I was wondering if there any loans or grants that convicted felons can get to start a business?

Clough

Hi, krisparker!

What you do is apply for grants or loans like anyone else. The possibility of obtaining a grant depends on the type of business it is that you are wanting to start. If it is one that will benefit the community in a great and far-reaching way, like something concerning education, or a business that will help those in need who can't particularly afford services or goods like a lot of people can, would be more likely to receive a grant. Obtaining loans are generally easier to get.

A person who has a conviction on their record; has done their time in whatever way, can apply for grants or loans just like anyone else. I don't know of any special grants just because someone has been convicted of a felony.

There are places in the U.S. however, that have organizations that do help people with criminal records to obtain jobs and maybe advise in terms of starting a business. Around where I live and also in the Chicago area, one such organization would be the Safer Foundation. Link is here: Home - Safer Foundation Perhaps there is such an organization around where you live?

Two other great places to get advice for starting businesses are http://www.sba.gov/ and SCORE | Counselors to America's Small Business | SCORE

What kind of business is it that you are wanting to start, please? Depending on what the business is, it might not cost you as much as you might think in order to start it. I have a number of small, service-oriented businesses that I run. If there's something that I need in order to do whatever business that I do, I can generally borrow what I need from someone that I know until I am able to purchase it myself. Those sort of things that I might need would be certain tools.

Also, you can advertise your business on many, many sites on the Internet for free! You can also have any number of free websites! I'm thinking of getting rid of my ads in the Yellow Pages of the local phone book, because of the cost, and just relying on the business that I get from my ads placed on the Internet. I get much more business from my Internet advertising anyway.

Again, what kind of business is it that you are wanting to start, please?

Thanks!

patrickbonnett

Yes, with one main condition; You must stop thinking of yourself as a "convicted felon." Once you have served your time and completed any parole, probation or restitution requirements you are hereto a "former felon" and never a word need to be said about it. Unless you are seeking a JOB and the application asks the question. In that case you probably wouldn't be looking for grants other than job training or further education. If your goal is to start a business then you are considered by some to be the best of friends the government could ask for. You are an entrepreneur and fortunately or unfortunately, depending upon your outlook, you must apply for grants just like anyone else. As a former felon you will be just as qualified as anyone else unless the program you are seeking funding from specifically denies access to persons with a felony on their record. Yes, you'll need to find a suitable program to meet your needs, click here Welcome, send for the application kit then submit the kit and probably send it along with your business plan. To become a good friend of the government, you'll need to answer these three questions to make it worth their while to take a chance on you:
How many new jobs will you create?
How much new tax revenue will your enterprise generate?
What new economic activity will your company or project bring to the community?
Make it worthwhile and you may find your local, State and Federal governments begging to give you funds. Best of luck!

Clough

Excellent, helpful and informative post by patrickbonnett above! The one thing that strikes me as being to most powerful about it, is right at the beginning. And, that would be for a person who has been convicted of a felony to stop thinking about themselves as being a convicted felon and viewing yourself as a "former felon."

I would just like to add that a big part of life is about making choices... A person can choose to keep looking back at the past and keep "dragging themselves over the coals", or beating themselves up mentally. Or, a person could choose to put their "best foot forward" and make positive and proactive choices in order to better themselves without thinking that what they did in the past might always be a barrier to what they might like to do.

A person really can turn their "scars into stars" with the correct attitude! I'm not saying that krisparker has a bad attitude at all, but just wanted to point out the possible negative attitude that many get sucked up into adopting, who have done something wrong; paid their dues to society, and who should really just get on with their life.