Melvin Feller Business Group Looks at Grant Resources for Any Startup Business and the Best Alternative for Grants

Melvin Feller Business Group Looks at Grant Resources for Any Startup Business and the Best Alternative for Grants

Melvin Feller Business Group in Burkburnett Ministries and Dallas Texas and Lawton Oklahoma. Our mission is to call and equip a generation of Christian entrepreneurs to do business as ministry and with Grace. We provide workshops and resources that help companies discover how to do business God’s way and Grace for mistakes and start overs. When the heart of a business is service rather than self it can be transformed into a fruitful business ministry earning a profit and being of service to the community and their customers. Melvin Feller is currently pursuing another graduate degree in business organizations.

Grant Resources for Any Startup Business by Melvin Feller

I have taken the guesswork out of getting a loan in the United States and have done the research for you, compiling a list of loan and financing resources for your small business. New business? No problem! Low personal credit score? I have got you covered. From startups to established businesses, these resources can help any entrepreneur achieve your business goals.


Best Alternatives to Small Business Grants


Small business grants have one major advantage over business loans: You do not have to pay back a grant. A loan has to be paid back with interest, which can be tough on new businesses and businesses with cash flow struggles. That said, qualifying for a grant is tough, and if things do not pan out for you on that front, there are traditional financing options that can work for you.


Here are some loan options to consider if you cannot qualify for a grant:

Grant Resources for Any Startup Business by Melvin Feller

Microloans

Microloans are loans under $50,000, and usually have easy eligibility requirements and reasonable interest rates. Many of the same organizations, which provide grants, such nonprofits, and government organizations, also provide microloans. Therefore, if you don’t qualify for a grant, we suggest asking the organization if they provide loans.


Crowdfunding

There are multiple crowdfunding sites where your business can access funds. All you have to do is create an account, pitch your product or service, and wait for people to donate to your organization. In exchange for their money, you provide “prizes” like a coupon or free product. If you do crowdfunding, make sure to carefully read the rules because the platform usually takes a small cut of your money.

Grant Resources for Any Startup Business by Melvin Feller

SBA Loans

SBA loans are another alternative if you’re unable to qualify for a grant, especially a federal government grant like SBIR or STTR. The federal government guarantees SBA loans and works with banks to get these loans in the hands of small business owners. You can approach your local bank and see if they provide SBA loans.


Business Credit Cards


Although you might not think of business credit cards as a financing option, they can actually be a very convenient way to finance startup costs and other business expenses. Business credit cards often have high credit limits and other benefits, like rewards points and introductory 0% interest rates. Just be sure to use them wisely, and try not to carry a big balance month to month.

Grant Resources for Any Startup Business by Melvin Feller

Small Business Grants Are a Great Option, but There Are Alternatives


Small business grants mean free money in your pocket, so if you are able to qualify for one, congratulations! The grant will help you along your business’s journey. There are grants for startups, as well as established companies, but if a grant does not work out for you, do not let that hold you back. Other financing options can work within your budget. The majority of businesses launch and grow with traditional financing.

Melvin Feller Business Organization Graduate Candidate and Business Coach

Melvin Feller Business Consultants Group in Texas and Oklahoma. Melvin Feller founded Melvin Feller Business Consultants Group and Burkburnett Ministries for grace in the 1970s to help individuals and organizations achieve their specific Victory. Victory as defined by the individual or organization are achieving strategic objectives, exceeding goals, getting results or desired outcomes. He has extensive experience assisting businesses achieve top and bottom line results. He has broad practical experience creating WINNERS in many organizations and industries. He has hands-on experience in executive leadership, operations, logistics, sales, program management, organizational development, training, and customer service. He has coached teams to achieve results in strategic planning, business development, organizational design, sales, and customer response and business process improvement. He has prepared and presented many workshops nationally and internationally.