Are you seeking grants for payroll? If so, you should read this first. If you are new to grants, you will quickly discover that the majority of grants will not fund payroll expenses. In fact, funders usually list wages, saleries, rent, debt, and other overhead costs or general operating expenses as items that are ineligible for funding. So where does that leave you?
While payroll grants are nearly impossible to find, they do exist! They just might be very specific when it comes to location and eligibility criteria. Due to the Coronavirus pandemic, there are more payroll grants than usual this year; however, these won’t last long. There is already a 50 percent decline in payroll-related grants available. Below, we’ve included the grants currently still listed on GrantWatch for payroll.
3 Payroll Grants That You Don’t Have to Pay Back:
- Illinois minority-owned for-profit food establishments in eligible counties can apply for payroll grants.
- Maryland nonprofit and for-profit organizations in eligible counties can apply for grants of up to $45,000.
- Missouri-qualifying businesses in eligible counties can request grants of $5,000.
While these grants are specific to payroll, you could also consider applying for a loan. Unlike a grant, you need to pay back a loan. However, in some cases, certain loans may be forgivable. It is essential to read the full details before applying.
4 Loans That Can be Used for Payroll:
- Women or minority-owned Michigan businesses in eligible counties can apply for loans of up to $50,000.
- New Jersey businesses in eligible counties can apply for loans of up to $20,000.
- North Carolina businesses in eligible counties can apply for loans of up to $25,000.
- Wisconsin small businesses in eligible counties can apply for loans of up to $2,000.
If you are determined to seek more grants, you may need to think outside the box. You could try searching for grants that cover general operating expenses. Grants are also continuously released for work training and workforce development. Here are two grants that are accepting applications at the moment:
- Grants of up to $30,000 to Massachusetts for-profit business companies to meet employee training needs.
- Grants to provide work skills training for New York individuals without jobs and those who need higher levels of employment.
Otherwise, we strongly recommend searching for grants that can fund your organization’s programs, projects, and/or services. Locating funding for your programming and projects, may free up funds that can then be applied to payroll expenses