You may need funds to take your business model to the next level. Instead of taking out a business loan, consider these startup grants.
Economic Development Administration (EDA) Grants
In 2021, the Build to Scale (B2S) Program Notice of Funding Opportunity has made $38 million in federal funds open to startups. Plus, each year they have an updating funding method for entrepreneurs ready to grow their businesses. The B2S program accepts applications for two different competitions: Venture Challenge and Capital Challenge.
- Award amount: Varies
- Where to apply: For more information, visit their website.
GrantWatch
GrantWatch is an online hub for all grants in the United States and Canada. You’re able to browse various funding opportunities easily by filtering your specifications. GrantWatch has more than 26,000 grants, funding opportunities, awards, and contracts on its site.
- Award amount: Varies
- Where to apply: For more information, visit their website.
The State Business Incentives Database
The State Business Incentives Database offers a wide variety of funding opportunities across the United States. They currently have over 2,000 financial programs available, 537 being grants. To access programs, initiatives, and networking opportunities, you must be a member of the Council for Community and Economic Research (C2ER) team. As a regular research professional, it costs $345 annually. For teams of up to 10 people, it costs $1,055 annually.
- Award amount: Varies
- Where to apply: For more information, visit their website.
Small Business Development Centers (SBDCs)
The Small Business Development Centers‘ mission is to provide entrepreneurs with resources and tools to support their network nationwide. They help fund, teach, and mentor business owners that want it most. They offer loans, investment capital, disaster assistance, surety bonds, and grants. Most resources require various information and business standards.
- Award amount: Varies
- Where to apply: For more information, visit their website.
If you are a startup, have been in business for 12 months and has generated an annual income of $120K and need a small business loan, apply here