Grants for businesses

Who awards small business grants?

Grant money is awarded by various government-approved agencies (not the government itself), nonprofits, and even individual persons and businesses.

Money and grants can be found in the unlikeliest of places, so do your homework.

If you have an established relationship with vendors and banks then call them. Ask if they offer any grants and what the qualifications are. Most banks employ someone called a “Trust Officer,” a person in charge of the trust department. Their role is to manage the accounts for individuals involved in philanthropy and money-giving.

American Express’s Small Business Economic Impact Study found that two-thirds of every dollar spent at a small business ($0.67) stays within the local community. Most cities and towns have an economic development agency and it behooves them to promote small businesses and entrepreneurs so they’ll often have public funds available. If they don’t, call your governor’s office and ask about state-level agencies that offer grants.

These opportunities are unlikely Grants for businesses to be advertised, so put yourself out there and ask around.

How do I qualify for a grant?

Well, that depends on the grant. Some grants are awarded only to female entrepreneurs, others to minority-owned businesses, whereas others are awarded based on industry. There’s a multitude of grants available with varying qualifications, so there are sure to be some you qualify for.

When an organization or business decides to create a grant, they will set aside the funds and determine the necessary qualifications and application process.