Adam, if someone asked you for money to build or support a racing project, what questions would you ask? I think the first one is what is my return on investment. If you think along those lines then you might be more successful in your efforts. For example in top fuel, Baca runs his dragster with American Racing Wheels as the flagship sponsor. To do this Baca became a distributor of American Racing Wheels and created a staff to sell wheels to the large outlets! Some of the large sponsors want a 5 (or more) return on every dollar invested.
Be creative and think outside the box and you will be able to get sponsors. Just remember to think of moving product to create a win-win.
Jeff