Spring is a time of renewal and growth, and we’re not just talking about our lawns and gardens! Now is the perfect time to be thinking about new ways that you might want to grow and change your business—that will likely require some funding. This month we’re outlining how to go about locating and securing funding for your non-profit enterprise. Since we know that about 10% of non-profit funding comes from grants, we’re focusing there.
Even though we’re focusing on grants, it is important to note that some non-profit small businesses do actually qualify for certain microloans backed by the U.S. Small Business Administration. The best way to see if your non-profit qualifies is to work with a Community Development Financial Institution (CDFI).
How Do I Find Grants?
If you’ve read some of our previous blog posts about the U.S. Small Business Administration’s (SBA) 504 Loan Program or the best small business grants out there, you know that—more often than not—many current funding options are geared toward for profit businesses. It’s not that the money doesn’t exist for non-profit organizations, it’s just not as hot of a topic in business and finance circles. Never fear, though, there are some phenomenal resources here in Ohio to help you find a grant program that’s right for your business!
Ohio’s Office of Workforce Development
The Office of Workforce Development knows that non-profit businesses often struggle to find funding sources, and they want to help. They’ve created a one-stop-shop regarding all things funding and grants just for non-profit business owners! Here, you can—
- Find information about different funding streams you may be eligible for.
- Learn about how to search for grants and determine if a grant opportunity is a strong fit for your needs.
- Access informational sites specific to non-profit funding.
They’ve done the legwork and saved small business owners A LOT of time and energy!
The Grantsmanship Center
The Grantsmanship Center is an organization that helps non-profit entities understand the process behind finding and obtaining grant funding. They offer resources, training, and webinars on everything from grant writing to execution—if you want to know anything about working with grants, they can tell you. They even have state-specific resources—Ohio’s list is quite comprehensive and worth browsing!
Let Growth Capital Help with Your Grant Hunt!
While these resources are wonderful and will set you on the path to better understanding grant funding, the process of selecting a grant to apply for, writing a proposal, and then executing can be challenging for even the most experienced business owner. At Growth Capital, we’ve been in small business funding for over 40 years and want to use that experience to help you navigate this process. Contact us today and let’s chat about your options!