+1 773 649 1774Grants to Start a Trucking Company
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If you’re starting your own trucking company, a grant could be a great way to finance it. Learn more about getting grants at the state and federal levels.
If you’re starting your own trucking company, a grant could be a great way to finance it. Learn more about getting grants at the state and federal levels.
If you have made a living driving a truck for a number of years, you may have decided that starting your own trucking company could be an excellent financial move. Owning a trucking company could substantially increase your income; however, the cost of starting a trucking company can also be substantial. One option for start-up funding is to locate and apply for grants that may help you raise the necessary capital to start your company.
Business Plan
Before you even begin to look for grants, you should create a detailed business plan. A business plan should have at least four important sections. First, you need to describe your business by explaining what types of trucks you plan to use, whether you will be in-state, national or international, and additional details about your business. Next, include a marketing section where you will explain how you plan to market your company. Your financial section should follow. Although you plan to apply for grants, you will need to explain what other start-up capital is available to you. Finally, explain how the company will be run in a management section. To read more about How to Write a Trucking Business Plan go here .
Locating Grants
Locating available grants can take time and patience. Federal grants can be easily searched for on the grants.gov website. Most individual states also have an office devoted to administering state grants along with a corresponding website that can be searched. Private grants can be located through a number of online resources; however, you may need to search a number of websites to locate all available private grants. Grants are updated on a regular basis, so be sure to check back if you don’t find one that applies on your first search.
Writing a Grant Proposal
Most grants require you to write a grant proposal. The required information for a proposal will vary by grant, but generally includes a detailed explanation of how the grant money will be used and why you deserve the grant. Hiring a grant writer is not required; however, you may wish to consider doing so. Writing a grant proposal is more complicated than it sounds. There are professionals who specialize in writing grant proposals, and investing in their services may increase your chances of being awarded the grant.
Additional Assistance
While there are a number of companies that will help you start your trucking business and apply for grants, the Small Business Administration is an excellent – and free – resource. The SBA can help you write your business plan, locate funding and market your business.