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how to get government grants to start small construction company

Ryan Himmel answered December 21, 2010
URL: http://www.entrepreneur.com/answer/222219
Congratulations on the construction company and your timing. America appears to be slowly crawling out of the recession and new construction is coming back to life.



Many entrepreneurs are very eager to land some free money (i.e. grants) to get the business going.  Unfortunately, getting a small business grant is very difficult, especially if the desired grant is for a for-profit business such as a construction company. Most grants are given to non-profit organizations for programs and services that benefit the community.



If you intend to build construction that fosters community development in low-income housing there might be an opportunity. The first place to check would be grants.gov which lists several different grants. If there is a grant that fits your company's profile it will likely be granted by the US Department of Housing & Urban Development (HUD). Keep in mind that your construction company will need to fulfill several requirements. A construction company that just needs start-up capital probably won't cut it.



If you have difficulty finding a grant that your business is eligible for as I expect, you should consider other funding options. The Small Business Association (SBA) offers loans to startup businesses. You can also try to attain a bank loan.



Good luck with the construction company and helping to rebuild America.

Ryan Himmel, CPA and registered securities analyst, is the founder and CEO of BIDaWIZ.com, a professional network for small businesses and entrepreneurs to obtain trusted advice and services from a team of CPAs, Enrolled Agents, Financial Planners & Tax Attorneys.  His team provides answers to the many finance and tax questions that small businesses encounter every day. Ryan has been quoted in The Wall Street Journal, Forbes, Fox Business and Crain's New York, among other publications. Ryan also regularly contributes to the community with his finance and tax blog.