What is a small business grant? It is a system in which a particular sum of money is given to a small organization. You see, various entities, including state, local, federal, and private corporations, offer grants to small businesses that meet certain eligibility criteria.
However, unlike a loan or a business credit card, small business grants don’t need repayment. In other words, these grants are free money spent by an individual or an organization to the businesses that are ready to follow the guidelines on how to use the funds.
Failing to obey may result in full or partial repayment of the loan amount. Are you also looking for a small business grant? We got the top 5 grants for you in this post with a November 2022 deadline.
Enfield Small Business Recovery Grants
Enfield, Connecticut, is offering grants of up to $50,000 to small businesses that are independently owned and operated. It should also have 500 or fewer employees and must have suffered a financial loss due to COVID-19.
Concord Pandemic Recovery Grant Program
In partnership with the Great Concord Chamber of Commerce, Concord, California, launched this $2 million pandemic recovery grant program. Businesses can apply for a $5,000 grant. In this way, 370 businesses can benefit from this program. Small businesses can apply for two funding rounds. Both will have different deadlines.
COVID-19 Small Business Grants
This grant is available to small businesses that have suffered great losses due to the pandemic. It includes 2 programs. They are:
- Fiserv + Clover back2Business Grant Program to help minority-owned and black small businesses that are in a loss due to COVID-19.
- Ohio’s Entertainment Venue Grant up to $30,000 to businesses that have suffered financial losses due to the pandemic
Besides these, women entrepreneurs who have faced losses due to the pandemic can search for small business grants for women 2022 for assistance.
Tehama County Stabilization Grants
The Tehama County Chamber of Commerce, California, is offering a grant of $2 million to small businesses to help them stabilize their operations. Any company or non-profit organization with 20 or fewer employees can apply for this grant.
The Miami Foundation Grants and Funding Opportunities
The Miami Foundation is supporting small businesses in Florida through this innovative business grant program. The aim is to help small businessmen uplift their business operations and increase revenues. It is a$20 million program, and businesses can use this fund to purchase equipment and property.
Tips to Qualify for a Small Business Grant
You see, the eligibility criteria here differ from program to program. A lender may require that a business should use the funds in a specific way. He may also outline the minimum annual revenue limit and the operating industry. Small businesses should read all the requirements carefully before apply for any grant. It will help them apply for the best grant to boost their business operations.
Bottom line
So, this was all about the top small business grants to look for in 2022. Small businesses can transform the fate of their companies with the right fund usage. Besides this, businesses that are struggling to thrive in the competition can refer to these steps to get back on their feet.
