The Small Business Administration (SBA) is a great resource for business owners. Their main focus is to support small businesses struggling the most. It’s important to know what options are available to you, so let’s take a look at them.
Grants.gov
Grants.gov is a great first place to get started on your search. There is a complete list of all available federal grants, along with their current guidelines and the amount of funds available. Create an account there so you can search for small business grants, and apply directly on the website.
Targeted Economic Injury Disaster Loan Advance
The SBA will contact any businesses that qualify, and they give assistance to businesses in low-income communities with at least a 30% loss of revenue. Get up to $10,000 in financial aid.
National Association for the Self-Employed (NASE)
NASE is offering Growth Grants to members who are taking their business to the next level. These grants can be valued at up to $4,000 and can be used to boost your marketing strategy, purchase new equipment, or hire new employees.
Shuttered Venue Operators Grant
If you own a space that hosts live entertainment, such as a theatre or concert venue, this program may be able to help. Be sure you pay attention to the requirements of this grant. There is usually a certain time period that businesses had to have been open in order to qualify. This grant can potentially cover 45% of the yearly gross revenue, or $10 million.
USDA Rural Business Enterprise Grant Program
Small business owners in rural areas will want to see if they can qualify for this program. The business must have less than 50 employees and earn under $1 million in annual revenue. While there isn’t a maximum grant amount allowed, smaller requests will get support first.
National Institute of Food and Agriculture (NIFA) Grants
The NIFA Grant is a federal agency that works alongside the USDA. They offer grants throughout the year, with a concentration on nonprofit and/or larger businesses.
A Program For Every Situation
Now that you have a better understanding of what types of grants are available to small business owners, it’s time to see where you fit in. Explore the options above and apply for the program that is best for you.
