The struggle for Small Business Grants Applications is on the rise as days go by. According to statistics from 879 grant-makers in 2004, only 11% of these makers fund 50% of the 1000 businesses that apply for grants.
So the rest of these grant applications go down the drain.
Although commitment to research and a strong desire to improve the lives of others seem to be on the checklist of the United States Government when considering small business grants applications.
However, it goes without saying that grants are generally difficult to win altogether.
But anyway, considering the vast number of grants out there, a little more commitment and consistency in your search could get one.
Below are 7 Small Business Grants you could apply for in 2023.
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Small Business Technology Transfer (STTR)
STTR is a program funded by the US Government. It fosters collaboration between small businesses and research institutions.
Furthermore, this small business grant primarily focuses on technology. It focuses on trying to benefit and reaching out to the community.
Read Also: 5 Big Grants Available For Small Businesses
How to Apply for this grant
To apply for STTR, submit a complete business plan, an executive summary, estimated costs, and technical proposal to the STTR website.
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Small Business Innovation Research (SBIR)
Similar to the STTR, this small business grant is research, development, and technology-based. Furthermore, the United States Small Business Administration Office of Technology runs this program.
Also, the program tries to create a connection between the federal government and small businesses to come up with technology-based innovations.
How to Apply
To apply for STTR, submit a complete business plan, an executive summary, estimated costs, and technical proposal to the SBIR website.
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Street Shares Foundation
Street Shares Foundation is an organization that funds Veteran-owned small businesses monthly.
In other words, Veterans are major beneficiaries of this small business grant. Amounts range from $15,000, $6,000 to $4,000 for first, second, and third places, respectively.
Eligibility
- Applicants should be 21 years of age and above.
- Applicants must be a Veteran or an active member of the US Armed Forces.
How to Apply for this grant
Submit a 2-minute video describing your business, product, and how the grant will benefit your business to the Street Shares Foundation website.
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Visa
The Everywhere Initiative was introduced in 2008 by Visa, challenging small businesses to meet their tech needs. The Initiative, which in most cases involves questions, aims at developing more efficient payment systems.
More also, it focuses on strengthening relationships between customers and merchants by tackling financial management with the help of technology.
Conditions
Winning Small Business Owners work with Visa to develop efficient business-conducting patterns and new technologies.
How to Apply
Applications are sent to Visa Official Website
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Minority Business Development Agency (MBDA)
MBDA is a division of the United States Department of Commerce. It receives small business grant applications from businesses owned by ethnic minorities.
Furthermore, it also links Small business Owners to other Federal government-related grants.
However, the grant takes over six (6) months to process and maybe longer in some cases. Also, the grant amount varies depending on the kind of business.
Eligibility
- Businesses must be registered under the Minority Business Development Agency.
How to Apply for this grant
Applications are sent via MBDA’s Official Website
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Idea Café
Idea Café is an organization that funds small businesses with grants worth $1,000 yearly.
Furthermore, a handful of the finalists receive an additional $1,500 for advertising asides the free publicity from votes.
How to Apply
Applications are sent to www.businessownersideacafe.com, where it is reviewed by editors. After that, the organization drop ineligible applicants.
Finally, public votes decide the winner.
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FedEx
FedEx runs an annual contest to award ten small business owners with business services and a grant. The contest requires applicants to provide brief answers to a series of questions.
However, the 2018 contest included a pitch explaining how your business would benefit from the grant. Plus a voting period which qualifies you for the second round.
Finally, the first place wins $25,000 grant money and $7,500 FedEx print and business services. Second place wins $15,000 and $5,000 in terms of print and business services. The third-place comprises of eight winners who receive $7,500 grant money and $1,000 in terms of print and business service.
How to Apply for this grant
Submit application entries to FedEx Small Business Grant Application Website.
How Do I Ask for a Grant?
Five Steps for Requesting a Grant:
- Identify potential grant recipients that match.
- Browse the websites of your prospective grantors on occasion.
- Contact the appropriate person to confirm your eligibility.
- Create a grant proposal or letter of intent.
- Exactly follow the grantor’s application instructions.
What Are 4 Types of Grants?
- Competition-based Grants. Competitive grants are those for which a nonprofit presents an application that is reviewed by a panel of experts.
- Continuation Grants.
- Pass-through Grants.
- Formula Grants.
Why Do Grants Get Denied?
Most proposals are turned down for a surprising small number of simple and well-known reasons: The submission deadline wasn’t met. The topic of the proposal did not fit with the funding agency to which it was sent. Guidelines for the length, format, and/or content of the proposal were not exactly followed.
How Do I Find My Local Grants?
Use the official, free website Grants.gov to look for grants or apply for them. Grant information or application forms on commercial sites may cost money. Information from more than 1,000 government grant programs is gathered on Grants.gov. Its purpose is to help states and organizations find and apply for grants.
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