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No matter what type of small business you have, there are grants available to help you grow your business. Read on to learn more about 21 database rendering options.
Small business grants provide funds to grow your business in many ways. In many cases, you can use the grants for things like operations, marketing, or expanding your team. Finding out who you may qualify for is important so you can start applying.
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In this article, we’ll go over the basics of grants and give you tips on how to get more.
Small business grants are amounts of seed money given to entrepreneurs to build their business. Grant money is considered “gifted” and does not have to be repaid. Sometimes you have to pay taxes on the amounts received, so keep this in mind and talk to a tax professional.
Tip: Search grant databases like GrantWatch to find grants available in your industry. GrantWatch is an online hub for over 26,000 grants in the US and Canada where you can easily search for different funding opportunities by filtering your details.
A loan is financing that you have to pay back to the lender who lends you the money. In contrast, a grant is a “gift” of money that does not have to be repaid.
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You must apply for both grants and loans, but a loan application considers your ability to repay the money, while a grant application considers your merit as applied to the provision rule.
There are many types of agreements available to small business owners and they fall into four main categories. Your eligibility for these grants will depend on your products and services, how you own your business, and your business mission.
There is a lot of grant money available to entrepreneurs. Find funding from the following sources to help your business. These offers are available at the time of publication and may not be available.
The US Department of Health and Human Resources created Grants.gov in 2002. It is an e-government program managed by the Office of Management and Budget. The program provides resources and assistance to help applicants find and receive funding.
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The website allows you to search for federal grants and check your eligibility before applying for one. You can also track your grant applications once they have been submitted.
While some grants have stipulations such as industry, type of business, size, and location, your local Chamber of Commerce should be able to connect you with grants that fit your situation. Their team can also provide you with small business finance services, advice and resources.
The Small Business Innovation Research (SBIR) program is a competitive grant program for small businesses. This program helps finance entrepreneurs in the research and development industry to support innovation in science and technology.
A solid business plan is required before applying. A plan will explain the direction of your business and how it will benefit your community.
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Technology transfer programs for small businesses are similar to SBIRs, but focus on the technology industry. This grant is awarded to companies in the technology sector.
FedEx is running a small business grant competition to provide funding to ambitious entrepreneurs. The competition is fiercely competitive, with nearly 18,000 applicants for the 10th annual scholarship in 2022.
This grant is open to small business models with a story “worth telling”, so if you are thinking about applying, point out what makes your business unique.
The National Association for Entrepreneurship (NASE) Growth Grant was established in 2006. Over the years, NASE has awarded approximately $1,000,000 to entrepreneurs to help grow small businesses.
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You must be a NASE member to apply for this grant, but winners will receive up to $4,000 to go toward marketing, team growth, and other needs.
Many small business grants are available only to women, and more emerge each year to address the funding disparity.
WomensNet established the Amber Grant Foundation in 1998. Its mission is to help aspiring small businesses finance their dreams in honor of Amber Wigdahl, the grant’s namesake.
On the first week of each month, $10,000 will be awarded to a woman following her passions in business, from “scientific inventors to bakers,” according to the WomensNet site. At the end of each year, it also gives a woman $25,000.
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Each year, the Live Your Dream Foundation provides $2.1 million in girls’ education funding for Soroptimist International. This foundation focuses on women who have survived sexual violence or other traumatic events.
The Live Your Dream Foundation provides programs and funding that help women build confidence, advance their careers and overcome unexpected situations. While prize money ranges from $1,000 to $10,000, being an international finalist allows winners to receive a maximum of $16,000.
This grant program is for green and sustainable women businesses from around the world. Cartier offers three types of funding: regional awards, awards for diversity, equity and inclusion, and pioneer awards in science and technology.
The American Association of University Women not only offers academic and research grants, but also professional development grants for women who want to change careers or re-enter the workforce.
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In addition to individual career-enhancing scholarships, AAUW also provides funds for projects that encourage and advance the careers of women in technical fields.
Stacy’s Snacks is a women-led brand that launched the Rise Project to help women grow their businesses in the food industry. The project offers funding, as well as mentorship and community and networking opportunities.
Designer Tory Burch has a foundation with the goal of advising and encouraging women entrepreneurs in all walks of life.
In addition to the financial grant, the scholarship program offers a one-year educational model with mentorship tailored to your needs. The foundation also provides peer networking for other recipients and a trip to Burch’s New York office.
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Many small business grants celebrate this diversity by offering grants
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