Village Tip: Expanding Your Black-Owned Business via Government Grants

Often small business owners seek to grow their business through government grants. Unfortunately, government grants are rarely available to business owners. However, if you are willing to look for them ... then the first place to start is locally. State and local governments are a viable source for providing money to area small businesses. Check out www.business.gov, which lists organizations by state and by industry.

Also, some organizations, like ACCION USA, offer micro-lending and development courses, as well as guidance to small business owners. These organizations provide small loans with considerate repayment terms to those unable to access traditional financing. An additional benefit is that you are linked into the network of other small businesses involved in the program.

Another helpful government agency is the Minority Business Development Agency. There you will find information on both loans and grants.