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Frequently Asked Questions
I just heard about Grand Rapids Opportunities for Women. What kinds of opportunities for women do you have? We are an economic development non-profit organization that helps women who want to start or expand their own businesses. We offer:
For more information, please click on services. [ top ] How do I know if GROW is right for my needs? Come to a free orientation session. These are held on the first Tuesday of each month from 6:00 to 7:00 p.m. and the second Thursday of each month from Noon to 1:00 p.m. in the GROW office at 25 Sheldon SE, Suite 210, in downtown Grand Rapids. The orientation will introduce you to all GROW services, explain how to register, enrollment dates, work expectations, and scholarship opportunities. All you need to do to attend is call in advance to reserve a seat (616.458.3404) or register through the calendar page on this website. [ top ] Where is GROW located? We are in the YWCA, 25 Sheldon SE, Grand Rapids, Michigan 49503. We are one intersection EAST of the major intersection of Fulton St. and Division Ave. Our office is on the second floor, suite 210. For specific driving directions, please call 616.458.3404. [ top ] Where can I get a loan? GROW is not a lending agency. You are welcome to call and we may be able to make some recommendations based on your specific case. [ top ] I have heard that there are grants out there for: (see list below) Where can I get one?
In spite of what people see on television or hear from friends, the fact is there's no government agency or private foundation handing out free money to start small businesses, regardless of the money-seeker's gender, ethnicity, or economic status. Everyday our office gets calls from people convinced there's 'free money' out there to fund business start-ups. The good news is that GROW is here to help you prepare for funding sources that you *can* pursue, such as business loans or private investors! The fact is that most grants are awarded to non-profit organizations. A few go to businesses that do research and development geared toward crucial government projects. These grants are extremely specific in nature and often quite technical. For example, there is a tiny grain of truth in those late-night TV infomercials. There's a program called 'Small Business Innovative Research' which does award grants of up to $100,000 to research ideas which seem promising, and then to develop products if the research is successful. However, most of these grants are for projects such as how to put a satellite into orbit and then repair it. These funds are not available to people who are interested in opening restaurants, hair salons, and other more common small businesses. If the government provided free money to everyone who wants to start a small business, it wouldn't last long. And can you imagine the outcry from taxpayers if their money was funding these risky ventures? The fact is that most new businesses are started with personal savings, loans from friends or relatives, or small commercial or personal loans. One reason this 'free money' myth is so prevalent is that people are looking for an alternative to the work and detail required to get a conventional loan. The idea of writing a business plan and approaching a lender can be intimidating. But aren't you more likely to succeed if you do the groundwork and research required? There's a reason procedures are in place for small business loans. One of the most important factors in obtaining a loan for a new business is the borrower's personal credit history. Lenders don't care if you're male, female, black, white, Asian, Hispanic, young or old. The bottom line is: Can you pay the money back? [ top ] How can I get more information about GROW? If you have further questions, please call us at 616.458.3404. [ top ] What if I start taking your classes and someone steals my business idea? You are able to talk about the category of your business (e.g. a coffeehouse) without telling more than you wish (e.g. a coffeehouse with a horticultural theme next to a public garden). Women in our classes often develop camaraderie and tend to help each other more than compete with each other. [ top ] How much do GROW services cost? The 10-week Minding Your Own Business (MYOB) course costs $200. The 7-week Financial Literacy course costs $50. The 4-week Marketing Plan Boot Camp costs $100. Workshops, such as UpClose and Executive Series fees vary based on the topic but are typically $25 per session. There are also discounted fees on courses and events depending on if you are a GROW client or a member of the Alliance of Women Entrepreneurs (AWE). Business counseling is free, as is participation at the networking roundtable series, Lunch with Punch. [ top ] Where should I park when I come to GROW? You can park in the lot on the Southwest corner of Division Ave. and Weston St. however, this lot serves the entire YWCA and its guests, and may have few spaces. Metered parking spots are available on the front side of the building (Sheldon Ave.)and on the south side (Weston St.). [ top ] |
