Business Grants for New Business
If you have a new business or are contemplating starting one, consider applying to foundations or the government for grant funding to help you get started. Do your homework carefully, because many grant makers have very specific guidelines as to the kinds of projects they will fund and who may apply.
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Application Process
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Make sure you do your homework to find grant makers who have programs that dovetail with your mission, and tailor your application accordingly. Some foundations encourage grant seekers to submit preliminary applications to allow all parties to become acquainted. Take this opportunity to introduce yourself to key program executives. Many funding organizations prefer to give grants to businesses for civic or philanthropic programs and not for infrastructure. An example of this is the W.K. Kellogg Foundation's Civic Engagement grant.
Finding Sources
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Many grant makers are nonprofit organizations that are registered with state and federal agencies. This means that some of their information is available to the public. Check databases of grant sources, which are often organized into useful categories like amount of grant awards, target grant recipients and application deadlines. Search Grants.gov for sources of federal money and USA.gov if your business is a nonprofit. Search Foundationcenter.org to find private foundations.
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Application Process
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When you have a clear picture of what your objectives are, and when you have targeted a source that may help you meet them, complete the application, paying attention to deadlines. Grant makers will often require a business plan after your grant application is accepted, so have one ready prior to submitting your proposal. Eligibility varies greatly across organizations. Read all guidelines and instructions carefully.
Consultations
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To find federal grants for existing businesses, use local or economic development agencies like Ecodevdirectory.com. Some of these organizations will provide your business with personalized consultations regarding the grants you are interested in.
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