Full access to Entrepreneur for $5
Subscribe

Where's the Grant Money?

Grants are just one option. Consider angel financing in your quest for start-up capital, too.

By
This story appears in the October 2001 issue of HomeOfficeMag.com.

Q: I've looked into several different types of grants, foundations funds, etc., and I don't seem to fit the requirements for any of them. I don't need hundreds of thousands of dollars to get set up, so I keep running into dead-ends. I have spent several hundred dollars on books about grants and the like. I can't even seem to work with the SBA-I just don't have that "little" extra for a microloan. What do you suggest?

A: You're coming to grips with the fact that not only does it take money to make money, but too often it takes money to get money. But we have heard many stories of people who get started with $100 or less. How do they do it? Some take temp work to pay for at least their living expenses while they get underway. Others continue to work a full-time job but unlock an instant stream of cash by reducing the amount withheld for taxes in anticipation of the business loss they expect during their first year. (Do check with a tax professional before doing this, however.) But many others turn to people they know-often relatives or friends-and sometimes to people they do not know well. In other words, an angel.

Continue reading this article -- and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!