Wellness Grants For Small Business – The initial stages of starting a business are quite challenging to say the least. If the startup is a minority-owned company, the challenges seem to multiply. This is especially true when it comes to getting financing from lenders.
Some financial institutions offer small business loans, but if they don’t think your business plan will work, they won’t approve you for a loan.
Wellness Grants For Small Business
To avoid these challenges, small business owners can take advantage of grant opportunities to help raise their working capital from scratch.
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The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (SBTT) grants were created to allow small businesses to conduct research and development work for the federal government.
This competitively priced program encourages small businesses to see how much they can improve their technology development and research.
If your small business is in the early stages of working with a nonprofit research group to develop a breakthrough technology, this grant is a great way to get seed money.
Both SBIR and SBTT grants are offered by the U.S. Small Business Administration. The SBA has long supported grants for small and minority-owned businesses, so be sure to check their website to keep up with any new grants they offer.
[email protected] Grant Program
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The Comcast Rise Grant is a program created to give small businesses the resources and tools they need to survive the effects of the pandemic.
There are actually two different types of awards, depending on which aspect of the program you are applying for.
If you need cash flow, look to mutual funds. If you need technology and expert advice on how to use it, they offer a gift of Marketing and Technology Change Services.
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Any entrepreneur could use less business funding. The Comcast Rise Investment Fund awards $10,000 to small businesses nationwide.
So stay tuned and check back every year – you never know when your city will come back!
The price also includes state-of-the-art computer equipment and free internet, technical assistance and cyber security services for one year.
All of the above tools and resources can certainly help small businesses struggling to get a foothold.
Small Business Grant Winners
Rebuildtheblock is a corporate liaison that works tirelessly to provide funding opportunities for black-owned small businesses. Their Small Business Relief Fund aims to help businesses recover from the effects of COVID-19.
The RBT Small Business Assistance Fund runs on a three-month cycle, giving business owners four grant opportunities each year.
No grant amount has been set for this aid fund. Each of the fifteen recipients in each cycle receives a payout of money based on need and impact.
Also check out this article for more Pandemic Relief Grants: Is Your State Offering Back Business Grants?.
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Kinetic Business by Windstream offers grants of up to $2,500 to support black-owned small businesses. The grant also comes with free internet and business advice.
This grant is for a very specific demographic. To qualify, your business must be in one of these three locations:
If you receive a grant, your business must continue to meet these requirements for the duration of your one-year grant.
If you are a black small business owner and meet all of these eligibility requirements, you should definitely apply for this grant.
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To apply for this grant, you must be a NASE member. Once you have registered, you can complete a grant application and submit a business plan for consideration.
Applications are received throughout the year and reviewed quarterly. The board will review submitted applications and select recipients based on needs, potential and expected effect of the grant on your company.
The challenge, facilitated by the National Association of Black MBAs, allows members to obtain a variety of business funding and mentoring from successful investors.
Only NBMAA members are eligible to apply for this grant. Applicants must represent a business where at least one of the owners is black and the business must be in the early stages of business development.
For Small Businesses, Grants Can Offer Both Cash And Lifelong Relationships
As the name of the competition suggests, the Scale-Up Pitch Challenge revolves around the pitching process where contestants explain their business to a panel of judges.
Each company will be given three minutes to present their initial pitch, which must be accompanied by a PowerPoint presentation. The pitch segment was followed by a three-minute Q&A session with a panel of judges.
As the organization states on its website, the goal of the Scale-Up Pitch Challenge is to “help members create scalable businesses.” So if you decide to apply, be prepared to discuss your plans for scaling with the panel.
Before you apply, you must register with SAM and get a DUNS number. Then contact your district rural development office to apply for this grant.
Small Business Grants: Where To Find Them And How To Get Them
Nine years ago, FedEx created the Small Business Grant Contest as a way to give back to the community and support economic development across the United States.
The company also maintains a Small Business Resources page on their website, which is an entire section dedicated to helping small businesses stay competitive.
FedEx posts application information on their Small Business Resources page at the beginning of each year. Check back often to make sure you don’t miss anything!
The Asian Women Giving Circle is a group of successful Asian women entrepreneurs who want to be a source of encouragement and support for other Asian women running small businesses.
Top Small Business Grants For Black Women Entrepreneurs
To be eligible for this grant, the business must be managed by an Asian American woman. Companies must share the Giving Circle’s goal of using arts and culture to improve social and economic conditions for Asian American women and families.
This grant is awarded in the amount of $5000. Recipients who show exceptional promise are considered for an additional grant of $25,000.
The coalition also offers online resources and guidance to help struggling black-owned businesses recover from the financial impact of COVID-19 and other obstacles.
Speaking of resources, we have a whole page on resources for Black SMBs here: Black Trade Lines, Support and More.
Pace Small Business Grant
This year’s Sephora Accelerate grant focuses on women of color who are doing amazing things in the world of beauty and health.
First, applicants win a six-month, all-expenses-paid trip to a company’s “boot camp,” where they receive mentorship from industry leaders and attend workshops related to:
Upon completion of the program, grantees can present their products on Sephora store shelves worldwide.
Recipients also receive a small cash reward and the chance to get more funding depending on how well their product performs in the store.
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Google is doing their part to help new black small business owners succeed online by giving them a chance to win up to $100,000 in cash and extra help in the form of Google Ads and Google Cloud Credits.
The Black Founders Fund by Google for Startups is open to those who have participated in the Google for Startups program or have been nominated by someone who has.
In addition to the specific funding options described above, there are many websites designed to help you find small business grants and business development programs.
This website is a database frequently used by those listing and searching for federal grants. There are hundreds of grants and aid programs to apply for in the Grants.gov database.
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To make it easier to find one that fits your needs, find the Qualifications drop-down menu on the left side of the page and select the “Small business” field.
It is wise to check back periodically as this database is the primary source of information on grants offered by many local and federal government agencies.
This website will not give you specific grant opportunities, but it will help you learn how to apply for grants. You can also visit one of MBDA’s business centers for face-to-face help with your business.
They periodically offer grants to businesses that improve the economic conditions of Native American communities across the country. They award several scholarships each year.
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To date, the organization has awarded more than $43 million in grants that support development efforts in areas inhabited by tribes and Native Americans.
The Institute awards annual grants from $25,000 to $75,000. There are 20-35 grant opportunities each year.
It is important to keep checking their website for “Funding Opportunity Announcements”. This is where the institute lists many of its grants.
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Small Business Relief Fund 2.0
Of course, completing the application and following the guidelines outlined above may take some time and energy, and you are never guaranteed to receive an award.
But if you are selected as a grant recipient, imagine the opportunities this financial assistance can provide for your business.
Small business loans are available to give you a line of credit, but these often come with high interest rates, especially if your credit score isn’t the best.
As a minority business owner, your persistence and diligence in finding alternative financing can be what takes your business from survival to prosperity. In 2018, a grant program was launched through the [email protected] initiative to further improve physical and mental health, safety and quality of life for all faculty and staff. See summary from