Grants for Truck Drivers to Start Their Own Business
Truck drivers may qualify for a variety of grants.
A variety of grants are available that may help you prepare for and start your own trucking business. Most of these grants were not designed specifically for the trucking industry but can still be used toward the startup costs of purchasing your own truck and equipment. In addition, you may be able to win contract bids of sufficient size that they will provide the startup funding you need.
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If you're considering starting your own trucking business from scratch, the very first step is to become a licensed truck driver. Truck driving school is treated just like any other trade school when it comes to financial aid. Pell grants, federal scholarships and student loans may be available through the Free Application for Student Aid, through Workforce Investement Act grants or other programs. The best place to start is the financial aid office of the trucking school you are considering. Office staff will be familiar with the programs that other students have used.
Trucker-specific grants
Most of the grants available specifically to the trucking industry are aimed at "green" initiatives, including the National Clean Diesel Campaign organized by the Environmental Protection Agency. This program provides grant funding to trucking companies for a variety of measures that reduce emissions. However, in many cases these grants only help to offset the higher cost of "greener" trucks and equipment, but don't provide enough funding to cover the entire cost of a truck and its necessary accessories.
General Grants
Some grants may be available to you that are not specifically for truck drivers. Grants.gov is an online resource that allows you to search and apply for open grants offerered by various agencies of the U.S. federal goverment. The lists change often and are sortable by agency, category or keyword. The Small Business Administration has a similar grant search feature on its website at SBA.gov. Many of the grants which may apply to trucking from either agency will be small business grants. In addition, if you are a female trucker, you may qualify for a vast array of public and private grants specifically for women-owned businesses.
SBA 8(a) Business Development
The SBA 8(a) program is not a grant of funds, but it may be extremely beneficial to a new business owner. If your application for enrollment is accepted, you will receive mentoring and counseling for free, plus the mentor may have contacts that will be helpful to you in your quest for funding. This is particularly applicable if your strategy is to secure a government contract and use it to pay for your startup expenses. In addition, the SBA does have a variety of loan programs available to its members.
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