Long Beach Small Business Grants – No matter what type of small business you have, there are grants to help your business grow. Read on for details on 21 grant options and databases.
Small business grants offer funding to grow your business in a variety of ways. In many cases, you can use it for grants such as operations, marketing, or expanding your team. Before you can start applying, it’s important to determine which one you may qualify for.
Long Beach Small Business Grants
In this article, we will discuss the basics of grants and give tips on how to take advantage of them.
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Small business grants are seed money given to entrepreneurs to start their business. Grant money is considered “in-kind” and is not required to be repaid. Sometimes you may have to pay taxes on the amount you receive, so take this into account and talk to a tax professional.
Tip: Search grant databases like GrantWatch to find grants available in your field. GrantWatch is an online hub for more than 26,000 grants in the US and Canada, where you can easily browse a variety of funding opportunities by filtering your specifics.
A loan is what you owe to a lender who lends you money. In contrast, a grant is a “gift” that cannot be repaid.
You should apply for grants and loans, but a loan application is based on your ability to pay, while a grant application is based on the terms of the grant.
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There are different types of grants available for small business owners and they fall into four main categories. Your eligibility for these grants depends on your products and services, your business and your job role.
There are many grants available for students. Get funding from the following sources to help your business. These grants were available at the time of publication and may not be available now.
The US Department of Health and Human Resources created Grants.gov in 2002. An e-government program administered by the Office of Management and Budget. The program provides resources and assistance to grant seekers to find and receive funding.
The site allows you to search for federal grants and check your eligibility before applying. You can track your grant applications after you submit them.
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Although some grants have conditions such as industry, business type, size and location, your local Chamber of Commerce can connect you with grants that fit your situation. Their team can also provide you with small business financing services, advice and resources.
The Small Business Innovation Research (SBIR) program is a competitive grant program for small businesses. The program helps entrepreneurs finance research and development to support scientific and technological innovation.
A solid business plan is a must before applying. A plan clarifies the direction of your business and how it can benefit your community.
Small business technology transfer programs are similar to SBIRs, but focus on the technology sector. This grant is awarded to entrepreneurs in the technology sector.
Black Business Grants
FedEx is holding a small business grant competition to fund ambitious entrepreneurs. The competition is highly competitive, with nearly 18,000 applicants competing for the 10th annual grant in 2022.
This grant is open to small business models with a “story worth telling”, so if you want to apply, please identify the uniqueness of your business.
The National Association for the Advancement of Independent Business (NASE) was established in 2006. Over the years, NASE has awarded nearly $1,000,000 in awards to entrepreneurs to help them grow their small businesses.
You must be a member of NASE to apply for this grant, but winners can receive up to $4,000 for marketing, team development and other needs.
Investment And Innovation Grants
Several small business grants are available only to women, and more grants are awarded each year to combat funding inequality.
WomensNet founded the Amber Grant Foundation in 1998. The goal is to help aspiring small business owners finance their dreams in honor of the grant’s namesake, Amber Wigdahl.
According to WomensNet, $10,000 is awarded the first week of each month to a woman who pursues entrepreneurial passions that range from “inventors to bakers.” It also gives $25,000 to a woman at the end of each year. .
The Living Dream Foundation annually distributes educational funds to women on behalf of Soroptimist International. This fund focuses on women survivors of sexual violence or other traumatic events.
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Live Your Dream Foundation provides programs and funding to help women build confidence, advance their careers and overcome challenges. While prize money ranges from $1,000 to $10,000, being an international finalist allows winners to receive a maximum of approximately $16,000.
This grant program is designed for environmentally friendly and sustainable women entrepreneurs around the world. Cartier offers three types of funding: Regional Awards, Diversity, Equity and Inclusion Awards, and Science and Technology Development Awards.
The American Association of University Women offers not only academic and research grants, but also career development grants for women looking to change careers or re-enter the workforce.
In addition to individual professional development grants, AAUW funds projects that encourage and empower young women.
Long Beach City College Foundation
Stacy’s Snacks is a female-led brand that launched Project Rise to help women in the food industry grow their businesses. The project offers additional funding for leadership and community and networking opportunities.
Designer Tory Burch has a foundation dedicated to nurturing and empowering female entrepreneurs in all walks of life.
In addition to financial aid, the scholarship program offers a one-year education model with a mentor tailored to your needs. The fund also offers a peer network of other buyers and a trip to Burch’s New York office.
Many small business grants celebrate this diversity by offering minority-specific grants to help you and your business grow.
Storefront Recovery Grants
According to its website, MBDA offers business centers across the country that provide “quality, technical assistance to minority-owned businesses.” Applicants can receive advice, guidance and support for funding and development.
Sephora is a makeup retailer that launched the Accelerate grant program to promote minority business leaders. Each fall, the program helps fund and mentor entrepreneurs in the beauty industry.
Although the awards for this grant are not monetary, they do include significant financial benefits. Clients can participate in a six-month boot camp and start selling their products directly with Sephora.
The National Supplier Development Council is the premier corporate membership organization offering business services and networking opportunities to connect with investors and grow your experience.
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While running the grant opportunities gambit, access to NMSDC’s list of small business owners and mentors is a top priority.
The SBA grant program offers several funding options – research and development, export and partnership awards. Grants vary by year and eligibility may vary for each grant offer.
The SBA also offers Veterans Affairs Center services to assist veterans with applications, financing, and other business needs.
The mission of the Second Service Foundation is to encourage and support military entrepreneurs. It funds businesses, shares educational content, provides mentoring and training, and conducts networking events.
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Since 2016, the foundation (formerly The StreetShares Foundation) has built a strong community of over 85,000 members and helped over 5,000 entrepreneurs build their businesses.
If you are a disabled veteran interested in employment, please apply for the VR&E Self-Employment Tracking Program. This program helps you coordinate services to build your business, starting with your business plan. Team members assist with small business operations, marketing and finance.
Although the program is not a cash grant, the resources provided to recipients are valuable for planning and expanding a business as a veteran.
You may need funding to take your business model to the next level. Consider these startup grants instead of taking out a business loan.
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The Build to Scale (B2S) program seeks to build regional economies by funding large-scale initiatives through various grant competitions. Total funding is in the millions, with $45 million in federal funds available for startups through 2022.
The NBA, WNBA and NBA G League have supported small businesses with $6 million in grants and services.
Small business grants come in many forms and have different requirements. Although there is nothing you can do to get a grant, there are some things you can do to increase your chances of being selected.
Nationwide grants can be attractive because of their large awards. Before spending hours preparing proposals for national grants, consider starting at the local level.
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Look for small grants offered by your city or town. Then break it down to the state and regional levels. These grants may not be as large as some of the grants offered nationwide, but you will be competing against a smaller pool and have a better chance of receiving financial aid.
If you find a grant that’s right for your business, do some digging and see who the previous winners are. Note any patterns you see between businesses.
Seeing what type of business is eligible for a specific grant can help you decide what you can do to increase your eligibility or chances, and ultimately save you time not applying.