Small businesses are facing a challenging time, and the COVID-19 pandemic has aggravated the financial difficulties that many enterprises face. However, there’s always light at the end of the tunnel, and grants can help reduce the burden of entrepreneurs. There are various grants available for small business owners, and in this article, we will discuss ten grants that small business owners can apply for today.
1. The Small Business Administration (SBA) Economic Injury Disaster Loan: The SBA offers low-interest disaster loans to small businesses that have suffered substantial economic damages as a result of the pandemic. The EIDL loan can be used for debt relief, payroll, accounts payable, and other expenses that the business owner cannot pay due to the pandemic.
2. The Save Small Business Fund: The Save Small Business Fund is a grant fund launched by the U.S. Chamber of Commerce Foundation to help small businesses affected by the pandemic. The fund provides up to $5,000 for businesses that employ between three and twenty people.
3. The National Association for the Self-Employed (NASE) Growth Grants: The NASE offers small business grants for entrepreneurs looking to expand and grow their businesses. These grants can be used for website development, marketing, and technology upgrades, among other things.
4. FedEx Small Business Grant Contest: The FedEx Small Business Grant Contest is an annual grant competition that awards multiple prizes up to $50,000 to small businesses that show exceptional creativity, originality, and entrepreneurial spirit.
5. Facebook Small Business Grants Program: Facebook provides small businesses with cash grants and ad credits to help them deal with the economic impact of the pandemic. The grants can be used for rent and operational costs, ad credits, and some specialized training.
6. LISC Small Business Relief Grants: The Local Initiatives Support Corporation (LISC) provides small business grants to support those affected by the pandemic. The grants can be used to pay for rent, payroll, and other operating costs.
7. Amber Grants: The Amber Grants are awarded to the most promising and innovative women entrepreneurs, with a grant of up to $10,000. The Amber Grant is intended to help women entrepreneurs fulfill their entrepreneurial dreams.
8. Nav’s Small Business Grant: Nav, a financial tool provider for small businesses, offers $10,000 in grant funding to small businesses that demonstrate their innovation and commitment to their customers.
9. USDA Value-Added Producer Grant: The USDA Value-Added Producer Grant provides grants for small agricultural businesses for planning activities or working capital expenses associated with producing and marketing value-added agricultural products.
10. Mission Main Street Grants: The Mission Main Street Grants are awarded by Chase Bank to entrepreneurs who demonstrate exceptional dedication and commitment to their community. The grant award is worth up to $250,000.
In conclusion, grants can be essential to the survival of small businesses, especially during challenging times. The above grants are only a few examples of the many opportunities available to entrepreneurs. Small business owners should make use of these opportunities to secure financial assistance to help them build their businesses and survive economic downturns.
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