Very few people know that there are large amounts of grants out there for small businesses and startups. Even fewer people actually take the time to research and apply for them!
In this article Bright Apps presents tips on how to find business grants, what type of companies can qualify, and how to apply. This guide is meant for small business startups who want a head start on their funding needs. There are over $300 billion in government funds given away every year with an average of $30 billion going towards business grants. Here’s how you can get your hands on some of that cash for your new business!
Grants to Help Fund Startups
Here are some of our favorite grants this year. While there are tons of different grants available, some are only available in specific states or for specific businesses. So be sure to read the details about each grant to confirm if your business will qualify.
US Department of Agriculture (USDA) Grants
The USDA offers a variety of financial incentives for businesses and nonprofit organizations operating in rural areas. If you don’t qualify to receive any grant money, there are also several business loan options available at 0% interest rates from the USDA.
Minority Business Development Agency (MBDA)
The MBDA is a resource for minority-owned startups and businesses, allowing them to find grants, consulting, and other forms of assistance. The MBDA provides its services exclusively through its Minority Business Centers located across the U.S.
4.0 School Fellowship
Fellowships from 4.0 Schools are designed to help entrepreneurs who have a mission to improve education in the US. Your business could involve a school, technology tool, retail product, service, and more. Depending on where you’re at in your startup journey, you could be eligible for anywhere from $600 all the way up to $10,000.
How Do I Find More Grants Available for Businesses?
Nowadays, there are so many funding opportunities out there for new business owners, from digital businesses to brick-and-mortar ventures. We definitely understand that it can be difficult to find them if you aren’t sure where to look. Thankfully, there are some incredible resources online that make it easier for entrepreneurs anywhere to access all the information they need to be able to find and apply for new startup grants.
Startups aren’t the only ones who can benefit. As your business grows, there are many more grants available as well. Be sure to check the SBA and grants.gov for new and ongoing opportunities.
Some Important Business Tips for New Business Owners Seeking Grants
When you apply for a grant, you want to ensure your financial health is on track and that you’re using the right tools to stay organized. As a rule, you want to be able to maintain a healthy cash flow for your business. A robust platform like QuickBooks Online Advanced provides the features you need to simplify this process — starting with a dashboard you can customize to view your cash flow and revenue streams at a glance. This, in turn, ensures that you don’t miss important benchmarks that contribute to your bottom line and overall financial health.
Additionally, you’ll also need to provide a budget that explains how you intend to use the grant money. So, take a good look at what you really need and put together a budget. This could include everything from hiring freelancers to supplying your office with modems, routers, computers, etc. (websites like can help you find the best devices and gadgets for your money).
We hope that this article has been helpful in showing you how grants can be a valuable resource for small businesses looking to get started and where to find them. Whether your business is eligible or not, it’s always worth taking the time to do some research and see what’s out there.
In addition, be sure to stay on top of your other business aspects, even if you don’t necessarily need them yet. Things like cash flow, organization, etc. can be a big burden if you aren’t prepared.
About The Author
Brittany Fisher has spent more than 20 years as a CPA. She runs her own site, Financiallywell.info where she shares her knowledge about taxes, personal finance and general financial literacy hoping to help anyone who may benefit from it.
About Bright Apps LLC
Bright Apps LLC specializes in Quantum Technology Solutions, AI, Blockchain and custom development, end-to-end software solutions. With decades of experience in creating innovative technology and a group of highly skilled engineers, the company can work in any discipline as well as provide graphic, IT consulting and business development services. Bright Apps delivers experts in AWS, Azure, Google Cloud Platform, AI, Blockchain and quantum entropy security solutions.For more information, visit Bright Apps LLC.
The views and opinions expressed by this blog are those of the authors and do not necessarily reflect the official policy or position of Bright Apps LLC.