You will find a list of free government grants in the following paragraphs that you may utilise to get your firm off the ground, and you won’t ever have to pay them back.
Loans And Grants Available For Small Businesses
One method of obtaining financial backing for a new initiative is to apply for a grant from the government at any level (federal, state, or local), as well as from private businesses, financial institutions, and other organisations.
These grants give you the money you need to get your firm off the ground and running so you may pursue your entrepreneurial goals. And the most exciting thing is… You are not required to repay them in any way. In essence, they are grants of free money that are distributed to candidates who meet the necessary criteria.
Grant.gov is the place you should start looking first if you want to find anything. It is a useful website that provides access to an extensive database of free financial resources provided by the government. You can look for and apply for one of the thousands of funding opportunities available from the federal government.
But keep in mind that the federal government does not necessarily provide all subsidies to small enterprises. Others choose to pursue higher education at tertiary institutions such as universities and colleges, or even join charitable organisations.
In light of this, we have compiled a list of the small company grants that are available in 2022 and which you may be eligible to receive.
The SBIR Program of the NIDILRR
The Small Business Innovation Research (SBIR) program’s primary objectives are to encourage technical innovation and research in the private sector, as well as to enhance the nation’s small enterprises, for the nation’s social and economic gain. The objective of the SHIR programme, which is run by the National Institute on Disability, Independent Living, and Rehabilitation Research (NIDILRR), is to make life better for those who are disabled and live independently.
The initiative is administered by the Administration for Community Living (ACL), which provides a total of ten grants worth up to one million dollars. On the official website of the ACL, you can get additional details about the funds that are granted by the programme.
Grants for Rural Innovation to Stimulate Economic Growth (RISE Grants)
The RISE programme provides financial assistance in the form of grants in order to facilitate the creation of high-paying rural jobs, the utilisation of local productive assets in low-income areas, and the acceleration of the launch of new firms. Applicants that meet the requirements could get a grant with a minimum sum of $500,000 and a maximum amount of $2,000,000. In addition, the grant has a duration of four years. Visit rd.usda.gov to acquire further knowledge concerning the programme.
The Program for the Transfer of Technology to Small Businesses
The STTR programme is another award that you should look into applying for. STTR is an organisation that was established in 1992 with the mission of bridging the gap between scientific research and the commercialization of the inventions that come from that research. In addition to this, it seeks to expand the financing alternatives available to support research and development carried out by non-profit research groups and smaller firms.
However, in order to be eligible for the prize during Phases I and II, interested parties are required to work together with research organisations that are not-for-profit. In addition to this, they must successfully manage a company that has less than 500 employees. Please refer to the attached document for additional requirements to qualify.
Accelerator Program for 500 Global Flagship Companies
Throughout the course of the year, new small businesses and start-ups are given the opportunity to gain access to capital through the 500 Global Flagship Accelerator Program. In 2010, the programme began offering start-up businesses in Silicon Valley an accelerator programme that lasted for a period of four months. After some time had passed, they relocated to San Francisco and began accepting new applications on an ongoing basis. Founders that meet the requirements can receive investments of up to $150,000 to assist with the expansion and scaling of their respective start-up businesses.
The Foundation of Amber Grant
The Amber Grand Foundation was established in 1998 as a means of paying tribute to the life and legacy of Amber Wigdahi. She had just been 19 years old when she passed away, leaving her business ambitions unfulfilled. Since that time, the programme has given women business owners the opportunity to tell engaging stories while also providing financing in the amount of $10,000 each month and $25,000 each December.
Grant Competition for Small Businesses Sponsored by FedEx
The winner of the FedEx Small Business Grant Contest will get $50,000 in prize money, FedEx Office Print services with a value of $4,000, and additional perks such as an audit of their website performed by HigherVisibility. The competition is open to for-profit, American-based small enterprises with between one and ninety-nine employees and a minimum of six months in existence.
The National Association of Independent Business and Entrepreneurs (NASE)
NASE offers growth grants for self-employed individuals and microbusinesses that can be worth up to $4,000. In addition, the dependents of these persons are eligible to receive a $3,000 annual college tuition. The funding is distributed on a rolling basis throughout the year, with successful applications being examined in April, October, and January.
Patagonia Corporate Grant Program
The Patagonia Corporate Grand Program collaborates with local, grass-roots organisations who have environmental preservation and protection goals on their agendas and are actively working to achieve those goals. Typically, these organisations are awarded financing in the range of $10,000 to $20,000 per year. By going to https://www.patagonia.com/how-we-fund/, you will be able to determine whether or not your small business is eligible for the award.
Eileen Fisher Women-Owned Business Grant
Grants from Eileen Fisher, which can total up to one hundred thousand dollars annually, are open to applications from women-owned and women-led businesses. Candidates are required to own at least 51% of their respective firms. In addition, the company should have been operational for at least three years and generated yearly revenue of no more than one million dollars. Another prerequisite is that the business endeavour must be geared toward making a constructive contribution to society and the environment. The software is now unavailable due to a temporary suspension; however, there is a good probability that it will become available again very soon.
Veteran Small Business Award
Funding of up to $15,000 is available through the StreetShares Foundation’s small business grant programme for military service members and their families. However, they must own at least fifty percent of the company in order to participate. The goal of the programme is to motivate, educate, and provide support for participants as they develop and grow their small enterprises.
American Express’s All-Inclusive Backing is Available
The Inclusive Backing from American Express comes in last, but it’s certainly not least. It is a grant programme that provides financial help to small enterprises with a physical location, up to a maximum of $5,000. At this time, applications for the subsequent cycle of the programme can be submitted online. Therefore, you should start the application process if you identify as a woman, veteran, or non-binary individual.
Conclusion
It is not a mystery! The epidemic caused a significant amount of damage to small enterprises. To our good fortune, assistance in the form of grants is offered both by the government and by private groups. Make the most of the free money that was provided above so that you can expand and take your company to new heights.
