Business Funding Resources

Starting a business is a major part of living the “American Dream”. Having the freedom to call your own shots and run things the way you see fit are main draws for potential entrepreneurs to step out on their own. However, the hurdle that most of those potential business owners are not able to clear is finding the capital to bring their dream to life.

This month (the last in my quest of a Masters Degree in Entertainment Business), we discuss ways to acquire the necessary funding for starting a business.

Believe it or not, even in this economy, there IS money out there for entrepreneurs. You just have to know where to look. Here are a couple of resources for beginning that search. The website http://www.eda.gov has a plethora of financing and investing information. One such opportunity listed on the site is a Waterfront Economic Development Grant which is awarded to the organization that finds the best way to preserve and advance the economic vitality of a waterfront community. This grant is worth $1,500,000, yet only $300,000 will be awarded to the chosen entity. The powers that be who are making the selection require the grant recipient to be a municipality, a Native American organization or an institution of higher learning, just to name a few.

Another funding opportunity can be found on the http://firstnations.org/default2.asp?id=69 website. However, this may not be for you if you’re not of Native American descent. This site gives Native Americans the tools needed for finding those elusive business grants and loans. For instance, the First Nations site lists several grants under the Native Youth and Culture Fund. One particular grant, The Owens Valley Paiute Language Program, awarded $20,000 to the Bishop Paiute Tribe of Bishop, CA for starting a language instruction and cultural enrichment class for after school and summer programs.

So remember, whether you’re the next superstar restaurateur or an Indian tribe trying to keep the kids culturally connected, there IS money out there to get you on the right path. You just have to know where to look!