TECHNOWAMA - Business and Small Business Blogs

Small Business Grants Available in 2022 | Free Money For Your Business

For thoseof you who have never applied for a smallbusiness grant before or are not familiar withit, small business grants are funds given to asmall business by an organization for a specificpurpose, this is key there has to be a purpose.As a rule, grants are available to small businessowners during the startup phase, expansionor for research and development. You have tomake payments on your small business loan oron your business credit card, but small businessgrants do not need to be repaid which, of course,makes them an extremely attractive option.So, with that said a small business grant is areally good way to get extra cash inflow intoyour business. However, I want you to knowthat most grants do have restrictions; meaning,the money has to be spent in a specific wayas outlined by the grant provider and that willbe different based on the grant that you receive.
Normally, this wouldn’t really be an issue becauseif you apply and receive a grant you have to meetcertain criteria and of course at that pointthey make you aware of what the rules are andwhat you have to do.

Now let’s start byreviewing corporate small business grantsthen we’ll move on to federal such as thosesponsored by the Small Business Administration.Large companies, like Fedex and Visa, willoften have a contest or a pitch competition.The winners receive a grant which usually canbe thousands or tens of thousands of dollars.In some cases those who have actually participatedwould receive a prize as well and get some type ofa reward such as free advertising andpublicity which is always a big plus.
So here are a couple of ideas for you to startyour research but please keep in mind that thislist is not all inclusive and there are many moreprograms depending on the industry that you’reinterested in and the industry that you operatein as a business. So if you’re a member of theNational Association of the Self-Employed youcan apply for their small business grants.One grant is awarded per month up to four thousanddollars to get started.

All you need to dois log in, get your account set up and followthese steps to get familiar with the grant itself,its requirements and the rules. Another reallygood option is Patagonia corporate grant program.
The program gives between ten thousand dollars andtwenty thousand dollars, the last time I checked,of funding to non-for-profit organizations thataim to preserve and protect the environmentand of course this goes hand in hand with theentire purpose of the company itself, so I thinkthat goes without saying and so that kind of helpsthem with their mission and helps them encourageand motivate those who pursue the same missionas their corporate company.

I think this is agreat way to help the environment and also to getin touch and to network with one of the biggestplayers in that industry. So definitely tryto explore those two options as well as otheroptions as i mentioned that are available to youdepending on what industry your business is in.Now let’s talk about federal small businessgrants. You’re probably familiar with some of themalready.
Here on my channel we’ve talked a lotabout EIDL grants so to be completely honestwith you, I decided not to include EIDLhere in this video because it’s alreadybeen covered extensively and all of you areprobably well aware of these specifics. I havean entire playlist here on my channel dedicatedto EIDL. A key fact to keep in mind is, as a rule,federal grants don’t cover the cost of starting upa business or operational expenses so if that issomething that you need help with a federal grantis probably not a good option for you. Instead,they place a focus on research and development.The first grant that comes to mind of courseis Shuttered Venue Operators grant.

This is thegrant program by the Small Business Administrationso it is directly funded by federal funds.The grant provides emergency financial helpto eligible shuttered venue affected bythe pandemic, as we all know. Those who areeligible are venue operators or promotersthat could be live performance operators,theater producers, also museums, zoos and movieproducers. There might be other ones that arekind of within the same category so if that issomething you’re interested in take a look atthe SBA website and I will post some links in thedescription below so it’s easier for you to locatethe grants that I’m describing here in this video.This specific grant itself is equal to 45% of yourearned revenue, up to a maximum of $10 milliondollars.

In addition to this, there are twoprograms that encourage research and development- Small Business Innovation Research Programand Small Business Technology Transfer Program.To qualify you must operate a for-profit businesswith less than 500 employees as well as meetadditional requirements. These three programs ijust mentioned stand out to me the most just basedon the dollar value of the grants they offer.However, know that there are so many more smallerprograms that you should consider exploring.The best sources to start your research are acouple of websites sponsored by the governmentthey are grants.
gov, then there is another onecalled challenge.gov, and there is a third sidecalled grant watch so those three websites wouldbe a great start a great first step to start yourresearch and see what you may qualify for. I willlink the websites below so it’s easier for you tolocate them.

Take a look and I’m sure you’ll findsomething you may want to pursue. I will providethe links in the description below as I mentionedso definitely as you watch this video take a lookbelow.
Now the next alternative that you have isto explore small business grants that your statehas to offer. There are two sources specificallythat I would start with if I were you. The grantsthey offer are usually smaller and for the mostpart target brand new business owners who need alittle bit of help so if you need a substantialamount you know of funding for your operationsstate programs wouldn’t be a great resource.If you need a substantial amount of cash to getstarted then I would probably try to pursue acorporate grant program or there are severalfederal grant programs that may also help you out.Now the first one is a Small Business DevelopmentCenter.

Your local center provides support forsmall businesses as well as aspiring businessowners throughout the United States.So there are thousands of locations.This resource will help you get started if youare brand new to owning a business. They can helpput you in touch with a good mentor who wouldbe someone successful and recognized within yourcommunity. They will help you explore financingoptions as well so on a high level this is areally good way to network which is always the keyto success in business and to get started in yourarea, so definitely check them out.
I will linkthe main website below as well. I should alsomention the Economic Development Administration.This organization is actually an agency of theU.S. Department of Commerce.
They mostly focus onhelping beginners and those who are just gettingstarted. The areas they will help you with wouldbe financing, getting your office location space,things like that. I’ll share a link to themain site below as well but this would be agreat resource if you’ve never owned a business,if you’re just getting started and maybe you needa mentor or you need that little push to make surethat you’re on the right track.

Definitely don’tdisregard these two resources. They have differentoptions, they will help you get financing and evenif they don’t have any active grant programs atthe time when you reach out to them, they willbe able to put you in touch with a credit unionor a community bank that can help you out.
So Iwould not brush these off, I would definitely keepthem on my list of places to reach out to. Now,as promised, I want to share with you a quicklist of documents that you should start collectingif you plan on applying for a small businessgrant. The majority of grant programs willrequire you to submit the following documents: awell-written business plan (now business plan iskey and in that business plan you will have tospecify what your business is, where you planto take it, what your financials look like,even if you don’t have financial statementsyou should have a rough draft of what your balancesheet is at that point in time) so a business planis a must and if you need help writing abusiness plan then I’m happy to help you out.I’m actually going to include a video on mychannel soon so don’t forget to subscribe,so that you don’t miss that video.

Then you willalso have to provide your legal entity formationdocuments, such as those that are provided by yourSecretary of State.
For example, if you’re an LLC,if you are an s-corp or a c-corp, or whatever yourlegal structure is, you should have something thatstates officially what your business structure is.So most likely as part of your overall documentapplication package you will have to submit thatas well, so that the grant provider knows yourlegal status. Now, depending on the grand purposeyou may be required to provide your financialdocuments such as your tax returns, evidence ofyour revenue, expenses, maybe you have a budget,so they will ask you to share it with them sothey can determine your eligibility and, you know,check any other boxes they have to check withinthe grant program requirements. You may even haveto share the documents about your ownership andmaybe even some personal data. So be ready to dothat if you do want to apply for a grant.
Now,as I mentioned before, this list should giveyou an idea of what you may need to share withthe grant officer, but of course it will differbased on the program that you’re applying to sokeep that in mind.

Bagikan

Hello, my name is Reni Vengela usually called Reni. I am a professional writer on several sites, one of which is this blog.

Leave a Comment