Do you know about business grants for felons? If not, then here, we have listed everything that will give you a small insight into how and where to get business grants.
Even after a long time paying off the debt to society, most felons face several challenges in generating a steady income. Therefore, the best option for those who want to start over is to set up their own business. You don’t have to deal with corporate hiring managers or nagging owners but will have control of your life.
But how will you manage the limited financial resources?
A felon who wants to start a business can avail of many government grants to get the business concept off the ground. Several grants targeted explicitly at felons.
Business Resources and Grants for Felons –
1. Help For Felons –
Our organization is dedicated to providing support and direction to felons in every aspect of life. However, they focus on general reentry into society, not on setting up a business. You can get a wide range of tips that can help you with everything from legal information to getting education loans.
For more information, visit – HelpForFelons.org.
2. Federal Education Loans for Felons
Do you want to learn accounting, marketing, graphic design, or another skill that could work as the foundation of your business? For felons, it is hard to go back to school for training, certification, or a degree, due to financial need.
Therefore, there is a federal Pell Grant or federal student loan that can help in managing the finance of going back to school. This government grant for felons can assist you in establishing your own business.
Know more about – federal education loans and grants
3. Grants.gov
You can use this amazing website for federal government grants for felons that you are eligible for. The best way is to look for grants that cater to your type of business idea, nationality, heritage, or other characteristics.
Also, remember that there is a larger number of grants for nonprofits compared to profit businesses. So, you might consider starting a nonprofit.
4. The Federal Trade Commission (FTC)
Unfortunately, many scammers take advantage of desperate people looking for accessible ways to make money from home and be their own boss. This made the Internet a space full of promises about making money from telemarketing, filling envelopes, or making medical bills from home.
Hence, before signing any contract or sending money to these operations, make sure to visit the FTC website. Also, read the tips that can help you prevent scams. Remember that if something sounds too good to be true, it probably is.
5. GoFundMe
This is a personal financing site that has helped many people raise more than billions in establishing their business. All you have to do is create a campaign and share it on social media. Because the site acts as an intermediary, donors feel safe to give money.
Most people use GoFundMe to fund things like education, medical expenses, or charitable donations, but if you can create a compelling case for why people should fund their startup, this could be the perfect solution to get the funding you need.
6. IndieGoGo
This crowdfunding website can assist you in obtaining financing to bring new ideas or product inventions to life. They provide expert support on various aspects, including launching and managing your crowdfunding campaign. They also help in connecting you with design, prototyping, and retail partners to bring your product to market.
7. Small Business Development Centers (SBDC)
There is an Association of Small Business Development Centers, which is a national nonprofit network that supports business owners and individuals who want to start their business. In most cases, SBDCs are connected to local colleges and universities.
They provide free advice as well as counseling from business experts such as accountants, lawyers, marketing professionals, etc. They even host networking events, seminars, and webinars to help people start and develop small businesses.
8. Small Business Administration (SBA)
There are not many ways by which the government will directly finance your new business. However, the good news is that they can definitely support and help you. The Small Business Administration (SBA) is an important resource for information, training, and support in finding funds related to government grants for felons. In your search for cash, you may be tempted to jump on things like “training and support.” But be aware of the fact that training and counseling can sometimes be more valuable than cash. You may not have a good handle on your business model, and it is really causing problems that require more cash. If that’s the case, then an injection of money could further mask your problem. An organization like the SBA is designed to provide excellent advice that you should take advantage of.
9. Your correctional facility
If you are imprisoned, then try to take advantage of the resources that exist within the prison system prior to your release.
Many correctional facilities have programs that help inmates gain job skills that can also be helpful in starting (and running) a small business. For instance, you can learn to use Microsoft Office or take a culinary arts course.
10. Your community
Programs explicitly designed to help felons start businesses tend to be small and locally based. The following resources can help you discover if there are programs near your area:
- State government website/offices
- County government website/offices
- City’s government website/offices
- Local churches, temples, or other religious organizations.
- State and local economic development agencies/organizations
This is one of the best ways to start when looking for business grants for criminals.
The conclusion –
After spending a long time behind bars, convicted criminals face many problems while getting back on their feet and finding ways to earn an income. While reentry programs across the country help ex-inmates find work, some people may have more important goals in mind. These government resources and grants for felons are the best way to build your business and make your dreams come true.
