How to Apply for New Business Grants
New business grants are available to help entrepreneurs start or expand their business. There are various types of grants available and two ways of obtaining these types of grants. A government grant is a financial award from the government. The money normally goes to state and local governments or non-profit organizations. A foundation grant is an award from a private organization. Most new business grants that do not qualify for government grants will have more success finding opportunities through private organizations.
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Instructions
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How to apply for New Business Grants
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Register with official grant websites. Many websites will try to charge a fee for access to government grants. Do not pay. Access to government grants is absolutely free. Visit grants.gov and complete your registration. Access to private foundation grants will require a fee, if you choose to use the website. If you visit Foundation Center at foundationcenter.org, there is a $19.95 per month fee for access to private foundation grants. If you do not want to pay the fee, you can begin your search for private foundation grants by visiting your local library. Most libraries will carry a directory of private foundations. Use the directory to call and inquire about specific grant opportunities. The process is timely, but a great alternative to paying a monthly fee.
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Search for grants. The government grants website is a database with 26 different grant-making agencies. You can select a category that best describes your type of business and search for opportunities. If you choose to continue your search for private grants through the Foundation Center website, the database provides detailed information about more than 95,000 U.S. foundations and corporate donors and 1.7 million grants. Each grant will offer a grant description and the eligibility requirements.
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Apply for your grant. Each grant maker will have different instructions. In general, if you are applying for a government grant, you can download the grant application package. Make sure your Abobe software is compatible with the grants.gov website. Instructions on how to use the forms and what to submit with your application will be on the downloaded application cover sheet. For foundation grants, you will mostly likely have to submit a grant proposal or statement of need. If you are using the website, the instructions will be given. If you are applying on your own through library research. Call the organization to confirm the application procedure.
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Track your application. When applying for a government grant, you can track your application by going online and logging into your account. For foundation grants, you will generally have to follow-up via email or phone.
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Tips & Warnings
Government grants are normally offered to a new business when there is a need for the type of service the business offers. For example, a state can issue grants to child care businesses operating an after-school program in low-income areas if there is a need for such programs. New business grants are often difficult to find. If you are having trouble finding funds for your new business, consider a business loan. The government offers great resources for businesses through the Small Business Administration at sba.gov.
