Government Grants
Not all assistance flows directly from the federal government to small businesses. In addition to the programs listed here, be sure to check with your state and local governments and use the resources listed below.
The NIH and CDC are offering a grant to help small businesses working on medical projects supported by previous grants. This grant will provide training in entrepreneurship and innovation to these small businesses, teaching the value of their inventions and how to transition from the lab to the commercial world. The deadline to apply is April 30, 2024.
The National Institute of Health (NIH) is currently funding grant opportunities related to COVID-19 research. These grants are for small businesses that develop and research biomedical technology. There are several grants available with deadlines throughout 2024.
The SBIR program supports organizations to advance technology and research, and support the social/economic benefits for the nation. The SBIR will be backing the National Institute on Disability, Independent Living, and Rehabilitation Research (NIDILRR) through the Administration for Community Living (ACL) to provide 10 grants that support the improvement of lives with disabilities.
The SBIR offers grants to small businesses to participate in federal research and development with the potential for commercialization. It’s an awards-based program that helps businesses achieve scientific excellence and technological innovation. To qualify for SBIR grants, you must operate a for-profit company and satisfy other requirements.
The STTR program focuses on funding research in the R&D arena. The requirement is that the small business has a formal collaboration with a research institution. To qualify for STTR grants, you must operate a for-profit company and satisfy other requirements.
The USDA’s Rural Development Business Programs provide financial support and technical assistance to promote rural business growth. They offer loans, grants, and guarantees with the goal of enhancing economic opportunities and job creation in rural communities.
Grants and loans designed to aid minority-owned businesses are offered throughout the year. Minority-owned businesses can find information about local MBDA Business Centers atMBDA.gov.
The U.S. DOE has grants available to small businesses in education. Grants include opportunities for public schools, state agencies, or nonprofit organizations; however, others allow applications from for-profit private sector companies. Deadlines for currently available grants run through April 4, 2024.
This program distributes federal funds through state entities assisting small businesses desiring to export product. Small businesses that meet the criteria can use the assistance to participate in foreign trade missions and shows, obtain entry to foreign markets, develop websites, and design international marketing products or campaigns.
The EDA is part of the U.S. Department of Commerce and offers funding opportunities for projects that support regional and national economic development. Applicants can apply for a variety of rolling-basis EDA investments that fund projects in construction, non-construction, planning, technical assistance, research and evaluation, higher education, and more.
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Applying for a government grant can be time-consuming and technical. You want to ensure, that you are eligible before applying. In addition to the legal and administrative prerequisites, there are ongoing reporting and auditing requirements.
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General small business grants
There are several nonprofit and corporate entities offering grants and assistance to small businesses. Here are a few programs:
Bizee is offering grants to support aspiring entrepreneurs and students. The “Young Entrepreneur Scholarship Grant” provides $2,500 to a high school senior, undergraduate, graduate, or trade school student in the U.S. with a GPA of 3.0 or higher and an interest in starting a business. The “Fresh Start Business Grant” offers $2,500 and Bizee’s Gold plan for free to adult entrepreneurs (21 years or older) in the U.S. planning to start a new business.
FedEx will hold its 12th annual Small Business Grant Program, set to award over $230,000 in grants and services to 10 U.S.-based small businesses. One grand prize winner will receive $50,000 and nine additional recipients will be granted $20,000 — along with various perks, including print credit, consultation services, and more. Applications close on April 1, 2024.
This grant offers a monthly $500 to qualifying business owners in the US. Applicants are evaluated based on a “5C Framework”, which assesses aspects of applicants’ business. Applicants receive feedback and a two-month free membership in the Freed Studio, a community of ambitious business owners. Grant recipients are eligible for an end-of-year grant of $2,500.
GoFundMe’s Small Business Relief Fund will match $500 grants to qualifying small businesses that have been negatively impacted by COVID-19 and raise at least $500 through a GoFundMe campaign. The fund is backed by GoFundMe and corporations like Intuit QuickBooks, Yelp, GoDaddy, and Bill.com.
Small business aggregator Skip offers monthly grants for U.S.-based small business owners and entrepreneurs; grants are set at $1,000, though the exact amount varies. To be considered, you must have a Skip account and add the monthly grant to your Funding Assistant, as well as be subscribed to Skip’s YouTube channel.
In partnership with Verizon, National ACE has developed a digital readiness program to help small business owners. The free online curriculum includes expert coaching, peer networking, and other support resources. Those who register for the program and take two courses are eligible for a $10,000 grant. This opportunity is rolling.
Small businesses feel the effects of a natural disaster the hardest. To help offset some of the costs related to immediate business repairs, the U.S. Chamber of Commerce Foundation and FedEx have created the Small Business Readiness for Resiliency (R4R) Program. The program helps small businesses put plans in place to prepare for disaster and provides immediate emergency funding when necessary.
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Industry-specific and diversity small business grants and programs
The Accion Opportunity Fund grants small business loans ranging from $5,000-$250,000, along with educational resources, coaching, and support networks in both English and Spanish. The program offers mentorship programs, microloans, and a hubzone program for small business owners’ financial needs. Accion Opportunity Fund works with a clientele that is 90% diverse, has created and retained over 50,000 jobs, and has generated $1 billion in economic activity.
Sponsored by Skip, the AI Innovation Grant will award $10,000 to fund the development of AI-based innovation in business. The grant is open to all U.S.-based small business owners and entrepreneurs in all stages and sizes of business. Applications due March 15, 2024.
Created to support Black entrepreneurs, the program offers financial support, mentorship, business advice, and promotional support. Eligible sellers will have access to free imaging services, cash grant opportunities, advertising credits, and money toward start-up costs.
The foundation awards grants throughout the year, including the $10,000 Monthly Amber Grant, two $25,000 Annual Amber Grants, and $10,000 each quarter for The Startup Grant and The Non-Profit Grant. There are also 12 Business Category Grants — an additional $10,000 each month — with all eligible applications remaining active until the month of their specific category.
America’s Seed Fund, sponsored by the National Science Foundation, offers up to $2 million for U.S.-based startups and small businesses that are developing innovative technology. Project pitches are accepted on a rolling basis, and official responses vary.
The Binc Foundation provides emergency financial assistance to bookstore owners, booksellers, and comic store employees and owners facing unforeseen financial needs. Eligibility criteria include specific employment durations and financial hardship resulting from qualifying life events.
The Cartier Women’s Initiative Awards empower women impact entrepreneurs in various sectors, focusing on social and environmental sustainability. The program offers three award categories: regional, diversity, equity and inclusion, and science and technology pioneer. Winners receive financial support, coaching, and peer learning opportunities, with the diversity, equity and inclusion category open to all genders.
The Comcast Innovation Fund provides grants to support technology and research “for the betterment of the Internet.” Areas of interest for the 2024 grant year include open-source development, general and targeted research, and work that enhances the growth of the Internet.
If you’re an Etsy business owner, you may qualify to apply for relief funding courtesy of a partnership with CERF+. Both companies continue to provide up to $2,500 in funding through the grant program. To apply, you must have been a registered Etsy business for at least one year and have been affected by a natural disaster.
Foundation for a Just Society offers grants to local, national, regional, and global organizations and networks that support the rights of women, girls, and LGBTQI individuals. Grants are issued four times each year (March, June, September, and November), with invitations for proposals extended two months prior.
Galaxy Grants is on a mission to support women and minority entrepreneurs with their small business by offering valuable resources, tools, funding, and knowledge. They are running a $2,750 Galaxy Grant Giveaway, sponsored by Hidden Star, a 501(c)(3) organization, with a quick 30-second entry process. The deadline to enter is March 31.
The Halstead Grant is an opportunity for emerging silver jewelry entrepreneurs to boost their careers. Applicants answer 15 business questions and submit design portfolios, aiming to win a $7,500 cash grant and other benefits. Application deadline is May 1, 2024.
The HerRise MicroGrant offers financial aid to U.S.-registered businesses that are majority-owned by women of color, with a focus on businesses with innovative community solutions that are struggling to obtain funding. Applications reviewed monthly.
Hivers and Strivers works to provide capital to qualifying businesses. The investment group funds projects submitted by veteran-owned and veteran-led businesses. Funding opportunities can range from $250,000 to $1 million. Those who qualify can apply for funding for a business idea on a rolling basis.
A resource for female entrepreneurs seeking grants. Through partnerships with brands like Visa, Caress, and Comcast, IFundWomen has deployed over $170 million to entrepreneurs. Applicants gain access to funding and resources within the IFundWomen community.
Named for Catherine “Kitty” Abrams Tadlock Webster, the mother of Founder’s First CEO Kim Folsom — will award a total of $25,000 to 25 small business owners who identify as mothers in 2024. Eligible businesses must be based in the U.S., have annual revenues under $5M, and employ between 2 to 50 people.
The National Black Business Pitch is a competition aiming to connect Black-owned businesses with corporations looking to diversify their supply chain. It seeks to open doors and foster long-term relationships that can lead to sustainable contracts. The selected 30 finalists will pitch to corporate procurement and supplier diversity professionals, with three companies receiving cash prizes of up to $10,000 to promote business growth and opportunity. Applications are due by June 3.
Offering growth grants up to $4,000 to assist with training, marketing, & more. Must be a member for 90 days before eligible to apply.
Patagonia’s corp. grant program offers between $10,000 and $20,000 of funding to nonprofits with missions to protect and preserve the environment.
Rebuild The Block was created with the purpose of supporting Black entrepreneurs. The company provides monetary support to Black businesses to help connect them with community members. The application form only accepts 90 applicants per three-month cycle. To apply, Black-owned businesses must detail how they’ve been affected by COVID-19 and/or looting destruction.
Rewriting The Code (RTC) works to support college and early-career women in tech by providing them with opportunities to help disrupt gender and racial inequality in the industry. The Fund provides financial resources to women enrolled in undergrad tech programs to help cover costs that may be an obstacle to education. All applications are accepted on a rolling basis.
SheaMoisture, has created the SheaMoisture Fund to support small Black-owned businesses. The company pledges to provide $1 million in direct funding annually to eligible Black-owned businesses in the U.S. through programs like “The Next Black Millionaires,” offering $100,000 grants and business development support, and “Brown Girl Jane,” which provides grants ranging from $10,000-$25,000 to Black and woman-owned beauty and wellness businesses. Additionally, SheaMoisture offers its Community Impact Grant, giving $10,000 grants to Black-owned businesses based in the U.S. that have been operating for at least one year.
StartOut offers scholarship opportunities to LGBTQ+ entrepreneurs who wish to participate in their Founder Program and become a Giving Member. The initiative provides a 12-month membership for those LGBTQ+ entrepreneurs who have been underrepresented, underserved, and underestimated within their community.
This program brought to you by the e-commerce brand, Wish, assists Black-owned small businesses by dedicating a $2 million fund to support approximately 4,000 Wish Local partners. Recipients can receive financial assistance ranging from $500 to $2000. Eligible businesses must meet criteria such as having a Black-owned business with 20 or fewer employees and an average annual revenue under $1 million.
This blog post was curated from an original article by the U.S. CHAMBER OF COMMERCE. Information was filtered to provide most accurate grant information applicable to the Middle Tennessee Region. Original article credited & linked HERE.
