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- Georgia small Business Grants for Minorities
- #1. Grants. Gov
- #2. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (SBTT) Programs
- #3. USDA Rural Business Development Grants
- #4. USDA Water and Waste Disposal Loan and Grant Program
- #5. Minority Business Development Agency (MBDA)
- #6. SBA 8(a) Business Development Program
- #7. The National Association for the Self-Employed (NASE) Growth Grants Program
- #8. Asian Women Giving Circle (AWGC) Grants
- #9. First Nations Development Institute Grants
- #10. Operation HOPE Small Business Development Program
- #11. National Black MBA Association (NBMBAA) Scale-Up Pitch Challenge
- #12. FedEx Small Business Grant Contest
- Government small business grants in Georgia
- Small Business Stimulus Grants in Georgia
- Georgia Small Business Grants FAQs
- Is SBA giving free money?
- Is the SBA grant still available?
- How do I start a business in Georgia with no money?
Setting up a small business sounds like a good idea, although it’s not an easy task. The federal government doesn’t give grants for starting and expanding a business. However, the Georgia State government does give grants to business owners and minorities to start and grow their businesses. The recipients of these grants do not have to repay the government. This, therefore, makes sourcing for funds for your small business easy. Stimulus grants have also been made available to small business owners in Georgia due to the coronavirus outbreak.
Georgia small Business Grants for Minorities
Minorities usually face a lot of challenges when they try to set up and manage their businesses. Research has it that minority business owners receive less financing compared to their white counterparts. Therefore, going for small business grants is a sure option to boost their businesses. The application process is not an easy one though, as small business grants can be quite competitive. However, the payoff is worth it as you don’t have to repay the grant. We have outlined 12 major small business grants available for minorities in Georgia.
#1. Grants. Gov
Although it doesn’t offer small business grants exclusively, Grants.gov is a great platform for finding federal grant opportunities specific to your field or choice of business. It has information on every grant program available at any point in time. It also provides guides on how to qualify for a grant, as well as the deadlines for each grant. A good number of federal agencies offer grants, including the U.S Agency for International Development (USAID), Department of Defense, and Department of Education.
#2. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (SBTT) Programs
These programs provide grants for small businesses that are engaged in research and development and are working on commercializing innovative biomedical technologies. About 11 government agencies including the National Science Foundation contribute part of their development funds to these programs.
These programs are highly competitive, and they promote technological innovation. To qualify for their grant, your business should have not more than 500 employees, including the principal researcher.
#3. USDA Rural Business Development Grants
This program helps minorities in rural areas to establish their small businesses. The program provides minorities in Georgia with small business grants between $10,000 and $500,000. Those eligible for this program include rural cooperatives, non-profit organizations, etc. To qualify for this program, your business must be situated in a rural area, and the project you are applying for must benefit the community. Furthermore, your business should have no more than 50 employees, and a revenue of less than a million dollars.
#4. USDA Water and Waste Disposal Loan and Grant Program
This program provides business loans as well as grants. Hence, the name. It helps qualified business owners that could obtain business financing. Your Business must be in line with water or waste disposal before you can qualify f this program. Also, It should b located in a rural area or town with a population of not more than 10000. Therefore, the most eligible parties for this program include private for-profit organizations and federally recognized tribes.
#5. Minority Business Development Agency (MBDA)
This Agency provides grants for minorities to operate their small businesses. They also provide other services like business consulting, and financial assistance for your business. In addition to that, the agency runs grant competition programs, all aimed at helping minority business owners.
#6. SBA 8(a) Business Development Program
Through this program, Business owners who are disadvantaged socially or economically are eligible to receive financial assistance. The program is not a grant program in itself, but it provides business owners with business development assistance, counseling, and technical guidance. For a business to qualify, the owner must be one who has gone through cultural and ethnic bias and as a result became economically disadvantaged.
#7. The National Association for the Self-Employed (NASE) Growth Grants Program
This nonprofit association gives minorities in Georgia small business grants of about $4,000 each. These grants are designed to help businesses grow, but about it is only exclusive to NASE members. A NASE Growth Grant can be used for different business purposes such as purchasing equipment, hiring employees, or creating marketing materials. These grants are offered on a monthly basis, while applications are reviewed on a quarterly basis. Apart from being a member to qualify, you also have to give a detailed explanation of how you intend to use the funds to promote your business.
#8. Asian Women Giving Circle (AWGC) Grants
The AWGC is a nonprofit organization that provides grants for minority women whose businesses feature art and culture. The aim is to promote social transformation and also raise awareness and action concerning issues that affect Asian American women and girls. They also try to highlight and promote women’s central role in these projects. The organization awards about five to eight project grants in each cycle (usually annually) in amounts up to $15,000.
#9. First Nations Development Institute Grants
First Nations is a nonprofit organization that runs a national grantmaking program. As of the end of the year 2020, First Nations has provided 2,150 grants totaling more than $43 million to Native American projects and organizations in about 40 states. The small business grants that First Nations offers individual minorities can vary, however, their program strives to provide technical and financial resources to native non-profits and tribes. You can always visit their website to check for current grant applications.
#10. Operation HOPE Small Business Development Program
This program is designed to help small business owners in underserved communities, most often minority communities. Being a nonprofit organization, it offers an eight-week entrepreneurship training program to provide minority business owners with business training, personal development, access to professional services, and financial counseling. It also helps business owners create and maintain a business plan, as well as gain access to funding and other business resources.
#11. National Black MBA Association (NBMBAA) Scale-Up Pitch Challenge
This challenge is a grant competition that encourages business owners to create scalable startup ideas. The NBMBAA connects startups with early-stage investors and venture capitalists and grants them opportunities to present their business idea. This competition is held annually, with the winning business owner or team receiving a grant of $50,000, second place receives $10,000, while third place receives $7,500. Also, a People’s Choice Award is given for $1,000.
#12. FedEx Small Business Grant Contest
This is an annual nationwide competition that awards grants to around 10 different minority business owners.These grants range from $15,000 to $50,000, and also $1,000 to $7,500 in FedEx print services. Through this contest, more than $375,000 have been awarded in grants to small entrepreneurs by FedEx. To qualify, your business should be operating for about 6 months.
Having used these grants successfully, you will find that it’s actually easy to qualify for business loans and other debt-based financial assistance.
Government small business grants in Georgia
If you’re having trouble qualifying for a business loan, or you’re looking for additional capital to boost your business, you can apply for government grants. It is usually free to apply for small business grants in Georgia. as you do not have to pay the government back for the grant. However, the process of applying for a government grant is not an easy one. You can apply for grants through contact Georgia financial aid agencies. The grants that the U.S. government gives to small business owners in Georgia are as follows:
#1. Early Stage Innovation Fund
The SBA created a $1 billion Early Stage Innovation Fund to help small business owners grow their businesses and create jobs. They set to achieve this by providing matching capital to private investment companies. This will help create easy access to capital.
#2. Georgia’s Regional Commissions
Georgia’s Regional Commissions offer loan assistance to small businesses in Georgia. These include Revolving loan funds, rural loan funds, and USDA Business & Industry loans.
#3. Appalachian Regional Commission
This is a federal-state partnership that works with the people of Appalachia to create opportunities for self-sustaining economic development and improved quality of life.
#4. Export-Import Bank of the United States
Export-Import Bank of the United States and the U.S. Small Business Administration (SBA) provides export loan guarantee programs for agriculture export.
#5. Small Business Innovation Research (SBIR) and Small Business Technology Transfer
These programs are highly competitive programs that encourage small businesses to engage in creative research. This research is aimed at commercializing biomedical technologies.
Small Business Stimulus Grants in Georgia
In a bid to check the issue of hunger and unemployment due to the coronavirus pandemic, the government provided stimulus grants to small business owners in Georgia to help boost their businesses. The grants are also available for those intending to start small businesses. These grants are known as COVID-19 small business stimulus grants.
Apart from the coronavirus stimulus grants, small business owners in Georgia can also apply for an Economic Injury Disaster Loan(EIDL) through the SBA. by applying for this loan, you are qualified to receive an emergency cash advance of about $10000. This loan can be turned into a grant if you spend it on financial obligations like maintaining payroll, increased costs, mortgage or lease payments, etc.
To qualify for this fund, your business must have previously received an advance for less than $10000. You can also qualify if you have applied initially for an EIDL advance but were not able to get one. If your business is qualified, you will receive an email about an SBA grant. To avoid scam, note that email address should end in @aba.gov.
Applying for government grants in Georgia is always free, although the process of application can be quite difficult. However, the payoff is that you do not have to pay back the grant, making it a good option for you if find it difficult to qualify for business loans. Small business grants, as well as stimulus grants, are also available for minorities in Georgia.
Georgia Small Business Grants FAQs
Is SBA giving free money?
Independent contractors, small enterprises, gig workers, and freelancers are qualified to receive a government grant of up to $10,000 under the CARES Act, which was passed on March 27, 2020. You are not compelled to pay back the grants, which the SBA occasionally refers to as “advances,” to the government.
Is the SBA grant still available?
New requests for reevaluation or Advance applications are no longer being accepted by SBA. Applications and reevaluations that were submitted before the deadlines are still being processed. The SBA still provides traditional SBA loans as well as additional funding choices for small businesses.
How do I start a business in Georgia with no money?
Georgia Business Startup Guide Without Money
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