Where and how to apply for grants
There are literally thousands of ways a legitimate startup business can get funding. Many of these are through loans but there are others you never have to pay back with grants. Most of the grants that are offered are for targeted organizations that need help or for new organizations aimed at helping a community. So before you even start looking for grants for a small business startup you need to develop a thorough business plan. The plan and your application for a grant will have better success if it is not centered around you getting rich.
Small Business Grants
Small Business Administration (SBA) provides limited small business grants and grants to states and eligible community organizations to promote entrepreneurship.
- However, the SBA does not provide grants for starting and expanding a business.
- It provides grants to nonprofits, resource partners, and educational organizations that support entrepreneurship through counseling and training programs.
Federal business grants
Government-backed agencies are among the largest distributors of small business grants. They support a range of enterprises from environmental conservation to child care services. Applying for government grants is not easy, but federal grants provide the best opportunities for small-business owners looking to grow.
Small Business Innovation Research and Small Business Technology Transfer programs: The SBIR agency and the STTR grant programs’ main focus is on research and development for technology with innovation and scientific research. These programs will connect small businesses to federal grants and contracts from 11 different government agencies. In order to qualify for these grants, your business must be for-profit, you cannot have more than 500 employees. There are also other eligibility requirements.
USDA Rural Business Development Grants: The U.S. Department of Agriculture administers the Rural Business Development Grant program, which provides financing to strengthen and grow small businesses in rural communities. Businesses must have fewer than 50 new employees, less than $1 million in gross revenue, and be located in an eligible rural area to qualify. Applications are accepted through the USDA Rural Development’s local or state offices.
Crowd Funding
The use of crowdfunding is another route for small businesses or startups can raise capital in exchange for equity, rewards, debt, or sometimes nothing at all. Business crowdfunding can help you with access to cash quickly. It does take a strong marketing strategy, transparency, and possibly giving up some part of your business.
- Kickstarter: crowdfunding site in general
- iFundWomen: specializes in women entrepreneurs
- GoFundMe: mostly used for charitable causes
- Wefunder: funding for equity crowdfunding
- Fundable: great resource with the help
State and regional small-business grants
Economic Development Administration: This U.S. Department of Commerce agency provides grants, resources, and technical assistance for communities to support economic growth and encourage entrepreneurship and innovation. Likewise, each state’s agency helps businesses find financing (including state or regional grants), secure locations, and recruit employees. You can search the economic development directories for regional offices and local resources.
Small Business Development Centers: The SBDC provides ways to find funding for small businesses and entrepreneurs. They’re often associated with local universities or a state’s economic development agency, and many can help connect you with small-business grants, as well as other business financing opportunities — plus, counseling, training, and technical assistance.
Minority Business Development Agency Centers: The MBDA runs a national network of business centers dedicated to growing and promoting minority-owned small businesses. These centers help business owners access capital, secure contracts, and compete in emerging markets. Your local MBDA center can help you apply for debt-based financing as well as federal, state, and local business grants. The agency usually holds an annual small-business grant competition and provides updates on this contest on its website.
Federal Grants, Funding & Benefit Programs
If you are part of an organization then you should use the Federal database for starters. There are so many programs for grants it is difficult to sort through. The government has set up various databases. The most thorough one is the Catalog of Federal Domestic Assistance (CFDA).
This catalog is a comprehensive list of all the available funding programs at all levels of government, nonprofit organizations, for-profit businesses, and other eligible types of funding.
Search Grants within Grants.gov you can also search, filter, and apply for specific opportunities to receive funding from any of these programs. Therefore, use it for a comprehensive database of grants administered by various government agencies, such as the departments of Education and Veterans Affairs.
All of these grants are for organizations only. For personal benefits visit https://www.benefits.gov/
Non-Federal Grant Programs
Candid is comprised of grants based in the U.S. and globally. Therefore they help research, education, and training programs designed to advance knowledge of philanthropy at every level.
Candid is an Information Network that facilitates access to grant resources and publications to under-resourced entities and communities.
Find State and regional directories that can also be used with some research. Try using the Community Foundation Locator to find a grant-making foundation in your region. You may also use your preferred web search engine to find your state’s grant or foundation directory. Also, local libraries may have access to subscription-based search engines or the Foundation Center Cooperating Collections, so visit your library to work with them for assistance.
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