Government Grant

How To Apply For A Small Business Government Grant?

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A small business grant is funding that is provided from the government to a small business to help is succeed. The funding that is provided does not need to be paid back.  You do not need to pay fees or put up any collateral to receive this grant.  You can use the money for your business and you will never have to pay it back.

In most cases, there are no rules on how you spend the grant money. However, in some cases there are rules that come with the grant money.  The rules may dictate that the money be spent on purchasing technology for the team to have a greater production output.  If the funds are used to pay anything else, the money will have to be paid back.  You may also be accused of fraud and have legal issues.

Who Qualifies For A Small Business Grant?

Securing a small business government grant is not that easy.  In most cases grants are not available for:

  • Start up business
  • Paying operational expenses
  • Paying off debt

Small business grants are essentially for:

  • Medical research
  • Education
  • Green businesses
  • Rural businesses
  • Women
  • Minority-owned bsuiness
  • Innovators
  • Veterans

Where To Find Grants

Doing a simple google search will not help you find a small business grant.   You can find small business grants by searching on specific websites and organization. Some of these websites are:

  • Grant.gov
  • FedEx Small Business Grant Contest
  • USDA Rural Business Development Grants
  • SBIR.gov
  • Asian Women Giving Circle
  • Small Business Development Centers

How To Apply?

 Applying for a small business grant is a lengthy process that requires a lot of time and attention to detail.  Here are the steps that you will have to take to apply for a small business grant.
  1. Gather your application material – You will need to have your business plan, business records, administration details, and funding objectives handy.
  2. Review Grants – You will have to see which grants you are eligible for. Make sure to carefully read through the requirements to see which ones apply to your business.
  3. Write Your Proposal – You should carefully write your proposal.
  4. Proof Read – Of course make sure to proof read your proposal before you hit submit on the grant website.

These may seem like an easy four step process, but you want to make sure you pay attention to the detail.  You need to make sure that your grant application stands out from the rest.  Some things you can do to stand out from the rest of the grant applications are:

  • Make sure you put time into creating a professional resume.  This will help grant reviewers understand your background and your businesses.
  • First impression is everything.  These days that first impression is virtual. Make sure that your website and all of your social media platforms are updated and have a good appearance.
  • Be creative in your application.  Do something that is considered out-of-the-box in your application to help grab the reviewers attention.

If this process feel overwhelming, you can hire an expert to help you with your application.

The Bottom Line

Now that you have your small business grant application submitted, you have to sit and wait.  It can take 3 to 6 months to find out if you received the grant.

 

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