No Federal Grant for Disabled Entrepreneurs
The SBA offers a variety of loan guarantee programs, and your startup might be a candidate for government contracting work
I had to retire due to the physical disability resulting from an ongoing bout with cancer. I’ve been entrepreneurial my entire career, having started several businesses and managed others. I always had adequate funding in the past, but now all of my "money" contacts and friends do not want to invest money with me because of my disability. I want to start a small mail-order business, and I’m fully competent and experienced to do so, but I can’t find investors. Is there government grant money available for disabled entrepreneurs? —N.W., North Hollywood, Calif.
The U.S. Small Business Administration does not give grants to start up or operate small businesses. However, it does offer a wide variety of loan guarantee programs that can help entrepreneurs get business loans from participating banks. You can get more information on loan eligibility at the SBA Web site.
Your new company might be a candidate for government contracting work. Check out the SBA’s Small Disadvantaged Business Certification Program, known as the 8(a) Program. Companies that are majority-owned by individuals from socially disadvantaged backgrounds, and who can also prove that they are economically disadvantaged, can qualify for an 8(a) certification that allows them to participate in government contracting and set-aside programs.
Resources for
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