There is no doubt about it. I know it. You know it. Our local politicians know it. You can go up the line all the way and see that President Obama knows it. Our business owners like you and I need help in getting through this recession our country is stuck in. President Obama is clearly well aware of the financial strain most of us are in. He is so much aware that he has decided to put the money where his mouth is and President Obama small business grants are available to several more people around the United States than what was available in grant money even just four or five years ago.
Who is eligible for small business grants?
Currently, President Obama Small Business grants are available to a very wide range of business owners. It ranges from not only non profit organizations such as charities, but all the way to those businesses such as car manufacturers. The little guys are not left out however, and people for the last couple of years have been working towards trying to help the smaller business owners stay afloat. You must prove that you have a viable business model and need the assistance in order to qualify.
What is required to receive one of the many President Obama small business grants?
A: Prove you need the small business grant
This is going to be one of the things you are going to have to prove during the application process. My recommendation is to take a full inventory of what your overhead expenses are, all the way down to the penny. If you have not started your small business yet, then you should take a realistic, but honest approach to what is required to get the business up and running. Determine why you need to spend that money and why it is required in order for your business to function.
B: Explain exactly where the money is going to be used
The government wants to know where their money is going to be going. Therefore, when applying for a small business grant that President Obama has established you should always make sure you have chosen the areas you need help with the most. Always identify the logical reasoning. For example, if you are starting a restaurant you probably need a grill of some kind but restaurant quality grills are not inexpensive. You should identify that all other options are out of question for you, possibly even including loans.
C: Keep good records
When obtaining a federal small business grant you should view it not as free money, but as a contractual agreement. The federal government wants to ensure that the money they are providing to stimulate the economy is being put to good use to make a difference in the economy. Therefore, even though your bank account may look a little bigger after receiving a grant, you should never go out and buy anything that you had not discussed in your application process in regards to where the money is going to go. You will be expected to prove how the money was spent through a review process that usually will come around one to three years after being approved for a federal grant.