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I am looking for sources to start a horse health service center in Indiana. I am a disabled female and need assistance in either getting funds to do the research or to purchase land (20 acres) for this business.
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You really have two questions here: one about getting grants to do research and another about getting money for your horse service center. I am going to concentrate on the business side for this request, but many of the sources that I will present below can also help you, too.
Having your own business can be one of the most life changing experiences you will ever have. The great sacrifice and hard work necessary in the beginning will fulfill your life like nothing else. And more importantly entrepreneuring is the surest way to accumulate financial wealth in our society. About 66% of millionaires got that way by having their own business and not by inheriting their money.
It will probably be difficult to get all you need with a grant. It is not impossible. Grants for business are there, but they are hard to come by.
When you are looking for money you should make sure that you investigate every possible source of financial assistance. There are organizations that will lend entrepreneurs money even if they have no money or bad credit.
When you start investigating how to get money for your business ask for "financial assistance programs" instead of "grants." You may be able to apply for venture capital, loans you don't have to pay back or even direct payments. Ninety percent of all free money that the government gives out is not called grants.
Investigate and apply for all financial assistance programs. You never know what they might give you money for. It doesn't hurt to ask. The worst that can happen is that they say "NO."
Also keep in mind that it is always good to have more than one way to get to your goal. I actually believe that when we start on a venture there is no one perfect way to get there and you can't even design the correct path until you get there. We each have to start on the best of the choices that are before us and follow that path until you will see a better path. And I believe that you will see a better path once you start. So, here is where you start:
Members of the Association for Enterprise Opportunity provide free and low-cost assistance and training, as well as financial assistance, to underserved populations who want to start a business including "people with low incomes and welfare recipients". Contact: Association for Enterprise Opportunity, 1601 North Kent Street, Suite 1101, Arlington, VA 22209; 703-841-7760; Fax: 703-841-7748; www.microenterpriseworks.org; Email: firstname.lastname@example.org. To find these organizations in your area go to: http://www.aeoworks.org/index.php/site/page/category/find/
Count Me In makes loans of $500 to $10,000 available to women across the country who have nowhere to turn for their first business loan. The Make Mine a Million Business Program offers mentoring and financing to women business owners; a dream team creates the roadmap businesses need to grow from a micro to a million dollar enterprise. First place winners receive loans up to $45,000 from Count Me In, a year of mentoring from a team of business advisors and an OPEN American Express Business charge card. Runners up receive loans up to $20,000. Contact: Count Me In, 240 Central Park South, Suite 7H, New York, NY 10019; 212-245-1245; www.count-me-in.org; Email: email@example.com
Over 500 programs run by non-profit organizations will give you up to $5 for every $1 you place into a savings account that is used to complete a life goal like education, housing, start a business, or even transportation. They are called Individual Development Accounts and they are designed for people with little money to save. You can make up to $60,000 and still qualify. To find a program near you, contact the IDA Network. Contact:
IDA Network, Corporation for Enterprise Development, 777 N Capitol St NE, Suite 800,
Washington, DC 20002; 202-408-9788; http://cfed.org/programs/idas/
Every state has a number of money programs for people to start or expand a business in their state. Governors compete with other governors to see who can create the most jobs, and that's why they offer money for people who create jobs in their state. You don't even have to be a residence of the state. You can live in one state and put your business in a state that offers you more money. States also offer special money for entrepreneurs to put their business in certain areas of the state or in certain areas of a city. There are also other money programs to build buildings or renovate old buildings. Some of this money comes from federal sources which is given to the states and distributed to entrepreneurs in the state. Other money is generated from local taxes. And some states use the winnings from their lottery money to give to entrepreneurs to create or expand businesses.
Listed below are some of the main programs that are offered.
Indiana Department of Commerce: This office can provide information and expertise in dealing with state, federal, and local agencies. They also have information on financing programs and other services offered by the state government.
Energy and Recycling Office: A wide range of assistance in energy efficiency, alternative energy and recycling market development programs.
Enterprise Advisory Group: Counsels emerging and mature businesses.
Government Marketing Assistance Group: Helps companies that wish to sell to federal, state or local governments.
Office of Regulatory Ombudsman: Acts as a mediator, expediter and problem-solver in areas affecting business.
Trade Show Assistance Program (TSAP): Provides reimbursement for a portion of the costs incurred while companies exhibit their products at overseas trade shows.
Product Development/Commercialization Funding: Provides loans for businesses in need of financing to support research and development projects, or to support commercialization of new technology. Loan amounts vary.
Capital Access Program (CAP): Helps financial institutions lend money to Indiana businesses that don't qualify for loans under conventional lending policies. CAP loans may be of any amount.
Industrial Development Loan Fund: Revolving loans for industrial growth. Loans up to $1 million are available.
Industrial Energy Efficiency Fund: The Energy Policy Division provides loans for improving energy efficiency in industrial processes. The maximum amount available per applicant is $250,000 or 50% of the total eligible project costs, whichever is less.
Loan Guaranty Programs: Financing for land or building acquisition or improvements, structures, machinery, equipment, facilities and working capital. Loan guarantees are available up to $300,000.
Recycling Promotion and Assistance Fund: Loans to enhance the development of markets for recyclable materials.
Small Business Investment Company Program: Long-term and/or venture capital for small firms.
Certified Development Companies: Loans 1% over Treasury-bond rate for 10 to 20 years for financing fixed-assets including; land, buildings, machinery, equipment and renovations.
Industrial Energy Efficiency Fund: The Energy Policy Division provides grants to manufacturers to study energy use in their facilities and recommend ways to reduce energy use and energy costs. Maximum amount available per applicant is $250,000.
Alternative Energy Systems Program: The Energy Policy Division offers grants to businesses to fund eligible alternative-fuel technologies and infrastructure development. The maximum amount available per project is $10,000.
Industrial Development Grant Fund: Grants for non-profits and local units of government for off-site infrastructure projects in support of new business development. The grant amount is determined based on project needs. However, the program is designed to supplement local funding sources.
National Industrial Competitiveness Through Energy, Environment and Economics Grant: The Energy Policy Division has information about Federal grants, with possible state matching funds, to improve energy efficiency, promote a cleaner production process and improve the competitiveness of industry. The maximum amount of federal grant available per applicant is $500,000.
Tire Market Development Research and Prototype Grant Program: Provides grants to support research on new products or machinery for handling scrap tire recycling. Grants range from $5,000 to $50,000.
Tire-Derived Fuel Testing Grant Program: Provides grants to develop fuel uses for scrap tires. Amount based on project needs.
Trade Show Assistance Program (TSAP): Provides reimbursement for a portion of the costs incurred while companies exhibit their products at overseas trade shows. Reimbursement includes 100% of exhibit space rental or $5,000, whichever is less.
Twenty-First Century Scholars Program Support Fund Credit: Credit for contributions to the fund. A maximum credit of the lesser of a) $1,000; b) 50% of the contribution made; or c) 10% of the adjusted gross income tax is available.
Maternity Home Credit: Credit for maternity-home owners who provide a temporary residence for a pregnant woman (women).
Prison Credit: Credit for investments in Indiana prisons to create jobs for prisoners. The amount is limited to 50% of the inventory in a qualified project, plus 25% of the wages paid to the inmates. The maximum credit a taxpayer may claim is $100,000 per year.
Real-Property Abatement Calculation: Real-property abatement is a declining percentage of the increase in assessed value of the improvement based on one of the three following time periods and percentages as determined by the local governing body.
Enterprise Zones: The purpose of the enterprise zone program in the state of Indiana is to stimulate local community and business redevelopment in distressed areas. An enterprise zone may consist of up to three contiguous square miles. There are 18 enterprise zones in Indiana. In order to stimulate reinvestment and create jobs within the zones, businesses located within an enterprise zone are eligible for certain tax benefits. These tax benefits include:
Industrial Recovery Site (Dinosaur Building): Much like the dinosaurs, many large buildings that were once used for mills, foundries and large manufacturers are obsolete for today's new production methods and technologies. Because of this, these buildings now stand vacant. This program offers special tax benefits to offset the cost of adaptive reuse.
Economic Development for a Growing Economy (EDGE): Provides tax credits based on payroll. Individual income tax withholdings for the company's employees can be credited against the company's corporate income tax. Excess withholdings shall be refunded to the company.
Skills Enhancement Fund: Grants are reimbursed up to 50% of eligible training costs. Awards for retraining have a maximum ceiling of $200,000.
The TECH Fund: Training activities for reimbursement resulting in full-time, Indiana-resident employee receiving certification in systems administration, systems engineering, or software development. Up to 50% of eligible training costs with a maximum of $50,000 or $2,500 per employee, whichever is less.
Incumbent Worker Training Fund (IWTF): Incumbent Worker grants are designed to provide financial assistance to companies committed to expanding the skills of their existing workforce. There are no maximum grant amounts; however, funds are limited. Most grants do not exceed $200,000 and there is no minimum.
Skills Trades Apprenticeship (STA): The STA grants are designed to provide financial assistance to companies expanding the skills of their existing workers through training programs that result in industry-recognized credentials. The maximum grant award is $200,000.
Brownsfields Grant and Loan Fund: This grant program assists in the environmental and remediation of brownsfield sites throughout Indiana. Grants of up to $50,000 per applicant per round are available for environmental site assessment; low-interest loans of up to 10% of the Brownsfield Fund are available for remediation/demolition; and grants of up to $250,000 per applicant per round are available for petroleum remediation.
The Distributed Generation Grant Program (DGGP): The Distributed Generation Grant Program offers grants of up to $30,000 or up to 30% of eligible costs and is designed to enable businesses and institutions to install and study alternatives to central generation such as fuel cells, micro turbines, cogeneration, combined heat & power and renewable energy sources.
Indiana Biomass Grant Program: This program was developed to assist in the research and implementation of Indiana biomass energy systems. Biomass is any organic matter available on a renewable basis for conversion to energy. Eligibility for this program is limited to individuals, businesses, universities or institutions that operate in the state of Indiana.
Indiana Coal Research Grant Program: This program was created to assist businesses in undertaking coal research projects and further develop competitive communities with secure jobs in Indiana. Eligible research projects must use Indiana coal or have direct application to Indiana coal for funding consideration.
Waste Tire Recycling-Civil Engineering Field Reuse: Grants for waste tire utilization in an IDEM approved civil engineering reuse project.
Waste Tire Recycling-Recreational Field Reuse: Grants for waste tire utilization in an IDEM approved recreational facility beneficial reuse project.
Contact: Indiana Department of Commerce, One North Capitol, Suite 700, Indianapolis, IN 46204; 800-463-8081 or 317-232-8888; Fax: 317-233-5123; www.in.gov/doc
You can actually get up to $1,000,000 in grants and or loans to open or expand a business from the U.S. Federal Government alone. There are over 100 different money programs available from offices ranging from the U.S. Small Business Administration to the U.S. Department of Agriculture to the U.S. Department of Commerce. For the best source identifying all federal only government money programs available, look at a government published book called The Catalog of Federal Domestic Assistance published by the U.S. Government Printing Office (www.gpo.gov) or look at it for free on the web at www.cfda.gov. Another good starting place to find anything in the federal government is a free service called the Federal Information Center at 1-800-FED-INFO or www.pueblo.gsa.gov/call.
The Indiana Small Business Administration Office delivers a variety of programs and services, such as start-up and operational assistance through small business training and counseling, financial assistance for start-ups, operational and disaster help, business opportunities, such as government contracting, subcontracting, procurement, and much more. For information on how the Small Business Administration programs maybe of help to you contact: Small Business Administration (SBA), Finance Division, 429 N. Pennsylvania, Suite 100, Indianapolis, IN 46204-1873; 317-226-7272; Fax: 317-226-7259; www.sba.gov/in
The government will give you:
The money is in the form of tax credits on your federal and/or your state income taxes. If you are paying any taxes then this is truly free money because it is taken right off your tax bill. To find out about every tax credit at your state level contact your state Department of Revenue by calling 411 and asking for the state capital operator, or go to www.govengine.com and click on your state and start looking for the Department of Revenue. For information on all federal tax credits contact Internal Revenue Service, 202-622-5000 or 800-829-1040 (Business Tax Questions) or go to www.irs.ustreas.gov/formspubs/. You can also turn to the Indiana Development office for help. A good place to start is your State Government Office of Economic Development located in your state capital. Contact you state at: Indiana Economic Development Corporation, 9800 Connecticut Dr., Crown Point, IN 45307; 800-463-8081; Fax: 317-233-5123; http://www.in.gov/iedc/
We cannot emphasize enough the help that is available from your state. We have known people who have gotten $11,000 to start a business at home and $15,000 to finish a degree because they were suffering from low self-esteem. Terri Handshoe got her college education paid for, as well as had an interpreter and books covered during schooling. Sandy Smith got a $3,000 custom designed telephone system which allowed her to work for a major hotel chain. You can receive:
Your state Vocational Rehabilitation offices want to keep you a productive member of society, and they will do what it takes to get you on your way. If you are denied any of these services, you have several places you can turn for help. The first stop is your state Client Assistance Program. They will help you learn your rights and handle the appeal to get you what you need. They can take your appeal process from the first stages, all the way to the U.S. Supreme Court if necessary and it won't cost you a penny. Contact: Director, Department of Human Services, Vocational Rehabilitation Services, Room W453, 402 West Washington St., P.O. Box 7083, Indianapolis, IN 46207-7083; 877-282-0964 (IN only) or 317-232-1319; TDD: 317-232-1427; www.state.in.us/fssa/
Program assistance is provided in many ways, including direct or guaranteed loans, grants, technical assistance, research and educational materials. To accomplish its mission, USDA Rural Development often works in partnership with state, local and tribal governments, as well as rural businesses, cooperatives and non-profit agencies. The Rural Business-Cooperative Service (RBS) provides help to rural areas that need to develop new job opportunities, allowing businesses and cooperatives to remain viable in a changing economy.
Business Program Guaranteed Loans are used to improve, develop, or finance business, industry, and employment, and improve the economic and environmental climate in rural communities, including pollution abatement and control. This objective is achieved through bolstering the existing private credit structure with guarantees of quality loans, which will provide lasting community benefits. This type of assistance is available to businesses located in rural communities with a population of less than 50,000.
Intermediary Relending Program finances business facilities and community development projects in rural communities with a population of less than 25,000. This is achieved through loans made by USDA to intermediaries that provide loans to ultimate recipients for business facilities and community development in a rural area.
Rural Cooperative Development Grants establish and operate centers for rural technology or cooperative development to carry out activities and generate information useful to rural industries, cooperatives, businesses, and others in the development and commercialization of new products, processes, or services.
Rural Economic Development Loans and Grants make zero interest loans and grants available to rural electric and telephone borrowers to promote rural economic development and job creation projects.
Rural Business Enterprise Grants assist public bodies and non-profit corporations finance and facilitate development of small and emerging private businesses located in rural areas.
Rural Business Opportunity Grants to promote sustainable economic development in rural communities with exceptional needs. Making grants to organizations to provide for economic development planning, technical assistance, or training accomplishes this.
Contact: USDA Rural Development, 5975 Lakeside Boulevard, Indianapolis, IN 46278; 317-290-3100, ext. 400; Fax: 317-290-3095; www.rurdev.usda.gov/in
Remember, these are just starting places. We have an entire book and DVD training program on this, called Free Money For Entrepreneurs and you can check out our website, www.myamericanbenefitsplan.com, and look under Business for more sources.
It is important to follow up as many sources as possible and if those sources cannot help you, ask them for leads on who can. Also keep your mind open to other opportunities you never even thought about as you are investigating these sources. Maybe you can rent someone's existing land and give them part of the money you bring in. This way you learn how to get customers and run a business without having to pay for everything. The most important part of starting any business is getting a customer. Without that you are not in business.
Good luck and keep your dream alive. And keep finding more ways to fan the fire when the flames start to dwindle.
Matthew LeskoBest Selling Author and Entrepreneurwww.lesko.com