Being an ex-felon is not the end of the world. However, it is undeniably true that ex-felons seem not to have a clear view on their life after leaving prison. Not only that they know they will find it hard to find a job, they also think that no one would ever trust them again especially when it comes to running a business. Good thing, grants for felons are now offered by different government agencies. This way, they will have the chance to start their lives outside prison.
Small Business Grants
This kind of grant is designed to help ex-prisoners connect with fund sources that will pave their path to running their own business. Not only that, these non-profit programs provide guidance through their mentoring programs and seminars. You can check out the business grants for ex-felons here.
There are no specific types of loans that can be availed by ex-felons. Therefore, they can’t just apply to any loan companies to finance their business. This is the reason why some of them take advantage of the educational grants. These grants will allow them to undergo trainings and get certificates, which they can use for their future ventures.
The Federal Pell Grants is one of the educational grants offered to all ex-felons excluding drug addicts. On the other hand, for those who want to get enough information about running a business, webinars are provided by SCORE. This is not only for those who haven’t started a business yet but, also for those who are already starting. They can take advantage of the mentorship programs of SCORE, wherein there would be a face-to-face interaction between the mentors and the ex-felons. Although it is never impossible for ex-felons to be approved on the grants not specifically made for them, they may get through a long process.
Grants from Informal/Angel Investors
There are investors who are willing to give ex-felons the chance to convince them that it is worth giving them a chance to run a business. Especially for those who have brilliant business ideas and plans, it is possible for some investors to support it by helping you avail certain loans. Additionally, there are business associations that may assist you to get a small loan to start a business like landscaping and plumbing.
The so called Second Chance Act also benefits ex-felons through employment advice and monitoring, although there may be differences on the program from state to state.
There are a lot of grants for felons offered by the government these days. This is good news not just to all ex-prisoners but to their families as well.