Small Business Grants: How to Find and Apply
Would your small business use more capital to launch a new product or add services?
It may be time to explore your grant options.
Some federal, state, and local government agencies — and some nonprofits — provide funding to companies. Your company may qualify if it is owned by women or minorities, owned by veterans, or meets other criteria.
Here's a list of grant listings, how to apply, and what to expect if your business earns a grant.
Where to find small business grants
Grants are one of those things that can seem invisible until you start looking and then you see them everywhere. Here are some online portals you can use to start your grant search.
1. US Small Business Administration
The Grants section of the US Small Business Administration (SBA) website contains information about SBA funding programs for small businesses and what is required to apply. The SBA administers or collaborates with more than a dozen small business support programs and grants, including several training grants and financial support for veteran-owned small businesses.
The SBA Grants section also provides information on state-run STEP awards for small businesses wishing to start exporting goods to other countries or expanding their existing export business. If your business is doing research and development in science and technology, you can find details about two federal grant programs - Technology Transfer for Small Business and Innovation Research for Small Business.
2. Challenge.gov
all kinds of problems. Lithium-ion battery recycling, film production, septic sensor technology and management consulting are current topics of the awards. Prizes range from a few thousand dollars to over $ 1 million.
3. Grants.gov
Another federal site, Grants.gov, has a searchable database. At the time of writing, there are over 1,000 grants for small businesses listed on the site.
The vast majority are for small businesses involved in health and other scientific research. There are also programs to help small farmers set up renewable energy systems, leadership training for small businesses serving the law enforcement and criminal justice sectors, and more. Be prepared to spend some time analyzing the lowercase letters and links on this site.
4. GrantWatch.com
GrantWatch.com is a subscription service that collects information about grant programs in every state and territory in the United States, plus Canada, Israel, and other countries. You'll need a subscription to search by keywords, but the site's free search tools allow you to scan by location and category.
For example, grant options in Texas currently include funding for small businesses that run after-school programs, install broadband, provide telemedicine in rural areas, recycle plastic, and build disability assistance technologies to name a few.
And, of course, Google is your friend when it comes to finding grants that fit your profile and niche business, especially for grants from corporations and nonprofits. Here are some of the best known:
5. National Association of Independents
Members of the National Self-Employed Association can apply for grants of up to $ 4,000 to invest in equipment, to improve their web presence and marketing, or for other uses that help the business grow.
These grants are for "micro-businesses". Past beneficiaries include an art glass studio, a T-shirt printing company and a vegan pastry shop.
6. FedEx Small Business Grant
The annual FedEx Small Business Grant Contest attracts thousands of applicants and offers ten prizes, from a $ 50,000 grand prize to a $ 15,000 bronze prize, plus FedEx services to the winners. If your business has a great story to tell and enthusiastic fans, go for it, because customer and fan votes help pick winners.
What types of businesses do you earn? This year, a toy manufacturer, a sunscreen manufacturer, a wedding flower rental business and a craft cheese business were on the list.
7. The amber grant
Amber Grant from WomensNet is a two-step program for women-owned small businesses. Each month, program judges award a $ 2,000 grant to a company. At the end of each year, one of those grant winners receives another $ 25,000. The application process is easy and less complex than government grants. There is a small fee to apply for an Amber Grant.