Available Grants For Small Businesses
A federal grant is an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States. These grants are available through state and local programs, nonprofit organizations and other groups.
Grants.gov is a central storehouse for information on over 1,000 grant programs and provides access to approximately $500 billion in annual awards. You can search and apply for available grants directly on the site.
Who’s eligible for a grant? We have all seen them; late night infomercials, websites, and reference guides, advertising “millions in free money” Don’t believe the hype! Although there are many grants, few of them are available to individuals and none of them are available for personal financial assistance.
There are many groups of organizations that are eligible to apply for government grants. Typically, most grantee organizations fall into the categories below.
Small business loans and small business grants may be awarded to companies that meet the size standards that the U.S. Small Business Administration (SBA) has established for most industries in the economy. The most common size standards are as follows:
- 500 employees for most manufacturing and mining industries
- 100 employees for all wholesale trade industries
- $6 million for most retail and service industries
- $28.5 million for most general & heavy construction industries
- $12 million for all special trade contractors
- $0.75 million for most agricultural industries
- Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education
- Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education
- State Governments
- Local Governments
- City or Township Governments
- Special District Governments
- Independent School Districts
- Public and State Controlled Institutions of Higher Education
- Private Institutions of Higher Education
SEARCH FOR GRANTS: To find out what grants are currently available for these different eligibility categories, conduct an Advanced Search.