When you’re starting a small business, every penny counts. So, where can you find the money to get your business off the ground? One option is to apply for a small business grant. Grants are available from various sources, including the government, private companies and nonprofit organizations. But finding and applying for grants can be time-consuming and confusing.

In this article, we’ll give you tips on finding a small business grant and increasing your chances of getting funding for your business. Read on to soak up all the information.

What Is a Small Business Grant?

A small business grant is a sum of money awarded to a small business to help with start-up costs or expansion. Government agencies or private foundations typically award small business grants. The application method for a small business grant can be competitive, and businesses often need to meet certain criteria in order to be eligible for funding.

However, the benefits of a small business grant can be significant, and it is worth investigating whether your business might be eligible for funding. Grants can help businesses grow and create new jobs, which can positively impact the local economy.

In addition, businesses that receive grants often become more visible within their community, leading to increased customers and sales. 

How Can You Find A Small Business Grant?

Now, we will look at the options where you can easily find grants for your small businesses.

Government grants

Government grants can be a great way to fund your small business. The government offers various grant programs with many opportunities for businesses from all backgrounds.

Grants.gov is the best place to start your search for a grant from the federal government. This website offers a comprehensive database of all the government grant programs available. Following are the grants issued by the different agencies of the government.

National Institute of Health Grants

The NIH is currently funding several grant opportunities related to COVID-19 research. These grants are reserved for small businesses that develop and explore biomedical technology. The NIH is looking for businesses that can develop innovative solutions to help fight COVID-19.

If your business has a unique solution that could potentially help in the fight against COVID-19, you should apply for one of these grants. The NIH is committed to funding examination that has the potential to make a real difference in the fight against this pandemic. So if you think your business has what it takes, don’t hesitate to apply for one of these grants.

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

The U.S. Department of Commerce (MBDA) offers targeted grants and loans to aid minority-owned businesses. Minority-owned businesses can find information about local MBDA Business Centers at MBDA.gov. The MBDA is committed to helping minority-owned businesses grow and prosper.

Through the MBDA Business Center network, minority-owned businesses can access various resources, including financing, technical help, and market opportunities. The MBDA also provides training and counseling services to help minority business owners start and grow their businesses.

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

The STEP grant program is a federally funded initiative that assists small businesses that want to start exporting their products. The program works by distributing funds to state entities, assisting small businesses that meet their criteria.

This assistance can take the form of participating in foreign trade missions and shows, accessing foreign markets, developing websites, or designing marketing campaigns. The STEP program is a great way for small businesses to get started in the world of exporting and can help them reach new markets and customers.

U.S. Economic Development Administration (EDA)

The U.S. Economic Development Administration (EDA) is a unique funding opportunity for projects that support regional and national economic development. The EDA offers a variety of rolling-basis investments that fund projects in construction, non-construction, planning, technical assistance, research and evaluation, higher education and more.

Applicants can apply for various EDA investments that will fit their project’s needs. The EDA is part of the U.S. Department of Commerce and is committed to helping applicants secure the funding they need to succeed.

The EDA has a long history of supporting successful projects across the United States and is an essential source of funding for many communities.

Trade Adjustment Assistance For Firms

Given the current trade situation, the Trade Adjustment Assistance For Firms (TAAF) program is more relevant than ever. This program provides much-needed financial assistance to manufacturers impacted by import competition. Best of all, it comes with very few strings attached.

Firms can qualify for up to $75K in federal match funding, which can be used to help them recover from business decline. The Economic Development Administration (EDA) funds local assistance centers that are available to help businesses reduce application paperwork.

Take advantage of this program if you’re a manufacturer impacted by import competition. It could be the key to getting your business back on track.

Small Business Technology Transfer Program (STTR)

The STTR program is a government-sponsored program that funds research and development in small businesses. The program is similar to the Small Business Innovation Research (SBIR) program but has a few key differences. For one, the STTR program requires the small business to formally collaborate with a research institution.

This may be a joint research project or a licensing agreement. In addition, to qualify for STTR grants, the small business must be for-profit and meet other requirements. The STTR is an important funding source for small businesses engaged in cutting-edge research.

By collaborating with a research institution, small businesses can tap into a wealth of knowledge and resources. Furthermore, by receiving STTR funding, small businesses can show their commitment to innovation and ability to compete in the global marketplace.

NIDILRR’s SBIR Program

The National Institute on Disability Independent Living and Rehabilitation Research (NIDILRR) SBIR program is designed to help organizations improve the lives of people with disabilities. The Small Business Innovation Research program (SBIR) will provide 10 grants totaling $1 million to support the development of new technologies and services.

The grantees will be selected based on their ability to demonstrate the potential for their products or services to improve the lives of people with disabilities. The grantees will also be required to show how their products or services can be used to support the social and economic benefits of the nation. For more information about this program, please visit the ACL website.

NIA Research and Entrepreneurial Development Immersion (REDI): Entrepreneurial Small Business Transition Award

The National Institute on Aging (NIA) is excited to announce that the Research and Entrepreneurial Development Immersion (REDI) Small Business Innovation Research (SBIR) Grant is now open for qualified applicants.

This funding opportunity aims to support early-career scientists interested in entrepreneurship to make an easier transition into the industry. Those with “strong research skills and experience in technology discovery” and an interest in growing their entrepreneurial skillsets are highly encouraged to apply.

The NIA recognizes a growing trend of scientists who want to take their research from the lab and into the marketplace, and this grant is designed to help them do just that. Applications will be open until February 17, 2023.

Government Contract Assistance

Multiple programs are available to help smaller businesses with the application process for federal funding, giving them a greater opportunity to be awarded funds.

Service-Disabled Veteran-Owned Small Business Program

The Service-Disabled Veteran-Owned Small Business Program is a great way for small businesses to get government contracting opportunities. This program offers assistance to small business owners who are service-disabled veterans.

Eligible small businesses must be over 50% owned/controlled by one or more service-disabled veterans, have day-to-day operations and long-term goals managed by at least one service-disabled veteran and have a service-connected disability. This federal contracting program provides access to government contracting opportunities and preferences in awarding contracts.

The federal government seeks to award at least 3% of all federal contracting dollars to such businesses annually, so this program helps meet that target.

Women-Owned Small Business (WOSB) Federal Contracting Program

The SBA’s Women-Owned Business Federal Contracting Program was created to help level the playing field for women entrepreneurs competing for federal contracts. The program supports women entrepreneurs through business training, counseling and access to credit and capital.

Their goal is to offer equal opportunities for all women in business. The WOSB Program has been a success, and the federal government has met its goal of awarding 5% of federal contracting dollars to women-owned businesses annually.

The program continues to grow, and the SBA is committed to helping more women prosper in business.

HUBZone Program

The HUBZone program (Historically Underutilized Business Zone) is a great way for businesses to get an edge on the competition. By becoming certified, businesses can access a variety of government contracts that they may not have been able to before. In addition, the HUBZone program provides a 10% price evaluation preference in open contract competitions.

This significant advantage can help businesses save money and win more contracts. The HUBZone program is a valuable resource for businesses seeking to expand their operations and compete in government contracting.

General Small Business Grants

Many organizations offer grants and other assistance to small businesses. You may qualify for the following programs if you own a small business.

500 Global Flagship Accelerator Program 

The 500 Global Flagship Accelerator program offers startups and small businesses the opportunity to receive funding and participate in a four-month accelerator program based in San Francisco. Since 2010, this program has helped countless businesses get off the ground, and it continues to be one of the most popular options for entrepreneurs seeking funding.

The application process is straightforward, and the company’s website provides all the information you need to start.

Business Warrior Small Business Loans

Business Warrior is tackling small businesses’ cash flow crisis by making $5 million in small business loans available. Business owners can apply for loans of $5,000 to $50,000. The loans come with low rates and flexible terms, making them more affordable and practical than cash advances from other companies.

With this injection of capital, small businesses can keep their doors open and continue to serve their communities. Business Warrior is committed to helping small businesses thrive; this is just one way we accomplish that goal.

Fresh Start Business Grant

The Fresh Start Business Grant from Incfile is perfect for new business owners or entrepreneurs who need capital to grow or launch their businesses. The grant provides $2,500 in funding, plus Incfile’s free gold plan, which includes everything you need to get your business up and running.

The grant is open to businesses of all types, and there are no restrictions on how the funding can be used. So whether you need help with marketing, advertising or any other business-related expense, the Fresh Start Business Grant can give you the boost you need to succeed. Deadline—March 31. Apply today and get your business off to a fresh start!

Small Business Digital Ready Program 

The Small Business Digital Ready Program is a unique opportunity for small business owners to get expert coaching and networking while being eligible for a $10,000 grant. The scheme is in partnership with Verizon, and the free online curriculum includes two courses to help you succeed in a digital world.

Once you register for the program and take the two courses, you will be eligible for the grant. You can learn more about this amazing opportunity on the program’s webpage. So don’t wait. Register today, get a grant and start your journey to success.

Small Business Readiness for Resiliency Program

Being a small business owner often comes with a lot of challenges. There is never a guarantee that your business will succeed, and it can be difficult to recover when disaster strikes. The Small Business Readiness for Resiliency (R4R) Program is here to help. Created by the U.S. Chamber of Commerce Foundation and FedEx, the business plan provides small businesses with the resources they need to prepare for disaster and stay afloat during difficult times. More than 100 grants of $5,000 each are available, so don’t miss your chance to apply.

These are just a few of the grants for small businesses that are currently available. So if you require funding, don’t wait! Apply today. With a little help, you can take your business to the next level. The application process is straightforward, and the programs’ websites provide all the information you need to start. When applying for a grant, be sure to read the eligibility requirements carefully and follow all instructions. You can secure the funding you need to grow your small business with a little effort. The sooner you apply, the better your chances of success.