Helpful Grants for Small Businesses
Getting as much help as you need will always be a good choice whether you’re just a startup business or not. But most especially when you’re a startup.
Researching and applying for financing requires time and work, but if you are successful in getting a grant for your small business, the effort may be worthwhile. Here is a list of federal, state, and private small-business grants and resources to get you started.
Federal Small-Business Grants
- Grants.gov – an extensive database of grants distributed by multiple and different government agencies including the departments of Veterans Affairs and Education.
- Small Business Innovation Research and Small Business Technology Transfer programs – both the SBIR and STTR exhaust their attention on research and development for technology innovation and scientific research. These programs assist small businesses to connect with federal grants and contracts from multiple government agencies. A for-profit business with no more than 500 employees as well as other eligibility requirements must be met so that you may qualify for their grants.
- USDA Rural Business Development Grants – Rural Business Development Grant program, administered by the U.S. Dept. of Agriculture, offers financing to help support small businesses within rural communities. Businesses must have less than 50 new employees and qualify. Moreover, their location must be within an eligible rural area as well. USDA Rural Development’s local or state offices are the ones that administer the applications.
State and Regional Small-Business Grants
- Economic Development Administration – the US dept. of Commerce is the department that distributes grants, resources, as well as technical assistance to help with economic growth for communities and encourage their entrepreneurship and innovation. Every state agency provides support for businesses to find financing such as state or regional grants, secure locations, and recruit employees.
- Small Business Development Centers – SBDC aims to provide growth for small businesses and aspiring entrepreneurs and are mostly associated with local universities or a state’s economic development agency; several of which offer help to connect businesses with small-business grants, as well as other business financing opportunities — including counseling, training, and technical assistance.
- Minority Business Development Agency Centers – The MBDA manages a national network of business centers that aim to support and promote minority-owned small businesses. These centers help business owners access capital, secure contracts, and compete in emerging markets. MBDA center can help you with applying for debt-based financing including federal, state, and local business grants.
- National Association for the Self-Employed: NASE members can apply for monthly $4,000 small-business grants and a $3,000 college scholarship for dependents. Applications are examined quarterly in January, April, July, and October
COVID-19 Small-Business Grants
- State and local coronavirus small-business grants- Some state and local governments still offer COVID-19 grants. New York’s COVID-19 Pandemic Small Business Recovery Grant Program offers free financing for up to $50,000 to small businesses.
In Sonoma County, microbusinesses can get $2,500 under the California Microbusiness COVID-19 Relief Grant Program. Visit your secretary of state, department of economic development, or other local government websites to learn about business alternatives.
- Corporate COVID-19 small-business grants- Although several private companies have ended coronavirus relief grant programs, you may locate a few that are still taking applications.
- The nonprofit Main Street America continues to offer its Inclusive Backing Grant Program with American Express. This initiative is now giving COVID-19 relief funds to brick-and-mortar companies run by women, nonbinary persons, and veterans.
It is difficult to manage a small business in today’s market, but there are a few government initiatives and grant funds that can help you in the short term. Uptrend Business, on the other hand, can be highly beneficial at this time because you can obtain personalized grants for your business and build vital relationships with experienced agents. Many investors are looking to invest in businesses for the long term, and if you have a good business idea, you may be able to obtain the business support and financial assistance you require.
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