How to get free grant money for small business – Every small business owner thinks that he or she can take his or her business to next level. But it is not easy as well. For this, they need to invest money in their business, so they can hire more employees for their business. But the question is how they can get money or who can invest money in their business. Another thing, if they get money on a loan then it will also create an additional problem for them if they did not repay the loan amount on time.
However, government, non-profits, and other big private companies understand the role of small businesses in the industry and also know those small businesses are the big source of employment. That’s why all of them come with different grant programs for all kinds of small businesses. Thus each type of small business can get help from those business grants and can rebuild or make improvements in their business. Although everyone knew that small businesses are badly affected by pandemics and because of this many small businesses come at the stage of closing, which means thousands of people also do unemployed. That’s why more and more grant programs are available to help small businesses.
IF you are also a small business owner and need help for your business then you can look for small business grant programs. It is because the grant money is free and you did not need to worry about repaying it. Thus you can use the money for your business and get a better chance to make your business better than before. In this article, you can see that various sources offer small business grants to various types of businesses and various people who owned small businesses. You just need to read the article and check how you can get a small business grant from those sources. So read continue and check for all types of grants and sources that help your business.
Highlights of this Post
What is a Government small business grant Program?
As there is numerous type of businesses are available. But when they did not get profit and start to lose their entity from the industry then they need grants. The grant is financial assistance that is given to various people, businesses, non-profit, or corporations. These grants are given to them from federal, state, county, or local governments, or private businesses and corporations. So that businesses that need help to come back in the industry will get benefit from the grant. That is called Small Business Grant. This grant is specially designed for those small businesses who need help to restart their business or face issues in their business.
Thus there are various companies, nonprofits, government agencies, and more that provides essentially free money to small business owners and help them for their business. They help them in the form of small business grants. The main and best thing about small business grants is that they did not need to pay back as the loan does.
However, grants are not formed easily, they are always formed to target businesses on various factors. That includes minority-owned businesses, specific for-profit businesses as well as non-profit organizations, veterans-owned businesses, grants for women, and lots more. Thus every type of business can get help to stand again in the industry and come back with something new.
You don’t have any need to create your pitch on “Shark Tank”, to refinance your home, or to take out small business loans to take your next step in your entrepreneurial journey. You can get help from small business grants or business grants according to your business type. You will get better help if you know how to apply for the grant and where to look for a grant. You will get better options and also get help with grant amounts that you did not need to repay.
Here you can see that numerous sources are available that are helpful to get small business grants. That means if there is any small business owner and need help with small business grant then they did not need to look for them anywhere. They can get help from the sources that are mentioned here and offer help with small business grants to needy small business owners. The majority of those small business grant applications is that you have to meet their eligibility requirements to get a business grant from them.
There is one thing that is important to keep in mind while applying for small business grants is that it can be a double-edged sword for you. However, you can apply for lots more business grants if you find that qualifications are broad. But it also means that competition is tough to get the grant amount. Apart from this, you can get more success by finding niche grants according to your business industry. Also, you will get grants based on your business structure and makeup that can give you a chance to qualify for a good grant amount that can help you to get success.
Thus, here you can see how small business owners will get help for their business with the business grants. Along with this, how they can enlist their business entities and get the best business proposals. You can see a list of small business grants as well as for specific businesses list. So that you did not waste your time and choose the business type and look for the grant according to that.
What Grant Money Available For Small Business
Grants should be considered as a part of a small business start up. In post-recession times to encourage growth the government is making a price record accessible. And the companies accept grants. This is a great offer that is difficult to let go of. When it comes to grants for small businesses grant for start-ups, small business owners typically have a lot of doubts and misunderstandings.
Many even live under the impression that their businesses won’t be able to qualify because it is too conventional or brings profit. However, these are all false beliefs. Regardless of your business structure, revenue, or industry you are eligible for small business grants.
With a large number of government and state grants, many organizations have a decent possibility of getting the financial support they need. While some grant money for small businesses is intended to fund specific projects in underdeveloped industries and is very limited in scope, others can be utilized virtually for any existing small business.
Federal Assistance Available For Small Business Owners
Books, the internet, and commercials have made people believe federal government support for small businesses means giving away free money to all kinds of organizations.
Not a single advertisement gives out the truth. None of them set the truth-o-meter on five alarms, nor do they fervently call for advertising to be truthful.
However you must buy the book, download the software, or call the toll-free number, and many of the promotional materials contain crucial information. In this instance, the software known as CyberGrants will be a huge help.
Does The Federal Government Help Your Small Business?
Programs like hardship loans for single mothers are available in many states and these can help you figure out the home buyer categories and who falls under them. While it doesn’t have a certain single-parent category, they still offer handsome grants for these types of homebuyer. You will see these benefits being promoted under certain different categories like first-time home buyers, low-income buyers, and rural home buyers. You must hire a consultant and figure out ways the government can help you to apply for small business grants in your local area.
How To Select Areas For The Business?
While selecting grants you must always look for your chosen area of the business. Because it will offer you a high chance of approval. If industry-specific financial support is not there, there are still thousands of programs available for small businesses in general.
Many candidates while applying make the mistake of applying for too many grants or $10000 grants small business ones. Because they believe it is careful to go for multiple options. You may think it will hand you the best results.
It is important that you do not get discouraged by the amount of paperwork required. Even though each program is unique to a particular case, the application procedures and documentation requirements are all alike. So 80% of the required paperwork needed for grant money for small businesses would be pretty much the same.
What Does the Government Do In Real?
The truth regarding federal small business grants is just simply tricky and not clear enough. Hence wise marketers can easily find their way through the gaps. So if you’re wondering if you are eligible to receive a federal grant to begin your small business journey, the answer to that is simple and it is a non-negotiable ‘perhaps yes.’
The government does not provide a large number of grants for small businesses to people. Because most people fail to deliver scalable works or projects. And also a product of public curiosity that the government will fund. For instance, big retailers cannot get grants unless they make a certain amount of sales money every year. And they must also carry the documents of consent.
However, the government supports small business hardship grants for minorities and provides planning and ‘capacity building’ grants to small partnerships and individuals. Also for proper training and retraining jobs grants are offered and it helps with generating employment and as a result, it decreases people’s debt.
Loans For Small Business for Single Mothers
A $50,000 capital improvement loan can easily increase a single-mother-owned small businesses capacity by 100 percent. The owners of small businesses are doubling their workforce, assisting individuals with debt reduction and secured homes.
It’s hard for single parents to raise their children and make ends meet. In addition, purchasing a home most of the time appears to be an impossible task.
Many know that it requires two sources of income to buy a house. While for single mothers it is not possible, this still helps them get property of their own. Also, there are loads and grants programs to help single parents. But you must know where to search for it.
Tax Incentives And Assured Loans
Government support small businesses grants that come with tax incentives and assured loans are important to know about.
When individuals are working with SBA officials they can get free financial aid from the government. Also, small regional banks will help your business to develop and put together effective plans to grow and reach its highest success.
In 2010 President Barack Obama suggested providing $30 billion to small business grants to encourage small businesses to grow. During that time small businesses were creating 70% of the new jobs existing in the US. Having tax incentives and assured loans also influenced those businesses in small hometowns and as a result, it had a positive impact on the overall economy. Let’s not forget how it also helped those businesses in trouble find a massive exit route.
Types of small business Money grants for Small Business
To help small business grants, there are various types of business grants are available. If you want to get help for your small business then you can look for the small business grant for your business and check that you are eligible for it or not.
You can see that there are small business grants are available by the government as well. It includes the entities like U.S. Small Business Administration and many other important departments such as the National Institute of Health. All these administrations and departments have industry-specific requirements for applicants. Along with them, some of the private companies also offer grants to help small businesses. Maybe those grants are more general and open on a wider base. So that businesses that need help will get help from their grants. However, some of the grants target specific groups that include women, veterans, minority entrepreneurs, and others.
Government Grants Free money Loans Programs and scholarships to benefit your small business
As anything happened, first of all, small businesses were affected by them. Now, because of Covid-19 small businesses are affected too badly and they are facing a tough time. But for them, the help is also available from the government—on federal, state, or local level, and also private sector also offers help. However, they offer help in the form of grants, loans, or competition in a difficult business environment. They will provide help so that businesses that need help to stand again in the industry and also have new and best plans for their business will get help. You can see that they have different ways to help the business.
Covid free money grant for small business
There are several grants are available that help small businesses. Even some of the new grants arise during the pandemic and after the pandemic. Those grants are arisen to help the small businesses who are affected by Covid-19. With those grants, those businesses can get some relaxation and alleviate the pain of closing businesses. Thus if your business is also affected by Covid-19 then you can get a grant from those grants.
But you have to note one thing that some of those grants are closed and some of those grants are still working with new rounds. Thus first you have to check whether the business grant is needed by you, is still working or not. So, you have to check whether you will get funds for your business or not.
Some grant programs are still working for helping the Covid-19 affected small businesses. Let’s continue and check for them.
New York State COVID-19 Pandemic Small Business Recovery Grant Program
New York State Covid-19 Pandemic Small Business Recovery Grant Program is the grant program that helps the business that is in New York and affected by the COVID-19 Pandemic. So, if your business is in New York and affected by pandemics, then you will be eligible for this grant program. However, the grant amount is based on annual gross receipts from 2019 and they start at $5,000. They can be as much as 10% of gross receipts, and they are up to $50,000.
GoFundMe Small Business Relief Fund
GoFundMe Small Business Relief Fund is the fund program that helps small businesses. But the business has to match with the $500 that they raise from the GoFundMe campaign. To help small businesses that are affected by COVID-19, GoFundMe partnered with partners and help them by providing small business grants. If it is verified that business is negatively affected by coronavirus then they will get help with the grant amount. But they have to make sure that the grant amount is used for business expenses and to care for the employees.
The fund that is given to small businesses is supported by GoFundMe and many other corporations like Bill.com, GoDaddy, Yelp, Intuit QuickBooks, and lots more. However, the small business that wants to raise money by crowdfunding campaign can add the hashtag #SmallBusinessRelief to their campaign. For this, they can also fill out this form and confirm their business online and get help with funding.
Also Read : Business Grants for Felons Parents
The Barstool Fund For Small Business
The Barstool Fund is the ongoing funding program that offers grants for small businesses that are affected by COVID-19. This grant is sponsored by Barstool Sports. The businesses that apply for grants, for helping them the fund arise through ongoing crowdfunding campaigns. Then they offer grants to eligible businesses. Even there is one thing that one has to note, that the grant amount is not fixed by them. But recently, some businesses received $9,000. With this, they want that employees come back on the success track. The businesses are chosen on a rolling basis. So you can apply for the business grant to get from the Barstool Fund.
9 Federal Free grant money for small business
There are also small business grants that are offered by the federal government. You have to look for them and check that there is any grant program for that you can apply. Let’s continue and look for the grants that are offered by the federal government.
Small Business Technology Transfer Program
Good For: Business that are focusing on energy Businesses
The STTR program aims to expand funding for the research and development arena. The STTR program focuses on the innovation of technology and provides fund for it as well. However, the STTR program is different from the SBIR program and it is because, in this program, the small businesses get the opportunity to collaborate with research institutions and get the chance to work with them. However, each agency sets its guidelines. If you want to check for STTR grants then you can look here. Although, for qualifying for the STTR program, one has to operate a for-profit company and also meet their other requirements.
Small Business Innovation Research Program
Good For: Especially for Technology or Tech service Companies
The federal research SBIR grant program is helpful for those companies and entrepreneurs who are focused on innovation in technology. The SBIR offers grants for small businesses that take part in federal research and development and have the potential for commercialization. However, this is the grant program that is a highly competitive awards-based program. This grant program helps businesses to achieve scientific excellence and technological innovation.
If you want to qualify for this grant program then you have to meet their requirements and also you must operate a for-profit company. You can check for its funding opportunities here and see how you will get help from their grant program. However, the focused area from the past includes clean and safe water, land revitalization, homeland security, green construction, advancement of health care, and lots more.
Department of Energy Grants
Good For: Especially for Innovation technology Companies
The DOE offers grants through SBIR and STTR programs. They offer grants for innovative research and development benefited technology that is developed by any university or by the DOE National Lab. IF you want to get a grant from them then you can check here and get information on when the grants are available for application.
Department of Defense Grants
Good For: Companies that are focusing on R&D
The DoD (Department of Defense) offers grants to small businesses. They offer grants through the STTR program along with other initiatives. Initiatives include The Office of Naval Research, the Defense Enterprise Science Initiative, the Air Force Office, and the U.S. Army Research Institute. All these initiatives are looking for research and development of technology and all these help them to achieve their goals.
National Institute of Food and Agriculture (NIFA) Grants
Good For: Companies that are working with Agriculture & Food Nonprofits
The National Institute of Food and Agriculture (NIFA) is a federal agency that works within USDA. This agency works with a focus on leadership and funding programs. The best thing about them is they offer grants the whole year, and they come with support and guidance as well. But when you apply for the grant with them, you have to keep one thing in your mind they mostly offer their grants and support to non-profit and larger businesses. Thus make sure that you first read all the requirements as well as details so later you did not have any issues or face rejection from them.
Department of Justice Grants
Good For: Public Safety Projects and Leagle assistance
There is also a grant program that offers a grant for law enforcement, public safety activities, programs to improve the criminal justice system, and lots more. Department of Justice Grants offers grants and support for all these areas. Here’s an overview of the agencies that also provide grants under the DOJ grant. You can look for them and check that you are qualified and then apply for that to get a grant from them.
National Institute of Health (NIH) Grants
Good For: Biomedical Businesses That conduct research
NIH is the federal agency within the Department of Health and Human Services (HHS). The National Institute of Health (NIH) Grants are reserved for small businesses that work in the direction of development and research in biomedical technology. It is currently funding opportunities related to COVID-19 research throughout the year. They have different grant programs that can small businesses that work in that research.
USDA Rural Development Business Grants
Good For: Small Rural Businesses
The Department of Agriculture offers grants and loans to help people and provide jobs. That means they help and support businesses that are in rural areas thus they can create quality jobs. It also funds the community projects that include the development of housing, community facilities, and other services.
Department of the Interior Grants
Good For: A variety of businesses
The DOI offers several grants for small businesses by various departments. These departments may include U.S. Fish and Wildlife services, Indian Affairs, National Park Services, and Native American Graves Protection and Repatriation Act. However, these are not enough here, you can find more grants under DOI by visiting Grants.gov and finding lots of more grants.
Free grant money for women-owned businesses
Although numerous grants are provided by private companies and they are offered for startups that are available to a broad range of business owners. Those women who have their own business, generally there are also grants for them. In short, women-owned businesses can also get grants for their business. If you want to get resources and more information about the grant, then you can find it at women’s business centers. But here are two business grants available for those women who want to start their business.
Boston Women’s Fund
The Boston Women’s Fund is another option that helps women entrepreneurs that are related to women-led grassroots community efforts. This grant offers them help with seed money, program support, and operational funding. If you want to get help from this grant program and know more about it, then you can look here to know more grant programs.
The Amber Grant Program/Foundation
The Amber grant foundation was founded by Womens Net in 1998 to help women entrepreneurs.
Good For: Planning Stage Businesses
The Amber Grant Program is very helpful for women entrepreneurs. With the Amber Grant, they can get $10,000 each month, if they qualify. Not only this, but they also have a chance to win $25,000 at the end of the year. At the end of the year, monthly recipients can get this chance to win this additional money. Only they have to meet the requirements of the program.
6 Private Small Business Grants
As small businesses are the foundation of the industries and they are high sources of giving jobs to people, thus to help them many private companies and corporations also supported small businesses in the U.S. You can read further and see what corporations offer help with grants. Also, check for what grants you qualify for.
National Association for the Self-Employed (NASE) Growth Grants
Good For: Growing Businesses
National Association for the Self-Employed Growth Grants is available for its members. They offer NASE Growth Grants to their members to take them to next level. They offer grants to their members worth up to $4,000 that they can use for various activities. According to their website, it seems that they distributed $1,000,000 in grants to their members. You can use the grant amount for buying new equipment, hiring help, creating promotional material, training and marketing, and lots more. To qualify for the NASE grant you must be their member at least 90 days before you apply for a grant with them.
FedEx Small business grant contest
The FedEx Small Business Grant comes back with its 10th anniversary. This year, the company comes with three grand prizes worth $50,000. Not only this, but the company is giving additional $4,000 print services credit with FedEx and other services. From their contest, seven first-prize winners will get $20,000. If you also want to get help from the company then you can look for their eligibility requirements and date for applying on their website.
Good For: Existing Businesses
FedEx is offering its services to businesses since 2013. From that time, the company also offered grants for $20,000 to small businesses. If you also want to get help with the grant amount from the company then you have to apply for it as soon as possible. It is because the applications are open just for one month period. That’s why it is suggested to applicants that they ready their applications and submit them when the applications open for the grant. Along with your application, you have to capture the video of your business and send it with the application.
Nav’s “Legitify Your Small Business” Grant
Good For: Existing Businesses
Every three months, Nav offers grants to small businesses. They offer a $10,000 small business grant to help them and solve their problems. By this, they help them to take their business to next level. Thus, if you need to help them you can look for them and visit their website to get information on how you will qualify for their grant.
The StreetShares Foundation Veteran Business Grant
Good For: Veterans
If you are a veteran and thinking about starting your own business then you can look for a business grant. The Street Shares Foundation is helpful for veterans who are doing business or not. These grants are helpful for those veterans who are active-duty members, or the spouse of a military veteran or active-duty member. The Street Shares Veteran Small Business Award is given to them to help them and give them support financially. Applicants will receive up to $15,000 as a grant from it. However, the veterans are qualified on different factors for the grant amount. Such as they are judged based on their business ideas, product-market fit, their expected use of funds, team, and the influence the business will have on the veteran or military community.
Halstead Jewelry Grant Award
Good For: Jewelry Startups
If you are a jewelry artist and need to grow your business then you can get help from Halstead. You can submit your portfolio and business plan to Halstead. To get an annual jewelry grant award of $7,500 you can get help from them. Although Halsted has a motto to help the growing jewelry artists, develop their business, fine-tune their plans, and hit their goals. So that they can also grow and get success with the help of the jewelry grant award.
Caleb Brown Urban Entrepreneur’s Community Grant
Good For: Community Businesses
If there is any young urban entrepreneur then they can get help from Caleb Brown Urban Entrepreneur’s Community Grant. The Celeb Brown Venture Capital and Consulting Project hosts a $1,000 grant award. With this grant award, they aim at promoting and nurturing young urban entrepreneurs. They help them with vision who plan to rebuild local blocks, neighborhoods, and communities, “by providing training and jobs to the next generation.”
This grant is open for young businesses and startups in urban areas and for this, this grant supports them fully. The best thing is one can apply for this grant when their applications are open each month. One can apply for the grant with them by the 15th of each month.
General Small Business Scholarship Programs
Numerous businesses and nonprofit organizations provide small businesses with grants and other support. Some of these programs are open to small businesses in any industry that meets the necessary requirements:
Ohio Small Business Relief Grant
Multiple grants are being offered currently by the state of Ohio for small businesses and their relief funds because most of those local businesses suffered a huge loss during Covid 19. Ohio offers general grants like grants for new-found build small businesses; they also offer other grants that are for businesses in hospitality, lodging sectors, and entertainment areas.
Award For Small Business
Mastercard and Bank of America have joined forces to provide funding for the SBA Grant Fund. Four small businesses that have achieved success over the past year despite significant obstacles receive this $10,000 US award. Visit the organization’s website and respond to the following question to apply. ‘How has your company positively influenced your customers, employees, and community over the past year?’ In October 2023, during a virtual ceremony, the winners will be declared.
Walmart Grants For Local Community
Local organizations can receive funding from Walmart and Sam’s Club facilities through the Walmart grant money for small businesses. Small businesses can receive monetary support worth anywhere from $250 to $5,000. December 31, 2023, is the last date for application.
Small Business Industry Specific Scholarships and Grants
The application process for some small business scholarship programs is typically simpler to navigate and is restricted to a specific demographic or business profile of entrepreneurs. This is a list of examples. Therefore, you must check with large corporations and nonprofits in your industry or region.
Bernstein Grant Program
Created by WomensNet in 1988, the Amber Grant Foundation had the simple goal of helping women entrepreneurs to grow. Every year in December, the foundation offers a stipend worth $25,000, and every month a $10,000 stipend to women entrepreneurs with captivating journeys in business.
BIPOC Grant By Annuity Payment Freedom
The pandemic’s effects on BIPOC-owned businesses encourage the creation of this Annuity Payment Freedom grant. This helps both microgrants and small businesses to generate traffic. The fund is given out to companies regularly and winners get announced on the last day of every month.
Black Founders Start-up Grants
SoGal foundation along with others sponsored the Black Founders startup grant that offers up to $10000 to black women, women from other ethnicities, and non-binary entrepreneurs. The application procedure is happening continuously and it is available for legally registered organizations wishing to get a large amount of monetary support from investors.
Just Society Foundation
This foundation offers monetary support for small businesses to local, national, regional , and international organizations. It also offers grants to networks that fight for women’s rights, and LGBTQA+ community. If you are looking for more information regarding this scholarship, send an email to the foundation.
Covid 19 Relief Fund by IFundWomen
Launched by IFundWomen, this is covid 19 relief fund that offers micro funds that are community funded as well as free mentorship programs to businesses run by women and specifically the ones that suffered because of the pandemic. On a rolling basis money from the scholarship for small businesses is distributed. In order to be eligible, women business owners must start a campaign for the IFundWomen.
IFundWomen Grants For Entrepreneurs
With a $100,000 capital investment, this award recognizes exceptional female entrepreneurs. Apply now or before September 20 if you are an entrepreneur looking for an investment opportunity for Jennifer Easton People group Soul Grant.
Every year, the first peoples fund awards local artists who focus on their roots a fund worth $25,000 through Community Spirit Rewards. The goal of this grant for small businesses is to assist the businesses in their work. While the nomination starts from July 19 to August 13, the application procedure starts from August 20 to September of 10th.
American Library Association
Besides small businesses, Covid 19 also remained successful at hurting libraries, especially in rural areas. The American Library Association is providing up to 650 eligible libraries with $3,000 to help them improve media literacy or develop new COVID-19 security practices. On September 16, the third funding round will reach its deadline.
Live Your Dream Program
This award is for education and training for women. When you are the only person earning in the family and taking care of things, it can be difficult to consider your professional goals. Live Your Dream helps women to win in every area of life. Over 1500 women are awarded here and have received grants worth $2.4 million annually. On the organization’s website, you will find a detailed description of admission rules and regulations. The application ends on 15th November. The scholarship program begins on 1st August.
LGBTQ+ entrepreneurs get the opportunity to take part in the StartOut’s start-up program and become a Giving Member by applying for scholarships. LGBTQ+ entrepreneurs who have been underrepresented, underserved, and undervalued in their community can take advantage of the initiative’s 12-month membership.
Power Forward Grants
The Power Forward Small Business Grant program is open to black-owned small businesses all across New England. Those who are eligible for this grant must have a maximum of 25 employees and these companies receive continuous grants for small businesses worth $25,000. The program is funded by NAACP, Boston Celtics Shamrock Foundation, and Vistaprint.
Pipeline Angels Funds
Pipeline Angels is dedicated to supporting founders who identify as transgender, cis, non-binary, two-headed, agender, or gender nonconforming with required findings and capitals. Participants in the annual Pitch Summit have the opportunity to present their business concepts in order to obtain funding from an investor in Pipeline Angels. Learn about the terms and conditions of participation on the website and application before September of this year during the virtual pitch summit.
NASE Growth Grants
Just like its website states, NASE or The National Association for the Self-Employed has given grants worth $1,000,000 to the members. To support training, marketing, and other issues NASE’s growth grant money for small businesses offers monetary support of $4000. But before you apply you must be a member for 3 months.
Patagonia Corporate Fund
Patagonia fund for small businesses offers money worth $10,000 and $20,000 to nonprofits with an aim to take care of the environment. You can apply for this grant if you meet the eligibility requirements.
NASA Science Mission Entrepreneurs Challenge Grant
After the progress of the NASA Science Mission Directorate Entrepreneurs Challenge 2020, this challenge has been renewed for 2023. After the progress of the NASA Science Mission Directorate Entrepreneurs Challenge 2020, this challenge has been renewed for 2023. Participants are asked to come up with fresh concepts for technological advancements that will support the Agency’s goals for its scientific mission in this challenge. The only thing you need to do is describe and outline your idea for the first round. Please provide a more in-depth description if you are selected for the second round. Grants worth up to $90,000 can be awarded to the winners. Recommendations for the first round are expected to start on August 6th.
BarStool Funding Program
For those small businesses that suffered during covid and had many employees working under the firm during the pandemic get the required help from this funding program. The winners will be chosen on an ongoing basis. Hurry up and apply for a chance to get money for your business.
Equity Match Grant For Small Business
Starting a new business can be overwhelming. As a result, Connecticut women-owned businesses can apply for grants of up to $10,000 through the Equity Match Grant Program. Companies must include a detailed description that explains how they wish to use the grant to grow, expand, and boost profitability in their applications. On 7th September, the scholarship program opens but the applications must be prepared from now on as per the suggestions given by the organization’s website.
GoFundMe For Small Business
GoFundMe’s Small Business Relief grant is ready to award $500 to qualifying small businesses that were badly affected by COVID-19 and here they will raise at least $500 through the GoFundMe campaign. The campaign is supported by GoFundMe and organizations such as Intuit QuickBooks, GoDaddy, Yelp, and Bill.com. Small business owners can use the hashtag #smallbusinessrelief and fill out necessary forms.
KKR For Small Business Builder
After partnering with Hello Alice, KKR started their Small Business Builder program to offer a small business grant of $10,000 to small businesses that suffered during the Covid-19 pandemic outbreak. This is to help these small businesses recover from the loss that they suffered during the pandemic. Besides business recovery, this scholarship program also gives access to mentoring, coaching opportunities, and technical sites to the program holders. These opportunities come from KKR and Hello Alice’s online network community and resources.
NAV Scholarship Program
Nav presents $10,000 quarterly to private companies hoping to expand. Simply share your voting link with your audience and complete filling out the application form. Describe who you are and the obstacles you have overcome or still face. Voting closes on August 8 and the application period closes just two days before, on August 6.
Small Business Recovery Program By New York State
New York State’s Pandemic Small Business Recovery Grant program recently opened up its applications. Every company based on their 2019 gross annual revenue gets grants that range from $5,000 to $50,000 and can be used to recover any loss or expense-related charges due to COVID-19 that occurs between March 1, 2020, to April 1 2023 and also they were created on June 28th, 2023.
How to find a grant for a small business
When your small business needs help to rebuild and stand in the industry then you can search for small business grants on Google. You can find millions of grant programs that are available to help small businesses. You see that there are numerous possibilities it is impossible to narrow down the prospects. But here are sources also available that can help you to get small business grants for your business. The thing is that those sources did not come to mind or one cannot imagine that he or she can get help from those sources. You can read and see that there are those sources are mentioned below. You can look at them and know how those sources are helpful for you to get small business grants.
GrantWatch is the option that you can use for searching for grants of any kind. It is the only website that has a database of grants. However, it is a subscription-based service which means you have to pay for it to look for the grants on it. The site has all kinds of grants that are offered by various levels like federal, state, and local government. Not only this, but they also offer grants from foundations and corporations. The best thing is that the GrantWatch site has all the updated grants. Along with this, the grants that are closed now will be archived. So that you won’t look for them and waste your time.
You can use the filters on the website to look for a grant for your small business. You can see that there are more than 25, 000 grants are available you can search from them according to your small business.
There are lots of people some are financially strong then some are financially weak, but if there is free giving then everyone is ready to get it. However, free money from the government everyone is ready to get and for this, they can do anything. Same as there is an online page that offers free business grants from the government. Grants.gov is the federal government agency’s landing page among all the federal government grant access agencies. It is a great resource to find a business grant for all kinds of businesses. But small business owners may feel a little sad after knowing that some of the grants are closed for small businesses and because of this they did not get an advantage from them.
The Grants.gov site has grants for various people or industries such as school systems, local governments, individuals, and non-profits as well. Thus you have to look for the grants that continue with the one or more that will be helpful for you. Along with all these, the federal government also has grants for small businesses, but with some specific requirements. When a business meets those requirements then it can get a grant from the federal government. (You can read further and know how the federal government determines which businesses qualify as “small” businesses in this article). Thus read and find out the level of the small business so you will apply for the grant according to that criteria.
If you feel that receiving the business grant from the federal government is difficult then it may be, because it is. There are lots of requirements and criteria that are important to fulfill, and someone is not meet with them then it will be hard for them to get a business grant from the government.
Although here are some common requirements that the federal government needs to determine business grant eligibility, let’s look at them:
- Grant money from the government is not given to start the business.
- Grant money is not available for paying off the debt or for handling the operating expenses of a business.
- State and local grants that are provided by the federal government they may be given to organizations that work and assist the economic development. Thus they help the businesses that really need it and also important for the economic views.
Now, you see that if you want to get grant money for any of these purposes then you did not get it or if you get it then did not use it for these purposes.
Small Business Development Centers
When you try to get grants from federal agencies and once you exhausted them, then your next target is state and local governments that offer business grants to small business owners. However, you may be able to hit paydirt and find some of these on your own. But here are some ways that can help you to search for grants for free.
Also Read : How to Start A Mobile Food Truck Business
Although the Small Business Development Centers are the best friend of business owners as it is too much helpful for them and their business. The local, regional, state and national offices help small business owners by providing the right advice. Along with advice, they also help them to understand the business financing options, craft marketing strategies, and also help them to connect with other local business owners and much more.
There is one thing that will help you is that to navigate the grant process. Only fewer people have as much visibility as SBDC advisors do on the local business grants scene. It is the appointment that you did not afford to make when you are searching for small business grants yourself. Thus you can look for SBDCs and go there and get help with the small business grants that are helpful for your business.
In the United States, OpenGrants is the best website that provides the database of both private and public funding grants. However, the site offers to access grants for free and for paid membership options. With the free membership, you can search for a grant database, get access to resources and guides, and hire grant writers (for a fee). But with a paid membership, you will get more advanced features. That includes you can flag grants, get email alerts when any new grant is added to the website, take notes on grants, export results, use the power search feature, and also get personalized matching. Thus with OpenGrants, you can get more features to access grants and to reach them according to your small business.
Your Local Librarian
As you look for various ways so you will get help to search for grants for your small business, one of them is local libraries as well. You can look for them also, as they are offering lots of things for free or at a low cost to small business owners. Along with the things, they also help them to find out the grants. You can visit the local library, and ask for help to search for grants. As they are trained researchers with access to hundreds of databases and help you to get the right grant for your small business.
However, libraries already work with local Chambers of Commerce or business organizations. Also, they may be able to connect you with those experts who understand the local lay of the land. Thus they help you to find out the business grants specific to your community. So, you can look for local libraries as well and get help from them to look for grants for your business.
SCORE is a non-profit organization that is supported by Small Business Administration. It promotes free tools and mentorship for American Small Business Owners. Similar to SBDCs (Small Business Development Center), SCORE is also a free resource for entrepreneurs who are looking for help or expertise. SCORE also has many local experts and you can connect with them.
A SCORE mentor may help you to know about the local grant opportunities. Along with it, he may also help you to review your pitch and help you to make it as compelling as possible. So, your chances of qualifying for the grant are increased.
Alternatives to Small Business Grants
As there are small business grants that offer help to various types of businesses that need help. But if you did not wait or have the patience to get a grant from small business grants and did not wait to know that you are qualified for the award or not then you can look for other options as well. You can look for the options that help you to get a grant or financial help for your business.
There is various type of small business loans available. These small business loans may help you to make your business’s situation better than before. However, it does not matter what is your credit profile. You will qualify for lower interest rates loan from a bank or SBA loan if your business is established and you have excellent credit. Most of the time, the loan amount is given to the applicant in a lump sum. But if you don’t want to get it at one time, then you can look for a line of credit. You can see how you will get money in little amounts.
Along with this, if you are working to make your credit better and build it then you may be eligible to get a merchant cash advance or invoice financing. But if you only look for the way that will helpful for you to buy the things that your business needs then there are numerous small business credit cards are also available that can help you. You can look for them and apply for them.
How to apply free grant money for small business
To get help with the small business grant, you have to do work smart as well as hard. Instead of filling out an individual grant application, do what every job seeker does. That means creating a resume of your business that can answer all basic questions related to your business. So you did not need to give answers to the questions that are asked by business grant providers to applicants. However, the grant money is technically free, and also you don’t need to repay it. But it does not mean this money comes without hard work on your part.
Although some applications may vary based on the requirements. For instance, a government grants program needs an explanation of your business growth and development and how it will be benefitted for local commerce directly. On the other hand, private companies like FedEx need a persuasive video for your business. Thus the requirements of every program are varied and it is always suggested to applicants to check for all details and requirements of the grant program.
Here are some of the common requirements and details that you have provided when you apply for a business grant. Those details may include:
- Your business’s monthly or annual revenue
- Your business’s elevator pitch
- Number of employees in the business
- How the funds will be used by you
- How much time in business
- Your social media platforms (Facebook, LinkedIn, Instagram, Twitter, etc.)
- Your employer identification number (EIN)
- A photo of you (if applicable then also provides a photo of your business partner or offices). However, a professional photo can go a long way. Especially for companies that are looking to use your image on their site when awards are announced.
- Also, explain your business plan. You should have already one, but if you don’t have any plan for your business or how you use the funds then you can contact and get suggestions from SBDC (Small Business Development Center) or can also talk with your accountant and figure out various factors that affect the health of your business. The factors included numbers, projections, and stats. With this, you can also know where you can go down the road.
Free grant money for business start up
As there are grants for small businesses that are offered by the federal government you can find them at Grants.gov. Those grants are given to businesses by state or local government and on a different basis. However, the grants that are offered by the government may differ according to their area. Thus some of the grants are given below that are related to different businesses and can help you to get a grant for your business. So look at them and check for their details as well, before applying.
NIDILRR’s SBIR Program
The SBIR program intends to support and promote organizations that work in the direction of advanced research, technology, and also the program supports the social and economic benefits for the nation. The SBIR is supporting the National Institute on Disability, Independent Living, and Rehabilitation Research (NIDILRR) program. The SBIR supports this through the Administration for Community Living, so that it can provide 10 grants. The grants can support the improvement of lives of the disabled people. However, it is estimated that they provide a grant amount of around $1 million. You can visit the ACL website and check there are the terms and conditions to apply and get a grant.
Companies Crushing Pollution Video Challenge
The United States Environmental Protection Agency (EPA) is hosting a challenge to promote pollution prevention and celebrate companies supporting reduction practices. However, the EPA offers a grant of $5,000 to the company that uses the Toxics Release Inventory (TRI) program to identify facilities that are engaging in pollution reduction. But they offer the grant to that company which shows their work and efforts in the video contest. If you also want to get a grant from them then you have to visit their website and check for the instructions and challenges that they give.
S. Department of Commerce Minority Business Development Agency (MBDA)
Minority-owned businesses can get support from the targeted grants and loans that are specially designed to help minority-owned businesses. These grants and loans are given throughout the year so that those businesses can get help with funds for their business. To know about the local MBDA Business Centers one can visit MBDA.gov and can get all information from there.
Rural Innovation Stronger Economy (RISE) Program
The Rural Innovation Stronger Economy grant program is launched by the US Department of Agriculture. Through this program, they want to enhance the high-wage rural jobs, help out the low-income areas, as well as to support the launch of new businesses in the industry. However, from this grant program, one can get good help. That means their grant amount starts from $500,000 and it can go up to $2 million. It all depends on the plans and projects that support the rural jobs and economies. To know more about this program, you can visit their site where everything is explained.
S. Economic Development Administration (EDA)
The EDA is part of the US Department of Commerce. The EDA offers ongoing funding opportunities for projects that support regional and national economic development. If someone wants to get a grant from them then the applicants can apply with them on a rolling basis. As they have various rolling-basis EDA investments that fund different projects such as construction, non-construction, research and evaluation, technical assistance, planning, higher education, and lots more. You just need to check and apply for the grant that you need.
S. Small Business Administration State Trade Expansion Program (STEP)
This program offers federal funds to small businesses that want to export the products. But the program did not offer the funds directly but it offers the money through the state entities. The great thing about this program is that the participant small business that meets all eligibility criteria that are set by their state can get financial assistance for various things that can help their business to grow more. Those benefits may include they can use the financial assistance to take part in foreign trade missions and shows, to obtain entry to foreign markets, not only this, but they can also develop websites, and design international marketing products or campaigns.
As you see that there are different grant programs are available and you will get free grant money from them for your business. But it is not easy to get it, because the money you get as a grant for that you has to do some paperwork. However, applying for the grant may be time-consuming and technical. But before applying for the grant you have to check for their eligibility requirements. Along with legal and administrative prerequisites, they also have ongoing reporting and auditing requirements. Thus you must check for all kinds of detail about the grant, before applying for it.
Business Grant vs. Business Loan: What’s the difference?
Business grants and business loans for small businesses both are helpful for businesses to get money, but still, they both are different. The main difference between them is whether they need or not to repay. However, you did not need to repay the grant money but you have to repay the loan amount. Grants are awarded by the government trusts, departments, corporations and given to individuals, businesses, non-profit or educational institutions.
Although it may be difficult for you to get government grants for your business. In case, you apply for a grant and get rejected then don’t lose hope, keep trying and get help from other sources. However, you can also look for business credit cards.
Here are various points are mentioned below that can help you to understand the difference between Business grants and Business Loans. The points are:
You pay interest on loans
Now, for all other objectives and purposes, the grants are considered free money. However, loans that are met on low-interest rates are also considered as a cost. You can also face the APRs anywhere that may be gone from 5% to 150% that is dependent on the types of business finance. It also depends on your personal and (business credit scores). And also depends on your business cash flow, on collateral, also years in business, and also depends on many others factors.
Grants are taxable income
The IRS normally believes the business grants as a source of income. It is considered a source of income for business purposes. At the time of payment of tax, the IRS decided that what is the structure of your business and also decide how it gives an impact on your business and also decides how you will report the income. But normally it is observed that a part of the grant money will be transferred to uncle Sam.
Now, you can also downside this potential business grants by doing planning of future. it is also downside by asking your accountant or tax professional and by considering your grant as awarded grants into your quarterly estimated payments( If applicable). And you can also downside it at the time of making payment of taxes by doing aside those funds who have not larger than expected bill and also by estimated the owed taxes. Because in the eyes of the IRS the loans are not considered as a source of income. So if you can downside your tax by showing it as a loan.
Grants are a direct Competition. Loans aren’t
You don’t need to get approved for a business loan. And also you don’t need to win business grants. But the loans may be or not be considered as a scenario in which you do compete directly with the other business for getting the same pot of money. But if you are provided the belief to the business lender that your condition of business finance is good and also believed them to you are creditworthy, then in this situation, you can get approved easily for getting the business loan for growing and expanding your business rather then there is not another business in the community applies. But the supplies of business grants are limited in comparison to the winners of business grants that are large in numbers.
But you have not only required to become a great businessman but also required to be the best business for getting the business grants. Because in these business grants, the application requirements are in a wide range. It is also not easy for most business grants where the application is in large numbers.
Grants won’t help you build business credit
It is those things that don’t provide support to borrowers of all sorts. It makes it frustrated to borrowers- (it take credit to build credit). The major commercial credit reporting bureau (most notably, Experian and Dun & Bradstreet) especially requires a big trade line of some sort for making the building a business credit history. Normally, the business grant is nothing, but it is just free money. Because once it is finished you have to require a lot of additional funding for growing and expanding your business. And also there are no information is given about any business grants to the personal or business credit reporting agencies
Loans can come with consequences
It is not easy to face the consequences of the loan. When you get a loan for growing and expanding your business, but you are not in a situation to make the payment of your loan, and also if you make any default regarding the loans then you have to face many consequences that can go against you. But these consequences depend on your loan type. And also depends on you which line is out for you to get the loan approval. And it also includes to those that equipment repossessed, a business lies, or UCC filing and also includes a damaged personal or business credit score, or bankruptcy. So you have to face many Business loans consequences. Normally, you are using and spending the business grants on something your business wants but it is not required for your business to grow and spend then it may become very risky for you as an opportunity cost. And also it becomes very risky for your business when you spend this business grants money unwisely. (However, keep in mind that larger grants— and especially federal grants— may have specific reporting requirements, and they may release funds only after certain milestones are met).
Federal Stimulus Aid
As the pandemic affected all kinds of businesses negatively whether the business is small or large. Some businesses rethink their business model, and then some are just getting started. However, to help the businesses, President Biden recently enacted a coronavirus stimulus bill. With this bill, small businesses and other businesses will get help and also get assistance. To provide them assistance, $1.9 trillion is given in the form of business assistance. They offer this assistance money to businesses and individuals who need it. Along with this, the bill includes aid in the form of tax credits, grants, and loans. You can check for them and apply for the grant according to your business type.
Small business grants Industry-Specific and diversity
Here are lots of business grants available for people that are confined to a specific entrepreneur demographic or business profile. Along with this, they also may have an application process that makes it easy to navigate them. You have to check for the non-profits and large corporations that will be helpful for you to get the business grant in your geographic industry or area. Here is a complete list of the organizations and corporations that offer help to small businesses whether are of a different kind.
BIPOC Small Business Grant by Annuity Payment Freedom
By Annuity Payment Freedom this grant was created. To help the businesses that are owned by BIPOC small businesses and impacted by pandemic. There are both marketing grants are available to help drive traffic and micro-grant opportunities. These grants are awarded to businesses on a rolling basis. However, the winners are announced at the end of each month. Before applying with them to get the help you have to check for their requirements and details.
Amazon’s Black business accelerator program
IF you are a seller in the Amazon store then you will be eligible for the Black Business Accelerator program. This program is created to help and support Black Entrepreneurs, and help them with financial support, mentorship, promotional support and also help them by giving business advice.
The eligible sellers will have access to imaging services, cash grant opportunities, advertising credits, and money toward start-up costs. However, this will not be enough, so you can learn more about the program and look for opportunities that will be beneficial for you. For this, you can visit their website and check for their details.
Boss Impact Fund’s “Investment in Progress” grant
In the partnership of the technological development company with Sage, The BOSS Network has launched the Boss Impact Fund’s “Investment in Progress” grant. This grant program is aimed to help the Black Female Entrepreneurs so that they can break down all the barriers that come in the path of their success. However, this is a three-year investment fund. Sage will be investing $10,000 for 25 Black Female Entrepreneurs. Along with the grant amount, they also work in conjunction with The BOSS Network, which will provide one-year mentorship from Boss University. You have to check for the application deadline to apply for this grant. However, the deadline for applications is February 25 on Hello Alice’s Website. But to confirm or know more about the grant program, you have to visit a website.
Black Founder Startup Grant
The Black Founder Startup Grant program is initiated by SoGal Foundation and other sponsors. They offer grants to various people and businesses that need help for their business. Such as they offer their grants to Black and multiracial women and non-binary entrepreneurs. They offer a grant amount of up to $10,000. This program accepts the applications on a rolling basis. However, this program welcomes entrepreneurs who are registered with a legal business and have planned to seek investor financing on the scale. That means the entrepreneurs who have the plan to progress and come up with new ideas in the industry; this program helps them and opens for them.
The application for Comcast Rise grants is open till the grant period ends on June 17. The Comcast Rise Grant help with marketing, media, technology, and creative services to small businesses. They provide help to small businesses that are owned by women and people of color. However, their application process is simple and you can look for their eligibility requirements and the procedure to fill out the application on their website.
Fast Break For Small Businesses
There is a popular grant that helps the communities and small businesses with their grants and services. Now, that grant means Fast Break For Small Businesses Grant is coming back in 2022 to help small businesses. To help small businesses, again LegalZoom, the NBA, NBA G League, and WNBA have partnered. With their partnership, they want to help and support small business ventures in underserved and underrepresented communities. For this, they offer them various $10,000 grants and up to $500 in LegalZoom Services. However, the applications are not open for this grant yet now, so it is suggested to interesting businesses and people to add your name to an email list. So when the applications open then you can apply for them with ease.
Capital One Business Grant
To help and support black businesses, Capital One announced its Capital One Business Grant. They want to help black businesses so they will also grow in the industry. They help the black businesses in the partnership with Association for Enterprises. For this, they offer $10,000 grants to small businesses. They mainly offer their help to small businesses that were lost during the pandemic and thus they try to supplement those businesses.
Be. Elevate Fund
This is the grant program that was formerly known as Good Work Network. Go.Be. aims to help small business owners and entrepreneurs. They want to support the diverse and minority businesses even they are owned by women and people of color. Go.Be. will grant up to $4,000 toward any project that shows help to grow the small business. If you want to get a Go.Be. grant then it is necessary to be a Go.Be. client. For this, you have to visit their website or grant page and check for the eligibility requirements for your business. Whether your business is fit for their criteria or not to get a grant from them.
Foundation for a Just Society Grant
Foundation for a Just Society Grant offers its grants to various levels such as local, state, national, regional, and global organizations and networks. They offer their grant to those who support the rights of women, girls, and LGBTQI individuals. You can send an email to the organization for more information on specific grants.
IFundWomen COVID-19 Relief Fund
IFundWomen launched a Covid-19 Relief Fund that provides helps to community-funded micro-grants and free coaching to women-owned businesses. They help those businesses that are affected by Covid-19. However, they distribute grants on a rolling basis. If women entrepreneurs want to consider this, then they have to start a campaign on IFW. To know more they can visit the website as well.
Grow by Invoice2go
Small business owners who come from minority communities to them Grow by Invoice2go offers grant money. They offer grant money to those small businesses up to $200,000. Each recipient can get a chance to win award money of $15,000 from it. Along with this, they will get an opportunity to join the Invocice2go business community and also gain access to exclusive workshops. So, if you are interested to get a grant from them and want to take advantage of their features then you can look for the eligibility criteria as well as for the application procedure. For this, you can visit their website and look for all details.
Patagonia Corporate Grant Program
Patagonia Corporate Grant Program offers grant money that ranges between $10,000 and $20,000. They provide funds to non-profit organizations with the mission to protect and preserve the environment. Thus, you can also get grants from them, but only when you meet their grant requirements. If you meet their requirements then you can apply today for the grant amount.
Merchant Maverick Opportunity Grant Program
For the last two years, due to the COVID pandemic, the restaurants and foodservice businesses have faced many problems in their business. In this situation, the Merchant Maverick has been decided to give the $10K to 10 different AAPI-owned restaurants for reducing the mitigate losses and also for increasing the costs.
The person who is a citizen of America can also apply for these grants if you are a member of the AAPI community and also who owns a restaurant, food cart, kiosk, grocery store, or other food services business (outlined in their eligibility requirements). But the Merchant Maverick only accept the first 5,000 application that is submitted. So you have to apply for this grant as soon as possible.
SoGal Black Founder Startup Grant
This SoGal Black Founder Startup Grant offers the cash grant opportunity that can go up to $10000 to those people who are black women and also non-binary entrepreneurs. For creating this grant the SoGal has done partnership with several sponsors so that they can provide help or for promoting black women. And also those women who are self-identifying as non-binary can get equal opportunities for getting the capital for doing their small business. If you want to apply for it, then you have to a business that is legally registered and also self-identify as a black woman and also have to make a plan for seeking finance now or in the future. You have to apply for this as soon as possible because the deadline is rolling very fastly.
Power Forward Small Business Grant
The small businesses that are black-owned and are in the New England all those businesses are eligible for the Power Forward Small Business Grant program. The eligible businesses with a maximum of 25 employees will be awarded by $25,000 grant amount on a rolling basis. But only when they are sponsored by NAACP, Vistaprint, and the Boston Celtics Shamrock Foundation. To know about this program, you can visit their website.
Swiftarc Beauty Fund
Swiftarc Ventures is a Venture Capital Firm that announced this week that they will be funding a $10 million beauty fund. The fund provide is aimed at female-led beauty and wellness start-ups. This fund is supported by influential women in the beauty and investment industries. However, the winner will not only reward with grant money, but they will also get peer-to-peer networking opportunities as well as mentorship. Although there is no deadline mentioned by Swiftarc Venture that means the opportunities are still on your radar and you can look for applying for the grant program to get a grant for beauty and wellness start-ups.
- StartOut Scholarship Program
StartOut offers scholarship opportunities to LGBTQ+ entrepreneurs. The entrepreneurs who want to take part in their founder program and also want to become a giving members. Even this program also provides 12-month membership for those LGBTQ+ entrepreneurs who are underrepresented, underserved, and underestimated within their community. If you belong to them and need help for your startups or business then you can apply for a grant with them.
Voodle Visionaries Grant Contest
Voodle is a video messaging platform that is launched the Voodle Visionaries Grant Contest for the workplace this week. And this company also wants to provide help to those self-identifying as female, non-binary, and also BIPOC founders. Under this, the applicant who wants to apply for it has to submit a 60-second Voodle video that is submitted before 25 February in which they show how their company will change the future of work. And from these videos, the company selected those videos who got the most likes and also got the most views and after this, the company will be announced the winners of this contest on 31 March. And the winners get the featured spot on GeekWires weekly podcast and also get $10000 grants.
Government Contract Assistance
The federal government, each year spends billions of dollars on goods and services. A lot of money they spend through the initiative of the bidding process. Where they arrange bidding processes for different types of small businesses. With this, they create chances for small businesses to get federal grants for lots of dollars. Some of them are given below and for different grants or assistance. These are:
Women-Owned Small Business (WOSB) Federal Contracting Program
The federal government also wants to help the small businesses that are owned by women. For helping those businesses, the government seeks to award at least 5% of federal contracting dollars. From this SBA program, the Office of Women’s Business Ownership provides support to women entrepreneurs. They offer them business training, counseling, federal contracts, and access to credit and capital. With this, they want to help women and provide them all equal opportunities in business.
Service Disabled Veteran Owned Small Business Program
The federal government always looks to award at least 3% of all federal contracting dollars to these businesses annually. Thus with this, they want to meet with the target by helping them. This is the federal contracting program that offers assistance to small business owners who are service-disabled veterans.
The eligible small businesses must have to meet some requirements required by the government. These may include that the business must be owned or controlled by 50% by one or more service-disabled veterans, they have a day to day operations, have long-term goals that are managed by at least one service-disabled veteran. Along with this, they also have a service-connected disability.
The HUBZone Program is helping businesses that are underutilized business zones. They help by making them more competitive regarding some government contracts. Businesses that take part in the HUBZone Program then can compete for set-aside contracts. Along with this, they can receive preferences from others, which also includes a 10% price evaluation preference in open contract competitions.
8(a) Business Development Program
This is the program that wants to help the small businesses that are owned by socially and economically disadvantaged entities. The government contract businesses that are participating in 8(a) Business Development Program, for them the competition is doing limited and thus they can get the goal of the program, by doing this. If a business wants to participate in the program then that program is certified as an 8(a) entity. Only then that businesses can take part in the program and get a chance to get the award.
Natural Resource Sales Assistance Program
As the federal government spent billions of dollars on purchasing goods and services, same as the federal government also sells a huge amount of natural resources and surplus property. For this, you can see, that SBA Natural Resources Sales Assistance Program set-asides a percentage of these goods for bidding by small businesses only. However, sometimes, the federal agencies divide those surplus materials into small parcels, so that for small businesses it is easy to purchase them. There are five categories mentioned below of those surplus materials, such:
- Royalty Oil
- Surplus real and personal property
- Strategic materials
- Timber and related forest products
- Lease involving rights to minerals, coal, oil, and gas.
Not only this, but this assistance program also provides training for small businesses for government sales and leasing.
General Small Business Grants
Various non-profit and corporate sources are ready to help small businesses. For this, they also offer grants and other assistance that can help small businesses to rebuild and grow. Here are some of the programs are mentioned that are open for applying for small businesses in any area of industry. You can look for them and apply with the one for that you are qualifying.
Business Warrior Small Business Loans
The Business Warrior company understands that it is difficult to get a loan for business from the traditional banking method. To help small businesses they can access the capital, Business Warrior is offering $5 million to small business owners. Along with this, this company also offers loans amount between $5,000 to $50,000, the best thing is that they did not charge the high-interest rate on the amount as the other big companies do.
500 Global Flagship Accelerator Program
Small businesses and startups are looking for funds or grants all year round they can look for 500 global flagship accelerator programs. Since 2010, this program is helping those businesses and startups and offers the opportunity for a four-month accelerated program, but for those that are based in San Francisco. Not only this, but the program offers this help apart from a $150,000 investment. If you want to check for the rules to participate in the program, then you can visit the program’s website.
Walmart Local Community Grant
The local organizations can get grants or funding from Walmart and Sam’s club, from this small business grant. Small businesses can get a grant from $250 to $5,000. But before applying for the program, you have to check the deadline of the program.
Visa Everywhere Initiative
The Visa Everywhere Initiative is coming back in the new year and with new opportunities for global companies or businesses to win up to $100,000. This grant program is best for the companies and businesses that want to gain more global public exposure and share their innovations with others in the industry.
However, from all of the participants in different areas, only one winner is chosen for a specific area in November in Qatar. Even every region has a different deadline to apply to participate. You can visit the website of the program and look for the eligibility requirements and how to fill and apply for an application.
Additional Resources For Small Business
As you read above various ways can help you to get grants and funds for your small business. Even all they are the best option to get grants for any kind of small business. However, apart from them, you can look for some additional sources as well. Some of the additional sources are given below.
Free grant money for minority small business
That also includes multiple grants, funding sources, and low-cost loans that are intended to help minority-owned businesses. So that with the help of those grants and loans, those businesses can grow.
Funding options for women-owned businesses
To help women-owned businesses, there are 10 programs, agencies, and organizations that come forward to help women entrepreneurs. So that they will be better entrepreneurs in the American Business owners and come in the best rank.
Frequently Asked Questions
Here are some questions and answers are mentioned that are related to small business grants. Thus people who need help with business grants for their business can read them and get help from them.
Are there grant money for small businesses?
Yes, there is grant money for small businesses. There are many small business owners who are struggling and these grant money can surely help them. There are government and non government programs that offer grant money for small businesses.
What are some programs that can offer help to small business owners?
There are many programs that offer grant money to small business owners. You can try to apply in a few programs that include Ohio Small Business Relief Grant, Award For Small Business, Walmart Grants For Local Community, Black Founders Start-up Grants and many more.
Can I get help from the federal government regarding my small business?
Yes, the federal government does offer help to the small business owners. You can find hardship loans for single mothers so that they can support their business. There are also grants for other business owners so that they can extend their business or start their own businesses. But remember your business must have a limited turnover and it is under the small business category.
Are COVID-19 Business Relief Grants Still Available?
As numerous small businesses are affected by the Covid-19 pandemic. But the federal government has pretty much halted the Coronavirus pandemic. Apart from this, still there are plenty of Covid-19 Business Relief Grants are available to help small businesses. The grants that are available for helping small businesses are the Barstool Fund, GoFundMe‘s Small business Relief fund, and New York State’s COVID-19 Pandemic Small Business Recovery Grant Program. One can look for those program’s eligibility requirements and can apply for the grant for their business.
How do I apply for a small business grant?
When you want to apply for any small business grant then you have to fill out the application form. However, each program has its steps to apply for it and get a grant from them for your small business. Apart from this, you have to provide the details of your business, and maybe you have asked to write a letter or an essay, to mention your business plans that how you use the funds. Although some of the grants like FedEx need to record a video elevator pitch. Thus, for different small business grants, there are different requirements.
How do I qualify for a small business grant?
To apply for any small business grant, you have to check for their eligibility requirements. However, each program has their requirements that they need to fulfill by the applicant. It is important for applicants that they check for the requirements of the program, so later they did not waste their time to apply for the program. Because if they direct apply for the grant program and did not qualify for it then it is a complete wastage of time.
Some grant programs may require you to be in a certain industry. Then others need you to be in a business for a certain amount of time or be generating certain revenue. This is not enough here; some of the grants may have restrictions on you to use the grants that are available to you.
Are there any downsides to business grants?
There are many factors available that create the skepticism in mind of the business owners related to the free money that is provided by the business grants. Many grants offer free money but they have different application periods, rules, terms, and conditions, and also they have different potential downsides.
So while you applying for free money from these grants then you have to keep in mind all the factors that are discussed above because every grant has different rules, terms, application periods, and conditions. As you read above that the IRS considered the business grants as a source of income for taxable purposes. However, these funds will be considered as free money by you for your business, but first, you have to ensure that you cannot spend all the payout without doing any planning about adding the income to your tax bill.
But these business grants take a lot of time. It may be possible that you are already a time-crunched business owner that is wearing a million hats and also you have no time to apply for every business grant that is offered and also you have no time to apply in those business grant opportunities that are come across you. But this complaint is considered as a valid complaint about the business grants.
There will be less chance of winning the grants that depend on the size of the competition. So you have to figure out the analysis of your cost/benefits so that you can observe about your most precious time- asset- is worth it or not. But it is required the campaigning for considered the small business grants. But there are also many Business grants available that require the Social Media component. And on this social media, you can campaign about your grant application or share something publicly about your grant application.
But if you are already active on social media and also vocal on social media, then it is not necessary may be proven wrong for you. But campaigning takes a lot of time. It is also not necessary that all the business owners want to be as public for about their search for money. But you look at the small business grants by any way you found that these small business grants are good things.
It is worthy to know about your time and energy to explore about that for which ones your business is eligible to apply. Because this money is that money provides the help to you in growing and expanding your business and it is that money that is not returned by you.
Now, you see that there are numerous grants are available for small businesses. Even they are related to any field or industry area. To get the grant the small business must have to meet the program’s eligibility requirements. That’s why it is suggested to applicants that first they look for the eligibility requirements of the program and then apply for the grant if they meet with them. However, small businesses that are affected by Covid-19 for them also grants are available.
Not only this, but young entrepreneurs can also seek grants for their startup plans or their businesses. However, the main thing any grant program seeks for providing the grant is the future planning for the business. If your plan is good and you show that your plan works along with advanced technology and is helpful for people and the nation then you will get a grant from the grant program.
Even lots of government grants and non-profit grants are specially designed to help women-owned and veterans-owned, black-owned, and other minority-community-owned businesses. So, they will also get a chance to come in front of the industry and get a better rank in the industry list. Thus anyone can look for business grants if they are capable to get a business grant with their business plan.