How to Get Free Money Grants for Business
A business entrepreneur needs capital to run his or her business properly. The business owner can use the capital for tasks such as paying employees, adding technology and furniture to the business, or conducting side ventures with other businesses. Free money grants can help a business entrepreneur to get on his or her feet so the business can soar. The following are three grants for which a business entrepreneur can apply:
The Amber Grant for Women
The Amber Foundation provides free money grants to women who want to start businesses. The grant is small, and it ranges from $500 to $1,000. Women who are starting home-based businesses can use the funds to perform tasks such as upgrading their equipment or purchasing computers. The application calls for a $7 application fee. The female entrepreneur must answer questions about why she would like to be self-employed and what she plans to do with the grant money if the organization awards it to her. The applicant is allowed to enter additional information if she has something to add to her other statements. The best way to win a grant is to have a firm business plan in mind and to be as descriptive as possible.
NASE Self-Employed Growth Grants
The National Association for the Self-Employed provides generous grants to business owners who have a specific need. The business owner can use the grant money to purchase new equipment for the building or to advertise or market products and services. Additionally, the business owner can use the funds for training materials. The organization provides free money grants of up to $5,000 for the new business owner to expand his or her business. The application process is ongoing, and the business owner can apply online through the NASE website.
Small Business Association
The Small Business Association is an organization that helps small business entrepreneurs gain access to a wide variety of free money grants. The organization leads people toward those funds so that they can apply for help. To obtain assistance from the SBA, the applicant should have the intention to run a small business. The person can also be currently running a small business. The SBA defines a small business as a business that does not have more than 250 categories associated with it. Additionally, a small business will have less than $7 million in total revenue.
The SBA does not directly issue the grants. Instead, it leads qualified applicants to the application process and explains the benefits of each grant. Each grant has specific criteria that the applicant must meet to qualify. Some grants are for people with disabilities. Other grants are for people within a minority class. Some grants are gender specific. Additionally, some grants are open to business owners regardless of any other circumstances. A new business owner will want to apply for as many grants as possible. Many businesses are trying to get their feet off the ground by applying for grants. Therefore, the free money grants market is competitive.