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In economically challenging times, most small businesses settle for something that will reduce extra bulges in their pockets. Striving businessmen may consider the following resources to avoid wasting resources. Grants that Allied writers create and the reviews it receives tackle the positive and negative aspects of the different options in sustaining business’ growth. Loan Guarantee Programs Some businessmen find debt financing institutions as an interesting financial provider. Banks and lending agencies provide a line of credit accompanied with a payment schedule inclusive of an interest rate. They offer manageable payment structures to alleviate financial difficulties. They set specific eligibilities for applicants to qualify for their programs. Cash flow, collateral, and the liquidity of assets are reviewed to identify the business’ long term capacity. Benefits: • Debt financing institutions do not interfere with the operation. The owner still holds the power over his/her business. • There is a reduced income tax deduction because business loans are sorted under expense. Pitfalls: • Borrowers are obliged to follow the scheduled term of payment.In case of a bankruptcy, the claim over assets is given to the lending agency. • Interest rate increases because it is affected by macroeconomic conditions, default payment, business credit rating, and personal credit history. • The business strives harder to generate sufficient cash flows to be able to pay loans on time. Grant Applications When people hear the word “grant,” the first thing that comes to their minds is free money given only to non-profit organizations. On the contrary, there are private foundations and government agencies that provide free funding to private ventures. There are a number of private organizations that provide funding for small businesses such as W.K. Kellogg Foundation, Ford Foundation, and Caleb Brown Foundation. Interested grant seekers only need two things to secure funds: 1. Devote more time to review and comply with the funders' eligibility requirements. 2. Create a significant proposal. Aside from numerous private funders, the government established specialized grant-making agencies to financially support entrepreneurs as they start and maintain their ventures. Some federal agencies that support small businesses: 1. Federal SBIR Program R&D Grants - Small Business Innovation Research (SBIR) program funds businesses that are involved in scientific research and development (R&D). 2. State Government Grants - provides discretionary funds to an entity that can offer progress to the state where it is located. Benefits: • They are a cost-efficient source of funding because they provide free money. • Investors are provided with resources to maximize business potentials. Pitfalls: • Strict compliance with the requirements is obligatory. • The competition is stiff because of the huge volume of applicants. • There is a need to demonstrate a clear, beneficial, and achievable program for the application to be considered. Applicable Funding Preference Evaluate the discoursed options to discern the appropriate and beneficial resource.Decide which one will optimize business resources and bring cost-efficient results.It is apparent that grant application is a viable choice towards aprofitable sustenance. Although grant writing requires a systematic process, there are services that help applicants to have a strong and influential proposal. Allied Grant Writers will develop a proposal that is tailored to the requirements of private funders and federal grants.The company’s extensive experience in the field of grant writing has caused it to produce qualifying proposals that comply with funders’requirements. Visitwww.alliedgrantwriters.com to know the services it offers.
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