Where to Find Money for your Small Business? Get Small Business Grants!
Small businesses can receive grants from the federal government, state governments, and even private entities such as corporations and foundations. Small businesses owned by women, people of color, and other minority groups, as well as veterans, can apply for specific grants. Think With Niche understands the importance of Small Business Grants in shaping the future of the Small Business Ecosystem! Hence, we have made an extensive list of grants that small businesses can capitalize on for their growth and success! #TWN
Grants for small businesses, including those affected by the coronavirus pandemic, provide free money to new and existing businesses.
It takes time and effort to research and apply for funding, but the payoff can be significant if your small business receives a grant. Here's a list of federal, state, and private small-business grants and resources to get you started.
Federal Small-Business Grants
Government agencies are among the largest providers of business grants, funding everything from environmental conservation to child care services. Although applying for federal grants can be intimidating, they are excellent opportunities for small-business owners looking to expand.
Grants.gov is a comprehensive database of grants administered by various government agencies, including the Departments of Education and Veterans Affairs.
Small Business Innovation Research and Small Business Technology Transfer Programs
The SBIR and STTR grant programs are focused on R&D for technological innovation and scientific research. The programs assist small businesses in obtaining federal grants and contracts from 11 government agencies.
To be eligible, you must run a for-profit business, have no more than 500 employees, and meet other requirements.
USDA Rural Business Development Grants
The Rural Business Development Grant program, administered by the United States Department of Agriculture, provides funding to help small businesses in rural communities strengthen and grow.
To be eligible, businesses must have fewer than 50 new employees, gross revenue of less than $1 million, and must be located within an eligible rural area. USDA Rural Development accepts applications through local and state offices.
State and Regional Small-Business Grants
Economic Development Administration
Economic Development Administration, an agency of the United States Department of Commerce, provides grants, resources, and technical assistance to communities to promote economic growth and entrepreneurship.
Each state's agency assists businesses in obtaining funding (including state or regional grants), securing locations, and attracting employees. You can look for regional offices and local resources in the economic development directory.
Small Business Development Centers
Small businesses and aspiring entrepreneurs can get help from their local Small Business Development Centers. They're frequently linked to local universities or a state's economic development agency, and many can help you find small-business grants and other forms of financing, as well as counseling, training, and technical assistance.
Minority Business Development Agency Centers
The Minority Business Development Agency Centers manages a nationwide network of business centers devoted to the growth and promotion of minority-owned small businesses. These centers assist entrepreneurs in obtaining capital, obtaining contracts, and competing in emerging markets.
You can get help applying for debt-based financing as well as federal, state, and local business grants at your local MBDA center. The agency usually holds a small-business grant competition every year and keeps track of the results on its website.
Corporate Small-Business Grants
Many large corporations and corporations have a philanthropic component that includes small-business grants. While some grants are only given to nonprofits that serve specific industries, others are given to for-profit businesses.
FedEx Small Business Grant Contest
The company's annual grant competition awards over $250,000 to ten small businesses, with three grand prize winners receiving a $50,000 grant and $4,000 in FedEx print and business services. The competition for 2022 is now closed, and voting will begin on March 22. On May 4, the winners will be announced. The competition is open to for-profit small businesses based in the United States that have been in operation for at least six months and employs no more than 99 people.
National Association for the Self-Employed (NASE)
National Association for the Self-Employed members are eligible to apply for monthly small-business grants of up to $4,000 and an annual $3,000 college scholarship for their dependents. Completed applications are reviewed quarterly in January, April, July, and October, and grants are awarded throughout the year.
Fast Break for Small Business
LegalZoom, the NBA, WNBA, and NBA G League have partnered with Accion Opportunity Fund to provide small-business owners with $10,000 grants and up to $500 in LegalZoom services. This program aims to assist businesses in underserved and underrepresented communities. The application period is open twice a year.
Patagonia Corporate Grants Program
Through the Patagonia Corporate Grants Program, nonprofits working to preserve and protect the environment can apply for a small-business grant. The retailer seeks innovative businesses with quantifiable projects that have specific goals, objectives, and action plans. These non-profit grants typically range from $5,000 to $20,000.
Visa Everywhere Initiative
The Visa Everywhere Initiative is a grant competition that provides funding to forward-thinking startups in five different regions around the world. Applicants must demonstrate how they have created a product or service that creatively incorporates Visa's products.
Visa will choose the top five finalists in each region, and these companies will compete in a global finals event. The overall competition winner receives a $100,000 small-business grant. Second- and third-place finalists, audience favorites, and regional and local winners all receive additional grants.