Ohio small business grants can serve as a lifeline for eligible enterprises. This free funding provides business owners and entrepreneurs with a much-needed financial boost to grow their companies. But securing a small business grant is not as easy as you may think. The Ohio small business grant application can be complicated and time-consuming, but it must be completed on time and with precision. You can set your Buckeye small business up for success by following these three tips for starting your Ohio small business grant application.
- Research Available Ohio Small Business Grants
If you’re in the infancy stage of your research for an Ohio small business grant, you’ll want to learn about all of your funding options. The Small Business Administration (SBA) is a great place to start. The SBA provides limited grants to states, along with resources on how to access them. The SBA also connects Ohio entrepreneurs with local experts who can help them with their business financing needs. The Ohio Department of Development is another reliable place to consult when learning about available Ohio small business grants and loans.
- Review Grant Eligibility Requirements
Each Ohio small business grant has a list of criteria that organizations must meet in order to be considered. Eligibility requirements vary by grant, but generally, all applicant businesses must be in “good standing” with the Ohio Secretary of State. This means that the company has filed reports and taxes with the state and is authorized to operate.
By knowing and understanding the grant criteria, you’ll be able to assess right away if your specific organization qualifies or what it needs to do in order to be considered. It can take several weeks to fill out and submit a grant application for small businesses in Ohio, so it’s important to determine if a particular grant is best for your business at the onset.
- Prepare Required Documents for Grant Application
Once you’ve found the right grant for your small business, you’ll want to start preparing and organizing all the documents needed for the application.
The grant application may require your company’s tax documents, bank statements, business plan, and identification information. Make sure to have all of these files and documents clearly labeled, readily available, and accessible electronically. This will speed up the grant proposal process and improve the likelihood that you’ll meet the grant deadline.
Get Grant Help for Your Ohio Small Business
While no cakewalk, small business grant applications are worth the time and effort that business owners dedicate to them. The free money can help companies scale faster than ever before. Following these tips will make the grant application process easier and improve the likelihood that you’ll be approved. If this process feels intimidating or you need help navigating small business funding options, contact the experts at Growth Capital today.