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Small Business Administration Grants & Loans

Discussion in 'Business Operations' started by lujanolawn, Jan 28, 2010.

  1. lujanolawn

    lujanolawn LawnSite Member
    Messages: 2

    Has anyone ever received a federal grant or loan through the SBA or other federal or state agencies to start or expand their business ?
  2. glaciator

    glaciator LawnSite Member
    Messages: 66

    Nope, but Obama just talked about it in Tampa this morning. Approach your SBA and ask for a consultation...it's free. Ask about the procedure. The loan is underwritten by the SBA, but is still through local banks who usually want some sort of collateral...property, new vehicles, etc.
  3. Glenn Lawn Care

    Glenn Lawn Care LawnSite Silver Member
    Messages: 2,645

    did he talk about grants at all. i dont need any more loans. im trying to stay debt free for a while!
  4. glaciator

    glaciator LawnSite Member
    Messages: 66

    I think some grants are there, but I bet they are tied to hiring a certain number of employees. Best thing...make an appt. with your SBA...That IS free! And do share info when you know. My guess is that grants are very hard to come by and have so many caveats and restrictions that they will only fit a few business models. Are you a minority woman business owner? That probably helps!
  5. bohiaa

    bohiaa LawnSite Fanatic
    Messages: 5,220

    There's NO SUCH THING.....
  6. echeandia

    echeandia LawnSite Bronze Member
    Messages: 1,131

    The SBA can direct you to banks that make SBA backed loans. Call the office that is closest to you. There web site is http://sba.gov/
  7. lawnangel1

    lawnangel1 LawnSite Senior Member
    from KY
    Messages: 601

    I nor anyone I know has ever had any kind of success with the sba securing or even helping with a loan. Total waste of time unless you are a minority with TONS of collateral.
  8. echeandia

    echeandia LawnSite Bronze Member
    Messages: 1,131

    What are you talking about? I secured an SBA loan with no collateral except the equipment I bought with most of the money.
  9. LouisianaLawnboy

    LouisianaLawnboy LawnSite Silver Member
    Messages: 2,199

    I have been told about 6 months ago that they were NO grants, but maybe a loan(which I don't need). They paid about half of my training at local QB Pro Adviser(well worth the money IMO)
  10. tinman

    tinman LawnSite Bronze Member
    from ga
    Messages: 1,346

    No grants from what I remember. Easier to just go to local bank and get signature loan if you can. Best to avoid debt like you mentioned though. Try to imagine a loan as an impossibility and find other ways to get the new stuff you need. Good luck

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