5 millionaires and organizations that give money to start up businesses

If you need money to start a business, learn about the millionaires giving away money to start-up new business. Finding funds to start or develop your business can be a daunting task, especially in hard economic times. However, millionaires give money to budding entrepreneurs every day. Get money from millionaires by learning how to find millionaires and their resources.

Most millionaires tend to funnel money through a nonprofit organization or their foundation. Millionaires in the USA are some of the most charitable individuals and give away billions of dollars each year. Most millionaires made their money from pursuing an entrepreneurial endeavor, so they want to give back and help others find the same success.

There are several ways you may be able to get money to start a business, including grants, financing and loans. Grants are usually given to individuals that show a need for the money or are willing to develop a business in an under-served or underdeveloped area. Loans are given to individuals by millionaires with the understanding that the original money lent will be paid back over a period of time.

Financing is another option that may be synonymous with investing. Some millionaires will choose to invest in an individual’s business if they receive an equity stake, such as 3-15 percent.

#1: Grant Finance Loans: T. David Franklin

T. David Franklin earned his millions from real estate investment in the Maine, Maryland and New Hampshire markets. In 1989, Franklin wanted to encourage entrepreneurial growth, so he took out an advertisement in a local paper offering to give money to help people start their own business.

His ad read, ''Local millionaire will put you in business. Street people and welfare applicants can apply.'' Applicants were required to submit a business plan.

Franklin chose 15 want-to-be entrepreneurs to start businesses. These businesses ranged from mail sorting for large corporations to blood sampling to housecleaning. Franklin offered not only money to help these individuals, but also offered to be a mentor and help manage the new businesses.

While Franklin no longer offers this opportunity, you never know when your local millionaire will be scouting to invest in your dream. Check out your local newspaper, craigslist ads and other advertising venues frequently to take advantage of any opportunity that may arise.

#2: Bill Ackman

Bill Ackman made his millions founding a hedge-fund firm, Pershing Square Capital Management. Ackman donates approximately $59 million each year to his Pershing Square Foundation, an organization that supports education, entrepreneurial endeavors and human rights.

This foundation funnels money to Root Capital, a nonprofit entrepreneurial investment fund that lends money, host financial training and supports market connections in vulnerable countries, such as Africa and Latin America. Root Capital specifically caters to developing and growing small agricultural businesses.

#3: Global Entrepreneurship Program

The Global Entrepreneurship Program promotes entrepreneurial development and is funded by numerous millionaires and their supporting organizations, as well as the government and educational institutions.

While this program is primarily led by the government, it is funded by public and private partnerships, such as Google, the Kauffman Foundation and Saratoga Capital. This program sponsors entrepreneurial endeavors worldwide; however, recently, much of their efforts have focused on northern Africa.

If you would like to learn more about sponsorship opportunities through the Global Entrepreneurship Program.

#4: Ewing Kauffman

Ewing Kauffman was a mega millionaire that made his millions from his massive pharmaceutical company. He funneled many of his millions into his foundation, the Ewing Marion Kauffman Foundation.

The mission of this foundation is to foster individuals to become economically independent that engage and contribute to their community. The foundation has two primary focuses: 1) advancing entrepreneurship and 2) improving educational opportunities for youth.

There are three programs established to directly support individuals wanting to start up their own business one day. The Kauffman Global Scholars Program helps international entrepreneurship by bringing young entrepreneurs from international cultures to America.

The Kauffman Campuses initiative assists colleges and universities to make entrepreneurship education by allowing any student access entrepreneurial training. Additionally, FastTrac is a program that helps develop a business through a mentorship program by honing skills for managing, developing and creating a successful business.

#5: Angel Capital Association

Angel Capital Association is an amazing organization that pairs budding entrepreneurs with millionaires and other successful entrepreneurs and brings them together with millionaires who want to help people.

Basically, the millionaires invest money in a budding entrepreneurial business for an equity share of the business and are appropriately called “angels.” In 2008, angels invested more than $19 billion in over 55,000 starting businesses.

Angels may invest anywhere between $5,000 to $100,000 or even more. If you are interested in learning how to become sponsored by an angel, go to the following website Angels.

Needing help with my finances...

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