Tuesday, February 19, 2008

Loans or Grants for starting a home renovation business? -

Hi, I m wondering if there are any government grants, or loans available to people with less than great credit. I d prefer the grant of course, even if it s something I d have to pay back, but loan info would be appreciated too. I know every phase of home construction from the ground up to the roof, and I d really like to start up my own business where I buy houses, renovate, and sell them. I know I d be successful if I could just find a means to get started, does anyone know of any good way to get started? Thanks

You will see a lot of things online about getting grants.They are all scams.They will request a fee up front - and then you will get denied.Grants are only given out if you are destitute, only through organizations like the salvation army or united way - they will have the contacts to the goverment agencies.Grants are also given to people starting up a non-profit organization.Don t go for online loans - again - they will take your money - and you will get denied./

You need to start with a business plan. In RI were have the SBA - Small Business Administration and SCORE They help with obtaining small business Loans. But first I would talk to a CPA to advise you on the right structure for your business and what is available in your area.They are also familiar with Gov t grants that are now being given. Economy is bad hopefully you will qualify for one or more of the programs available. Talk to a CPA first most will not charge you for the consultation thinking they will get you as a client. Which being in business you will need one anyway. Any grants or loans given require you to submit financials periodicly.Good Luck

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