Why are so many entrepreneurs seeking start-up grants and support? The latest data reveals that entrepreneurship is on the rise. New innovators are seeing a need for goods or services borne out of the coronavirus crisis. Others are taking a step towards the business (or side hustle) that they’ve always dreamed of starting. While most go-getters are aware of the option to apply for business loans, there is an option even fewer are aware of: Grants.
Are Grants Easy to Get?
Each grant has a different application process. Some applications are simple and designed to be completed without the need for a grant writer. Typically, the larger the grant sum, the more extensive the application process. Become familiar with funding terms and necessary business documents. Free resources and grant application toolkits are also available online to help. You may want to invest in hiring a grant writer who can find and apply for grants on your behalf if you do not feel comfortable yourself.
Unlike a loan, you do not have to pay back a grant. In fact, the only downside to grants is the tedious task of finding and applying for them. Luckily, databases like GrantWatch.com make it easy to narrow down grant searches based on recipient type, location, and grant interests.
21 Grants Entrepreneurs Can Apply For:
- Children are invited to participate in a contest that fosters creativity and entrepreneurship, with prizes up to $1,000.
- USA youth, ages 16 to 26, can apply for grants of up to $5,000 to pursue innovative ideas and projects.
- Urban entrepreneurs in eligible areas can apply for a grant of $1,000 and in-kind support for business development.
- Women entrepreneurs can apply for this $500 grant for business development.
- Black women entrepreneurs can receive grants of up to $10,000, and in-kind support to equal opportunities in business.
- $15,000 – $50,000 is available to minority entrepreneurs from Historically Black Colleges and Universities
- USA artists can apply for this grant of $7,500 and in-kind support for career-building activities.
- USA eligible military veterans & their families have the opportunity to participate in an intensive entrepreneurship education and training program.
- Illinois entrepreneurs can apply for grants of up to $2,000 for assistance in expanding or starting a new business.
- Individuals who reside in Los Angeles may be eligible for a $10,00 grant for social justice activities.
- Seed money and business training are available to help entrepreneurs in Massachusetts launch or expand a business or nonprofit.
- Grants of up to $5,000 are available to Michigan entrepreneurs and small businesses in eligible counties for Coronavirus (COVID-19) relief.
- Minnesota technology entrepreneurs and start-ups could apply for this grant of up to $35,000 to support business development.
- New York start-up companies may qualify for seed grants starting at $25,000 and receive in-kind mentoring and business development services.
- Ohio individuals and organizations in eligible locations can apply for this $5,000 grant to support for-profit gardening ventures.
- Opportunities for Rhode Island entrepreneurs to compete for cash awards up to $150,000 and in-kind support to develop businesses.
- Grants up to $1,000 to Utah individuals are available to help improve themselves as entrepreneurs.
- Training and grants of up to $4,500 are available to Wisconsin individuals and businesses for planning and development activities.
- Inuit, Métis, and Status or Non-Status entrepreneurs, can apply for grants for expanding a small business or funding a start-up.
- Grants of up to $75,000 to Northwest Territories businesses and entrepreneurs are available to encourage economic recovery.
- Nunavut entrepreneurs may be eligible for grants of $5,000 and in-kind support to assist in developing businesses.
More Grants Are Available:
New grants are added on a regular basis. Foundations primarily fund these start-up grants; however, various local and state governments are also making contributions. Small business grants are also usually available to registered businesses who have generally been operating for at least 1-year. Keep in mind, business grants are generally for programs, projects, activities, and services to help your business support the community. Finding grants for general business expenses, such as office supplies, or building expansion, are more difficult to come by.
Persistence, determination, and a desire for passion have helped entrepreneurs succeed throughout history. We wish your endeavor and venture the best of luck in the new year.