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?

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
Our Franchise Advisors are here to help you throughout the entire process of building your franchise organization!
  1. Schedule a FREE one-on-one session with a Franchise Advisor
  2. Choose one of our programs that matches your needs, budget, and timeline
  3. Launch your new franchise organization

SAVE on an Entrepreneur Insider Membership

Use code SAVE20 through 9/6/21 to become an annual member for just $49/yr $39/yr. When you do, you’ll enjoy:
  • Full access to Entrepreneur.com, including premium content
  • An ad-free experience
  • A weekly newsletter
  • A 1-year Entrepreneur magazine subscription delivered directly to you
Make sure you’re covered for physical injuries or property damage that occur at work by
  • Providing us with basic information about your business
  • Verifying details about your business with one of our specialists
  • Speaking with an agent who is specifically suited to insure your business

Latest on Entrepreneur