Grants for Starting a Small Business : Current School News

Grants for Starting a Small Business

Filed in Education by on June 17, 2022

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– Grants for Starting a Small Business –

Grants for starting a small business provide entrepreneurs the chance to get free money to help their firm grow. Continue reading to learn more about this funding opportunity.

Grants for Starting a Small Business

About Small Business Grant

Small businesses are facing difficult times, but assistance is available from both the federal, state, and municipal governments, as well as the private sector.

It might come as a grant, a loan, or a competitive advantage in a challenging business climate.

Here’s a breakdown to assist you in figuring out what’s out there. Most startups, however, will require more investment to attain this aim.

The first step in obtaining a new business grant is to determine which one is most suited to your company’s needs.

Not only does filtering out the grants that are suitable for your business make the application process easier, but it also raises your chances of getting the money you require.

Top List of Grants for Starting a Small Business

I’ve put together a list of small business grants that you could qualify for.

1. Small Business Innovation Research Program

The SBIR program awards funding to startups and entrepreneurs to help them develop and explore high-tech technologies for federal agencies with commercialization potential.

Homeland security, clean drinking water, healthcare, green construction, and other fields are common topics for firms that receive this investment.

The goal of this program is to promote scientific brilliance and new technologies in order to help the US economy grow and develop.

The SBIR program helps eligible technology entrepreneurs study and develop innovative technologies by providing considerable seed money and contracts with government organizations.

Eligibility Requirement:

1. The number of employees employed by the applicant must be under 500.

2. A for-profit company is required to apply.

3. One or a combination of the following must have a majority of ownership:

â–¸Citizenship or permanent residency of one or more people

â–¸Other enterprises that are for-profit.

â–¸Hedge funds, private equity firms, and venture capital businesses are all examples of venture capital firms. A for-profit company is required to apply.

Amount: $150,000-$1 million

CLICK HERE to Apply

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2. FedEx Small Business Grant Contest 

FedEx offers one of the most well-known small company awards. Designed to assist growing enterprises, this is an excellent grant option for anyone wishing to expand their small firm.

Twelve entrants will get funding, with the first-place winner receiving $50,000 and $7,500 in FedEx credit.

Unlike other awards that need a formal application, the FedEx small business grant just requires a one-minute video, a logo submission, photographs that show your company’s spirit, and a brief description.

Eligibility Requirement:

1. Applicants must have been in business for at least one year.

2. Applicants must employ less than 50 people.

3. Within the last 12 months, applicants must have used commercial shipping services.

Amount: $15,000-$50,000

CLICK HERE to Apply

3. Amber Grant

The Amber Grant Foundation was formed in 1998 by WomensNet in honor of a promising businesswoman whose life was cut short.

Since then, the foundation has given a woman-owned business $10,000 every month, plus an additional $25,000 to one of the twelve winners each year.

The Amber Award allows women-owned businesses and prospective entrepreneurs to describe and express their company goals in order to compete for the grant each month throughout the year.

Eligibility Requirement:

1. The applicant must be a woman-owned business.

2. Applicants must reside in the United States or Canada.

3. A $15 application fee is required of all applicants.

Amount: $10,000-$35,000

CLICK HERE to Apply

4. Minority Business Development Agency

Minority-owned firms can use the MBDA to get grants, consultancy, and other types of business support.

Unlike the other organizations on this list, the MBDA functions by awarding funds to Minority Business Centers around the United States.

You may uncover grants that your firm qualifies for as well as a plethora of other resources accessible to minority-owned businesses by looking for a Minority Business Center near you.

Eligibility Requirement:

1. To have their applications monitored, applicants must get a Data Universal Number System (DUNS).

2. A minority-owned firm is required to apply.

3. Applicants must use the System for Award Management Registration to register their application (SAM).

Amount: Varies

CLICK HERE to Apply

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5. US Economic Development Administration

The EDA is a US Department of Commerce department that helps small company owners and entrepreneurs through grants, tools, and assistance.

This organization’s purpose is to empower small company owners with funds so that they may devote more time to innovation and entrepreneurship.

Eligibility Requirement:

1. Because of the EDA’s role as a grant finder, eligibility will vary depending on the grant you’re applying for. Before submitting your application, make sure you read the criteria thoroughly.

2. Because all loans are processed via Grants.gov, applicants must first register an account.

Amount: Varies

CLICK HERE to Apply

Thank you for taking the time to read this article on Grants for Starting a Small Business. If you found this article useful, please share it on social media with your friends and family.

CSN Team.

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