AskRecy response to two related child care questions:
Subj: Financing a Child care center
Do you know of any special financing geared toward childcare centers, in home or standalone, for startup or expansion?
Thanks
Subj: Childcare center
I am a young African-American woman, and I am interested in opening my own childcare center. I am searching to find out what aid is available in my area to assist with funding and starting my business. I am from Chattanooga, Tennessee, and have not been able to find out about any programs. If you have any helpful info, please send whatever you can! Thanks for listening!!!
AskRecy response:
I would first contact the National Child Care Association (NCCA), the only national association serving the private, licensed childhood care and education community. The email address is www.nccanet.org
NCCANet has been developed to provide private, licensed child care center/preschool owners, administrators and directors with up-to-date information and resources to help stay on top of the industry and prepare for future growth and success. Additionally, NCCANet serves parents looking for quality childcare by providing information about NCCA member centers across the country. If you are going to be in the Child Care business, this is a good organization to network.
Second, there is a Bill entitled Child Care Loan Guarantee Act which has a section called Child Care Facility Financing. It was created for communities to address the needs of families; they need to ensure that licensed, quality childcare is available to families. Increasing the availability of childcare requires innovative methods of financing child care facilities. Child care facility financing utilizes strategies such as bond financing, linked deposits and loan guarantee programs to increase available capital for developing new and renovating existing facilities that can meet significant needs for child care. There is a Center for Policy Alternatives, with the support of the Packard Foundation, has promoted a list of innovative, community-based methods of financing childcare facilities. Some of these methods support community-based childcare providers that, in turn, promote economic development in neighborhoods. One financing method is targeted investments by banks, in which they invest in community childcare as part of their obligations under the Community Reinvestment Act.
Go to http://www.cfda.gov/query/query.htm. And query on the words "child care" This site is a list of Federal programs available to both domestic child care assistance and some related funding of facilities meeting certain criteria.
Good Luck!
Re: Three Government grants questions
Subj: Money for new business
This is a question I've been having a hard time answering...if you could help it would be much appreciated. Do you know of any government grants given to small business owners, just starting out, and if so where do you contact such an agency?
Hope that you can help,
John and Lynda Sauls
Subj: Please tell Me How...?
I hear that there are government grants for minority women who would like to start a small business. Is that true? And if so, what do I do to find it?
Thank you,
Subj: Federal Grants
I would like to start my own gift shop business, but have absolutely no money for start up. My partner and I really want to do this. I have been doing research on federal grants to start a small business for women/minorities. At the present time I have nothing. I was told by someone at the Womens Business Center in Washington D.C. that there is no such thing. You see all these publications on Free Money Grants from the federal government. Can you tell me what you know about this? There are also so many web sites and infomercials about this. Are they true, and the government does not want us to know about it? Please, help me with any information you have.
Thanks alot,
Askrecy response:
The federal government does make an effort to provide grants and funds to develop certain markets and/or improve inequalities in certain programs. The primary purpose of these funds is not to put people in business for the sole purpose of owning a business. However, there are opportunities available for federal money that provides services or a product that either the government needs or an area or condition warrants that service or product. Nevertheless, you must find that void that does not exist, a technology improvement to benefit a certain area or a program or condition that needs enhancing whether you are just starting out or are a seasoned businessperson, it makes no difference! I belong to several business organizations and entities that are always apply for some type of government assistance, but very few of these entities or other companies is seeking government monies to start a new business, it’s mostly to add to or enhance an area or facility. The 2000 Catalog of Federal Domestic Assistance can be found at http://www.cfda.gov/ search through the catalog, you may be surprised at some of the programs, and you might be able to apply to. If you are looking for the federal government to simply loan you money to start a business, you may be disappointed. However, if you are looking for the government to provide assistance or funds needed to support or supply a service or product to an area that may be of benefit to the federal government or enhances an area or condition, you may have a better chance.
Subj: Starting Business
From: Rod
Good Morning,
I'm a 36 y/o black male interested in starting my own catering business. I'm currently in the Air Force and will retire in three years. I have never attempted anything like this and would like to know where do I start. I would like to start off doing it part time to see how things go. I'm tired of working my butt off for other people and would go full steam ahead if only I knew how to get started. Help please!
Rod
AskRecy Response:
The catering industry has become one of the most lucrative small businesses to enter into. Low overhead costs and with the marketing advantage to sell your service to customers attending functions and events requires little capital investment. You do not need an industrial kitchen or a chief license or certificate to enter this business. Adding a few pieces of equipment to your home kitchen and honing your cooking or other catering talents to suit your customers and guest requirements. Followers and readers of AskRecy know that I frequently recommend and require those seeking to either start a new business or to grow an existing business to practice the three "R’s" - readiness, research and reading. If you are serious about building a successful catering career and are thinking about starting up your own home catering venture, read
Subj: Advice on Growing Minority Business
From: Sandra M.
Hello Recy,
I am trying to get a grip on my career transition. I must get my own house in order have been pondering on how to get things together, a little voice said," Ask the Expert". Suddenly I remembered reading, "Ask Recy". So here I am.
I realize you are very busy so I will get right to the point. The richness of the document cannot be explained. There are several websites that are most beneficial. The most valuable one to me at this point is the one inquiry you had from Kimberly E. She is the young lady who worked for the bank who is trying to establish a database for "Lending Money to Black Owned Businesses." I fit that category. I started project last year and It is still on the ground level. (Sometimes I feel like it's below ground level.) Funds are needed to operate efficiently. This project is a service organization. We hire ourselves out to: teach, speak, preach, write grants, do nails and hair, theater and drama, poetry, and music. These are the special skills my children and I have. I am in pursuit of attending workshops for starting a Small Business at a local college.
I have been trying to refinance my home in order to have funds to operate from until the grant writing become profitable. This process has been in the making for almost four months. It is difficult to stay focused when funds have been depleted. How can I reach Kimberly? I feel her service is the answer to my prayer.
Sandra
AskRecy Response:
Ms.Kimberly E's email address was sent under a separate response. I hope she can assist you. On the other hand, I'm not sure attending workshops for Starting a Small Business, at a college will provide any immediate benefits. I have found reading material of more benefit than some of the courses available to people seeking to start a business. Some of the courses, I found to be more in theory than practice. However, they are educational. In other words, do not be disappointed when you have completed the courses that you are still in the same position when you started, i.e., needing funds. Finally, there is a paperback book written in 1991 by Rosie Milligan called "Starting a Business Made Simple." You should be able to find it in the library. It discusses a simplified approach on how to succeed in business.
One of the recurring and sometimes disappointing issues, I have encountered when responding to AskRecy questions is that most inquiries seeking to start a small business feels that money or a quick loan will be the solution to get started. If I were a banker with money to lend and you came to me with ten things you want to do and start in a new business (teach, speak, preach, write grants, do nails and hair, theater and drama, poetry, and music) - I would not loan you any money. Why? Because - with so many things on the plate - it's the sign of potential business failure. In my business, I also do numerous things and provide numerous services, but it did not start out that way. Most entrepreneurs chose and developed what is called the "Cash Cow" - i.e., the potential bread and butter of the business. Your intent is to include your daughters in the business, this is fine and amicable, but how about concentrating on a single idea or two that together, all of you can start and develop a successful business. You may be able to accomplish this without much startup capital. Then later, concentrate on each other's additional assets and abilities. A banker would also like to see a well developed business plan, especially in your situation. There are many inexpensive software products on the market that guide even an inexperienced person through the process. Before anyone goes into business, he or she must know who are their competitors, where are they located, who are the potential customers, where are the customers, what is the marketing strategy and the answers to many more questions.
If you still feel additional startup capital is needed, refinancing your home is an option, but be careful that you do not overextend yourself. As a small business owner, I like to encourage people with that entrepreneur’s spirit to "Go for it." That's how many small and large successful business go started, but at the same time, I want my readers to research, read, and become aware of the tools available for success and well as the pitfalls.
Good Luck!
Subj: How can I get into the contract bidding industry
From: Alan W
Dear Recy
My name is Alan W and I'm writing you to get advice on how I can start into the contract bidding industry I recently was looking in the newspaper here in Indianapolis and I ran across a bid for a township for picking up recyclable goods so as I went into further investigation I found so real good money was being made so now I'm trying to go about getting some backing as far as money so that I can be competitive when I make bids I'm going to try for this bid due on the eighth of June 00 and hopefully this will be a start to a great future in contract bidding I guess my question is do u have any advice for me
Thank you .
AskRecy Response:
City, state, and federal contract are difficult to obtain and highly competitive. However, my advice to anyone wishing to enter this type of contract bidding, is to give it a try, who knows? You may have a commodity or service the agencies need. First, there are a few simple requirements, such as becoming qualified to bid on such contracts. This can be solved with a simple phone call to the city or state agency that has released a Request for Proposal.
The is also another important requirement if you serious in entering the contract bidding arena --- Networking! Networking! In the city of Houston, the Minority Business Council has monthly luncheons, featuring speakers from many companies in position to do business with MWBE's. Some of the people have buying authority that does not require a RFP. You may be surprised at the dollar limit these individuals have when it comes to supporting their organizations. I personally know some whose limitation is under $25,000 and others under $15,000.00. You indicated a successful piggyback alliance.
Instead of trying to be the big fish by devouring the whole meal, why don't you create an alliance with several other MWBE's? There's more than one way to walk into the door. Good Luck!
From: CFILJ
C. Filmore Johnson
From: KATJAZZ24
To: ASKRECY
From: JanWPCUG
From: HandsClay
Mrs. C
From: Trswhite7
Trswhite