Where Get Small Business Grants to Start A Business

What are small business grants from the federal government?

The government is one of the biggest givers of small business grants. Federal agencies support a range of companies ranging from childcare services to environmental conservation. It may seem nerve-wracking to apply, but business grants from the federal government are excellent opportunities for businesses hoping to expand.

Grants.gov

This is a database of federal grants for small businesses that is run by a number of federal agencies. These agencies include Veterans Affairs and the Department of Education.

Small Business Technology Transfer and Small Business Innovation Research programs

The STTR and SBIR grant programs are focused on development and research for scientific research and technology innovation. These programs assist entrepreneurs with finding business contracts and small business grants from twelve federal agencies.

To be eligible for these free grants to start a business, you need to be a for-profit company and have no greater than 500 workers. There are also other eligibility requirements.

USDA grant

The USDA is in charge of a rural development program. This grant offers financing to grow and strengthen companies in rural areas.

Companies need to have less than 50 workers, have a gross revenue of less than one million dollars, and be located in a qualified rural region. The USDA accepts applications once a year through its state or local offices.

Program for Investors in Microentrepreneurs

Usually, the SBA does not directly provide small business grants. However, this program provides grants to microenterprises so that they can offer assistance to needy small business owners.

These organizations include the PeopleFund and the Washington Area Community Investment Fund. They can be managed by state or local governments or be private nonprofits.

Regional and state small business grants

Since federal grants are rare and competitive, it may be wise also to explore local and state grants for small businesses. Begin your search by looking at the following options:

Economic Development Administration

The U.S. Economic Development Administration offers resources, technical assistance, and free grants to start a business for neighborhoods to encourage entrepreneurship, innovation, and economic growth.

Each state agency assists small businesses identify financing, including regional and state grants. They also help recruit employees and secure locations. You can explore the economic development directory for local resources and regional offices.

Small Business Development Center

The local Small Business Development Center offers support for aspiring entrepreneurs and small businesses. They are typically associated with a state’s economic development agency or local universities. Many can assist you with finding free grants to start a business, in addition to further business financing opportunities. Also, they offer training, counseling, and technical help.

Minority Business Development Agency centers

The MBDA operates a network of entrepreneurial centers across the country that are devoted to promoting and growing small businesses owned by minorities. The centers help entrepreneurs get capital and secure contracts.

Your local center can assist you in applying for debt-based financing in addition to local, state, and federal grants for small businesses. The agency typically holds a yearly grant competition for small businesses.

State Trade Expansion Program

The Small Business Administration provides funds to state governments to put in place the State Trade Expansion Program (STEP) grant. This helps small businesses handle expenses or expand into international markets.

The presented funds and eligibility requirements for these startup business grants vary according to state. However, capital may be used to design international marketing products, engage in export trade shows, support online globalization, and much more.

Corporate grants for small businesses

A lot of large companies and corporations participate in philanthropy, supplying small business grants. Some offer startup business grants to nonprofits in specific industries, while others help for-profit companies as well.

National Association for the Self-Employed Growth Grant

Members of NASE may apply for grants every month worth as much as $4,000. There is also a yearly college scholarship worth $3,000 for dependents of members. The NASE provides startup business grants all year, and completed applications are reviewed every quarter.

Verizon grant

The Digital Ready program provides entrepreneurs the chance to enjoy free educational materials and courses, in addition to startup business grant funding. To receive a small business grant worth $10,000, business owners need to register through the Verizon website and do two of the following: live coaching, community events, or courses.

After the tasks have been completed, a business owner can submit the grant application. In 2023, Verizon offers a total of half a million dollars.

FedEx contest

FedEx holds an annual grant competition that awards more than $300,000 in free grants to start a small business to ten enterprises. This includes FedEx print credits worth $1000 and a $30,000 grant to the grand prize winners.

The competition is meant for American for-profit small enterprises that have less than 99 workers. You also need to have a legitimate FedEx business shipping account number and use FedEx currently in order to apply. The next cycle opens in 2024.

Small Business Growth Fund Grant

The Small Business Growth Fund is a collaboration between Hello Alice and the Global Entrepreneur Fund. It is a yearly program meant to assist entrepreneurs in expanding their operations. In 2023, the program offers grants for small businesses worth between $5000 – $25,000. Companies must have made less than one million dollars in overall revenue in the previous year.

Venmo grant

Venmo’s program gives 20 qualifying entrepreneurs grants worth $10,000 for their small enterprises it also provides public promotion on Venmo’s social media platforms and website. An additional award is mentorship from leaders in the industry.

To qualify, a business owner needs to have a Venmo account in the U.S., as well as a legitimate business profile on the site. It is also necessary to have less than $50,000 in yearly sales and fewer than 10 employees.

Amazon grant

This yearly Amazon program provides grants for small enterprises that make one million dollars or less in yearly revenue and have an Amazon business account. The program provides grants to fifteen companies, with awards ranging from $15,000 – $25,000.

Winners are also eligible to receive free products and a one-year Business Prime membership.

Top Small Business Awards – U.S. Chamber of Commerce

This award offers a grant of $25,000 to small businesses that have contributed to the American economy. The contest also offers rewards for various categories, including green businesses and emerging businesses.

You need to have an extant business to be eligible for the free grant to start a business, and the company needs to have been operating for a year.

Visa grant

This competition offers free grants to start a small business to technology startups across the world. Applicants need to show how they have made a service or product that uses Visa’s products creatively.

For each region, Visa selects the top 5 finalists who will proceed to the final stage. The winner of the final stage will be awarded a grant worth $50,000, while the second and third place, local and regional winners, as well as the audience favorites, will receive additional startup business grants.

Lenovo grant

This initiative is a program meant to help small businesses in the United States and Canada by providing technology donations and grants. Thirty small businesses have been awarded small business grants worth $10,000, business support, and a Lenovo laptop through the Lenovo grant this year. The winners for the 2023 cycle have been revealed.

Small business grants to help start a company

Finding federal startup business grants can be challenging, but there are startup grants available for small businesses from certain local and state governments, in addition to private companies.

Incfile grant

Are you a new entrepreneur looking for financial assistance to cover startup costs? Look no further than Incfile’s Fresh Start Business Grant. This grant offers $2,500 to cover your costs, along with complimentary formation services in your state, a free tax consultation from Incfile, and complimentary registered agent services for one year. To be eligible, you need to be aiming to start a new business or expand an existing one. Additionally, Incfile offers a Young Entrepreneur Grant for students who want to start their own businesses, with the next cycle scheduled for 2024.

Hello Alice grant

Hello Alice partners with various organizations like DoorDash and Progressive to provide grants for small businesses, which includes startups. By signing up for an account, you can be notified of new prospects and apply for grants that are applicable to your company.

Amber Grant for Women

Each month, WomensNet provides the Amber Grant worth $10,000, and two grants for small businesses of $25,000 are given out each year. Also, WomensNet offers free funding at various times during the year. To be eligible for any of the grants provided by WomensNet, companies simply have to complete one application. Both startups and established women-owned enterprises are eligible for these free grants to start a business.

SubSummit Pitch Contest

Startups that operate on a subscription-based model and have been active for less than 2 years are eligible for the SubSummit competition. The victorious startup in this yearly competition is granted a small business grant of $10,000 and business services worth $40,000.

To apply, interested participants are required to submit a brief video detailing their business, the driving force behind their brand, and, if desired, their plans for utilizing the grant funds. The semifinal round will take place virtually, and the finalists will compete in person for the grand prize. If you are interested, you can register now to be included in the waitlist for the 2024 application process.

Small business hardship grants

Recovering after an emergency, such as a public health crisis or natural disaster, can be aided by grants designed to help small businesses. These free grants to start a small business are offered by various sources such as government, nonprofits, and corporations. It is important to note that the availability of some hardship grants may be limited to a specific period, so it is advisable to check deadlines for funding. Consider the following alternatives:

Local and state small business recovery grants

During difficult times, such as the recent COVID-19 pandemic, small businesses can obtain financial support through state and local governments. These entities often establish grant programs to help businesses cope with the aftermath of crises. In addition, some cities and states maintain small-business grant programs that provide relief to business owners affected by disasters, including floods, fires, and hurricanes.

Etsy Fund

Sellers on Etsy can receive financial assistance from the non-profit organization CERF+ in the event of a disaster. To be eligible for this startup grant, applicants must have been impacted by a federally declared natural disaster in the past year and must have maintained an active seller account in good standing on Etsy for at least a year. The amount of the grant is $2,000 and applications are accepted continuously, with funds being issued every three months.

DoorDash Relief Fund

In the event of a natural disaster, DoorDash Restaurant Disaster Relief Fund provides small-business recovery grants to restaurants. These grants amount to $10,000 and are exclusive to physical restaurants that have been affected by state or federally-declared disasters such as hurricanes, wildfires, or earthquakes. To be eligible, you must have no more than 3 restaurant locations, employ fifty or fewer people, have been in operation for a minimum of 6 months, and have earned 3 million dollars or less for each location in the past year. Applications are reviewed quarterly but have to be submitted within one year of the natural disaster declaration. Within thirty days of the period closing, recipients will be notified.

Small Business Readiness for Resiliency Program

The R4R Program is a program that consists of two parts and aims to assist small businesses in preparing for and recovering from unforeseen disasters. To take part in the program, you must finish a preparedness checklist (including an emergency action plan) and enroll in the R4R database. Should a disaster occur, you can seek eligibility for grant funding. The grant money for emergency relief is distributed in $5,000 amounts, and you have to demonstrate that you have incurred losses or damages related to the disaster that are equal to or greater than the grant amount. To be eligible for this small business grant, you must also meet other requirements, such as having fewer than 500 employees.

Small business grant alternatives

Identifying and applying for the appropriate grants for a small business can be hard and take time. If you are ineligible for some grants, there are other funding methods to explore, such as the following:

• Small business loans: Explore different kinds of loans, including lines of credit, bank loans, SBA loans, equipment financing, and term loans.
• Credit cards for small businesses: Take a look at different cards and pick the best one for funding everyday purchases.
• Crowdfunding for business: Raise funds for your company by using the internet and advertising your service or product through a crowdfunding campaign.