As the world grapples with the ongoing COVID-19 pandemic, small businesses have suffered the hardest hit. With lockdowns, plummeting sales and closures, many entrepreneurs have found it hard to keep their companies afloat. But there’s hope yet. In the United States, the government, as well as private organizations, are stepping up to offer financial assistance through small business grants. Here are some of the top small business 5K grants available for entrepreneurs in 2021.
1. Verizon Small Business Recovery Fund
Verizon has pledged $2.5 million in grants towards small businesses. The telecoms giant is awarding twelve $10,000 grants to businesses in Des Moines, Iowa, one of the hardest-hit regions during the pandemic. Applications are open from 9th June to 14th June 2021.
2. The National Association for the Self-Employed (NASE) Growth Grant
NASE is accepting applications for $4,000 grants for members. The organization is dedicated to supporting small business owners and the self-employed in their growth endeavours. To qualify for the grant, applicants must be NASE members for at least three months. Applications are open until the end of the year.
3. FedEx Small Business Grant
FedEx is taking small businesses to new heights with its $250K grant program. The competition is stiff, but winners can receive up to $50,000 in grants and $7,500 for services from FedEx Office. Applications for this grant are currently closed, but small business owners can set their sights for 2022.
4. Small Business Administration (SBA) Microloan
The SBA is offering microloans of up to $50,000 to small businesses nationwide in 2021. The loans, which have repayment terms of up to six years, can be used for working capital, inventory, equipment, and fixtures. Eligible borrowers must be in business for at least two years.
5. Small Business Grant Program from Local Sponsors
Many local sponsors are stepping up to offer grants for small businesses. For example, the Los Angeles County is offering $10,000 grants to businesses affected by COVID-19. Applications opened on December 1st, 2020, with a rolling application deadline.
In conclusion, small business grants are a beacon of hope for entrepreneurs struggling to make ends meet during the pandemic. While the competition for grants might be stiff, entrepreneurs should keep their eyes open for grants offered by both public and private organizations. As the world fightsback, small business owners should take advantage of any support they can get.
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