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Thursday, November 9, 2017

How to Get a Loan to Start a Business from The Government

Each company can apply for grants and loans from the government. First of all, you need an EIN and a D-U-N-S number.

The government gives a few appropriations to small businesses, loans, and helpful assertions. Despite the fact that the government does not give endowments and loans to new organizations, the government gives concedes and loans to small businesses that can help nearby or national activities, going from childcare administrations to better fuel productivity. In any case, to apply for government allows or loans, certain components must be managed so you can get an effective application process.

How to Get a Loan to Start a Business from The Government

Complete your business plan

Make sure your business plan provides well-documented information about your business, as you will be asked to provide information during the application process. Review the accuracy of your plan and make sure to include supporting documents in the appendix, such as tax reports, business references, insurance policies.

Get an  EIN

Register your business for Employer Identification Number. Visit the US Internal Revenue Service Act to complete the EIN application. Complete online applications during business hours so you can get your new employer's identification number as soon as the application is filed.

Get D-U-N-S number

Request a D-U-N-S number through Dun & Bradstreet (see Resources). You need this 9 digit number to apply for a federal grant. This is a free service. Have your EIN number available at the time of request. Allow six to eight weeks for verification and issuance of your number.

Register as a Federal Contractor

Register your business with the Federal Center Contractors Register website. Get contact information for D-U-N-S, EIN and your company is available when you complete the registration. Wait for your registration to be verified and completed within five business days after you complete the registration.

Sign up with Grants.gov

Register your business with Grants.gov so you can apply for federal concessions and cooperative agreements. Provide accurate information about your business, including your D-U-N-S and EIN.

Looking for subsidies

Seek grants through Grants.gov, as well as through your local government agencies, including Texas Public Account Controllers and Texas eGrants.

Apply only to grants and loans in which your company qualifies. Complete the application thoroughly and check for grammatical errors and inaccuracies. Provide correct information and include supporting documents, if necessary.

Apply

Write your resume, including answers and summaries, in plain English. Avoid using jargon, abbreviations or acronyms. Complete the application simply so that all business professionals can understand, because not all grants and loans from lenders are familiar with the industry.

Complete your loan and grant application in a timely manner. Avoid completing the application process at the last moment, as you may need additional information or steps.

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