21 places to find business grants in 2024
Key takeaways
- Grants are a great option for small businesses looking for financial support to start or expand their operations without taking on debt
- Federal grants, made available through different branches of the U.S. government, provide funds to small businesses across multiple industries
- Regional and state-level grants may offer smaller amounts than federal grants but are often more specific to a given region’s needs
Small business grants are one of the most attractive financing options for business owners since they don’t need to be repaid and don’t require companies to take on debt. But grant programs tend to be highly competitive, with many of them targeted at underserved groups.
If you’re looking for small business grants for your company, there are a few places to find them. Below, we’ll explain where to secure federal, state and local grants for small businesses to get your company the funding it needs.
Federal grants for small businesses
Many government agencies provide small business grants to promote entrepreneurship, boost the economy and support innovation. Here are some places where you may find federal grants for small businesses.
1. Grants.gov
If you’re searching for federal funding for your organization, Grants.gov should be the first place you look. Run by the U.S. government, Grants.gov is home to an extensive database of grants from federal agencies, such as the U.S. Department of Agriculture, the Department of Commerce, and the Department of the Interior. Funding amounts vary by grant.
2. Small Business Technology Transfer
Powered by the U.S. Small Business Administration, the Small Business Technology Transfer provides financial support to small businesses that focus on research and development for science and technology. Some of the participating agencies in these programs include the U.S. Departments of Defense and Education.
The funds from the STTR grants are awarded in phases, with the first phase usually equaling between $50,000 and $250,000 for six months or a year of work. During the second phase, businesses will typically receive $750,000 for two years of work.
STTR does not fund phase three but rather recommends businesses use this time to pursue the commercialization objectives established in the first two phases. This phase may include STTR-funded R&D or production contracts intended for use with the U.S. government.
3. Small Business Innovation Research programs
Much like the STTR program, the Small Business Innovation Research grant is operated by the Small Business Administration and seeks to improve research and development for emerging technology among small businesses. Specifically, the SBIR aims to foster technology transfer through cooperative research and development between small businesses and research institutions.
4. Rural Business Development Grants
The United States Department of Agriculture operates the Rural Business Development Grant, which awards money to businesses that seek to develop operations in rural areas. The purpose of the grants is to provide technical assistance and training for small rural businesses. Multiple programs are made available, including Technical Assistance for Passenger Rural Transportation (RT) and the Rural Business Development Grant (RBDG).
5. Economic Development Administration Build to Scale Program
The U.S. Economic Development Association’s Build to Scale Program offers growing tech firms funding to help develop and grow their business. The program, operated by the EDA’s Office of Innovation and Entrepreneurship, is focused on next-generation technologies.
In 2023, the program gave out a total of $53 million across 60 organizations. The money was distributed across two tracks: the Venture Challenge for startups operating in regions needing technological growth and the Capital Challenge for helping to grow tech companies in areas with less equity funding available.
Regional and state small business grants
You may also be able to secure grants from regional or state government agencies. Funding opportunities will vary by location, but here are a few examples of where you might find local and state small business grants.
6. Small Business Development Centers
With chapters around the country, SBDCs are designed to help small businesses succeed by offering counseling, education, and other resources. You can reach out to your local SBDC and ask if they’re aware of any potential funding opportunities in your area.
7. City and county programs
Depending on where you live, your city or county may offer financing for home-grown small businesses. For example, Miami-Dade County’s Mom and Pop Small Business Grant helps growing businesses cover the costs of equipment, marketing, insurance, renovations and more.
8. Small Business Association’s State Trade Expansion Program
The Small Business Association operates a development opportunity known as the State Trade Expansion Program or STEP. The program provides financial awards to states and local governments to help small businesses with export development. More than $200 million has been awarded since STEP’s founding, and the program has helped small businesses across the country learn how to export their products, participate in foreign trade missions, equip their e-commerce operation for global sales, and more.
Private small business grants
Separate from government-sponsored business financing, some private companies also offer their own grants – both for marketing purposes and as a form of charitable giving. These are some of the most popular private small business grants.
9. FedEx Small Business Grant Contest
Each year, FedEx gives 10 small business owners $30,000 each as part of the company’s annual grant contest. On top of that, one veteran winner will receive an extra $20,000 from USAA Small Business Insurance. Companies can also win a people’s choice award for a $1,000 FedEx gift card.
10. Fast Break for Small Business Grants
Sponsored by LegalZoom in partnership with the NBA, WNBA and NBA G League, this grant program provides U.S. small business owners with $10,000 grants. Recipients also get complimentary LegalZoom services, such as attorney consultations and trademark applications.
11. National Association for the Self-Employed Growth Grants
NASE is a member organization that educates self-employed people about key business concepts, such as marketing, accounting and business strategy. As part of this mission, the group offers grants of up to $4,000 to help its members advance their businesses.
12. Incfile Entrepreneur Grant
Incfile, an online service for legal document preparation and filing, offers an Entrepreneur Grant targeted toward students and young people who are pursuing their education with a big idea in mind. Incfile gives out a $2,500 grant three times per year, which is intended to be put towards education expenses by the recipients.
13. The Small Business Growth Fund
Hello Alice, a platform for small business owners, operates a Small Business Growth Fund that disperses funds to small businesses across the country. Operated in partnership with the Global Entrepreneurship Network and funded by Etsy and Progressive, the fund offers capital in grants between $5,000 and $25,000 meant to be used to help small businesses accelerate their growth.
14. The Chamber of Commerce Small Business Growth Fund
The U.S. Chamber of Commerce operates America’s Top Small Businesses, an annual competition formerly known as the Dream Awards that sets out to honor the achievements of small businesses across the country and provide funding to further their growth.
This year’s top prize is a $25,000 grant, plus free U.S. Chamber of Commerce memberships for all finalists.
15. CESAR Workplace Grants Application
Cesar, a pet food company, offers a Workplace Grant through its Better Cities for Pets program for small businesses that embrace pet-friendly policies. The grants provide businesses with between $2,500 and $5,000 to improve amenities throughout their operation to better accommodate pets and establish pet-friendly policies.
16. Patagonia Corporate Grant Program
Patagonia offers businesses that help to address climate change and improve the environment access to the Patagonia Grant Program designed to expand impact and encourage growth and change. The company offers a number of programs which it awards throughout the year. Grants range from between $5,000 and $20,000.
17. National Black MBA Association Scale-Up Pitch Challenge
The National Black MBA Association offers the Scale Up Pitch Challenge, a grant that seeks to support wealth-building opportunities for its members. Since 2017, the organization has offered the grant to startups looking to grow their operation. The organization offers four awards ranging from $1,000 to $50,000 to competing businesses and helps organizations connect with potential investors.
18. Amber Grant
The Amber Grant, operated by WomensNet since 1998, awards grants to women-owned businesses across a number of different categories to help support their operations. The organization gives out at least $30,000 every month, plus two $25,000 year-end grants. The grants are awards for marketing, business operations, and a number of other purposes.
19. Venmo Small Business Grant
The Venmo Small Business Grant is a new grant that began in 2022. It awards a $10,000 grant, mentorship and promotion on Venmo social channels to 20 small business owners.
20. Merchant Maverick Opportunity Grants
Merchant Maverick Opportunity Grants are designed to help small businesses with issues obtaining traditional business funding. Merchant Maverick aims to create positive change for small businesses by providing education and support in every area that affects small business owners. In the past, grants have gone to Black female business owners, AAPI restaurant owners, Indigenous business owners and Portland-area startups. Grant money can be used for the following:
- Business space rent, utilities or renovation
- Payroll
- Repayment of business loans or taxes
- Business equipment
- Business marketing
- Business travel expenses
21. Verizon Small Business Digital Ready Grants
Verizon Small Business Digital Ready — created in 2021 — provides under-resourced small business owners with mentoring, education, peer networking and other tools to help them thrive in today’s digital economy. Recently, Verizon announced $500,000 in grant funding through Verizon Small Business Digital Ready. Verizon estimates that it has helped over 200,000 small businesses since 2021, with a goal to help 1 million small businesses by 2030.
Business grants for underserved communities
While there are lots of opportunities for businesses to receive funding, underserved communities like women-owned and minority-owned businesses consistently face more difficulties trying to access capital.
According to the Small Business Credit Survey by the Federal Reserve Banks, minority-owned businesses were significantly more likely to report challenges accessing capital. Likewise, those businesses were more likely to have to scale down operations as a result.
Several groups and underserved communities have challenges accessing capital but can gain access to grants designed specifically to serve them, including:
How to apply for a business grant
While each grant is different, many of them have similar application processes. Here’s what to expect when you apply for a small business grant.
- Before submitting any grant applications, think about what sets your company apart. Many grant programs are extremely competitive, so you’ll need to provide a compelling explanation for why your business deserves funding.
- If you’re applying for a federal grant, sign up with SAM.gov. Keep in mind that it can take up to 10 days to receive your UEI, so you’ll want to sign up at least a few weeks before any grant application deadlines.
- Once you have your UEI, register your organization with Grants.gov (again, if you’re applying for a federal grant). At this point, you can also create roles for other people within your business who will be helping with the grant application.
- Fill out your application. Depending on the grant, you may be required to submit a business plan, company history, revenue information, tax returns and W-9 forms. You might also need to share specific details about why you’re applying for the grant and how you plan to use the funds.
- Wait to hear back. Some grants accept applications on a rolling basis, while others have strict deadlines. In either case, the closing date should be listed on the application.
Resources for small businesses
Locating small business grants may be a top priority for business owners, but tapping into various resources such as mentorship, workshops and training is also beneficial.
SCORE
Backed by the SBA, SCORE is a nonprofit organization that guides entrepreneurs and small business owners through expert mentoring, workshops, webinars and other educational resources.
Small Business Development Centers
Small Business Development Centers (SBDCs) are valuable resources for entrepreneurs. These federally funded local centers offer free resources and services to new and established small businesses. Services include consulting and training to help small businesses grow, succeed and overcome challenges.
Chamber of Commerce
The Chamber of Commerce offers small businesses networking opportunities, advocacy and resources to encourage growth and expansion and connect with their communities.
Business grants alternatives
Securing a small business grant can be tricky. Since grants don’t need to be repaid, most are wildly competitive. Others have strict eligibility requirements, making it difficult to find one that’s a good match for your business.
As an alternative to grants, you can look into other financing options. On the positive side, these funding types are usually faster and easier to get than grants, but they will require you to take on debt.
- Small business loans. Allows startups and established businesses to secure capital for operational costs, inventory or equipment purchases and more. The principal plus interest is repaid over a set period.
- Business credit cards. Businesses get access to a revolving credit line that can be used to cover a variety of business expenses. Unlike a small business loan, interest is paid on the funds used rather than the whole amount.
- Business lines of credit. Similar to a business credit card, business lines of credit provide a credit line up to a certain limit that can be used to cover business expenses.
- SBA microloans. This loan can be used to cover business expenses under $50,000. They often require collateral and/or a personal guarantee, and interest rates fall between 8 percent and 13 percent.
- Peer-to-peer lending. Allows businesses to secure funding from individuals or companies that lend money directly to them through an online platform. Interest can be high with peer-to-peer lending, but it’s a great alternative when traditional financing isn’t an option.
- Crowdfunding. Lets you raise money for your business from friends, family, business acquaintances and even strangers. In exchange, you might offer equity or a reward (like company merchandise, exclusive products, or discounts).
Bottom line
It can be challenging for small businesses to secure capital. Many may consider financing, but this a risky option because it requires businesses to take on debt. But with federal, state, local or private small business grants, businesses can access non-repayable capital, making it one of the most low-risk, affordable ways to fund a business.
Frequently asked questions about business grants
You may also like
Can you get a small business loan after bankruptcy?
What are small business loans for veterans?
17 small business grants and resources for veterans
26 small business grants for minorities