To say that competing in today’s market is hard work is an understatement. Small business owners are all too familiar with the challenge of juggling multiple tasks and roles. Aside from your time and energy, you also need financial resources to help your business reach its full potential.

Small businesses can benefit greatly from receiving a financial leg up. It doesn’t just mean getting to keep your doors open for another day. Having the right resources can lead to many opportunities, from innovation to expansion. 

In celebration of Small Business Saturday, we’ve created a list of key financial grants you can consider pursuing to fund the next chapter of your business story.

Financial Grants for Small Businesses

America’s Seed Fund

America’s Seed Fund was created by the U.S. Small Business Administration (SBA) to support innovations through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. On average, the non-dilutive funding has helped over 4,000 small businesses and startups a year, enabling them to work on forward-thinking, breakthrough technologies from concept to commercialization. The fund happens in three main phases: Proof of Concept, Technology Development, and Commercialization.

Who can join?

You’re eligible to apply for the Seed Fund if you meet the following criteria:

• For-profit business based in the United States
• Fewer than 500 employees
• Owned and controlled by U.S. citizens or permanent residents

Find more details and the full eligibility requirements here.

IFundWomen Universal Grant Application

IFundWomen is an online platform for female entrepreneurs and women-led businesses. It provides access to support in the form of the following:

• Online fundraising
• Access to small business grants from corporate partners
• Business coaching and networking

By providing holistic support, the platform aims to spark confidence in women-led enterprises, enable professional and personal development, and drive growth. 

IFundWomen recognizes the funding gap for women-owned businesses. This gap makes it difficult for female entrepreneurs to launch their businesses and even forces them to go into debt just to get their venture off the ground. The IFundWomen Universal Grant was created to help address these funding barriers.

The Universal Grant offers debt-free funding to female business owners. Eligible businesses can join by filling out the Universal Grant Application on IFundWomen’s website. These grant applicants are then included in the database. Whenever the IFundWomen team partners with a sponsor or a brand, they review the applicants in the database and match them with the relevant funding program. Examples of funding programs include the IFundWomen • BOTOX® Cosmetic Grant Program, which awarded 20 women-owned businesses $25k in grants and business coaching and mentorship.

Who can join?

Since it’s a universal application, the mechanics vary depending on the specific criteria of the sponsored grants. However, applicants must be owners or entrepreneurs of women-led businesses. They must also fill out the application form on IFundWomen’s website.

Environmental Protection Agency (EPA) Grants

Environmental Protection Agency Grants or EPA Grants support entities that are focused on environmental innovation and sustainability. Annually EPA awards an average of $4 billion in funding through various grants to eligible state and local governments, tribes, universities, non-profits, and businesses.

Who can join?

Most may think that only the non-profit and government sectors are eligible recipients of EPA Grants. However, small business owners may also qualify as long as they fall under the umbrella of environmental and public health initiatives. Examples of such businesses include renewable energy companies, eco-friendly technology firms, and environmental consulting firms.

All applicants to EPA grants must:  

• Register in SAM.gov and obtain a Unique Entity ID.
• Register on Grants.gov, which is a requirement to apply for most EPA grant opportunities.
• Fit the eligibility criteria detailed in the Notice of Funding Opportunity (NOFO) for each specific grant.

Amber Grant for Women

WomensNet founded the Amber Grant for Women in 1998. As the name suggests, it offers financial support to women-owned businesses. The Amber Grant awards $10k to three women entrepreneurs every month. Additionally, WomensNet selects three of the 36 monthly recipients to receive the annual $25,000 Amber Grants. The Amber Grant for Women has awarded funding to women-led businesses across various industries, from creative arts and education to STEM and hospitality.

Who can join?

The applicant must:

• Be a woman (at least 18 years old)
• Have a business that is 50% women-owned
• Have a business that operates in the U.S. or Canada

To apply for an Amber Grant, female entrepreneurs can simply go to the WomensNet website, fill out a quick form to share initial details and tell the story of their business, and pay the $15 application fee. 

The above are just some of the grants that your business may be eligible for. To find more grant programs for U.S.-based businesses, visit CO by the U.S. Chamber of Commerce. 

Funding the future

In conclusion, small businesses have a significant role in shaping any economy. A business does not just financially benefit the owner or founder. It also creates jobs for the community, strengthens local bonds, and, of course, drives local economic development. Together, small businesses account for 43.5% of U.S. GDP, making it a vital part of the country’s economic landscape.

Access to funding through various grants is an essential tool that can empower entrepreneurs to overcome financial barriers. These grants enable business owners to start and operate businesses without the burden of debts or high interest rates.

By applying and receiving these grants, you can write the next chapter of your business journey. You will have the financial support you need to take your business to the next level. And, in turn, have the opportunity to contribute to the economic activity in the areas you serve, creating jobs, driving innovation, and fostering community development.