Grants to Start Small Business – Who offers and How to Find Them?
Starting a business and running it successfully requires large capital. You might have come up with the extraordinary proposal idea, but without having sufficient fund, your business idea will not flourish in long run. In such a situation, the Grant can become the helping hand for the progression of your dream to establish your own small business.
“Free money”, is the concept introduced in the past when Government and Reputed organization started offering Grants to the small businesses. These funds from the company or the government are the launchpad for starting your business. The positive side of the Grant is that you do not have to pay it back, or rather, there will be no interest rates or premium paying terms on the payment of received grant. You get to enjoy the freedom of starting the business without getting into a hassle-free small business loans paying terms.
However, finding the grant lending organization and qualifying for the grant is a very arduous task. In most cases, the Government will take the initiative and offer the grant to the specific industry who is willing to contribute a specified amount for these businesses in order to make commercially viable products or services.
Although, the Internet is filled with various kinds of misleading content, government policies and grant lending terms of the private organization who are willing to lend grants to organizations. Sometimes all the misleading or outdated information makes business owners confused. As a result, the small business entrepreneurs find a hard time reaching out to the original grant lending organization on time or applying the application to obtain the grant offered by authorities.
We did the research and realized the actual problem. To make the process simple we have compiled small business grants from the 2018 lending authority where you can apply if you are planning to start a small business to enjoy interest-free finance.
Small Business Development Centers:
Each state will have Small business development center where entrepreneurs can submit their application to request for the grant. The local governments distribute
some funds every year to support the small-scale business to maximize potential growth. Generally, the SBDC associates with the grants for minorities, universities or state economic development agencies to find the right talent and ambitious entrepreneur to whom lending grant can be helpful for the country’s economic development. They also conduct the training for entrepreneurs, supports in networking, provides business skill and finds the mentor to give them guidance at each step of their journey.
Corporate small-business grants:
Some top multinational companies and big organization in the world distributes some funded amounts every year through philanthropic activity. The purpose of the Corporate Grant will be providing nonprofits services to the specific industries, such as grants, for startup. Some companies also offer a grants for business owners to encourage the local entrepreneurs to enter into the business world and create jobs for others. It helps in the overall economic development of the country.
Small Business Innovation Research Program (SBIR):
The role of SBIR is to get involved in the research and innovation in the country. They generally focus on small businesses that are engaged in the research and development of the commercially viable products. It can be a technological innovation or scientific entrepreneurship.
National Science Foundation (NSF):
The NSF has a clear goal when it comes to accepting the application for offering the grant to any small businesses. The NSF focuses on the businesses who has potential in developing new technology using engineering and science skill. Every year the industries are changed to make progress in the other field as well. The NSF has their YouTube channel where they share the information about the application submission process and overall acceptance guidelines. You can learn more about them on their YouTube channel and submit the application form by following their
NASA is the well known government-funded space research and technology development organization. It also supports the small businesses by offering grant periodically to continue their research and development. Although, NASA offers grants to limited industry and mostly focuses on the businesses which are capable of making progress in energy efficient product, alternatives, and renewable energy.
National Institutes of Health (NIH):
The National Institutes of Health offering the grants to the small businesses who are committed to research and developing the commercially innovative biomedical technology. Increased pollution due to industrialization and many other environmental changes are causing a bad effect on the human health. The institute is trying to motivate the small business and innovative minds to work on growing health problem and develop viable healthcare products.
Federal small-business grants:
The Government agencies are among the top grant distributors in the country. It is currently promoting and supporting growing enterprises who are doing research and developing products for child care services. However, at first view, the application process might look intimidating, but it is a great opportunity for the small business owner to get the fund to grow their idea.
There are several other Government initiatives and private organizations who supports the small businesses to grow in the industry. If you have a brilliant business idea which can help people to live a better life, then you should submit the application in one of the Grant lending organizations and request them to lend you the fund to establish your small business in the region. Doesn’t hurt to try! If your idea is unique and posses great improvement in the society then you will surely get the positive response from one of the Grant lending institutes.