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State and Local Grants for Businesses

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State and Local Grants for Businesses

Starting a business or expanding an existing one can be a costly venture. However, various organizations and governments provide grants to businesses in need of financial support. In this article, we have discussed some of the different types of grants available to businesses, from formula grants offered by state and local governments to contests and initiatives run by non-federal entities.

Top State and Local Grants for Businesses

There are several grants offered by state and local governments for businesses. Here are some of them:

Formula Grants: These grants are given out by the federal, state, and local governments to pre-selected recipients. They are not competitive and to apply, you need to meet certain census criteria. For example, the Nutrition Services Incentive Program is a formula grant.

Research Grants: If you’re looking for grant funding from local governments for your research project, keep in mind that these grants often come with overhead expenses. Some health-related projects might have trouble getting funded due to their high overhead costs.

Grants from Non-Federal Entities

In addition to state and local grants, there are many programs offered by non-government organizations that provide grants to businesses. Let’s take a look at some:

Nav Business Grant Contest: If you’re a small business, the Nav Business Grant Contest is a great opportunity for you. The contest happens quarterly and the winners receive a $10,000 grand prize and a $5,000 runner-up prize.

Visa Everywhere Initiative: The Visa Everywhere Initiative is a global grant program that started in the U.S. in 2015. So far, 8,500 startups have participated and raised over $16 billion in grant funding. The program offers prizes worth over $500,000, with the grand prize being $100,000.

Idea Cafe Small Business Grant Funding: If you’re a woman entrepreneur who wants to start or grow your business, the Idea Cafe Small Business Grant Funding could be for you. You could receive a $1,000 grant, along with a $500 advertising credit if you’re one of the three finalists.

National Association for the Self-Employed (NASE) growth grants: The NASE is a nonprofit organization that offers growth grants to its members. These grants can be up to $4,000 and applications are reviewed quarterly. To apply, you need to be a member in good standing. The NASE has given out nearly $1,000,000 in grants since 2006.

FedEx Support Small Business Grant Contest: If you have a small for-profit business that has been selling a product for at least six months and has 99 employees or less, you could be eligible for the FedEx Support Small Business Grant Contest. You also need to have a shipping need to qualify for the grant.

Queer to Stay Initiative: The Queer to Stay Initiative is a grant program created by The Human Rights Campaign and SHOWTIME® to support small businesses that serve the LGBTQ+ community. The program helps at least 25 businesses by providing financial assistance.

SoGal Black Founder Startup Grant: SoGal, a social media company for millennial women of color, is offering $10,000 and $5,000 cash grants to black women entrepreneurs. The grant recipient needs to seek investor financing to grow their business.

Patagonia Corporate Grant: The Patagonia Corporate Grant provides financial support to Business environmental organizations. The grant size can range from $5,000 to $20,000 depending on the grant program you apply to.

Conclusion:

In conclusion, there are many opportunities for businesses to receive grant funding to help them start, grow, or expand. It’s important to research and understand the requirements and eligibility criteria for each grant program to ensure that you can successfully apply. Additionally, be mindful of the overhead costs associated with grants, particularly for research-related projects.

What is a formula grant?

A formula grant is a type of grant that is available from the federal, state, and local government levels. These grants are given to pre-determined recipients and the criteria to qualify is usually based on census data.

Who is eligible to apply for research grants?

Eligibility for research grants can vary, but many grants require that the applicant be involved in health-related research. It’s important to read the funding announcement to understand the requirements for each specific grant program.

What is the Visa Everywhere Initiative?

The Visa Everywhere Initiative is a global grant program that was first launched in the U.S. in 2015. The program offers prizes to startups worth over $500,000, with the overall winner receiving $100,000. To date, 8,500 startups have participated in the program and have collectively raised more than $16 billion in grant funding.

Who is eligible for the Idea Cafe Small Business Grant Funding?

The Idea Cafe Small Business Grant Funding is specifically designed for women entrepreneurs who want to start or already own a business.

What is the National Association for the Self-Employed (NASE) growth grants?

The National Association for the Self-Employed (NASE) is a non-profit organization that offers growth grants to its members. The grants can be up to $4,000 and are reviewed quarterly. To be eligible for a grant, members must be in good standing

What is the FedEx Support Small Business Grant Contest?

The FedEx Support Small Business Grant Contest is open to for-profit small businesses that have been selling a product for at least six months and have 99 employees or less. The businesses must also have a shipping need to qualify for the grant.

Who is eligible for the Queer to Stay Initiative?

The Queer to Stay Initiative is a grant program created by The Human Rights Campaign and SHOWTIME® to provide financial support to small businesses that serve the LGBTQ+ community

What is the SoGal Black Founder Startup Grant?

The SoGal Black Founder Startup Grant is a $10,000 and $5,000 cash grant offered by SoGal, a social media company geared towards millennial women of color, to black women entrepreneurs.

What is the Patagonia Corporate Grant?

The Patagonia Corporate Grant provides financial support to environmental organizations. The grant size typically ranges between $5,000 and $20,000 depending on the grant program you apply to.

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