are also many different options when it comes to loans vs. advances. Often a loan will be paid back over a set period of time and is regulated by the government. While a cash advance provider is not regulated in the same way. Small business grants are another option for businesses to consider. The best part about grants is most often, they do not have to be paid back. But it is important to remember that even though grants may not have to be paid back they do come with stipulations.
Options for Small Business Grants
If your small business is involved in technology research and development, you may qualify for a federal research grant. This type of grant will require you to meet specific goals and have the potential to commercialize your product in the near future.
There are also many small business grants designed for businesses with specific characteristics. These options include women in business grants, minority business grants, startup grants, etc. Depending on the make-up of your business, you may qualify to apply for some of these special characteristic grants.
Unfortunately, because grants often have no-strings-attached to them, they are highly desirable which means there is a lot of competition surrounding them. That is why many businesses feel that they shouldn’t even bother applying.
If you feel that you do not have the time to apply or you need access to the funding much quicker, have no fear. There are many options to get access to cash quickly. These will, however, come with some commitment from you.
One of the biggest pain points when it comes to applying for grants is the complex application process. If you don’t meet every requirement, you don’t qualify. If you don’t fill out the application exactly to the specifications, you may not be considering. That is why at eBusiness Funding, we have made our application process simple. We have also made our requirements simple to understand. If you have been in business for at least six months and are generating at least $10,000 a month in revenue, you can qualify for a merchant cash advance through us.
The benefits of a merchant cash advance with us are simple!
- Access to Cash Fast
- Less than 24 hours after you apply, we can have your application approved. Just three days later, we can get you the cash you need!
- We will never hold collateral
- We are not a traditional financial institution and have no interest in holding your properties against the funding. But it is important to remember, despite the fact that we do not have collateral against our funding source, you are responsible for paying us back.
- Your business history only needs to be six months old to be considered.
- We are a business that is looking towards your business’ future, not your past, everyone started out at one point.
- Many banks will turn you away if you have a short business history, we aren’t here to do that.
- Seasonality
- We offer our customers a fixed percentage strategy.
- You don’t need to worry about having a specific amount of money ready each month to pay us back.
- We take a daily fixed percentage each day of your credit card sales until the full amount of the advance has been paid back.
- Many seasonal businesses like this option because of their limited cash flow during the off-season.
Do you think a Merchant Cash Advance is the right option for you?
Contact eBusiness Funding now at 305-985-6593 or complete the contact form on this page now.