The Best Small Business Grants To Get Free Money
We love giving our makers small business tips, especially when it means more money to help you achieve those monumental maker goals.
Imagine getting a lump sum of money in the form of a small business grant that you don't have to pay back!
Earlier this year, the US Government announced 10 billion dollars in grants going to small and minority-owned businesses.
This is a must-read for anyone interested in free money to grow their business and make their dreams come true.
Grant funding may seem difficult to get but it has so many advantages over a small business loan because you aren't required to pay it back.
There are several grants available for small business owners with different eligibility requirements. If you qualify, you could be on your way to expanding your business.
If you're excited about the idea of having extra funds to reach your target audience, enhance your product or service, or expand your business model, keep on reading!
fedex small business grant
This small business grant is open to any type of business as long as you have a FedEx account number and have been in business selling your product for at least six months.
The dates for the next contest are not yet announced, but the website covers all the details and past winners.
amber grant for women
The Amber Grant for Women was set up in 1998 with the goal of honoring Amber Wigdahl, who passed away at 19 years old without being able to realize her business dreams.
The grant has an easy application process that includes telling them all about the vision and goals you've set for your small business.
Founded by WomensNet, an organization for female entrepreneurs, they distribute $10,000 grants every month and a yearly $25,000 grant to two winners.
The monthly grants focus on different industries, including sustainability, hair care and products, wellness and fashion, and more.
The application asks for a description of the business and plans for how the money would be used, and costs $15 to apply. Read and apply here.
national association for the self-employed growth
The National Association for the Self-Employed Growth Grant gives away $4,000 grants year round that can be put towards marketing, advertising, hiring employees, expanding facilities and other business needs.
You must be a member to apply. In your application, they ask that you identify your business needs and plans to use the funds.
They offer quarterly grants, and tend to focus on marketing and advertising, but really small business growth is at the center of their heart.
For all the details, check out their website here. You'll find a complete timeline of when your application will be reviewed based on your submission date.
tory burch foundation fellows program
This is a great opportunity for a growing women-owned business!
The Tory Burch Foundation Fellows Program is a year-long program that includes a $5,000 grant.
Through the program, founders of early-stage companies are supported with virtual workshops, coaching sessions, and entry into a network of peer founders.
The program culminates with a company presentation and a trip to New York City.
Past recipients have included maker biz's Elle Vie Body Products and Loli Beauty.
They are accepting grant applications now for their 2023 program. The deadline is November 3, 2022.
Applicants must be female founders that are at least 21 years of age who own at least 51% of their business.
For additional information visit their website here.
small business readiness for resiliency program
Due to unforeseen natural disasters like hurricanes, the U.S. Chamber of Commerce Foundation and FedEx offers a program called the Small Business Readiness for Resiliency Program. The program helps businesses prepare for a potential disaster and gives a $5,000 grant to some businesses after they’ve been affected.
Business owners must make an Emergency Action Plan when applying for the grant. When a natural disaster occurs, businesses who have already submitted their applications are considered.
Hopefully, you won’t ever need to access this grant, but it's there in the event a natural disaster happens. Better to be safe than sorry!
state trade expansion program
Looking to expand into global markets, but lack funding? This one's for you!
The State Trade Expansion Program (STEP) is administered by the U.S. Small Business Administration. It helps small businesses cover the costs associated with entering and expanding into international global markets.
STEP has awarded 302 state grants to a total of $156 million, generating nearly $1.8 billion in exports. For more helpful information, click here. They offer an informational webinar that explains the STEP program.
If you receive a grant, tag us on social with #makesy so we can join you in celebrating this exciting milestone in your maker journey!