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My goal to purchase a quest ranch in Arizona. I followed your books and after 4 months of research found the road to a approved government loan for a 3million dollar project- a ranch of 2.8 and renovations. Wow! Thank you, you were right on! Problem!!! Is there grant money for buying a guest ranch without using my own money or the government loan programs?
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Dear Ms. C.,
Congratulations on finding money programs for your ranch, even if they are loans. This is a wonderful start. And most importantly you learned the system well enough to find these programs and that you also want to persevere and find something even better. Remember, it does not hurt to ask, and you never know the real answer until you look.
One way you may be able to put a deal together without any of your own money is by finding a partner or investor. One of the major ways to do this is by looking for what is referred to as "venture capital." This is really other people's investment money. Your ranch is really a business and there may be people out there who are interested in putting up money to be your partner. The good part of this is that it is not your money and the bad part is that you now have a partner. It's like a marriage and you may know that they can be good or bad depending on the other person.
Remember this is a shopping list or a dating list. There may be a lot of ugly people you may never want to go out with and there may be Mr/Ms Right hiding in there. You have to go thru the entire list to make sure there is not a pony hiding in there somewhere.
You can apply to more than one Small Business Investment Company at the same time. Each acts as an independent company and they can provide money to both local or out-of-state businesses. At the end of this section is a listing of SBA licensed Small Business Investment Companies. However, this list is growing every day so it would be wise to contact the following office to obtain a current list: Associate Administrator for Investment, U.S. Small Business Administration, Washington, DC 20416; 202-205-6510; www.sba.gov/inv.
Go thru the list and first contact those in your state and in state you wish to have your ranch. You should also contact the associations listed to locate additional venture capital companies.
Your local Small Business Development Center can also help you identify additional venture capitalists and can also help you with any paperwork these people may require. Here is a description and contact information for your local center. Because your business will be in Arizona it is best to start there.
Small Business Development Centers (SBDCs), funded jointly by the federal and state governments, are usually associated with the state university system. SBDCs are a god send to small business people. They will not only help you figure out if your business project is feasible, but also help you draw up a sensible business plan, apply for funding, and check in with you frequency once your business is up and running to make sure it stays that way. Contact: Arizona Small Business Development Center, 2411 West 14th Street, Tempe, AZ 85281, 480-731-8720, 480-731-8729, www.dist.maricopa.edu/sbdc
There are also over 200 housing programs for Arizona. I realize that you may have already considered some of these programs and there are also loan programs in here which you may not be interested in. But you should take a look at them anyway, because there are loan programs in which you do not have to pay back the money if you occupy the property for a certain number of years. And if you find some venture capital money you may be able to supplement the deal by using one of these programs. For example, if you get 20% in venture capital money you may be able to use a loan program to cover the other 80%.
You can search for programs in the Catalogue of Federal Domestic Assistance at www.cfda.gov This site lists all the government's money programs. You can search by housing or ranch. You can also look at the U.S. Department of Agriculture website at http://www.rurdev.usda.gov/az/ In addition on the state level you can search at http://www.housingaz.com/
One more place you should investigate is your local state office of economic development. They are there to help you start a business in their state. They can explain various financial programs that they have and can also help you locate venture capital. Here is the office for Arizona. Contact them and get a description of all their available programs and read them thru closely and see how they might apply to you. Be sure to keep an open mind and if you think there is any even remote possibility that it might apply to you be sure to contact them for more information.
I should also add that you must contact the city and/or country government office in the area you plan to have your ranch. All these local governments have money they get from their state or from the federal government that they can use to attract entrepreneurs to their area. They may have grants and low interest loans to help you. You can find your local government office by looking at www.govengine.com
Holy cow, you tired yet? That's the problem with life nowadays. It's a lot bigger and complicated than it used to be. When I grew up in the 50s there used to be just one place to turn to for help, and that one person seemed to know it all. Now times have changed. No one person knows everything anymore. Life's become so complex. Even I, who has been studying money programs for over 25 years, and am likely to be the best one in the country at it, still don't feel like I know it all.
You can't trust a "no" answer anymore. No, just means that they don't know anything. It seems that success in this world goes to those who don't take no for an answer and find a way to solve the problem no matter what the experts say. The experts are wrong too many times to trust them completely.
It's fun to continue to learn new sources of help and new skills for finding money. I always believe that the sources you identify this time and don't use will be of value to you some time in the future, but you just don't know it yet.
I hope our sources give you some help. Hang in there, it's a big world and there are lots of sources waiting to help you but they won't come looking for you, you have to go looking for them..
Matthew LeskoEntrepreneur and Best Selling AuthorInformation USA, Incwww.lesko.com