One in every three adults in the United States of America has a criminal record. In light of this fact, it is surprising to note that ex-felons are discriminated against in the job market. In many cases, felons come to realize that it is best if they run a business. So, it is only right if loans and grants for felons in Texas are maximized.
Felons are not the only sections of society that will benefit from doing business. If one dreams of being an entrepreneur, one should be running a business. If you start a venture that you are passionate about, you’ll end up being your own boss.
Now, there’s no shortage of people who have bright business ideas with them. But, the point where they are lagging is that they do not have sufficient funding to start a business. It is at such an hour that grants and loans come to the rescue of a budding entrepreneur.
In this article, we have brought together a list of grants for felons in Texas and loans that are available specifically for felons when they intend to start a business. So, if you have recently been feeling bad about not having a job, you could take benefit from these grants and set up a business of your own.
Grants Available For Felons
- FedEx Small Business Grant Contest
By being a part of this contest, ten applicants will be winning $50,000 which they would, in turn, use for setting up their business. Business services are provided alongside, and so is office print worth $4,000.
Even if you fail to end up in the list of top 10 winners, you can still get $20,000 as a grant alongside other resources that will help you set up a business.
The number of federal programs that are in place to give grants to felons is over 1,000. To discover these opportunities, you should be logging on to Grants.gov. This will let you find access to this federal grants program – an open workplace where you’ll be filling in your correct details. Next, you can start applying for the grants that you are eligible to get.
GrantWatch bears similarities to Grants.gov. This one’s a grant database that lets you find funding for your startup requirements. In case you plan to own and run a small business, you’ll discover that there are over 1,200 funding programs available on GrantWatch for the purpose, and you can apply for them.
You may subscribe for wider access to the database or get a free membership.
Loans Available For Felons
- Online small business loans
A host of small business loans will be made available online for you. Find the one that works the best for you based on ease of repayment and low-interest rates. Business loans for bad credit, unsecured business loans, and startup business loans are the top among them.
- Microloans from the US Small Business Administration
A host of useful loans are available via this program. While the processes are tedious, the loan amount can be as high as $50,000. So, it’s worth the stress.
At ReeCareer, we make rich resources available to make a fresh start to your life as an ex-felon. We offer housing support, job support, rehabilitation, and counselling.