Getting started is one of the most difficult times for a small business owner. This is also the time when many entrepreneurs have access to fewer resources. Thus, small business grants can be particularly helpful for new and potential startup founders. This week, two new start-up scholarship opportunities have been launched, including one specifically for young creators. Check out these and other grant opportunities below.
Incfile New Business Startup Grant
The Incfile business filing service offers grants to support new businesses. The Fresh Start Business grant is open to those just starting out as well as seasoned entrepreneurs starting new businesses. The winner of the contest will receive $2,500 to use towards start-up expenses as well as free training services from Incfile. Applicants must be at least 21 years old and reside in the United States. The process includes an online application, a short video and a sample business plan. The first deadline for 2022 is June 30, but there are also additional rounds ending on September 30 and December 31.
Incfile Young Entrepreneur Scholarship
Additionally, Incfile is also launching a scholarship program for student entrepreneurs. The Young Entrepreneur Scholarship will award $2,500 to a high school, undergraduate, graduate, or business school student in the United States. To qualify, students must have a GPA of 3.0 or higher and an interest in starting a business. Interested students will need to submit an online application, a short video and a sample business plan. Then the money goes towards continuing education towards your business goals. The deadlines for 2022 are June 30, September 30 and December 31.
Caress Dreams Fund
The Caress Dreams Fund is an ongoing grantmaking program that supports businesses owned by women of color. Run through the iFundWomen of Color platform, the program includes a $1 million investment from Caress. In addition to the $5,000 grants, the program also includes a business accelerator, coaching, creative services, and educational resources. IFundWomen of Color holds several rounds each year. Applications for the fall session are open until July 8.
Nashville and Davidson County Small Business Loan and Grant Program
Nashville and Davidson County, Tennessee, recently unveiled an $18 million grant and loan program for small businesses. Pathway Lending will administer the funds, which are available through the American Rescue Plan Act federal grants. To be eligible, businesses must have a physical address in Davidson County, annual revenue between $10,000 and $1,000,000, and no more than 50 full-time employees, among other criteria. Applications are available now and the application deadline is July 31.
San Antonio Small Business Grant Program
San Antonio, Texas recently approved a new small business grant program funded by the American Rescue Plan Act. Under the new program, small businesses can apply for between $15,000 and $35,000. Overall, the city council has allocated $17 million for the program. To be eligible, businesses must be able to demonstrate a loss of at least 20% of their gross revenue between 2019 and 2021. Full details, including application deadline and full criteria, are yet to be announced. been determined. But the city hopes to distribute all the funds by the end of the year.
NJ Small Business Fund
The New Jersey Economic Development Authority originally launched the NJ Small Business Fund in February. The program continues to offer grants that cover up to $50,000 or 50% of eligible improvement project costs. To be eligible, businesses must be small businesses or women-owned or minority-owned businesses in New Jersey that own or operate a physical location. Companies must also be solvent and not in default with state aid programs. The program is still open and will accept applications on a rolling basis until all funds have been distributed.
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