I am trying to get federal funds to open a large country convenient store. Where can I get an application for this type of business?

Guest Writer
Entrepreneur, Business Planner and Angel Investor
min read
Opinions expressed by Entrepreneur contributors are their own.

Go to your local bank to get an application for a business loan guaranteed by the federal Small Business Administration (SBA). Call first, because not all banks work with the SBA but most do, and the SBA doesn't lend you money directly, just guarantees your loan for the local bank that does lend you the money. The SBA probably won't guarantee more than 70% of the starting costs for your business. If there is somewhere you can just get federal funds to open you business, instead of borrowing from a bank, I don't know about it. You could search the SBA website at www.sba.gov to see what you come up with. I suspect you've seen the TV commercials that say the government gives money away, and they are very optimistic about government programs. They want to sell you a list. They make their money when you buy their lists. Tim

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur