This post discusses sources of business grants for felons to help them rebuild their lives and rejoin society as productive, responsible citizens. Felons have a right to restart their life once they have paid their dues to society. With a commitment to change, criminals can start their businesses. But getting financial support is easier said than done. This is where business grants for felons become helpful.
Grants are funding that is provided to support a recipient for a specific purpose. Provided all conditions are met, the funds do not have to be paid back. Because it is essentially a boost to those who will receive it, the requirements are stringent, and there are eligibility qualifications. Still, there are business grants for felons so that they can be productive once more.
Check the following sources of information for grants that may apply to felons. Study the requirements carefully to have a chance for grant approval:
This is an information database that is a source for felons who wish to apply for education grants. This learning can be the critical empowerment to start the concept of a business. This website can provide information on how to acquire these school-related funding.
Grants.gov is the central repository where all federal grants and cooperative agreement opportunities can be found. There are no particular business grants for felons, there are some grants that are less restrictive in terms of who can apply than others. Federal grants are one of the most sought after sources of funding.
This is a nonprofit community funded by Sageworks. It provides information and guidance for former felons as they try to become productive again by pursuing entrepreneurship. This online database has videos to guide felons on how to find and apply for grants.
The Mission of the Office of Small Business Development Centers is to promote entrepreneurship, small business growth and the US economy by providing the critical funding, oversight and support needed by the nationwide network of Small Business Development Centers.The SBDC does not discriminate about the background of people to whom it provides guidance and assistance, including former felons. While they may not directly provide business grants to felons, SBDCs do provide counseling and guidance on how to start small businesses.
Federal Education Loans and Business Grants for Felons
The Federal Pell Grant award is open even for felons. For the 2019-2020 award year, it has provided funding assistance up to $6,195, according to StudentAid.gov. This is primarily an academic funding instrument, felons can apply for if they want to empower themselves with the skills they need to launch and grow a successful small business.
IndieGogo and GoFundMe (a personal financing site) are crowdfunding sites that help gather money for worthwhile causes, initiatives, and even business concepts. There will be no discrimination for former felons because the funding comes on the strength of the idea behind the fundraising campaign.
Restarting Anew for Livelihood
With the help of the justice system, felons can try again and reintegrate back into society as responsible, productive citizens. As I have shown, there are various business grants for felons that can help them get back on their feet and begin a new life as entrepreneurs. And while all of the grants and resources above do not directly provide funding to start a new business, they do provide support, guidance, education and technical assistance.
According to Initiative for a Competitive Inner City (ICIC), a growing number of prison entrepreneurship programs are supporting the formerly incarcerated in starting businesses that offer pathways to building wealth and achieving greater economic mobility.
Entrepreneurship can be an incredible step toward building a new life and breaking the cycle of recidivism. Within three years, more than half of the felons are arrested again. A productive business can help them turn their lives around. ICIC found that in one correctional facility-based entrepreneurship program, among graduates, the recidivism rate was reduced from an overall average of 28% to just 7%. Entrepreneurship works and business grants for felons–combined with education, support, guidance and technical assistance–can be a step in the right direction.
If you are a felon who owns an established eligible business or other type of organization and needs grant funding, Contact Me here and see if i can help you secure the funding you need.