Growing Your Business
What Government Can Do For You
Various government incentives exist to Help Grow
Federal, state and local governments offer various pro-business programs.
The secret is to find out that an incentive exists, and simply apply for
Grants are the most coveted form of business assistance. Grants are the
closest thing you will ever see that resembles free money.
So long as you follow the essential terms of the grant, there will be no
expectation of repayment. This is not a loan or an investment in your business.
It is simply money to help you get your business going, to help it grow
further, or to expand it in new directions.
The best resource for business-related grants would be the U.S. Small
Business Administration, www.sba.gov.
The SBA, a part of the US Department of Commerce, has all sorts of programs
to assist small businesses. In Illinois, also check with the Illinois Department
of Economic Opportunity, www.illinoisbiz.biz/bus_incentives.html.
Loans are not free money, but the low-interest component
can be a very compelling reason to apply, especially if the rate falls
below todays all-time low interest rates.
The SBAs Microloan program allows for borrowing at $10,000 or less.
Keep in mind, the higher the amount at issue, the more likely there will
be a security (collateral) requirement as a condition of the loan.
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