Forums: Discussions for entrepreneurs and small business.

I am a senior at a regional university in Oklahoma. I am a business entrepreneurship major, and I`ll be taking an international entrepreneurship intersession class this May. As a supplement to this class, there is an optional 10 day excursion through Greece and Italy that offers a chance to explore business opportunities and markets on a more global level. I am currently helping with fundraising for this trip, but so far it hasn`t been a successful as we had hoped. Are there any resources for possible fundraising opportunities that would be advisable to seek out, or possible grants that may be available for such educational experiences? Any advice is greatly appreciated. Thank you.

There are travel grants available, but those that I found are a bit limited with regards to eligibility, meaning:

1.  Limited to students of a specific university
2.  Limited to traveling to a specific event

You probably have already done this, but check with your university to see if they have grant and/or fellowship programs.  And feel free to send me a p.m. with the name of your university and maybe some more information on your program and I`ll look up some more grant info for you.

As a side note, if you were traveling to explore something like social entrepreneurship or social ventures, that would open up more grant opportunities.

Hope this helped!

Grant Gopher

Thank you so much! I will certainly do that. I`m definitely interested in speaking to you about this subject. Im a little inexperienced in this realm. So your advice will be of great help I`m sure. I attend East Central University, and can be found through the website www.ecok.edu.

Are there truly grants out there available for the "average" entreprenuer?

Hey DM-

Some people would have you believe that there`s a real free-for-all in government grants for entrepreneurs and small businesses just waiting to be had but don`t fall for the hype because I don`t care what anybody says-it`s just not that simple.

I`ve worked in grants (including government grants) for about 15 years. People will try and sell books, "secrets" and all sorts of things trying to get others to believe that they can help you get cash from the government for a business venture. Don`t fall for it. Yes, there are lots of government grant programs out there but they come with lots of strings attached.

Here`s a link to an excellent article on the subject: http://usgovinfo.about.com/library/weekly/aa060400a.htm

Thanks,
Ron

Me neither....it drives me up the flippin` wall when people try and make you believe that there is some sort of little known government grant fiesta out there just waiting to dole out millions of dollars. Yeah, there ARE government grant programs out there, but it`s just not that simple getting them and most important, anyone who tries to sell some sort of "secret" is more than likely up to something shady.

Ron

I have had about  people tell me they bought the Matt Lesko book, but never seen anyone get anything (nor try for that matter)

 

Traveling to various countries allows one to enlarge their understanding of the world, culture and learn to become solution oriented. Some schools such as East Central University understand its importance and envision its students to become global citizen. The following are reasons why ECU approved the service learning: Students will gain skills such as cooperation, communication, and setting and achieving goals, students are helping those people, animals, and organizations in need,

students will receive a total of hands on experience they can apply to their lives, it is an out of classroom experience that students rarely encounter, students will receive a better understanding of classroom materials and practice what they are learning, students will become aware of the needs of the community, and students will be more active in the community. In addition to this, they have created programs to support such unique educational approach.

“Loans can help you meet your educational expenses. We encourage you to borrow wisely so that you graduate with a manageable level of debt. Loans MUST be repaid with interest. You must repay loans even if you do not complete your education, are not able to get a job after you complete the program or are dissatisfied with the education for which you paid. First-time ECU borrowers must complete an entrance counseling session before loans will be certified and ECU borrowers who drop below half-time, graduate, or transfer to another school must complete an exit counseling session. Half-time enrollment for undergraduate students is 6 credit hours. Half-time enrollment for graduate students is 4 credit hours. Recent legislation eliminated the FFELP lenders in favor of the government's direct loan program. As a result, all loan borrowers will be required to complete a new Master Promissory Note and Direct Loan Entrance Counseling beginning with the Summer 2010 semester.”

Furthermore, the types of loans are as follows:

1. Lions-Alumni Student Loan Fund and Don Clawson Student Loan Fund

These funds are designed to aid students with short-term, low-cost loans to meet emergency expenses. The loan is to be repaid prior to pre-enrollment for the following semester. This type of loan does not require entrance and exit counseling. Students are required to have pending financial aid to qualify for this loan. The application may be obtained in the Bursar Office. There is a 12% annual interest charge for this loan.

 

2. Federal Perkins Student Loan Program

The Perkins Loan program makes long-term, low-interest loans to qualified students. East Central University is the lender and the loan is made with government funds. Repayment normally begins nine months after graduation, leaving school or dropping below half-time. East Central University may not deliver the first installment of Perkins Loan proceeds to a first time borrower until 30 days after the first day of classes (the 31st day). This loan may be up to $5500 per academic year. The borrower may not borrow over $27,500 as an undergraduate. The interest rate is 5 percent. This is a need-based loan. Funding is limited and the average loan is $1000 per semester. Priority is given to previous ECU Perkins borrowers.

 

3. Federal Stafford Loan Program (subsidized and unsubsidized - formerly GSL)

The Stafford Loan is a low interest loan guaranteed and funded by the federal government. Credit history is not a factor; no credit check is done to qualify for these loans. Students who defaulted on prior student loans are not eligible to borrow until the default status is resolved.

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