List Of Small Business Government Grants

Do you want to open or expand your existing small business? If yes, here, are the best government grants that can help you achieve that. There are different types of finan

Do you want to open or expand your existing small business? If yes, here, are the best government grants that can help you achieve that. There are different types of financial routers, especially for small businesses that will help you secure funding. Government grants are the best option for small businesses globally.

Government grants are offered by state, local and federal governments to help small businesses grow, open, and develop their business. Here, we’ll outline a list of the best government grants for small businesses.

Let’s get started!

What is the small business grant?

A small business grant is a free money given to entrepreneurs to open, expand or develop their companies.  The advantage is that you don’t need to pay back the grant. But they come with restrictions on how the money could be spent. Although it’s free money, it doesn’t come easy as you might think. 

You need more preparation and time to apply.  Plus, they're more competitive. So, small business owners should apply for grants, which they’re eligible for. Small business leaders and entrepreneurs can effortlessly apply for different types of small business grants such as private grants from the government and corporations’ grants from the state, federal, and local governments. 

Further, Small business grants are available for specific people and industries.  For instance, if you’re an upcoming entrepreneur, there are a series of small business grants that suits you.

Business Loans vs. Business Grants    

As mentioned, you don't need to repay grant funds.  However, if you've recently opened your business, likely you aren’t eligible for many grants out there. In addition, grants have strict requirements based on their proposal and application process. So, if your proposal or application doesn't meet certain terms, likely, your request will be rejected automatically. 

Moreover, if you’ve just launched your small business in either two years or less, definitely you won’t be awarded a grant. That means a loan should be your best alternative. 

The main advantage of a business loan is that you can easily secure the funds you need to meet your demands. Unlike the grant, it’s a fixed amount that may not meet your business’s needs. It also gives business owners favorable requirements like lower minimum time or lower minimum monthly income in business.

Where do I find government grants for small businesses?

·         SBA.gov is the right place to seek grants.  It has a government website that’s filled with a wide series of financial and grant schemes.

·         Grants.gov is the leading database for federal grants. It allows you to search grants by category, type, agency, and eligibility.  Though searching across its database may seem tedious, likely you’ll land on a grant opportunity that suits your company.

·         Economic Development Administration gives needy societies grants to establish new jobs and fuel commercial growth.

·         Small Business Development Centers focus on providing local resources which can pivot your business status.

·         In midst of the pandemic, many governments globally have provided numerous resources to help small businesses cope with the economic contraction that’s affecting the globe at large.

·         Economic Injury Disaster Loans are offered by the SBA. They act as capital for small businesses, especially those paying employees, expenses, and rent.

Above all, organizations such as Verizon have customized funds to offer grants to small businesses.

What are the types of government grants?     

Government grants are specifically meant for funding a small business.  There are different types of government grants: Challenge.gov, the U.S. Economic Development Administration, the U.S. Small Business Administration, and Grants.gov. However, small businesses should be vigilant when seeking government grants. So, if these are the type of government grants you’ve been seeking, consider yourself lucky.

Small Business Technology and Small Business Innovation Research

The Small Business Technology and Small Business Innovation Research are outstanding programs for small businesses based on science and technology innovations.  These programs are also incentives and competitive organizations to market their services across the competitive market arena.

They also provide vital resources for small businesses to operate with nonprofit cooperation. So, if you want to be awarded these grants, you must be operating a small business in the United States with over 50% U.S. citizen owned. It should also have less than 500 employees.

 State Trade Expansion Program

Why does the government encourage entrepreneurship? Why are government grants given? Why does government support entrepreneurship? The answer, governments want to boost the economic level as well creating job opportunities. 

Entrepreneurs looking for grant funding at the federal level should consider this option. Its awards are given to the government business to pivot sales and exports. You can find this grant in your state to access the State Trade Expansion Program resources as well boosting your global customer.

The company’s customer care helps entrepreneurs to learn how to develop and design products, export and engage in foreign trade missions.

Environmental Protection Agency grants

These grants help numerous businesses escalate from small nonprofits to large state governments by providing much money in grants and other agreements. Its main work is to help in the development of the environment and human health. 

Additionally, its homepage displays important guidance such as grant opportunities, rules and policies, applications, and training.

           FAQs for Governments Grants for small businesses  

How do I know if Your Small Business is Eligible for a Government Grant?  

Applying for a small business grant can be a tiresome task, so it's crucial to apply for the grants you’re sure of. Just select grants that suit your needs and check their deadlines and details.

Once you get the grant that suits you, take one step further and ensure your objective aligns with it. The best way to get government grants for small businesses is to know the issue you’re targeting to solve using the grant.

You should also cross-check if solving that issue is part of the objective of the government entity offering the funds. Or, you can research the issue that’s been solved by other firms and the cash invested to learn your eligibility in securing the grant.  After finding grants that incorporate your firm objective, verify if they meet the grantor’s terms.