Finding grants to start or grow your business takes a little groundwork. Researching different opportunities is a good place to start. If your application is a good fit, awards can range in all different sizes.
You’ll find local, state, and federal funding, including Small Business Association (SBA) grants and funding from universities, corporations, private groups, and charities. Why give away grants? Most grantors want to create jobs, stimulate growth, serve communities, or fill unmet needs.
Applying for grants takes time, but the potential rewards can make it worth the effort. You don’t have to repay grants or give up equity in your business. However, you’re responsible for taxes, and grantors may restrict how you spend, as some require ongoing reporting and audits.
Small business help from on high
“Are not two sparrows sold for a penny? Yet not one will fall to the ground outside your Father’s care.” – Matthew 10:29-31 (NIV)
Today’s business climate can present strong headwinds for start-ups trying to get off the ground and small businesses seeking altitude. However, winds can work in your favor when you understand aerodynamics. Most pilots take off flying against the wind. Oncoming force on a plane’s wings pushes them upward so planes become airborne faster at lower speeds using less fuel.
When you navigate within God’s natural laws and trust in His providence, even headwinds can give you a lift. And in any weather, He’s still in charge. After all, He created the skies, heavens, Earth, and every creature. He rules – moment by moment – over them all (Job 38:31-35). God cares about sparrows. Whether your fledgling business gets off the ground and struggles or soars, you’re worth more than many sparrows to Him (Matthew 10:31).
Applying for grants to start a business
Grant applications for small businesses vary. Some funders require a letter of intent before greenlighting a grant proposal. Large grantors may have complex administrative and legal requirements, while smaller private organizations sometimes have simpler application processes.