How to Apply for a Grant to Start a New Business
Business grants are often available to help entrepreneurs start their new business. There are two major types of grants available to businesses: government grants and foundation grants. A government grant is a financial award from the government. A foundation grant is an award from a private organization.
Other People Are Reading
Instructions
-
How to Apply for a Grant to Start a New Business
-
1
Register with the government grants website. Access to this website database is free. Beware of websites asking for money to access government grants. The official website is http://www.grants.gov.
-
2
Register with the private foundations website. Foundation Center at http://www.foundationcenter.org is the #1 source for access to private foundation grants. However, access to this website will require a subscription fee. As of December 2009, this fee is $19.95 per month. Information on private foundations is also available at the public library. Specific grants are not often published or up to date. Therefore, you will have to use the private foundation directory to call and inquire about specific grants.
-
-
3
Search the databases for grants. The government grants website includes 26 different grant-making agencies. When searching the database, you can select a category that best describes your type of business and review applicable opportunities by selecting the "Search" tab. The Foundation Center database provides detailed information about more than 95,000 U.S. foundations and corporate donors and 1.7 million grants. Each entry will offer a grant description and the eligibility requirements.
-
4
Apply for a grant. There will be different instructions for each grant. Generally, if you are applying for a government grant, you can download the grant application package right from the website. Instructions on how to use the forms and what to submit with your application will be provided on the first page of the application. For foundation grants, you will mostly likely have to submit a grant proposal or statement of need. Specific instructions are given on the website. If you are applying based on information found through library research, call the organization to confirm the application procedure.
-
5
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.
-
1
Tips & Warnings
Government grant money normally goes to state and local governments or non-profit organizations. In order to receive a business grant from the government, there must be a public need for your business. For example, you are more likely to receive a government grant if your business provides affordable health care in a low-income area.
