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Posted in business Funding

How to Apply For Business Grants

How to Apply For Business Grants The federal government provides funding, in the form of grant funds, for projects and programs carried out by individuals, nonprofit organizations and businesses. Funding for businesses by the government is limited in scope when compared with funding available to nonprofit organizations. Business government grants offered to businesses by the federal government include grants for specific research initiatives, "green" energy initiatives, and industry-specific services that are provided to the benefit of the community. The federal government also allots business government grant funds to individual states to allocate and manage for businesses within their state who meet the requirements set by the federal government.

The Small Business Innovative Research (SBIR) grant is a business government grant that provides government funding for approved research and development projects. One of the goals of SBIR is to increase the number of small businesses conducting federal research. The SBIR business government grant is administered in three phases. Phase 1 is awarded for a period of 6 months, with an award of up to $100,000. Phase 2 is awarded for a period of 24 months, with an award of up to $750,000. Eleven federal agencies participate in the SBIR business government grant program ranging from the Department of Education to the Department of Homeland Security. For more information on SBIR grants, visit: ED.gov.

The federal government is currently sponsoring a business government grant to assist businesses in converting to renewable energy resources. The program, the Rural Energy for America Program (REAP) grant, is administered by the USDA and awards business government grants in rural areas to businesses that wish to utilize renewable energy.

The US Small Business Association (SBA) hosts a website that covers the business government grants and loans that are available to small businesses from the federal government. The site states, "SBA has authority to make grants to non-profit and educational organizations in many of its counseling and training programs, but does not have authority to make grants to small businesses."That being said, if you have a business that provides non-profit services or has an educational organization as a component, you may be eligible for a business government grant through the SBA. For more information on the SBA and the availability of grants, visit: SBA.gov.

Business government grants are one of the most difficult grants to locate. Should a business government grant be located that could provide funding for a specific project that a business wishes to apply for, the business should be prepared to complete a lengthy application. For example, the REAP grant mentioned above boosts a 300 page business government grant application! Businesses will also need to ensure that every section of the business government grant application is completed in its entirety and that the application is submitted by the published deadline.

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