Indiana Small Business Grants: 17+ Best Funding Options for Any Business

Indiana small business grants for women, startups and small businesses
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Small business enterprises across the globe, including Indiana, are currently facing difficult times. The only help in view comes in form of grants, loans, or a competitive advantage in the challenging market environment. While Indiana small business grants may be limited to an extent, this post will focus on options for startups in Indiana, women, and any business, in general, that will be accessible by not just Indianaians but the whole country. But considering the fact that the government hardly dishes out help in form of grants, here’s a breakdown to help you figure out what’s out there.

Financial Assistance From the Federal Government

The current COVID-19 pandemic has had a negative effect on businesses of all sizes. Tons of businesses have had to reconsider their business strategy as startups. However, the new coronavirus stimulus bill, which provides $900 billion for companies solves this problem to a large extent. The bill literally provides tax deductions, scholarships, and grants as well as other forms of assistance. But how do you as an individual or small Indiana business access this grant?

Grants From the Government— Including Indiana Small Business Enterprises

Grants.gov is a good place to start looking for federal grants. This official website is the most extensive archive of funds that the government intends to distribute. There are thousands of Indiana small business grants available and benefits for businesses of all sizes.

However, keep in mind that not all funding from the federal government reaches small businesses directly. Some grants go to state and municipal governments, nonprofit groups, and higher education institutions. These organizations either disperse the funds or use them to provide local logistical or educational assistance.

So you can check with the state and local agencies, as well as the services on the list below to help you in your search for Indiana small business grants for women and startups alike.

The assistance available to you at Grants.gov can vary based on peculiar conditions, as shown by the following sample of grants.

Program for Small Business Innovation Research (SBIR)

Small businesses may apply for SBIR grants to invest in federal research and development with the possibility of commercialization. It’s a platform that assists businesses in achieving scientific achievement and technical advancement.

But, to be eligible for SBIR grants, you must run a for-profit small business in any location across the country including Indiana. It’s the basis to meet other criteria.

Technology Transfer Program for Small Businesses (STTR)

STTR, like SBIR, focuses on financing science in the R&D field. The STTR, on the other hand, differs in that it requires a partnership between a small business and a research organization. To be eligible for STTR grants, you must also run a for-profit business and meet other criteria.

Grants for rural businesses are available via the USDA’s Rural Business Enterprise Grant Program

The USDA Rural Business Enterprise Grant Program provides technical support and supervision to small businesses in rural communities like Indiana. These businesses, however, would need to maintain a staff strength of fewer than 50 employees and a gross income of $1 million. For the most part, rural public bodies, cities, state governments, nonprofits, higher education institutions, rural small businesses, and federally designated tribes including Indiana, benefit from the grants annually.

Minority Business Development Agency of the United States Department of Commerce (MBDA)

Throughout the year, targeted grants and loans to help minority-owned businesses including women in Indiana and across the globe are available. At MBDA.gov, minority-owned businesses learn about nearby MBDA Business Centers.

State Trade Expansion Program of the United States Small Business Administration (STEP)

This scheme, which distributes government funding by state governments, is designed to help small businesses who want to sell their products. Small businesses that follow the state’s requirements can use the funds to attend international trade missions and events, gain access to new markets, build websites, and create international marketing goods or promotions.

Conversely, accepting free money from the government comes with a lot of paperwork, as you would imagine. Grant applications can be time-intensive and complex. As a result, you should double-check your eligibility before applying.

Furthermore, there are regular monitoring and auditing provisions in addition to the regulatory and institutional requirements. The exact description can be found at govinfo.gov.

Government contract assistance

Every year, the federal government invests billions of dollars into goods and services and uses a competitive bidding process to spend a large portion of the money. Conversely, there are programs in place that help certain small businesses in cities in Indiana to navigate the process, giving them a greater opportunity to qualify for federal funds.

Federal Contracting Program for Women-Owned Small Businesses in Indiana and across the country (WOSB)

The federal government aims to offer women-owned small businesses at least 5% of federal contracting dollars every year. The Office of Women’s Business Ownership, an SBA initiative, assists women entrepreneurs by providing access to business plans, advice, government contracts, and capital. Its mission is to provide all women in the business world with equal opportunities.

8(a) Program for Business Development

The aim of this initiative is to help small businesses that are run by people who are socially and economically vulnerable. This is achievable by narrowing procurement for such government contracts to 8(a) enterprise growth program participants. However, to be eligible companies must be a member of an 8(a) body.

HUBZone

HUBZone is a program for small businesses. This initiative helps businesses in undeserving industrial districts compete for government contracts by making them more successful. Startups or small businesses from different locations such as Indiana who enter the HUBZone scheme are not only eligible for grants, they are also eligible to bid for set-aside contracts as well as gain exclusive treatment on other contracts, such as a 10% price advantage in free contract competitions.

Program for assisting in the sale of natural resources

The federal government exports vast quantities of natural capital and excess land in addition to spending billions of dollars on goods and services. The Small Business Administration’s Natural Resource Sales Assistance Program sets out a portion of these items for small businesses to bid on. Furthermore, they also split waste goods into smaller parcels, making them more accessible to small businesses.

Small businesses will also get training on government sales and leases through the scheme.

Grants for small businesses in particular industries

Both nonprofit and private organizations provide grants and other forms of assistance to small businesses. However, some of these services go to a particular population or industry profile of entrepreneurs. This means that they will also have a simpler application process.

Grants for Women-Owned Businesses

Image Credit: Pixabay (Indiana Small business grants for women and startups)
  1. In honor of Eileen Fisher, the EFEJ Grants range from $10,000 to $40,000 and are awarded to 501(c) (3) charities or other nonprofits with a fiscal supporter. Grants go to small businesses in Indiana and across the country that has direct programs to solve environmental challenges. Also, this includes women’s empowerment.
  2. Amber Grant Foundation is a non-profit organization in honor of Amber Grant. The Foundation is run by WomensNet in 1998 with the basic aim of assisting female entrepreneurs. So, every month, the foundation disburses a $10,000 grant to any woman entrepreneur with a convincing story, as well as an annual $25,000 grant in December.
  3. Tory Burch Fellows is a program run by Tory Burch. The Tory Burch Fellows Program is available to for-profit businesses during the early stages of service in every field. Funds are awarded annually to a woman-identifying entrepreneur. Furthermore, the fellowship consists of a one-year degree that includes virtual education, business mentoring, and a $5,000 stipend. The specifics of this year’s awards have yet to be revealed.
  4. Small Business Grant from FedEx. The FedEx Small Business Grant Contest, which took place in 2020, gave over $250,000 to 12 small businesses to help them expand and scale their businesses. Check out their official website for more details.
  5. Growth Grants from the National Association for the Self-Employed (NASE). The NASE has awarded over $1,000,000 in grants to its members, according to its website. It offers up to $4,000 in development grants to help with recruitment, marketing, and other expenses. Before you may apply, you must have been a member for 90 days.

Indiana Small Business Grant FAQs

How can I get grant for business?

Start your search for a federal grant on the Grants.gov website. This government website provides the most comprehensive database of upcoming government grants. There are tens of thousands of grant possibilities available to businesses of all types.

What is a small business grant?

A grant is money that your firm receives from the government, a corporation, or a philanthropist. Grants are effectively free money; they do not require repayment. Their objective is to assist small enterprises.

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