WHAT ARE BUSINESS GRANTS?

In order to create your own business, you’ll have to invest a pretty big amount of money. If your aim is to be an entrepreneur owning and running a business you’ll have to deal with a lot of upfront costs. That’s why people with great ideas choose funding to expand and materialize them into businesses.

Now let’s talk about grants. What exactly are business grants? Unlike loans, they are money you can direct towards building your business, without having to pay them back. There aren’t any strings attached and if you’re applying to a specific grant, you’ll be able to use the money only for the business, and not for personal matters for example.

Business Grants Structure

So how do they actually work? By obtaining a business grant you’ll forget the stress of bank loans in order to put create a solid base for it.

If you want to obtain this kind of grant you can do it through:

  • Federal Government; – has a larger palette of grants available.
  • State Government; –
  • Local Government; – has more rewards for businesses that give back to the community.
  • Corporations;
  • Special Interest Grants; – concentrating on empowering minority groups (female entrepreneurs, minorities, education, special needs groups, etc).

Each grant has its specific benefits and you should search for the ones that will meet your needs the most. Grants will be applied to different domains explained in the application. For example, there are grants for technology, building fees, hiring fees, building, sustainability, and so on. It’s easy understanding how to apply for a business grant as there are a lot of sources out there that could help your company grow.

It can take a lot of time to find the perfect grant that’s why, at the end of the article I’ve gathered together best sources where to go and apply for your most suitable grant.

How to Apply for Business Grants. There are many people qued for grants so, if you want to obtain it, you should prepare yourself with patience and great reasons to obtain it. You should find the best reasons why your company deserves to receive it.

 

Are You Ready to Receive a Business Grant?

Firstly, are you a small business owner? Do you have a start-up or at least the business plan? Then you’re the perfect match. Create the perfect application and concentrate in it more on what you will give and what others will have to gain instead of personal matters.

Why Should You Apply for A Business Grant? I believe they can be really helpful in starting or expanding your business. Though it may take a while to obtain it, you will definitely enjoy its benefits instead of being stressed with giving back some loans.

 

 Sources for Business Grants: 

  • Grants.gov
    The widest platform for grants. Search by category, need, agency and eligibility.
  • USA Grant Applications;
    This type of grant is available for anyone, you can choose any area you need investing in.
  • Mltapthefuture;
    Perfect for young small business owners (21-35 yo)  with a business that is less than 5 years old.
  • NASE Grants;
    This association offers $4000 to a member each month and the membership costs $120/year.
    It’s eligible for micro-businesses that need funding in a specific area.
  • Access Financing;
    Depending on your business needs, this useful online tool will lead you to the perfect grants or loans.
  • Sbir Grants;
    They are concentrating on companies related to innovation and technology.
  • SBA Sponsorships;
    This organization is offering grants to 100 business centers for women in all USA.
  • Local SBA;
    You’ll be helped by advisers to find the best grants for your business needs.
  • Economic Expanding Agencies;
    In order for a city to have a strong economy, they’ll create these economy development agencies that will help you grow your business. You can find a lot of information on their sites.
  • FedEx Small Business Contest;
    FedEx is directing $25 000 every year towards a small business. How to apply for it in the link.
  • Bill and Melinda Gates Foundation Grand Global Challenges;
    If you have a business that solves a health or development problems through innovation you should definitely try this grant. 
  • Caleb Brown Urban Entrepreneur’s Community Grant;
    The grant is open to startups and young businesses in urban areas and there are available $1000 each month for young entrepreneurs wanting to rebuild local blocks or neighborhoods.

If you want to know ALL ABOUT GRANTS read our article to be up to date with everything.

 

 

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