When you’ve got a small business, figuring out how to get grant money can seem like a bit of a mystery. The process can sometimes even feel daunting. Yet, there are millions of dollars in grant money available to people just like you. So how do all those small business entrepreneurs have time to find grant money and still run their business?
Sometimes they just have a knack for sorting through the piles of virtual paper, while others utilize a company, like ClaimYourAid.com, for help. Below is a primer for those of you just getting started.
Finding Small Business Grant Money
This may sound simplistic, but the truth is getting grant money for your small business really comes down to finding the right grant and applying for it!
There are literally hundreds of grants out there waiting for small business owners to apply. The application process can be time-consuming, but there are four basic steps to get on your way to becoming part of the community of small businesses lucky enough to receive a grant.
4 Things You Can Do
- Find a grant that fits your business. The free government site Grants.gov is a great place to start, you can check with your local small business development center, or even set up a free consultation with one of the members on the ClaimYourAid.com team.
- Put together a grant proposal to apply. You will need to pull together all the materials that are required in the application, and be sure to check for any deadlines to make sure you get your application in before it’s too late. There are professional grant writers out there who can help with this sort of thing!
- Send in your application and wait for an answer.
- If you are chosen as a grant recipient, make sure you follow any stipulations for using the money — otherwise you might be asked to pay it back, plus penalties!
What Kinds of Small Business Grants Are There?
With hundreds of billions of dollars out there in grant funding for small businesses, you can imagine that most have very specific qualifications regarding who can and cannot apply. So the first step is always to make sure the grant you are considering fits your business. For example, the IFundWomen COVID-19 Relief Fund is a grant that’s only for female entrepreneurs. The Doordash Restaurant Disaster Relief Fund, on the other hand, is just for restaurant owners.
These two grants make it a little easier by putting the type of business owner who can apply right in the name. It’s also worth noting that they carry additional stipulations — which is common in the grant funding community. After all, if they’re giving out free money, they want to make sure it will actually help the economy and the public interest.
Where Can a Small Business Get Grant Money?
Part of getting a small business grant is knowing where to look for the free money. Here are some places to find grants for small businesses.
- Federal governments
- Local governments
- Non-profits and foundations
Curious about other options out there for your small business? Let the ClaimYourAid team know your questions!
Click here to schedule your free consultation with a member of the ClaimYourAid team to find out if your business qualifies for government grants, credits, or refunds.