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Minority Grants For Small Businesses

The US Federal Government recognizes the issue of improving disadvantaged people’s lives. Their constituents have voted congressmen and senators to power. Their primary election campaigns are based on the promise to minorities for their economic empowerment. t is these promises, which drive the politics of grant giving by Federal and local State governments.

Grants for Small Business:

A grant is a direct financial contribution made by certain organizations to the needy. It is made for very specific outcomes with no expectations of repayment. These grants are based on certain criteria and are designed to encourage entrepreneurs to start or expand their small business ventures. Millions of dollars in the form of small business grants are available for any minority group of Americans. They may be African Americans, Asian Americans, Hispanics, Indian Americans or any other minority.

Minority Grant Programs:

Government minority business grants are listed on all the government grants assistance programs. They allocate funds for lending to minority entrepreneurs, student business training, unemployed, community-based business opportunities, real-estate ventures and investment, research work and inventors, amongst others. A woman entrepreneur or an ethnic minority is entitled to funds specially earmarked for their business development.

Any entrepreneur seeking the fund for any type of business or any personal project must have a viable business plan. They should focus on how well their business would survive independent of these programs. Eventually, your aim should be to build a successful business. Have some sort of maturation plan in place to succeed without minority funds within three to five years. A lot of far-sightedness, hard work and perception of market need of your business are very important. If your business maturation plan is not in place, you are in a great risk of either business failure or being bought out. A good financial opportunity goes waste. So apply for these minority business grants and funding for a great opportunity to start your own venture and improve your social and financial status.

Types of Grants:

Ever since the Federal government has launched this minority grant for small businesses, the minority business has grown four times faster as overall US firms. Since 1992, the increase has been from 2.1 million to 2.8 million firms. These grants can be availed for:
o For initial business start-up, you can avail up to one billion dollars from minority business grants.

o Grants in millions available for expanding the existing business

o Receive $9,000 in minority grants for free legal advice.

o Millions available for purchase of your first home

o Up to $75,000 available from minority grants to remodel your home

o Receive $6,000 in minority grants for college tuition.

o Receive free monthly grant finances for emergency assistance.

o Receive special assistance for woman entrepreneurship program. There are many more listed priorities to receive these grants.

The federal government and local state government Active Affirmative Action has given a big opportunity to minor ethnic communities to start their small businesses. This will lead to their economic empowerment and social integration.