Hidden Small Business Grants Worth Applying For
Many small business owners overlook niche grant programs that can provide crucial funding without the burden of repayment. One such example is the FedEx Small Business Grant Contest, which awards grants ranging from $15,000 to $50,000 to entrepreneurs with innovative ideas. Unlike traditional loans, these grants do not require repayment, making them an attractive option for startups and growing businesses. Additionally, the National Association for the Self-Employed (NASE) offers monthly grants of up to $4,000 to members, supporting everything from marketing efforts to equipment purchases.
Another lesser-known opportunity is the Amber Grant for Women, which provides $10,000 monthly to female entrepreneurs, with an additional $25,000 awarded annually to one recipient. This grant is designed to empower women in business by offering financial support without the constraints of debt. Similarly, the Halstead Grant, targeted at silver jewelry designers, awards $7,500 along with business mentorship, helping creative entrepreneurs turn their passion into a sustainable venture.
Local and state-specific grants also exist but are often underutilized. For instance, the California Competitive Grant Program offers funding to small businesses in underserved communities, while the New York State Small Business Grant Program provides financial assistance to minority- and women-owned enterprises. These grants are tailored to support regional economic growth, making them a valuable resource for businesses operating in specific areas.
Uncommon Funding Sources for Your Business
Beyond traditional grants, crowdfunding platforms like Kickstarter and Indiegogo have become alternative funding sources for small businesses. While not grants in the strictest sense, these platforms allow entrepreneurs to raise capital by showcasing their products or services to a global audience. Successful campaigns can generate substantial funds, often exceeding initial goals, while also building a customer base before launch.
Corporate sponsorships and partnerships are another unconventional way to secure funding. Companies like Visa and Intuit frequently run grant programs or competitions that provide financial support to small businesses. For example, the Visa Everywhere Initiative offers funding and mentorship to startups in fintech and other innovative sectors. These programs not only provide capital but also connect entrepreneurs with industry leaders who can offer guidance and networking opportunities.
Nonprofit organizations and industry-specific associations also offer grants that are often overlooked. The Small Business Innovation Research (SBIR) program, funded by the U.S. government, provides grants to businesses engaged in research and development. Similarly, the Rural Business Development Grant supports entrepreneurs in rural areas, helping them access capital for expansion. These grants are designed to foster innovation and economic growth in specific sectors or regions, making them ideal for businesses with specialized needs.
Small Business Grants You Didn’t Know Existed
Many small business owners are unaware of grants tailored to specific demographics or industries. The Minority Business Development Agency (MBDA) offers grants to minority-owned businesses, providing financial assistance and resources to help them scale. Similarly, the Veterans Business Outreach Center (VBOC) supports veteran entrepreneurs with grants and training programs, recognizing their unique contributions to the economy.
Another overlooked grant is the USDA Rural Development Grant, which assists businesses in rural communities with funding for infrastructure, technology, and workforce development. This grant is particularly beneficial for agricultural and small-town enterprises looking to modernize their operations. Additionally, the Environmental Protection Agency (EPA) offers grants to businesses developing sustainable and eco-friendly solutions, supporting innovation in green technology.
Finally, some grants are industry-specific, such as the National Endowment for the Arts (NEA) grants for creative businesses or the National Science Foundation (NSF) grants for tech startups. These programs provide funding to businesses that contribute to cultural or scientific advancements, often with fewer applicants than broader grant opportunities. By exploring these niche funding sources, small business owners can find the financial support they need to thrive without relying solely on loans or personal savings.