The Paycheck Protection Program officially ended May 31, 2021.
Small-business grants provide free money for startups and existing businesses, including those impacted by the coronavirus pandemic.
It can take time and effort to research and apply for funding. To help you start, here’s a list of federal, state and private small-business grants and resources.
Coronavirus small-business grants
The U.S. Small Business Administration introduced new coronavirus small-business grant programs as part of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act:
- Shuttered Venue Operators
- Targeted Economic Injury Disaster Loan Advance
- Restaurant Revitalization Fund
- MORE: Coronavirus relief for small-businesses: https://www.nerdwallet.com/blog/small-business/coronavirus-relief/
Federal small-business grants
Government agencies are among the biggest distributors of business grants, supporting a range of enterprises from environmental conservation to child care services. Applying may seem intimidating, but federal grants are great opportunities for small-business owners looking to grow.
- Small Business Innovation Research and Small Business Technology Transfer programs
State and regional small-business grants
Economic Development Administration: This U.S. Department of Commerce agency provides grants, resources and technical assistance to communities to support economic growth and encourage entrepreneurship and innovation.
Each state’s agency helps businesses find financing (including state or regional grants), secure locations and recruit employees. You can search the economic development directory for regional offices and local resources.
Small Business Development Centers: Your local SBDC provides support for small businesses and aspiring entrepreneurs. They’re often associated with local universities or the state’s economic development agency, and many can help connect business owners with financing opportunities, as well as counseling, training and technical assistance.
Corporate small-business grants
Many corporations and large companies have a philanthropic component that includes small-business grants. While some provide grants only to nonprofits servicing specific industries, some give to for-profit companies.
- FedEx Small Business Grant Contest
- National Association for the Self-Employed
Specialty small-business grants
To help spread entrepreneurial success across demographics, many organizations focus their funding efforts on specific communities.
Visit www.Nerdwallet.com for more lists of:
- Small-business grants for women.
- Small-business grants for veterans.
- Small-business grants for minorities.