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Where The Money Is!

by Barry J. Lipson
Past Chair, SCORE Pittsburgh
"A lot of times business owners will modify their business based on funding opportunities."
Dave Lavinsky, President, Growthink, New York, NY

Where the money is! First it comes from founders, family and friends, from second mortgages and
nest eggs. But that may not be enough. Human nature being what it is, grants, free money, occupies
ones dreams But, while in very special circumstances some may be available, practicality inserts
itself and start-ups with the will to succeed seek Seed Funding (under six figures), before, perhaps,
moving on to Angel Funding (up to the low seven figures). Then, if significant success appears to
others to be bright on the horizon, Venture Capital Funding may become available (low to moderate
seven figures). Other than grants, most forms of financing come at a cost. Loans require they be
repaid and usually require the payment of interest and possibly fees, and money for equity means
that you have given up ownership interests in your business. Even grants may or will require that
you account for how the money is spent.
Grants are a form of financing that does not need to be repaid, bares no interest and does not cost
you any equity in your company (a loss of a share of your ownership interest). Seed Funding is startup money. It may be traditional or "creative"; and it may be in the form of loans, grants, or chunks of
equity. In the best cases such Seed Funding may come with mentoring, technical assistance and/or
other benefits to help plant strong roots for your business. Angel Funding comes from "Angel
Investors" (hopefully accredited), a groups of investors who purchase equity in growing companies,
and perhaps also provide technical support and/or contacts (here you are no longer sole owner).
Venture Capital Funding (VC) comes from Investment Firms who seek to make very large equity
investments in potentially high growth companies, expecting to recoup many times more than their
original investment.
Crowd Funding
One new and creative form of Seed Funding is Crowd Funding, whereby the "seeds" or packets of
money come in small amounts from a large number of people, typically by way of the Internet. They
may be in the form of loans (interest or interest free), equity or even donations; and may come with
SCORE mentoring. There are reportedly hundreds of crowd sourcing websites ranging the gamut
from hi-tech environmental products to Mom and Pop fashion marketing. One such special test
project of Crowd Funder Kiva is Kiva Zip which enables individual lenders around the world to fund
interest-free loans directly to small business owners and entrepreneurs in the US and Kenya, and
makes available SCORE mentoring. The Kiva Zip project does not charge interest (but there may be
associated fees), and a trustee may be charged with determining trustworthiness (though not
necessarily creditworthiness).
Federal High Tech/R&D Grants
Small Business Innovation Research (SBIR) Programs. The federal government does provide grants
to small business engaged in scientific research and development (R&D) under the Small Business
Innovation Research (SBIR) Programs. Grants are available to specific industries and targeted causes
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identified by the Federal Government, such as scientific and medical research, conservation efforts,
etc. These programs are overseen by the SBA, with participation from the following Federal
Agencies, each of which has their own SBIR Program and awards grants to stimulate high-tech
innovations, with 300 such grants having been awarded in 2014, averaging $624,807 each:
Department of Agriculture
Department of Commerce - National Institute of Standards and Technology
Department of Commerce - National Oceanic and Atmospheric Administration
Department of Defense
Department of Education
Department of Energy
Department of Health and Human Services
Department of Homeland Security
Department of Transportation
Environmental Protection Agency
National Aeronautics and Space Administration
National Science Foundation
Common Grant Application Form/Common Grant Report Form
Small Business Technology Transfer (STTR) Programs. STTR are companion programs that further
expand funding opportunities in the Federal innovation research and development (R&D) arena.
Central to the program is expansion of the public/private sector partnership to include the joint
venture opportunities for small businesses and nonprofit research institutions. The unique feature of
the STTR programs is the requirement for the small business to formally collaborate with a research
institution. STTR's most important role is to bridge the gap between performance of basic science
and commercialization of resulting innovations. Each year, Federal agencies with extramural
research and development (R&D) budgets that exceed $1 billion are required to reserve 0.3% of the
extramural research budget for STTR awards to small businesses. These agencies designate R&D
topics and accept proposals. Currently, five agencies participate in the STTR Programs, making
awards on a competitive basis after proposal evaluation, to wit:
Department of Defense
Department of Energy
Department of Health and Human Services
National Aeronautics and Space Administration
National Science Foundation
SBIR and STTR Programs are lucrative for small business, awarding more than $2 billion each year.
Both require a tight match with exacting requirements.
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Local Tech Grants

There are reportedly dozens of organizations that invest in local tech companies with growth
potential. For example, TechColumbus, Columbus, Ohio, offers "TechGenesis Grants" of up to
$50,000 to enable entrepreneurs to test their ideas to see if they have business potential. Other
such organizations are the Maine Technology Institute, Gardiner, Maine, and the Ben Franklin
Partnership, Philadelphia, Pennsylvania. In Pittsburgh it is The Pittsburgh Entrepreneur Fund, whose
goal is to assist entrepreneurs and stimulate business growth in the City of Pittsburgh. This may
include emerging technology based firms such as Information Technology, Life Sciences and
Green/Energy and other innovation enterprises. The fund provides loans for working capital and
related start up costs to early stage firms with high growth potential. Range of funding is up to 60%
of total project cost or $200,000, and may include debt that is convertible into equity (convertible
debt).
Economic Development Grants and Programs
Government-sponsored Grants and/or Programs are for businesses to become more
environmentally friendly, to attract new businesses, to train workers, to help existing firms to
expand, etc. Examples include the Central Oregon Intergovernmental Council giving businesses
workforce training grants; the Illinois Department of Commerce and Economic Opportunity offering
matching grants to businesses to expand and modernize their recycling programs; State
Unemployment Insurance Tax Agencies offering workforce training funds such as Massachusetts'
annually offering funding in the eight-figures; State Manufacturing Extension Partnerships such as
Enterprise Minnesota providing Minnesota-based manufacturing companies with matching grants
for process improvement or staff development and New York's Empire State Development, through
its Manufacturing Assistance Program, offering to manufacturers with as few as 50 employees
capital grants of up to $1 million. The Pittsburgh Mainstreets Program works to develop and execute
revitalization strategies in consultation with community groups, residents, businesses and
government officials. A prime example is Penn Avenue in Bloomfield-Garfield where more than 15
small art galleries and studios, several private design firms, a dance company, two cafs, a coworking space, 3 architecture firms, and a cluster of non-profits have opened on this avenue.
Moreover, a mixed-income loft community, complete with an upscale Mexican restaurant, now
occupies the site of several, formerly abandoned properties, and the avenue has also attracted a
high-profile childrens adoption and rehabilitation center, a major hospital and a very visible and
modern senior care center. Another program, the Pittsburgh Biz Buzz Small Grant program
(maximum Biz Buzz grant award is $7,000) is designed to spur neighborhood business district
revitalization through short and medium term projects and activities aimed at bringing newcomers
(merchants and customers) into the neighborhood business district, and create a "buzz" about the
business district through media and word-of-mouth.
Grantmakers of Western Pennsylvania (GWP)
Grantmakers of Western Pennsylvania (GWP) was formed in 1985 for the purpose of promoting
excellence in philanthropy supporting an effective, growing philanthropic community that
strengthens the region it services of 26 counties in Western Pennsylvania from Armstrong County
in the north to Fayette County in the south. It is a nonprofit trade association of Grantmakers
with over 80 philanthropic organization members. GWP does not itself make grants or provide any
financial assistance. GWP does help Grant Seekers by providing them with the Common Grant
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Application Form and the Common Grant Report Form that can be utilized when seeking grants
from participating local nonprofit agencies and/or funding organizations, and periodically offering
introductory workshops on how to use the Common Grant Application and Report Forms. When
using their forms, GWP notes that all request for grants based on the Common Grant Application
Form should be forwarded directly to a funding organization (not to GWP), since GWP itself does not
make grants, and that many funders request an initial letter of inquiry (LOI) prior to submitting a
full proposal.
Grantseeking and Business Databases
Carnegie Library of Pittsburgh at its downtown Smithfield Street Business Center and/or at its
Nonprofit Resource Center in the Main Library in Oakland offers both extensive Business Databases
and Grantseeking Databases, invaluable tools in developing funding sources. One-on-one sessions
with experienced Carnegie Library librarians are also available to assist in mining these databases.
Calling in advance to schedule appointments and locations is recommended by the Library.
Small Business Administration (SBA) Guarantees
The Small Business Administration (SBA) provides guarantees to banks and lenders for the money
these banks and lenders lend to approved small businesses owners. These guarantees help protect
the lenders interests by promising to pay a portion of the loan back if the business owner defaults on
the loan. Thus, when a business applies for an "SBA loan" it is actually applying for a commercial loan
through a bank or authorized SBA lender, structured in accordance with SBA requirements and backstopped by an SBA guarantee. Interest is charged and fees may be applicable.
Small Business Administration (SBA) Microloans
Bangladesh, the inheritor of Ancient Bengals over four millennia of civilization, was the incubator of
the Microloan. It was in 1983, a dozen years after Bangladeshs revolutionary war breaking away
from Pakistan, that the newly founded Bangladeshi bank, the Grameen Bank, pioneered the
revolutionary concept of Microfinancing to provide small loans to the poor in depressed rural
areas. This concept caught on globally, but not until 2009 in the United States when the American
Recovery and Reinvestment Act (ARRA) was enacted. Quite often Microloans are sought to provide
financing to entrepreneurs for whom traditional bank financing is unattainable and/or where small
business start-up costs and other financial barriers are prohibitively high. Under the ARRA the SBA
received $54 million earmarked for its Microloan Program to provide small loans (loans up to
$50,000) to low-income people who are small business owners and/or would-be entrepreneurs, to
start and grow small businesses. The SBA Microloan Program provides small, short-term loans to
small business concerns and certain types of non-profit child-care centers. The Small Business
Administration (SBA) makes funds available through a relatively small number of specially
designated intermediary lenders, who are non-profit community-based organizations with
experience in lending as well as in providing management and technical assistance to small
businesses. These intermediary lenders make loans to eligible borrowers up to a maximum of
$50,000, but the average microloan is about $13,000, with interest rates typically between 8 and 13
percent. Reportedly, anyone can apply for a microloan although these lenders more often favor
people with low cash reserves or poor credit as well as those in rural or disadvantaged communities.
Microloans must be repaid in six years and can be used for working capital, buying inventory or
supplies, buying furniture or fixtures and buying machinery or equipment. Proceeds from a
microloan cannot be used to pay existing debts or to purchase real estate. Moreover, many micro5

financing institutions also offer specific micro-financing programs for women-owned businesses,
environmentally responsible businesses, veterans and specific business-types; and not all
Microlending is funded through the SBA. Participating intermediaries may, thus, also operate their
own loan funds which do not need to conform to SBA loan regulations. One such Microlender,
discussed earlier, is Kiva Zip, a special project of the Crowd Funder Kiva (and a SCORE but not an SBA
affiliate), which arranges for seed money to make Microloans that must be repaid, but are interest
free. A Bakers Dozen of SBA Microloan Intermediary Lenders were listed for Pennsylvania in the
2014 SBA Participating Microloan Intermediaries Report, only four being listed as serving Allegheny
County, to wit:
Pennsylvania Bridgeway Capital, Pittsburgh, PA 15219 - Service Area: Erie, Lawrence, Mercer,
Venango, Allegheny, Crawford, Beaver, Butler, Indiana, Clarion, Armstrong
Pennsylvania Christian Evangelistic Economic Development, Pittsburgh, PA 15206 - Service Area:
Allegheny, Armstrong, Beaver, Butler, Westmoreland, Greene, Indiana, Lawrence, Washington,
Fayette
Pennsylvania Community First Fund, Lancaster, PA 17603 - Service Area: Franklin, Montgomery,
Schuylkill, Adams, Berks, Cumberland, Chester, Lancaster, Lebanon, Perry, York, Carbon, Dauphin
Pennsylvania Cooperative Business Assistance Corporation, Camden, NJ 08102 - Service Area:
Philadelphia
Pennsylvania Enterprise Center Capital Corporation, Philadelphia, PA 19139 - Service Area:
Delaware, Montgomery, Philadelphia
Pennsylvania Finanta, Philadelphia, PA 19122 - Service Area: Philadelphia
Pennsylvania First State Community Loan Fund, Wilmington, DE 19801 - Service Area: Delaware,
Chester
Pennsylvania Johnstown Area Regional Industries, Inc., Johnstown, PA 15901 - Service Area:
Somerset, Cambria
Pennsylvania MetroAction, Inc., Scranton, PA 18501-0431 - Service Area: Lackawanna, Luzerne,
Monroe, Carbon, Wyoming, Schuylkill, Susquehanna, Wayne, Pike
Pennsylvania North Central PA Regional Planning & Dev. Commission, Ridgway, PA 15853 - Service
Area: Cameron, Clearfield, Potter, Jefferson, McKean, Elk
Pennsylvania Northside Community Development Fund, Pittsburgh, PA 15212 - Service Area:
Allegheny
Pennsylvania Washington County Council on Economic Development, Washington, PA 15301 Service Area: Fayette, Beaver, Washington, Westmoreland, Greene, Allegheny
Pennsylvania Women's Opportunities Resource Center, Philadelphia, PA 19103 - Service Area: Bucks,
Chester, Montgomery, Philadelphia
Bridgeway Capital
Bridgeway Capital, a non-profit lender originally named Community Loan Fund of Southwestern
Pennsylvania (CL Fund), proudly states "we are literally 'bridging the way' from entrepreneurial ideas
to actual business growth and economic impact." They do so by providing unconventional financing
to entrepreneurs and other small businesses looking to grow beyond their collateral base, giving all
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small businesses "from the start-up entrepreneur to the established business" an opportunity to
grow. Started in 1990 as a housing and social service lender, Bridgeway Capital was founded in
response to the devastating impact on the economy after the steel industry collapse. The Pittsburgh
region alone lost 158,000 manufacturing jobs from 1970-1990, and many younger workers were
released into the market to find other employment. "We work to reach small businesses and
organizations where they need it most - with available capital. Bridgeway Capital makes loans and
connects entrepreneurs with business education opportunities. We are a market-driven, private
sector financial intermediary with a social mission, and we make a small amount of resources go a
long way. Working outside the margins of mainstream finance to provide opportunities and access
to capital, we strive for maximum impact across western Pennsylvania.... By providing capital to
grow and innovate, and educational opportunities to build entrepreneurial capacity, Bridgeway
Capital generates new prospects for business and job growth, brings new wealth to the region, and
preserves critical social services to catalyze regional economic growth. This growth must include
opportunities for all members of society, including racial and ethnic minorities and women, to fully
participate in a thriving economy." Thus, in 2009, the year after changing its name, Bridgeway
placed 83 loans for $7.4 million; 43 loans went to entrepreneurs for $1.5 million, of which 52%
went to women-owned businesses. Also, 73% of financing went to low-income people.
Pennsylvania Bridgeway Capital is listed as being one of the only four SBA Microloan Intermediary
Lenders serving Allegheny County (2014 SBA Participating Microloan Intermediaries Report ).
Minority-Owned, Disadvantaged, Woman-Owned or Veteran-Owned Small Business Certifications
Federal and State Governments under specified circumstances may give priority for grants or
contract awards to Minority-Owned, Disadvantaged, Woman-Owned or Veteran-Owned Small
Businesses. Businesses Certified as a Disadvantaged Business Enterprise (DBE) by the Allegheny
County Department of Minority, Women and Disadvantaged Business Enterprise (MWDBE) are
eligible to bid on Federal Transportation related contracts. DBE Certification is recognized by
Federal, State, and Local governmental entities in meeting participation requirements on contracting
opportunities. DBE certification designation is also recognized broadly by industry and corporate
entities seeking women and minority business participation on contracts. To be eligible a firm must
be 51% owned and controlled by a socially and economically disadvantaged individual or individuals
who are U.S. Citizens or lawfully admitted permanent residents of the U.S. and are socially and
economically disadvantaged Individuals who are women, Black Americans, Hispanic Americans,
Native Americans, Asian-Pacific Americans, Subcontinent Asian Americans, or other minorities found
to be disadvantaged by the SBA. Their Personal Net Worth must not exceed $1.32 million dollars and
the firm must meet the SBAs business size standard and not exceed $22.41 million in annual gross
receipts over the firms previous three fiscal years.
The Urban Redevelopment Authority of Pittsburgh (URA)
The Urban Redevelopment Authority of Pittsburgh (URA) is the City of Pittsburgh's economic
development agency whose goals are to create jobs, increase the city's tax base, and improve the
vitality of businesses, neighborhoods, and the City's liveability as a whole. Incorporated in 1946, the
URA was one of the first redevelopment authorities in Pennsylvania. Organized by corporate and
civic leaders, the URA undertook the first privately financed downtown redevelopment project in the
United States -- Gateway Center. Since then, the URA has constructed and rehabilitated tens of
thousands of homes, reclaimed thousands of acres of contaminated brownfield and riverfront sites,
and assisted hundreds of businesses in neighborhoods throughout the City of Pittsburgh. The URA
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encourages and directs private investment in business and business facilities in Pittsburgh. Through
a suite of loan programs, the URA's Center for Innovation and Entrepreneurship helps businesses
leverage the capital necessary for their growth and success including building a new facility to
accommodate expansion, seeking working capital to underwrite growth, purchasing or leasing new
equipment, or all three.
Pennsylvania Department of Community and Economic Development (DCED)
Pennsylvania Department of Community and Economic Development (DCED) fosters opportunities
for businesses to grow and for communities to succeed and thrive in a global economy. In
furtherance of this mission a number of Programs to assist small business are available through the
DCEF including, among others, the following:
Pennsylvania Industrial Development Authority (PIDA), providing low-interest loans and lines of
credit for eligible businesses that commit to creating and retaining full-time jobs, and for the
development of industrial parks and multi-tenant facilities. Loan applications are packaged and
underwritten by a network of certified economic development organizations (CEDOs) that partner
with PIDA to administer the program. Consolidated with and now part of the PIDA Loan Program are
The Small Business First Program (SBF) providing funding for small businesses including low-interest
loan financing for land and building acquisition and construction, machinery and equipment
purchases and working capital; the Community Economic Development Loan Program (CED) and
the Machinery and Equipment Loan Fund (MELF) providing low-interest financing for a portion of
the costs of land, building, machinery and equipment to businesses unable to fully finance these
projects with equity, bank financing, or other private and public sources; the Export Financing
Program (EFP) designed to increase the level of foreign exports and the number of exporting
companies in Pennsylvania; and the Pollution Prevention Assistance Account Program (PPAA)
providing low interest loans to small businesses undertaking within Pennsylvania projects that
reduce waste, pollution or energy use. The goal here is to increase the competitiveness, productivity
and value of Pennsylvanias businesses, in conjunction with other State and local financing programs
and other economic development programs.
Pennsylvania Small Business Credit Initiative Program (SSBCI), designed, through the DCEF, to
increase access to credit for small businesses. Small Business Credit Initiative funds are deployed
through existing DCED programs to partner organizations and the Machinery and Equipment Loan
Fund (MELF).
Keystone Communities Program (KCP), assisting, through the DCEF, Pennsylvania communities in
achieving revitalization by funding designated communities that are implementing Main Street, Elm
Street, Enterprise Zone efforts or other community development efforts.
Renewable Energy Program (REP) and Solar Energy Program (SEP), providing, through the DCEF,
financial assistance for Solar Energy, Geothermal and Wind Projects in the forms of grant and loan
funds to promote the use of alternative energy in Pennsylvania. The programs are administered
jointly by the DCED and the Department of Environmental Protection (DEP) under the direction of
the Pennsylvania Financing Authority.
Market Access Grant (MAG), designed, through the DCEF, to enhance the capability of qualifying
small and mid-sized Pennsylvania companies seeking financial assistance and foreign market entry
support to increase export sales.
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New Pennsylvania Venture Guarantee Program (NPVGP), providing, through the DCEF, guarantees
to top-tier venture capital partnerships for investments in growth stage Pennsylvania companies,
allowing the State to more actively partner with the venture capital community by structuring a
program that guarantees up to a total of $250 million on the first losses of equity investments made
in Pennsylvania companies by qualified venture capital firms. In return, these investment guarantees
will provide an additional $250 million in syndicated investments, leveraging a total pool of $500
million in new working capital available for Pennsylvania growth-stage companies.
Global Access Program (GAP), designed, through the DCEF, to enhance the capability of small and
mid-sized Pennsylvania companies to increase export sales by providing a valuable tool to qualifying
companies seeking financial assistance and foreign market entry support.
Business Opportunities Fund (BOF), providing, through the DCEF, installment loans, lines of credit
and technical assistance for minority business enterprises, women-owned business enterprises and
small businesses for cash flow/working capital, business operation, expansion expenses, equipment,
leasehold improvements and acquisition of owner-occupied real estate.
Pennsylvania Minority Business Development Authority (PMBDA), providing, through the DCEF,
low-interest loan financing to businesses owned and operated by ethnic minorities for land and
building acquisition, building construction and renovation, machinery and equipment acquisition and
installation; and working capital funding manufacturing, industries, high-tech, international trade or
franchising. Loans are up to $500,000 (within Enterprise Zone, $750,000) or 75% of total eligible
project costs, whichever is less.
Innovation Works (IW)
Innovation Works (IW) invests capital, business expertise and other resources into high-potential
companies with the greatest likelihood for regional economic impact and is the single largest
investor in seed-stage companies in Southwestern PA, being one of the most active such
organization in the country. IW provides grants to help speed commercialization through early-stage
companies or third-party licensing; and through its AlphaLab accelerator programs funding, free
office space and mentorship. Since its launch in 1999, IW has supported more than 200 companies
with investments totaling $62.1 million. In 2014, it provided $5.6 million in financial assistance at the
riskiest phases of company development; and through its seed fund and accelerator companies was
successful in attracting nearly $164 million in investment from venture capitalists (VCs), angel
investors, corporate/strategic investors and other sources. To date, more than 100 VCs from across
the United States have invested in IW-funded companies. Thus IW has helped to catalyze more than
$1.6 billion in total investment. As part of the Ben Franklin Technology Partners, IW receives funding
through the Pennsylvania Department of Community and Economic Development, and also receives
funding from area foundations. IW helps small manufacturers with funds and with connections to
the regions Centers of Excellence, to help develop new products, processes and gain a competitive
advantage as they look to open new markets by adapting new technologies to their products and
processes; and Innovation Works helps researchers commercialize ideas. Its areas of interest include
Life Sciences, Software, Hardware, Electronics, Advanced Materials, Robotics, Energy and Consumer
Products.

Keystone Opportunity Zones (KOZs)

Keystone Opportunity Zones (KOZs), labeled by Business Facilities Magazine "the number one
economic development strategy in the nation", eliminates certain state and local taxes within
specific underdeveloped and underutilized geographic areas. Since the Keystone Opportunity Zone
programs inception in 1999, it has led to the creation of 19,673 new jobs, retained 11,622 jobs and
produced since 2010 $8,015,559,557 capital investment in real estate. Each Zone is comprised of
parcel-specific sub-zones in various sizes totaling no more than 350 acres. Sub-zones must be at least
10 acres in rural areas, or 20 acres in urban areas. Binding ordinances and resolutions are passed by
local taxing bodies granting the waiver, abatement or exemption of certain state and local taxes and
depending on the situation the tax burden may be reduced to zero through such exemptions,
deductions, abatements and credits for the following taxing areas:
State Taxes:
Corporate Net Income Taxes
Capital Stock Tax
Foreign Franchise Tax
Personal Income Tax
Sales Tax
Use Tax
Bank Shares Tax
Trust Company Shares Tax
Alternative Bank and Trust Company Shares Tax
Mutual Thrift Institutions Tax,
Insurance Premiums Tax
And Local Taxes:
Earned Income/Net Profits Tax
Business Gross Receipts Tax
Business Occupancy Tax
Business Privilege Tax
Mercantile Tax
Local Real Property Tax
Sales Tax
Use Tax
The length of such Tax Relief and longevity of such Keystone Opportunity Zones vary.
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Foundation Economic Development Funds

Three Pittsburgh Foundations rank asset-wise among the top 100 Foundations Nationwide, "the
Richard King Mellon Foundation, 37th largest with $1.9 billion in assets; the Heinz Endowments,
48th with $1.4 billion in assets; and the Pittsburgh Foundation, 79th," with assets over $1 billion, the
largest of them awarding grants annually in recent years in the very high eight figures. Moreover,
the Pittsburgh Foundation, one of the nations oldest community foundations (established in 1945),
is the 13th largest of the more than 750 community foundations across the United States,
administers over 1,900 individual donor funds. These Foundation, and many others, are interested in
funding those extra-special Southwestern Pennsylvania programs that foster "economic
development", as well as fostering conservation, education, human services, etc., etc., etc. That's
what your Business Plan demonstrates, doesnt it? Do your research, be creative! Who knows which
Foundation could be your Golden Goose?
Commercial Sources
When seeking a small business loan or line of credit, consider Credit Unions and Community Banks
as you may find them to be friendlier to small business borrowers and may offer lower interest rates
than traditional banking sources, but do not rule out the more traditional banks as all such funding
sources desire to be able to boast that they have nurtured the next Wal-Mart, Amazon, Microsoft
and/or Apple.
Dare To Dream Grant Program
The Dare to Dream Grant Program encourages students to move through the business creation
process by offering business development seminars and up to $10,000 in funding. In Pittsburgh CMU
has participated. There are also other such college sponsored programs. In planning your own Small
Business be creative ---- Dare To Dream!
To Sum Up!
So, in sum, thats where some of the money is! If this sum is not sufficient for your needs, keep
researching and applying. Believe it or not somewhere out there the funding you need may just be
sitting there unclaimed, just because no one yet has had the imagination and gumption to seek it out
and find it! And that about sums it up.

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