The fund typically starts at around $150,000. After applying for such grants, if the concept of your business runs parallel to the missions and objectives of the organizations, they will consider funding your business.
One can also head to the Small Business Innovation Research (SBRI) program, which grants women and economically unprivileged groups of people, or the Small Business Technology Transfer (STTR) program that encourages domestic small business.
Small Business Grants at State/ Regional Level: The state governments often provide grants for small businesses, given that they assist them in realizing some of their missions and objectives at hand. The government initiatives comprise specific tasks, and this makes it difficult to come by.
The information on the availability of the grant money is published in The United States Department of Commerce. In addition, the seekers are redirected to the System Award Management (SAM) database.
Some state-level grants can also be found by corroborating with the United States Economic Development Administration that takes responsibility for listing resources by state.
Small Business Grants for Women & Small Business Grants for Minorities: These grants for women and minority business owners are available at the governmental, corporate, or foundation levels. Like any other grant, these grants are also not easy to obtain; however, any woman can apply for these grants for her business. Competition is very tough, and any organization has to stand out to avail of these grants.
With variations in amount and time frame, foundation grants like Amber Grant and Eileen Fisher provide women with funding for their business initiatives. In addition, women can head to the SBA to apply for the various government-based grants available.
