Funding is available for all manufacturers. The programs include low interest loans, forgivable or straight up grants, money that off-sets the cost of a new employee, etc. Since there are so many programs from both the state and federal government, it can be overwhelming to keep track of to say the least. That’s what we do at CTmrg.
Although low interest loans are important, we like to focus on the “free” money. The first step in the process is finding out what you qualify for. Some programs are for companies with less than 100 employees, others require a loss of income due to overseas competition and there are those that the only requirement is being a manufacturer.
The other thing to consider is how you’re going to use the money. For example: if you receive two grants where one is good for equipment only and the other can be used for equipment and business development, you’ll want to be sure not to use all your money from loan two on equipment. We work with our clients to create a plan for not only obtaining funding but also how to spend your dollars.
Funding programs can be used for…
- Purchase Equipment
- Business Development
- Off-Set Cost of New Employees
- Training and Apprenticeships
- International Trade Shows
Whether you’ve used funding in the past or not, give us a call to see if there’s more money out there for the taking. And whatever you do… Don’t order un-funded equipment without giving us a call first!