In this article I’ll tell you about Grants Available To Start A Business In Indiana. Financial assistance is the most vital element for the success of any business in Indiana and especially important when you start you own enterprise. Federal, state and local governments in the United States (US) offer grants to businesses in the form of a wide range of financing programs to help them start and grow their operations. These include low-interest loans, venture capital, and business development grants.
Types of grants available
The US government has announced that it will offer $175 billion in business grants for the financial year 2010-11. The government is especially focusing on small businesses and startup firm, as it believes that this segment is the backbone of the US economy. Experts believe that this is a positive sign that the US economy is bouncing back after reeling under the global economic recession for over a year.
The US government has made available many grants and low interest loan programs to stimulate new businesses to set up their operations in Indiana. When you start a business in the US and receive government grants, you can use it for various purposes such as salaries, equipment financing, rent, employee training, free business consultation, legal expenses and infrastructure development, among others.
There are also special grants available for women business entrepreneurs, minorities and those with disability in Indiana.
Grants for small businesses
Small business grants can be easily obtained in Indiana because these businesses are considered to be a vital part of the economy. If you are a startup firm all set to start your business, you should look out for grants in your own state. Small business grants are offered to companies that meet the size and standards that had been set up by the US Small Business Administration (SBA) for most industry verticals.
Although the federal government does not offer small business grants, budding entrepreneurs who are starting their new small business ventures in Indiana can get the funding and other type of financial assistance from state development agencies. Preference is given in your own home state.
Where to look for grants
You should look for government grants on the web portal Grants.gov. On the portal you will come across a number of grant-making agencies where you can get information on the types of grants. There is a Catalog of Federal Domestic Assistance (CFDA), which contains a listing of various Government grants based on the topic areas. You can register and apply for the ones that suit your business needs. Do not miss out to carefully read the section on eligibility requirements which will inform you about qualified to apply for those particular grants.
Remember that most of the government grants are not available throughout the year. You can apply for them only when they are announced by a government agency. The grant announcements are generally published in the Federal Register at a particular time of the year and also posted on the government Agency Websites.
Proper funding often determines the success and failure of a startup business. Therefore, when you start your own venture in Indiana, getting funding in the form of grants is always considered to be a great option to develop and expand your business.