Small Business GrantsLindsay Chambers
Federal and state agencies, plus some privately owned companies, offer grants to help entrepreneurs cover various costs associated with starting and running a business and those who need relief due to the COVID-19 pandemic.
While researching and applying takes some legwork, the reward of securing extra cash for your small business can be worth the effort. To start, here’s what you need to know about who provides small business grants.
Some federal small business grants have rigorous requirements, but if you qualify, they’re among the most reliable funding sources for helping you scale up your business. Start your search at grants.gov, a database of small business grants available from various federal agencies. You’ll see thousands of opportunities for companies of all shapes and sizes.
The U.S. Small Business Administration also provides various loan and micro-loan options to grow your business. SBA loans typically have favorable terms and low interest rates, but can have challenging criteria to meet.
State and Regional Level
Small business development centers, often located on college campuses or within state and local economic development offices, can help you find small business grants and other financing opportunities. They are also an excellent place to get support, advice, training and technical assistance.
The Arizona Commerce Authority manages several state-specific programs, each of which has separate eligibility criteria and application processes. Whether you need tax relief, plan to expand into international markets or are seeking angel investments, these growth opportunities can benefit you.
Other Small Business Grants
If your small business isn’t eligible for federal, state or regional government grants, consider these alternative funding opportunities.
- National Association for the Self-Employed: NASE members can apply for monthly grants worth up to $4,000 and an annual $3,000 college scholarship for their dependents.
- Patagonia Corporate Grants Program: Environmentally focused nonprofit organizations can apply to this program. The retailer specifically looks for innovative projects with specific, actionable plans.
- Amber Grant for Women: WomensNet offers two $10,000 monthly Amber Grants and awards an additional $25,000 year-end grant to top women entrepreneurs.
- U.S. Chamber of Commerce: The top prize for the annual Dream Big Awards is a $25,000 small business grant. The competition also provides businesses in various categories with associated prizes. Though you must have an existing business to qualify, you only need one year of entrepreneurial experience.
- Hello Alice: This grant platform partners with companies such as Progressive and DoorDash to offer startup and small business grants. You can create an account to receive notifications about new opportunities and apply to the ones that are relevant to your goals.
Find a Clear Path to Your Business Goals
Starting a small business can be challenging, especially when money is tight and you’re not sure how to make your entrepreneurial dreams come true. At Clear View Business Solutions, our knowledgeable advisory consultants partner with solopreneurs, freelancers and self-employed people to help them find the best ways to finance their vision. To learn more about our small business bookkeeping, tax and financial services in Tucson, reach out to us today.