How to Apply for Grants to Open a Business
Opening a new business can be financially challenging. Unlike loans, grants are helpful because they don't have to be repaid. This is ideal for new businesses that must budget their start-up expenses. Unfortunately, not all businesses qualify for every grant opportunity. The process can be time consuming because it requires you to search for funding based on the goals and capabilities of your business. Through federal government websites, you can locate agencies with available grant opportunities to open a business.
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Instructions
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Visit Grant.gov. This is a catalog for new grants provided by agencies of the federal government. When searching, look for community service and rural or minority business grants, if applicable.
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Search the website for the Catalog of Federal Domestic Assistance for available grant opportunities. This service allows you to match your business category to full listings of federal programs. For instance, if your business qualifies for energy or education grants, search for funding under the Department of Energy or Department of Education programs on the website.
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Contact state and national professional associations related to your business. For example, if you are opening a new restaurant, contact the National Restaurant Association for grant opportunities.
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Apply for a DUNS number (data universal numbering system). Federal agencies require this when applying for grants because it serves as an unique identifier for your business. Obtain a number by visiting the Dunn and Bradstreet website at dnb.com.
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Hire a professional writer to compose your grant proposal, if needed. Hire a grant writer to ensure your proposal is professional, concise and clear. Hiring a professional to assist you may help your chances of being selected for grant funding.
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Download the application for each grant you wish you to apply. Be sure to include all necessary documentation before submitting your application and proposal. You may be asked to include corporate records from your secretary of state's office and financial records. Failure to provide the requested documents by the application deadline may disqualify your business from receiving funding.
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Tips & Warnings
Find out how to follow-up on your grant application. Each organization has different policies for feedback and follow-up. Make sure you know these rules before attempting to follow-up on your application.
Beware of Internet scams promising to provide grant information in exchange for money. Grant information can be found for free on official websites.
