1. Missed the live Ask the Expert event?
    Catch up on the conversation about fertilization strategies for success with the experts at Koch Turf & Ornamental in the Fertilizer Application forum.

    Dismiss Notice

lawn care Grant or loan?

Discussion in 'Business Operations' started by LawnsRUsInc., Jan 29, 2003.

  1. LawnsRUsInc.

    LawnsRUsInc. LawnSite Senior Member
    from midwest
    Messages: 916

    I hear briefly on talk radio this afternoon that george bush raised small business start up loans or grants from $25,000 to $75,000. Anyone know anything about it or if it is agrant or a loan?
  2. IBGreen

    IBGreen LawnSite Senior Member
    Messages: 726

    Forget about a grant unless you're working on a cure for the AIDS virus with it.
  3. I remember something about raising section 179 depreciation allowance from 25K maximum per year 2x or 3x, maybe thats what they were talking about. That wouldn't be a grant or loan though, but a business deduction.
  4. Nebraska

    Nebraska LawnSite Senior Member
    Messages: 525

    Do grants (free money) exist for lawn care? Probably not.

    Loans....The rates are really low for any business looking for a loan.
  5. LawnsRUsInc.

    LawnsRUsInc. LawnSite Senior Member
    from midwest
    Messages: 916

    Ya iam not sure where i can find out info. I think i might keep my eyes glued to the business section.
  6. bubble boy

    bubble boy LawnSite Bronze Member
    Messages: 1,020

    we got lucky. due to cutbacks and some changes in regulations you can't get much here now, but when we started we got a $24 000 grant. course thats here in the land of socialists.
  7. lsylvain

    lsylvain LawnSite Senior Member
    Messages: 779

    Check out your local Small business Association they can help you out.

    The section 179 deduction for 2002 is now $35,000 the forms still say the $24,000 but you can take $35,000 it's in the new directions. You can also take an aditionaly 30% depreciation on the first year you put stuff in service now. Of course unless you spent more than the $35,000 it doesn't really matter.

    As far as the loan/grant thing. I think what they are talking about is that the loan is secured by a government grant so if you defult the investors don't get screwed. Giving you a better interest rate.
  8. bruces

    bruces LawnSite Senior Member
    Messages: 648

    That is for "Liberty Zone" only, that is defined as an area in New York related to 9/11. Generally still limited to 24,000 for 2002 for most of the country.

    Depreciation is complicated, make sure you get good advice and / or do your research if you are doing your tax returns yourself. A link to the IRS publication is


Share This Page