In Florida, there are often challenges in running or starting up a new business especially when it has to do with securing funds. Sometimes people source for funds through loans but I think opting for a grant is the best bet to get started. Interestingly, grants are better than loans because they are free non-refundable money rendered by government or private agencies. Let me remind you that it’s never all about getting the money but using it for a beneficial purpose. However, there are tons of grants available, grab an opportunity and apply for one. In this article, you will find more about small business grants for veterans in Florida, orange county, lake county, as well as detailed tips to applying and qualifying for grants.
Florida Business Grants
It always seems intimidating generating funds to starting a new business or grow an existing business. Fortunately for the Floridians, the State of Florida has a series of grant programs available for small business owners to help start and grow businesses. They provides thousands of dollars per anum to help stimulate economic growth in the state of florida.
Moreover, we all know that starting and managing a small business in Florida is not an easy task. This is because over $223,450,000 are paid to employee salaries/payroll alone in Florida. Similarily, more than 110,371 and yearly, businesses run bankruptcy. Therefore, the federal government does not provide grants for starting and growing a business publicly.
Luckily for you, grant money does not need payback. Unlike a loan where you have to pay back within a stipulated time. Moreover, below are some of the government and nongovernmental grants available for small business owners in Florida. I shall only give you brief information about them. Please kindly click on the links provided to visit their official website for more information.
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I know you cannot just apply for grants haphazardly. Therefore it is important you understand all the hints of seeking both state and federal grants. Thus, before relying on them as means of business funding there are so many things to consider. This will be explained below.
#1. Grants.gov
Grants.gov is the first place to look for grants. It is a database of thousands of grants, With the tons of filters on this site you can select grants you only qualify for.
#2. Small Business Administration
The Small Business Administration (SBA) is a federal agency in the United States that serves small businesses. They provide financial assistance to small businesses that are unable to obtain funds from normal lending sources. Although they are known for providing loans. They also give out loans for small businesses.
#3. State Business Incentives Database
This is another database business grant program that the Council of State Government runs. The database is seemly the best way to get a state grant. All you’ve got to do is to filter the state you live in. Then, you will be presented with a compressive list of tax credits, loans, and grant offers that you may qualify for.
#4. National Institute of Standards and Technology Grants (NIST)
This kind of grants relates to business that deals with science, technology, or engineering field. This is a great niche field that if you qualify for, you have a great chance of earning a grant.
Other Grants Include:
- Florida High Tech Corridor Grant
- Enterprise Florida Grants
- Prospera Small Business Grants
- USDA Rural Business Development Grants
- Amber Grant
- National Association for the Self-Employed Grant
- Federal Minority Business Grants
- FedEx Small Business Grant Contest
- Small Business Research Grants
Orange County Florida Small Business Grants
This Small Business grant program is created to provide relief to small businesses affected by the COVID-19 crisis in orange county. They Use funds from the Community Development Block Grant (CDBG) as well as CARES Act funds provided by Orange County Supervisor Don Wagner. The program offers grants to assist small businesses in the City of Orange county florida. The Small Business Assistance Program is currently offering one grant Employee Retention Grant of about $25,000. However, due to lack of funding, we are not accepting applications for the Business Relief Grant now
Lake County Florida small Business Grants
In Florida, about $11 million has been allocated to funds/grants the Lake County Small Business. These are covid 19 assistance/grants programs to assist small businesses in Lake County that have been negatively impacted by the pandemic. Therefore small business owners in Florida lake county will be able to apply online for up to $38,000. This will help to cover up to four months of occupancy costs such as rent, utilities as well as other expenses incurred due to COVID-19. The Florida Lake County Small Business Assistance/ grants COVID-19 Grant Program will be administered by Lake County Partners with final grant approval and dispersing of funds by Lake County.
However, In Florida, Small businesses in Lake County that meet the following criteria are eligible to apply for the grant program:
•It must be a profit, incorporated business.
•Business must be prior to February 15, 2020
•The business should earn at least not less than $2.3 million in its annual revenue
• Also preference will be given to businesses that have not received Federal Assistance
Florida small business grants for veterans
For veterans who are transitioning back into civilian life in Florida, this grant opportunity is for you if you want to start a business. Moreover, you need not be told what and how much it takes to cover the startup costs. There are many loans available in Florida, but just veteran-owned business grants can get you started. This is the funding you need without incurring debt that may sometimes be hard to pay back.
However, in Florida not all veteran small business grants have the same eligibility requirements, Therefore, you must devote your time to research for eligibility requirements before applying for a grant. Importantly, some veteran business grant programs in Florida are only open to veterans with honorable discharges, while others are open to veteran family members, as well new entrepreneurs. Below are some florida small business grants for veterans.
Read Also: GRANTS FOR BLACK BUSINESS OWNERS: 13+Best Options Available in 2022 (updated)
#1. Hivers and Strivers
Hivers and Strivers is an angel investment group that provides startup funding to companies. They are founded by graduates of the U.S. Military Academies. Generally, Hivers and Strivers invest about $235,000 in a single funding round. Wish to apply for Hivers and Strivers funding, fill out an online application form on their official website.
#2. Service-Disabled Veteran-Owned Small Business Program
Undoubtedly, the federal government aims to set aside about 3-5% of its contracting budget for service-disabled veteran-owned small businesses yearly. To qualify for this program, your business must attain the underlisted:
- Adhere to the SBA’s definition of a small business
- Should at least be at 51% owned and controlled by one or more service-disabled veterans
- Must have one or more service-disabled veterans
- All eligible veterans must have a service-connected disability
If your business meets these requirements, then you can represent your business as a service-disabled veteran-owned business.
#3. Warrior Rising Small Business Grants
Warrior Rising is a nonprofit organization that supports aspiring veteran business owners by providing workshops, training, and grants to cover the expenses made in the business startup.
However, to become a member of Warrior Rising, you have to partake in a phone interview and speak to staff members about your background. Then, you will also need to complete a virtual course. Hence once this process is completed, Warrior Rising will then offer you mentorship and assistance with grant funding opportunities.
#4. Veteran Readiness and Employment
Through this program, service-disabled veterans who are unable to work in a traditional employment environment are eligible to receive training as well as grant funding to start their businesses or job training.
An application form will need to be filled and return same. Once their applications are submitted, they will be reviewed to determine if they have met the program’s eligibility requirements. Therefore, If requirements are met, they will be able to participate in an orientation session.
Tips to applying and qualifying for Florida small business grants
In applying for any grant program, here are several tips you should take into consideration before qualifying for Florida small business grants. Meanwhile, Writing a grant proposal is an intensive procedure. Thus you need to gather a lot of information to complete the process.
- Put down pieces of information about your organization
- Indicate a problem and solution for solving the problem
- State the impact your organization will create as a result of the funding
- Include a detailed budget and how funds will be allocated within the project plan
- Attach additional documentation requested by the funder such as tax details, certifications, or personnel qualifications.
- Make a schedule
- Write a business plan first
- See what companies have been funded in the past
- Get help from local business organizations.
- Consider a professional help
- Don’t wait until the last minute before submitting your application
- Be time conscious. Late applications might be trashed off.
- Use a template for all grant applications
- Apply for every grant
Summary
In a nutshell, it is appealing to find business grant opportunities that you don’t need to repay. Florida has many small business grants available for new and existing startups. Taking advantage of small business grants and available tips to applying for these florida business grants is an important criterion that will help you qualify. Hence most of the grants programs provided above such as the Orange County Florida Small Business Grants are currently not available . You can respectively visit their official website for more details while we keep you posted with our available updates.
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Disclaimer!
Moreover, pieces of information contained in this article are for educational and information purposes. Relying upon this information is at your own risk. Therefore If you’re feeling intimidated by the application methods and grants programs provided, similarly, you can also invite an expert to help you out. Grant-writing classes, conferences, and workshops may also be of importance. Another option might be to hire an experienced grant writer to develop your tips for applying and qualifying for a business grant proposal.
