Apply for Minority Women Grants

Apply for Minority Women Grants
Nowadays, there are many government and private entities who offer minority women business grants to start their own businesses...If women decide on starting their own businesses, they normally approach their friends or relatives for loans, or try to obtain commercial loans from banks. For women falling in the minority category such as Asian, Spanish-American, or African-American who want to start businesses, there is a special benefit set aside known as minority women business grants. Apply Grants!!

Applying for Free Grant Money

Basically, a grant is a loan which is given by the granter to the receiver free of the need to repay. This simply means that if you receive any kind of grant, it is not necessary for you to repay it back again to the granter. You can use up all the money for the purpose you had applied the grant for. It is kind of free money or free gift to the needy, that are normally provided by various non-profit institutions and other businesses, with the federal government being the major lender. Apart from federal government grants, individual states and regional authorities also have their own set of grants to be offered to women from the minority class.

Difference Between a Loan and a Grant

A loan is where you have to pay back the amount to the lender with due interest. Whereas, a grant is free, and there is no need for repayment. One more point to note is that, you are eligible for business loans only after the lenders are convinced with your credit status. While in the case of grants, your credit history is not checked, since there is no need for repayment. On the downside, the grant obtaining process can be more complicated than of loans. Unlike loans, grants to be offered are limited in numbers, therefore due to a huge number of applicants, there can be only few who can receive this free money.

Obtaining Minority Women Business Grants

As grants are limited, you need to do some preparations for increasing your chances of obtaining the grants. For bettering your chances of receiving minority grants, you most importantly need to devise a business plan according to the business you are thinking of setting up. The chances of you being unsuccessful in obtaining the grants are high if you do not have a proper business plan which will assure the granters that the funds are going to be used for a good purpose. In preparing a good business plan, you can take help from business writing professionals or consultants.

With a sound business plan proposal, there also might be further requirements to be eligible for receiving the grants. Such requirements are usually industry specific. There are some women grant schemes which provide grants to women only from a specified work sector. Coming to how much money can be obtained in these repayment-free minority business loans, grants can include financial aid ranging from $1,000 to $25,000. This money can be used for the purpose of starting a new business altogether, expanding current business, or executing other business growth strategies.

The main key to succeed in getting grants is preparing a proper business plan. You can check the government's website for any information regarding the eligibility criteria of obtaining federal government grants. You can also check with several non-profit business organizations or women welfare societies in your locality if they are offering any grants.

By Stephen Rampur

source: buzzle.com/articles/minority-women-business-grants.html

Friday, 13 July 2012

Obama Credit Card Debt Relief Grants-Free 1000 Dollars to Pay Bills

Obama Credit Card Debt Relief Grants-Free 1000 Dollars to Pay Bills
The United States economy saw an all time low growth rate and negative graph patterns during the recessionary cycle that hit the economy in the time period of 2007 to 2010. During this period the scenario of loans, credit and debts, that have been observed, are not at all nice and change in this sector has become a dying need of the day. In the following article, the efforts of President Barack Obama to kill the recessionary cycle have been discussed. However, before we move on to the Obama credit card debt relief, we need to understated some facts and concepts.
United States and the Economic Recession
'Recession' or an 'economic bubble' is a financial cycle affecting the banking sector, employment rate and the consumer industry. The United States economic crisis was a recessionary cycle that hit the economy of the United States in the years between 2007 to early 2010. Though, as of date, the recessionary cycle is receding, thanks to the Obama administration and the economic policy of the government. Fair winds of change are already blowing over the nation rekindling the hope of the American citizens.
The major problem arose when economic conditions and negative transactions started forcing companies to carry out merciless lay offs. Millions lost their jobs in the process and further more, lack of sufficient funds resulted in the reduction of new job opportunities. The result was that the consumers had already borrowed from banks and credit card companies, and defaulted their payments. The banks and credit card companies eventually racked up a loss and were forced to declare bankruptcy. Overall, the situation turned ugly and began to fall apart like a pack of cards. When President Obama stepped in, the United States government began to initiate a set of legislation to reform and revive the economy efficiently.
Obama Credit Card Debt Relief
Obama credit card debt relief grant, an initiative of the Obama administration, which is spread across two legislations, namely the Credit Card Reform Act of 2009 and American Recovery and Reinvestment Act of 2009.
President Obama has called up upon the legislatures to make a drastic effort in order to relieve the consumers of debt that had originated in the recession period. The initiative to reform the credit card concepts is principally two fold. The first step is the Obama Credit Card Debt Relief program is a stimulus bill. In accordance with the bill, debt reduction of credit card bills on certain conditions. According to the Obama Debt Relief Initiative, debt bearers who have more than $10,000 unsecured debt, can write off or settle up to 60% of their debt without affecting their credit reports and ratings. The write off is also valid for people who chose to file for bankruptcy.
The second part of the reform of the credit sector and its industry is, of course, the credit card reform act. In accordance with this act lending and financial institutions which are involved in credit creation as well as all the credit card companies, will be subject to certain compliance. These compliance principally relate to public accountability during the billing process. Apart from that changes in APR (Annual Percentage Rate) and interest changes plus the late payments and service charges are being largely governed by the act. The consumers thus, would principally know what they are paying for.
Irrespective of the merits of the Obama credit card debt relief grant initiatives and the reform of the procedures, there has been certain controversy regarding the reforms. Student community is also benefiting from the Obama debt relief. Apart from Obama debt relief plan, Obama grants for small business is a similar initiative. I hope that the Obama credit card debt relief initiative and reform procedures bear sweet fruits.










Source - http://www.buzzle.com/articles/obama-credit-card-debt-relief.html
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