Funding Options For Seniors In Business
In many countries there are all kinds of ways to get financial assistance to start up a viable business if you are a senior
. Since this varies with the country and even by state, you need to do some research into what is available near you. If you are a senior, you may be able get financial assistance to start up a business through a grant of some kind. Or you may be eligible for a grant for some other reason rather than your age. Often there are grants available for certain people groups.
The federal government is awarding grants to associations and individuals who are in need of funds. With that kind of support, you can implement activities authorized by the federal law.
About twenty six federal agencies are now offering 1,000+ kinds of grants yearly in different areas. There are grants offered to help the senior citizens. Large corporations, charities and nationwide foundations are offering funds or grants for supporting worthwhile actions. There were 72,000+ foundations within the US that provides a total sum of US$40+ billion in grants in 2007. In accordance with the research done by todays Foundation Center, which happens to be a national grant information center, todays grant-making keeps growing each and every year with the foundations raising their awards every year.
Grants could be issued for many particular purposes. The same applies to the grants provided by Americas federal government. There are grants that could be "unrestricted" meaning that these funds could easily be utilized for all sorts of purposes by the recipient organization. But if you are really focused on the grants that are meant for senior citizens, there is a wide selection of those. These are offered every year for supporting the needs and demands of seniors. There are federal grants that can meet different types of senior needs. There are some common needs like nutrition, education as well as housing needs. The public and private organizations can also offer different kinds of specialized grants to organizations that work with seniors or the ones that support education, health, inexpensive housing, senior shelter as well as volunteerism.
However, there are few grants, if any, awarded exclusively to a person. No matter what some commercials might tout, there isnt any mysterious bank offering free money and no one is waiting to get tapped to assist somebody with their living / medical expenditures. For instance, people seeking assistance have to get it through different types of agencies and organizations.
Today, you can find different types of examples of federal grants. There are Capital Assistance Programs for the nations Elderly Persons and for Persons with certain Disabilities. These funds are meant to help the elderly people meet their transportation needs in places where there is scarcity of public transportation services. Another great example here could be the Foster Grandparent Program, which is designed primarily to provide some effective volunteer services to persons who are 60 or elder and have limited incomes. There are funds for supporting volunteer programs which readily available these days. These programs offer personalized services to children who have special needs.
Have you ever heard of Mortgage Insurance-Rental Housing programs that are offered to the elderly in the United States? Funds are now being made available for programs that insure mortgage lenders against losses. This increases the overall number of todays rental housing opportunities for seniors. Another good example of financial support for elders is the Nutrition Services Incentive Program, which offers funds to the state level agencies helping seniors as well as to the Indian Tribal Organizations. The funds are used for purchasing foods and commodities from the US Department of Agriculture. The foods are used for the preparation of nutritional home-delivered meals. There are Retired and Senior Volunteer Programs that issue grants for encouraging persons who are 55 or older to volunteer and provide community services.
Today, there are many foundations out there looking for individuals / groups who are offering education, healthcare and housing support for seniors. There are many foundations offering grants. These are accessible with an online research. But to make sure that you really get some of these grants, you need to be utterly cautious about the art of applying for grants. Anybody can apply for these grants that are meant for senior citizens. Today, some of the major recipients of these grants are not-for -profit organizations, government agencies, public or private schools, small business and most importantly - individuals.
If you cannot find any grants you may be able to get money in some other way such as a loan, through family money, superannuation payouts or by cashing in some other investments. It is a good idea to be advised by a financial expert.
by: Cheryl Klein
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