Alternate Funding for California Small Businesses
Businesses located in California have many different options when it comes to financing their business. While many businesses take the business loan approach, others choose to self-finance the business, or accept funding from friends and family members. However, a small business owner in California can also secure financing through grants. No matter the industry, there just may be a grant that can help with a small business’ financial needs.
What Are California Small Business Grants
If you have, or plan to start a small business in California, there are financial resources that can assist you with start-up funding for a new business, or additional funding for an established business. Most people automatically think of loans when it comes to business, but grants for business owners are available as well. A business in practically any industry can apply for a small business grant, but when searching for these funds, it is advisable that the small business owner/entrepreneur start with grants that are matched to a specific industry.
Benefits of California Small Business Grants
The biggest benefit to receiving a California small business grant is that unlike loans, most grants do not have to be repaid. Also, some grants are one-time only investments, while others can be renewed, either annually or another time frame. And once you have been approved for one grant, it makes applying and being approved for additional funding easier.
Who is eligible to apply for California Small Business Grants
Eligibility for grants varies on a case-by-case basis, and by industry, but any business which is classified as a small business in its industry can apply for a small business grant. Small business owners should thoroughly read the requirements and eligibility rules of a grant before applying. It is also important that the applicant follow the application to the letter, including and especially any due dates or benchmarks that have to be met.
How to apply for California Small Business Grants
The state of California’s website, ca.gov have a section dedicated to small business grants, including a database of all grants available for businesses. A small business seeking a grant should search this database and find grants that suit their needs. Once a suitable grant is located, potential applicants should follow the procedure outlined and apply for the grant accordingly.