Where can I discover grants for small businesses and how can I apply for them?
Government and non-governmental organizations both offer grants to small businesses to help them compete on an equal footing in the marketplace and expand. The largest database of federal grants, including those for small businesses, is Grants.gov. The Small Business Technology Transfer (STTR) and Small Business Innovation Research (SBIR) award programs are dedicated to the advancement of technology and innovation. Additionally, the program facilitates access for small enterprises to 11 government agency contracts as well as federal small business awards. You must meet the program's qualifying requirements and your company's staff count cannot exceed 500 to be eligible.
Grants for SBIR and STTR are typically available in the following two phases:
Phase I: For SBIR and STTR, the reward is between $50,000 and $250,000 for a period of six months, respectively.
Phase II: For both STTR and SBIR, the award typically lasts for two years and amounts to $750,000.
Grants offered by the SBA and USDA
The Small Business Administration's (SBA) Program for Investors in Microentrepreneurs (PRIME) provides federal small business grants to microenterprise development organizations so they can support underserved microentrepreneurs. The Rural Business Development Grant Program is managed annually by the U.S. Department of Agriculture (USDA) through its state or local offices. Through small company grants, Small company Development Centers, or SBDCs, assist small businesses and aspiring business owners. Local colleges or the state's economic development agency frequently provide the assistance.
Grant from the State Trade Expansion Program (STEP)
Every year, the FedEx Small Business Grant Contest awards grants totaling $250,000 to 10 small businesses, with the grand prize winner receiving a $30,000 grant and $1,000 in FedEx print credits. State entities are provided grants through the State Trade Expansion Program (STEP) to aid in growing their sales and exports. With the assistance of this small company grant, small companies can engage in international trade missions, learn how to export, and create items that will sell well overseas. Small business grants are offered by the U.S. Department of Agriculture (USDA) to companies with fewer than 50 employees and annual gross revenues of less than $1 million. The company ought to be active in rural areas with fewer than 50,000 inhabitants. Other rural grants, loans, and loan guarantees are also provided by the USDA.
Keep your records well-organized and complete
Government incentives for small enterprises are widely available, however the application process is occasionally highly demanding. As a result of the extensive documentation requirements, many applicants become disheartened during the application process. Above all, you must fulfil the requirements for eligibility. Since the grant application window is typically available for a brief period of time and the waiting time for acceptance is minimal, your documentation should be organized and comprehensive, and you must follow the set dates. Your application for small business grants could be turned down even for a little error.
To ensure your success, GovernmentGrants.us provides grantees with expert assistance through its team of qualified grant writers. The website includes comprehensive information on small business grants as well as other grant opportunities, such as grants for minorities, grants for childcare, grants for paying bills, awards for land development, and more. A monthly cost of $29.95 is required to access all of these grant opportunities; this fee is refunded if your grant application is denied.