Owning and operating your own business has been something that many Americans, both immigrants and natural born citizens, have strived for since America’s inception. The idea is that by owning your own boss you can make more money and provide a better life for yourself and your family. Unfortunately, the fact that it generally costs more to start and operate a business than most people can afford to spend is a part of life. When banks found out about this lack of funds they began offering up loans. These loans generally had reasonable interest rates, but many people need to have their business started as well as some collateral in case they default. Seeing a niche for people trying to start a business and the opportunity stimulate the economy, the government began offering grants.

A grant is basically a loan that you don’t have to repay. For a business owner that means that instead of merely consolidating their debt into another loan that they will still have to pay monthly for, they can receive this money and use it to expand on their business (sometimes just a business idea) and hopefully be successful. This can mean the difference between a store front or working out of your personal garage or it could give the business owner a chance to acquire more product, reducing their costs because they can buy in bulk. This all helps the economy getting people to spend more money, which in turn creates jobs and helps the economy grow and thrive.