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    5 Replies Latest reply on Dec 19, 2007 1:58 PM by LUCKIEST

    Got grants, anyone?

    42n8lady Newbie
      We're starting a Tool and Die Manufacturing company. We had this same kind of business in the Philippines some years back and from a backyard operation transformed it into a multi-million endeavor.We made the mistake of concentrating our production to a few select giant companies and when the political and financial situation in Asia became unstable, we were hit by large accounts receivables from them. Our operation at that time was able to get a grant equivalent to $350.000.00 from a government trade agency.
      There is a need, here in the US, for our expertise in this business, to service small-to-medium-sized industries. Our engineers are so talented that we are confident that we can fabricate many of those items which are currently being imported from China. We have done our homework and we are just putting the finishing touches on our 1-5 year financial plan.

      Our group is composed mostly of Asians and the frontrunners are women.
      I would truly appreciate some advice on how to proceed and maybe get more information on the different agencies which we can approach, or other companies which may JV with us.
        • Re: Got grants, anyone?
          LUCKIEST Guide
          Welcome. Sounds very interesting. It is exciting to know that you had
          this same kind of business in the Philippines some years back. I would
          like to see the 1-5 year financial plan, whenfinished.

          Tell us more about Hearttugs Inc (the mother umbrella for several business entities).
            • Re: Got grants, anyone?
              42n8lady Newbie
              Luckiest, I also thank you for your e-mail reminders to visit this forum. I can't remember now how I chanced upon this site but I am truly happy that I did. Everyone seems sincere in their efforts to help, even as far as exposing/questioning undesirable posts. I, myself, fall prey to those "very good" deals.

              Hearttugs is an acronym for *heart'*s *t*otally *u*nique *g*ift*s* which is the company's motto of doing business with a social conscience. As for the other companies under it, life has a way of surprising us when our intentions are good ( : which means I prefer to keep quiet about them : ) I shall write something else there when I have the time.

              Please keep sending me those e-mail reminders.
            • Re: Got grants, anyone?
              DomainDiva Ranger
              There are grants that are geared for women in business. You will need a DUNS (DUN & Bradstreet) number and can obtain one online. There are also websites that package all of the infromation for you. The best one I have found is Creative Fusion, 300.00 for the package and you get a mentor as well to help you through it. (I am using them as well) The grant process is long and convoluted....if you stick to it there is money at the end.
                • Re: Got grants, anyone?
                  42n8lady Newbie
                  Many, many thanks for your help. My worry was that we think differently and that here, in the US, we're like ducks out of the water (did I get this right?) However, a good and sound business plan should be able to stand on its own, right? Initially, we're thinking of having a joint venture with another company, maybe become its subsidiary so that we can market to its existing clients. However, this may limit us as far as decision-making is concerned. We estimate a sale of more than 1 M in its first year of operation.
                  We do need a lot of cash because we need to rent a building (est. $20,000/mo) and the machineries cost a lot too. We'll have to steal, beg or borrow, so to speak, when we start, get some used and very much depreciated machineries and make them work. This is one of our strengths actually and we're all very passionate about this because we also believe in recycling and saving the environment.
                  Your experience in this gives me more confidence in accelerating our time-table.

                  I also plan to support the sales effort by having a web presence. I have a group of brilliant engineers back home whom I will tap for a forum, such as this, for those in the business, willing to work for pennies on the dollar (because of the exchange rate) and have a consulting side ultimately as a back-end product. The possibilities are endless.......

                  By the way, I'm a professional real estate investor, kinda far from this manufacturing thingy.
                  I have been waiting all night/morning for somebody to reply to my query and I was just about to lose hope, believing that the only way was to get a loan. So, from the bottom of my heart, I do thank you.