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Three Ways to Find Small Business Grants

by gbaf mag
Editorial & Advertiser disclosure

A small business grant is often a predetermined amount of money that governmental agencies or private organizations give to various small businesses as a way to stimulate their growth. It’s loosely described as free financial aid. Small business grants however is full of caveats that often specify how this money ought to be spent. It’s also very difficult to tell what is actually intended by the grant’s terms.

For any kind of grant, the first thing you have to do is put together a good, well thought out business plan. It’s been said that if you want to get a federal government grant, your business plan has to be the best of the best. So you have to make it. It doesn’t need to be perfect, just prepared correctly. The government isn’t going to spend millions of dollars on your marketing so your marketing needs to focus on attracting private investors or hiring professional services to help create the best business plan you can.

There are currently around seven different types of small business grants available. They range from federal grants offered by the United States Federal Government to those offered by state governments, local governments, and organizations. These grants aren’t always grants for new businesses, but rather loans that need to be paid back. They can also be combined with many other grants offered by different sources, resulting in one larger and more attractive package. Most of these opportunities require a significant amount of potential revenue, at least a percentage of which has to come from a proven business plan. Other forms of funding like debt grants may also be available but not for new businesses.

Besides small business grants, there are other small business loan programs that are available. Some of these loans are government sponsored but many of them are not. While some lenders do offer government backed loans for small business financing, it is generally not necessary or required for applying. These alternative financing programs include: SBA loans, merchant cash advances, commercial real estate loans, and various other financial options.

Private foundations and special interest groups often provide small business grants as well. There are even government agencies that provide grants specifically for women business owners. To find these programs, it is best to conduct a search online. Each of the government agencies offers detailed information on what types of small business grants are available and the eligibility requirements.

There are also various ways to apply for small business grants. Some of these opportunities include: contacting state and local government agencies, contacting professional grant writers, and hosting creative events to attract funding. One advantage of applying through local government agencies is that many of these organizations offer a discounted rate on applying and receiving grants. This makes it easier to find grant opportunities and to secure funding.

Grant writing is one way to find small business grants. Most federal agencies offer dedicated grant writing departments to help with writing grant proposals. The grant writer can help you with every step from finding an eligible business to accessing the appropriate funding. Many federal agencies offer a competitive writing program and a good writer can bring great success to your proposal.

A third popular way to find small business grants is to contact professional grant writers. There are professional grant writers who can help you secure the funding you need. To find the best small business grants, be sure to do your research beforehand. Contacting the agency in charge of small business grants and requesting a comprehensive proposal is the best way to go. Make sure you submit a proposal that is completely complete and accurate, and follow up with a hard inquiry to ensure the agency is considering your proposal.


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