1. Small Business Innovation Research (SBIR) Program
This U.S. government initiative supports businesses engaged in research and development. SBIR grants fund early-stage innovation across science, tech, and engineering fields, helping small businesses bring new ideas to market.
2. Small Business Technology Transfer (STTR) Program
Similar to SBIR, the STTR program also targets R&D but requires collaboration with a nonprofit research institution. These grants encourage public-private partnerships and support commercialization of innovative tech solutions.
3. Local Government Grants
Many city and county governments offer grants for small businesses, especially those that boost local economic development. These grants often support specific industries or community-focused initiatives, such as minority-owned or women-led businesses.
4. Minority Business Development Agency (MBDA) Grants
The MBDA offers competitive grants to support minority-owned businesses. Grants often fund projects that promote job creation, innovation, or improved access to markets.
5. Women-Owned Business Grants
Several organizations, including the Amber Grant Foundation and Cartier Women’s Initiative, provide funding specifically for female entrepreneurs. These grants support women-led startups and help close gender gaps in entrepreneurship.
6. State-Specific Grant Programs
Each U.S. state has its own small business grant programs managed by local economic development agencies. These grants often focus on regional needs and may support sectors like agriculture, manufacturing, or green energy.
7. COVID-19 Relief and Recovery Grants
While many COVID-19 programs have ended, some local governments and nonprofits still offer recovery grants for small businesses impacted by the pandemic. These grants help rebuild businesses and support job retention.
8. Economic Development Administration (EDA) Grants
EDA grants promote economic development in underserved areas. Small businesses contributing to job creation or revitalizing local economies may qualify. Applications are competitive and often require a detailed project proposal.
9. USDA Rural Business Development Grants
For businesses in rural areas, the U.S. Department of Agriculture provides grants to help with development, training, and expansion. These grants support small and emerging private businesses that enhance rural economies.
10. Nonprofit and Corporate Grant Programs
Corporations like FedEx, Verizon, and Wells Fargo often run grant contests or business challenges to fund small businesses. These grants may come with additional benefits like mentorship, marketing exposure, or networking opportunities.
Frequently Asked Questions
What is a small business grant?
A small business grant is a non-repayable fund awarded to entrepreneurs to support the start-up or growth of their business.
Do I have to repay small business grants?
No, unlike loans, grants typically do not require repayment as long as you meet the terms and conditions.
Who qualifies for small business grants?
Eligibility varies, but many grants are aimed at new startups, minority-owned businesses, women entrepreneurs, or companies in specific sectors.
How can I apply for small business grants?
Applications are usually submitted online with business plans, financials, and a statement of purpose. Each grant has its own process and deadlines.
Are small business grants available year-round?
Some are seasonal or one-time programs, while others are open year-round or renewed annually. Check official sources for updated deadlines.
Do grants cover all business expenses?
Grants typically cover specific costs like R&D, equipment, training, or marketing—not always full operational expenses.
Conclusion
Small business grants provide crucial funding without the burden of repayment, offering a leg up for entrepreneurs looking to grow. Whether you’re a tech innovator, rural startup, or minority entrepreneur, there’s likely a grant program tailored to your needs. Actively seeking out and applying for the right grants can significantly impact your business success and sustainability.