Minority small business grants exist for new business and existing small business that would like to take their businesses to a new level. And if you are a woman, minority race, disabled, or in some other position that makes you a minority you need to apply for the minority small business grants and get the grant money you deserve.

If you are a small business owner that would like to qualify for one of the minority small business grants you need to have the answers to a few important questions such as what your plan is to grow your business over the next five years assuming you do not have grant money. This projection should also include revenue projections. The board will want to see how your business will develop and grow. Now do a comparison including small business grant money and the growth and revenue projections using that money. It should also include how you will use that money. For example, to buy equipment, buy a building, increase stock, or perhaps as investments.

You will then build a second option for your business plan which then shows what would happen if you got the grant money. You need to project how you will use the money. It could be for equipment, to increase your stock, or even to buy a building. Here is some great news! Each year you can reapply for the minority small business grants. So you can see where year one is important to get your foot in the door so to speak. Then in subsequent years if you have followed your business plan successfully and you r new business plan still looks promising you have a good chance of obtaining another of the minority small business grants.

The small business grant money that the government offers for minorities is just once source of funding. There are also agencies like FAME and HOPE that are privately funded and offer grants to minorities. In fact HOPE gave away more than $72 million dollar in minority small business grants in just one year. That's pretty impressive.

Besides minority small business grants there are all kinds of other small business grants available. In fact, if you are good at what you do you'll be applying for minority small business grants as well as other small business loans and grants. If your proposal is real good you could be approved for grants from different categories. With more than a half billion dollars of US government small business grants to choose from, isn't it time to get busy?

There are a few small requirements in order to qualify for the minority small business grants. The two most important is that you must be a minority and you must be an American citizen or a legal resident. You don't need a credit check and they don't even care if you have been bankrupt in the past. What they want to see is your five year business plan. This is what is going to make or break you getting those free government grants for small business.

Once you have lined up the small business grants that might work for you, you will need to fill out an application and include that well thought out business plan that you've put together. In fact, keep that plan handy because you are going to give it a lot of use for awhile as you attempt to secure one of the minority small business grants.

Why is it that each year there are millions of dollars of minority small business grants that don't get used? One big reason is that the government does a very poor job of getting the word out. But now that you know all about it - it's time for you to start applying for minority small business grants!