Grants come in different forms. You will be eligible to register for these certain ones provided you meet their qualifications and restrictions.
The first types of grants are offered by the government. This covers agencies such as the Small Business Administration as well as more specialized departments.
You will also find grants offered by commercial enterprises. These may be more general in nature and therefore more accessible to a larger audience.
Small company grant programs are also offered by corporations. Application requirements for private grants are usually less restrictive, but there is more competition for resources.
Some funds are earmarked for specific groups, such as minorities, women, or veterans.
You can also apply for a foundation award. This is another type of private grant, but instead of a corporation, you will receive funding from a charitable foundation.
Check out these types of grants:
Federal Grants
Federal grants are funded by general federal revenues of the United States government. The government provides grants to help economies in need.
In return, non-profit organizations in the fields of health, technology, science, and education are usually supported.
Local grants
Small businesses are provided with local funds to help them develop or maintain their operations. These grants are aimed at small businesses that have a direct impact on the community.
State grants
A state small business award, unlike a federal grant, is awarded by a single state. These funds are usually lower than federal grants, but due to state requirements, competition can be fierce.
As a result, they will be more accessible to many organizations and even if they are smaller than a federal grant, they can still provide much needed funds.
Corporate grants
Corporate grants for small businesses are awarded to a select group of companies.
These awards can be subject to a number of restrictions, have a wide range of values and be targeted at highly specialized or diverse businesses.
Businesses usually set aside funds at the beginning of the financial year and then hold competitions to distribute the funds.