This doesn’t really pertain to factoring invoices specifically, but today Robert Brooke from CIT gave a tremendous presentation on grant money available from federal agencies. Apparently there is $2.3 billion awarded annually through these programs.
If you have an idea that you are working on and need capital to forward the concept these research funding programs might be valuable to you. The idea must have either social significance (the thing you create will make the world better) or be a product that a government agency is looking to buy (a device they need that hasn’t been invented yet).
This is not for daily operational cash flow. The application process can take 4 – 8 months. The two most widely known programs are Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR). The important factor to remember is that these are grants. There are no interest payments and you do not have to pay the money back. Again choose the right tool for the right job. It’s not for everybody.
If you think these programs might help you get in touch with
Robert Brooke
Center for Innovative Technology