Grants are sometimes overlooked but can be a fantastic way to generate funding for your small business. There are a variety of grants offered on a national level and state levels, some through government agencies and others through private corporations or non-profits.
Doing the research and seeking local expertise can help you find out which grants are most appropriate for your business and how to best get one awarded to you.
Where to Start?
To learn about available grants, a good place to start is the Small Business Administration. The SBA works with organizations to offer grants specifically for companies involved in research and development or exportation. On a federal level, grants are available to nonprofits, educational organizations, and state and local governments. They can guide you to local small business development centers and inform you about what grants are available that may be a good fit for your business.
There are many resources that can help educate you about how to fund your business and how to get your company on the road to success. Three of the best resources in Ohio are listed below:
- Small Business Development Centers (SBDC)
- The Ohio Development Services Center
- The Economic Development Administration
The Small Business Development Center (SBDC) currently has locations in Cleveland, Columbus and Athens to assist you in the process of finding and getting a grant to start your business.
The Ohio Development Services Agency offers a complete listing of all the grants available through the state of Ohio, as well as which ones are accepting applications at that time.
The Economic Development Administration offers information on revolving loan fund grantees in various Ohio cities and counties.
All of these organizations also provide information to help you start your business in Ohio, including other funding and loan options, referrals and assistance in all the steps to get your business off the ground.
Grant Options for Special Groups
There are a couple of grant options for special groups like veterans and women-owned businesses. To discover more about these options, visit your local veteran’s or women’s business centers.
- The StreetShares Foundation – Offers $10,000 in three monthly awards. Veterans, reserve or active-duty members, and military-spouse small-business owners are eligible to apply.
- Warrior Rising – a non-profit that offers grants, advice and more to entrepreneurial vets.
For Women Business Owners
- Eileen Fisher Women-Owned Business Grant – Clothing designer Eileen Fisher offers up to $100,000 each year to 10 women who have been in business for at least 3 years, are 51% owned and run by women and make less than $1 million annually.
- Amber Grant – This grant awards $2000 each month of the year to women-owned businesses in the U.S. and Canada. At the end of the year, one of the 12 recipients is awarded $25,000.
Other grant options include:
- The FedEx Small Business annual grant contest which awards 10 small businesses with grants of up to $25,000. Open to for-profit small businesses that have been open for 6 months or more.
- National Association for the Self-Employed is a nonprofit trade association that offers grants up to $4000 to small businesses. You must be an active member to apply.
- Visit Grants.gov to see what grants are available and appropriate for your business.
Growth Capital can help you learn about the different funding options available to you.
Call us today at (216) 592-2332 or visit us online.