If you are a business owner or want to start your own business, finding funding to cover start-up costs and operational expenses can feel overwhelming. Grants aren't easily acquired. You might also consider alternatives to grants, such as finding an angel investor or an individual to provide seed money to back your company if you cannot get a traditional loan.
- Before you begin finding information about applying for business grants, understand that the majority of grant money available goes toward non-profit organizations. Because of this restriction, the business grants that do exist are highly competitive.
- Start-up grants are hard to come by, but a good place to begin is with your local Small Business Administration office. Many of the offices have a list of state grants available that can help with expenses like staffing or business growth. Many states provide funding for small businesses because it fosters economic development within the area.
- If your business is in a rural area, the USDA provides grants and half-grant/half-loan options to small businesses. The USDA website provides links to each state office with rural business opportunity grants and regular updates on the purpose of the funding area.
- Grants.gov is a leading resource in grants for non-profit and for-profit entities. If you are looking for a grant opportunity for a business that is focused on areas such as health, renewable energy and research, grants.gov is one free source for searching for grant opportunities.
- The federal government provides a workforce innovation in regional development grant opportunity to small businesses throughout the U.S. These grants are awarded to small businesses through the Department of Labor to prepare citizens to work.
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