Travel GuideAs a small business owner in the United States, you will be glad to know that numerous grants can help you build or even expand your business so you can achieve your business dream as soon as possible.
Regardless of the sector that your business falls into, there are various grants out there that you can apply for and get, once you meet their eligibility requirements.
These grants are many, including Small Business Association Grants, State Trade Expansion Program (STEP), USDA Grants, National Institute of Standards and Technology (NIST) Grants, EPA Grants, Economic Development Administration (EDA), and so on.
However, in this particular article, we will be taking a thorough look at a few of them, and discussing details such as eligibility requirements, application process, application deadline, and so on.
After going through this list here, if you find one or two that you think you are eligible for, be sure to Apply for the small grant in the US now!\
Apply For These Small Business Grants in The US Now:
The SBIR and STTR Programmess
These are prestigious grant programs that are designed to motivate domestic small businesses to take part in Federal Research/Research and Development (R/R&D) with the possibility of making a profit.
These competitive programs push small businesses to tap their technological and innovative potential by investing Federal research funds in vital American priorities to boost the country’s economy.
They aim to promote technology transfer using cooperative R&D between small businesses and research institutions.
The SBIR and STTR programs have three phases:
Phase I: This phase provides between $50,000 – $250,000 for 12 months (STTR) or 6 months (SBIR). The aim here is to show the technical advantage, practicability, and commercial potential of the proposed R/R&D efforts.
Phase II: This is a continuation of Phase I. This phase provides an amount of $750,000 for 2 years. Funding here will be determined by the outcome of Phase I, and only Phase I awardees are qualified to get an award.
Phase III: There is no funding in this phase. This is where small businesses try to achieve commercialization objectives resulting from the Phase I and II R&D activities.
Eligibility Requirements
- Applicants must be a small business in the US.
- Businesses applying must be organized for profit.
- The business should have a maximum of 500 employees.
- More than 50% of the business must be owned and controlled by one or more people who are citizens or permanent resident aliens of the US.
- Phase I awardees who have received several awards in the past are expected to meet the benchmark requirements for advancement towards commercialization.
Military Entrepreneur Challenge
The Military Entrepreneur Challenge (MEC) is an event designed by the Second Service Foundation to honor veterans and military members for their service to the country and assist them with comprehensive resources that can help them build their businesses.
It is believed that the service members have done their first service in uniform, and are now looking to do a second service through a business enterprise that will benefit their communities.
The goal is to motivate, enlighten, and assist veterans, military spouses, and Gold Star families as they strive to build their enterprise.
The MEC is a three-part event that encompasses a speed coaching session, a private pitch session to a judging panel, and lastly, a chance to propose business ideas to a live audience for a chance to win a nice business grant.
Application Process
To apply for the MEC event for a chance to win a business grant, follow the process below:
1. Register for the event: The first step is to register online for Speed Coaching at the Military Entrepreneur Challenge to retain your spot. You are required to attend speed coaching to qualify for the pitch competition.
2. Create a business one-pager: After registering for the MEC event, the next step is to come up with a business one-pager using the Second Service Foundation’s business one-pager template. Once you’re done creating it, submit it.
This will be used during the first finalist selection by Second Service Foundation staff, and it will be submitted to the judging panel during the MEC event.
3. Apply for Pitch Competition: Next, find an event and apply for a chance to compete in the pitch competition. Your application and business one pager will be assessed by a review panel, after which, the semi-finalists will be announced.
Please note that applications open at least thirty days before each event. Ensure to monitor the MEC page for updates.
4. Prepare your business proposal: Once you have been confirmed as a semi-finalist (through email), the next step is to get ready to propose your business idea in a way that impresses the judges during the first round so you can be picked for the challenge round. Three finalists will be picked for the final pitch competition.
5. Pitch to a live audience: The three finalists will be announced on stage and will have to pitch again to a live audience, who then votes for their favourite, and a winner is announced.
Amber Grant
Another fantastic grant that you can apply for is the Amber Grant, a program designed to honour the memory of a distinguished l young woman, Amber Wigdahl, who passed at the age of 19 before achieving her business goals.
It was launched by WomensNet, and it offers a minimum of $30,000 every month to various businesses. The organization offers these grants in different forms including Monthly Startup Grants, Monthly Amber Grants, Business Category Grants, and $25,000 Year End Grants.
How to Apply
To apply for any of the grants that WomensNet offers, visit their website and fill out a simple form that requires information about you, your business, and how you intend to use the money. Grant winners are usually announced by the 23rd of the following month.
The National Association for the Self-Employed (NASE) Growth Grants Program
Launched in 2006, NASE is a grant program that offers up to $5,000 in funding to small businesses for a particular need. It is meant to help business owners achieve their business goals without incurring heavy debts or expending their savings.
The grant can be used to secure equipment, market/advertise, employ more hands, and so on.
The non-profit organization award grants at its sole discretion, without considering applicant’s age, race, sex, religion, nationality, or disability.
Grant applications are assessed once every three months, using the following schedule:
- Applications submitted in January, February and March will be assessed in April.
- Applications submitted in April, May and June will be assessed in July.
- Applications submitted in July, August and September will be assessed in October.
- Applications submitted in October, November and December will be assessed in January of the following year.
Eligibility Requirements
1. The following members are allowed to apply right away:
- Annual Members.
- Veteran Members.
- Silver Members (paying every year).
- Gold Members.
2. The following members have to wait till after 90 days of membership to apply:
- Monthly Members.
- Silver Members (paying every month).
How to Apply
If you are eligible to apply, all you have to do is to log on NASE’s official website and follow the instructions in the “Get Started” section at the bottom of the page.
To Round off:
Various small business grants exist in different sectors and come in different forms, ensure to do as much research as possible so you can find one that can help your business.
To reiterate , if you find that you qualify for the ones listed above, make sure you Apply for these small business grants in the US now!
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