Starting a new business or start up is a challenging and stressful task. One of the biggest challenges is putting up a business is to look for capital or source of funds. While there are several sources of capital, nothing beats the thought of obtaining it without having the need to repay for it. That is very much possible through government grants and personal grants. Yes, you heard that right. You can now start a business without asking for a business loan.
However, there are some caveats that you need to consider if you want to apply for a government grant for your business. First, the flexibility of spending will be limited, unlike with business loans where you can spend the money from your own discretion. Secondly, qualifications for government grants are quite strict and keen. There are also a lot of individuals and organizations that are applying for government grants and just like you, they are hoping that they would be approved and qualified. That is why it so necessary to always give your best shot and put your best foot forward to stand out among other applicants.
Furthermore, there are misinformation and scams in government grants. These scammers use different websites to mislead the information for those who are applying for it. Hence, as an applicant, you must be wise and cautious in every website and person you are dealing with as you process your application.
There are several small businesses grants that the government is offering. Some of the top grants are the following:
- InnovativeHER Women Business Challenge
- FedEx Small Business Grant
- Small Business Innovation Research Program
- Rural Business Enterprise Grant
- Eileen Fisher Grant for Women
- Wells Fargo Community Investment Program
- Chase Mission Main Street Grant
- Visa Everywhere Initiative
- Lending Tree’s Small Business Grant Contest
- Small Business Technology Transfer Program