Why Grants Are Worth Your Time
Grants are essentially free funding—you don’t pay them back. They’re offered by governments, nonprofits, and corporations to support small businesses, especially those in underserved communities, innovative industries, or owned by minorities, women, or veterans.
Step 1: Find the Right Grants
Start by researching opportunities that match your business.
Federal Grants: Check Grants.gov or the Small Business Administration (SBA) website. Programs like the SBA’s Growth Grants target specific industries.
State/Local Grants: Visit your state’s economic development office website. Many states offer grants for hiring locally or going green.
Corporate Grants: Companies like FedEx, Visa, and Amazon run annual grant competitions. Follow their social media for updates.
Step 2: Check Eligibility
Grants have strict criteria. Common requirements include:
Business age (often 1–2+ years in operation).
Revenue thresholds (e.g., under $1M annually).
Location, industry, or ownership demographics.
Pro tip: Avoid wasting time—skip grants where you don’t meet 100% of the eligibility rules.
Step 3: Gather Your Documents
Most applications ask for:
Business license and tax ID.
Financial statements (bank records, profit/loss reports).
A clear pitch explaining how the grant will help your business grow.
Step 4: Apply Early and Accurately
Grants are competitive. Submit your application before the deadline, and double-check for errors. Even small mistakes (like typos) can get your application tossed.
Step 5: Follow Up
Many grants take weeks or months to review. If you don’t hear back, politely email the provider for an update. If rejected, ask for feedback to improve future applications.
Final Thoughts
Applying for grants takes effort, but free funding can be a game-changer for your business. Start small—focus on 1–2 grants that fit your goals, and build from there. Remember, thousands of businesses apply, but only the prepared ones win.
Ready to take action? Block time this week to research grants, and bookmark this guide. Your business deserves that boost—don’t let another opportunity slip away.