Small Business Grants | Find Free Money for Start Ups

Last Updated on October 27, 2021

Grants for starting a small business

Small businesses are in a competitive marketplace, but they can get help from the government or private companies. Help can be in the form of a grant, a loan, or tips to compete in an unfriendly business climate. This is a summary to show you what small business start-up grants are available.

A startup grant is money from the government or a non-profit that is given to assist small firms and NGOs in growing and expanding their business. Unlike loans, there are no payments required. There’s no need for collateral, and there are no interest or costs involved. If you received a grant to develop your company’s technology but then employed it to pay your workers, you’ve committed an act of fraud.

COVID-19 Stimulus

Small, micro, and solo enterprises in communities all across the United States are facing a variety of problems as a result of the COVID-19 public health emergency and economic downturn. The Treasury Department is assisting small businesses throughout the country by providing essential capital and assistance to help them not only survive but also recover on a firm footing.

SMALL BUSINESS TAX CREDIT PROGRAMS

The American Rescue Plan provides numerous tax credits, including the Employee Retention Credit and Paid Leave Credit, to small firms.

EMERGENCY CAPITAL INVESTMENT PROGRAM

Low-and moderate-income community financial institutions can benefit from the Emergency Capital Investment Programs.

PAYCHECK PROTECTION PROGRAM

The Paycheck Protection Program is assisting small businesses with the tools they need to keep their payroll running and rehire laid-off workers while covering necessary overhead expenses.

Small Businesses owned by members of refugee communities

The Treasury Department is working closely with the federal Office of Refugee Resettlement, which will be providing an influx of much-needed capital into small businesses that are owned or operated by members of refugee communities. Through the Community Capital Fund, members of these communities will have access to short-term loans at very modest rates to help them get back on their feet. The Fund has already distributed nearly $1 million in loans since May 14th.

Another important benefit for refugees is the recently announced increase in the number of government contracts available to small businesses operating within refugee communities. During last week’s press conference announcing the COVID-19 public health emergency, President Anthony Williams said that small companies would receive priority status when bidding for contracts related to this crisis.

See also  What is an SBA Loan? Key Factors You Should Know

Small business start up Government grants

At Grants.gov, you can find a federal grant. It has the most up-to-date list of grants available. There are many scholarships to apply for, including ones open to companies from various backgrounds.

Some government aid is for small businesses, but not all of it is. Some cash gets transferred to state and local governments and agencies, non-profit organizations, and educational institutions. They then spend the money or use it to offer technological or instructional help on a local level.

In addition to the programs described here, look into your state and local governments. You might qualify for more than one program while you are looking into grant and contract alternatives.

$100,000 for Start a SUD Startup

The National Institute on Drug Abuse (NIDA) will give $10,000 to each of the ten winners. The money is for starting a business that focuses on substance use disorders.

COVID-19 Economic Injury Disaster Loan

Small businesses may get up to $10,000 in Targeted EIDL Advances through the SBA. These businesses must be located in economically depressed areas and are losing money because of the flu pandemic.

National Institute of Health Grants

The National Institute of Health is giving money to those who want to do research on COVID-19 through grants. The NIH will give money to small businesses which create and investigate medical technology. There are many awards on offer with different deadlines.

Shuttered Venue Operators Grant

The Shuttered Venue Operators Grant (SVOG) is a program sponsored by the US Small Business Administration for live venue operators like theatres and museums that were in operation as of February 29, 2020, and were impacted by the coronavirus pandemic. Small enterprises may apply online and receive equal to 45% of their 2019 gross income.

Small business start up grants Innovation Research Program (SBIR). 

The Small Business Innovation Research Program provides funds to small businesses so they can participate in research and development on a federal level. It is a competitive awards-based program that aids firms in achieving scientific excellence and technological innovation. To qualify for SBIR grants, you must operate a for-profit business and meet other criteria.

Small Business Technology Transfer Program (STTR)

The STTR program is like the SBIR program. The difference between them is that in order to get funding from the STTR, you need to have a collaborate with a research institution.

U.S. Department of Commerce Minority Business Development Agency (MBDA)

The SBA gives money to small businesses. They give loans and grants to people with the name of a minority. You can learn more about their local MBDA Business Centers on MBDA.gov.

U.S. Small Business Administration State Trade Expansion Program (STEP)

This program helps small businesses trade internationally. States give money to the federal government, and they can use it to go on international trips. Then you can go on an international trip with the help of this program.

See also  Startup Loans For Business

U.S. Economic Development Administration (EDA)

The EDA helps projects that promote economic development. Applicants can apply for a variety of investments from the EDA, including those that support projects in construction, non-construction planning, technical assistance, research and evaluation, and more.

If you take money from the government, there are some rules. It might be complicated and take a lot of time. Double-check to see if you are qualified before applying. There is also reporting and auditing that will need to happen after you get the grant.

Grants for women’s small business start

Women-Owned Small Business (WOSB) Federal Contracting Program

The federal government wants to spend at least 5% of its contract dollars on women-owned small businesses each year. The Office of Women’s Business Ownership helps female entrepreneurs with business training, counseling, federal contracts, and access to credit and capital through the SBA program. Its mission is to provide equal opportunities for all women in the workforce.

Jane Walker IFW First Woman Grant Program

Johnny Walker is working with IFundWomen to create a grant program that gives money to women who own companies like entertainment, journalism, and STEM. This year, 15 winners will get $10,000 in cash and IFundWomen membership for one year.

SoGal Black Founder Startup Grant

SoGal set up the SoGal Black Founder Startup Grant to help Black women and non-binary entrepreneurs.

Equity Match Grant Program

The Equity Match Grant Program is a way for women to get $10,000 from the state of Connecticut. They need to give a plan about how they will use the money to make their business more profitable.

Amber Grant Foundation

The WomensNet-sponsored Amber Grant Foundation was established in 1998. They give money to female entrepreneurs who have a good story.

Foundation for a Just Society Grants 

The Foundation for a Just Society provides funds to organizations working with women who have rights in their area, in different countries, and across the world. Contact them to find out more about individual grants.

Galaxy Grant

You might need to fill out lots of forms when applying for government grants. For example, you might have to write an essay, provide recommendations, and make a business plan. But owners of small companies can apply for the Galaxy Grant by filling in their details. If you are a minority or woman entrepreneur, submit your application before September 30th.

IFundWomen COVID-19 Relief Fund

USAID has set up a COVID-19 Relief Fund. This fund can provide microgrants and free coaching to women who own firms that were affected by COVID-19. USAID gives these grants on a rolling basis. Women entrepreneurs must start campaigns with IFW in order to be considered for the grant.

See also  Business Loans: The Complete Guide and Their Many Uses

Live Your Dream: Education And Training Awards For Women

It can be hard to balance work with family. The Live Your Dream Awards give money to women who are trying to find a better life. Women must meet certain requirements on the organization’s website, with November 15 as the deadline for submission.

The New York City Women’s Fund for Media, Music and Theater

The Women’s Fund for Media, Music, and Theater is giving $2.5 million to women who are underrepresented in the communications sector for the third year in a row. You can apply across different categories like theater or documentaries, but you need to know if they apply to you.

Swiftarc Beauty Fund

A $10 million beauty fund that was created by people in the beauty and finance industries is being launched. The winner of this will get money and networking opportunities with other influential women.

Grants to start a small business – What Is a Startup Small Business Grant?

A small company or nonprofit startup grant is money from the government or a non-profit that they provide to help tiny firms and NGOs succeed in developing and growing their business. Unlike loans, you don’t need to repay the money. There’s no requirement for collateral, nor are there any interest or fees involved.

If you get a grant, you must follow the rules that are given. You can’t use it for anything other than what the grant is for. If you got a grant to help your company’s technology but then used it to pay your staff, that would be a fraud.

What Conditions Must I Meet in order to receive a Startup Small Business Grant?

Searching the internet for grants does not always bring up a list of current, comprehensive funding opportunities. You may be able to find small business grants by visiting certain websites or organizations.

How to Get a Small Business Grant for Your Start-Up

To get a startup company grant, you need to take time and do work. You will need to gather details before you apply.

An application for a grant may ask you to tell about what you will do and how much money your organization has. Find people who are not in your organization to help you fill out the application. You need to put all of the information on it.

You should first look for grant opportunities online. Get information about who offers them and how to apply. You can ask other small businesses if they have applied for grants before you go ahead with the process. However, do not give away any company secrets or strategies.

Tags:

Add a Comment

Your email address will not be published. Required fields are marked *