Small Business Grants: How to Qualify for Them

At the risk of stating the obvious, in order to qualify for a small business grant, you must apply by submitting a grant proposal to the grantor. However the qualifying process includes steps before applying as well as steps after qualifying. The 5 steps to qualifying for a small business grant are as follows:

Step #1: Make Sure Grants are Appropriate for Your Business

Grants aren't for everyone, and they also aren't the only way to finance a venture. If grants aren't suited for your business, there are other avenues such as bank loans and venture capital just to name two. Will your project improve and make your community or society better? Then a grant might be right for you. Just make sure the grant you apply for is appropriate for your business.

Step 2: Prepare your Business Plan

In the business world anyone who is willing to give you money (close friends and family being the exception), will require a business plan. Business Plans not only help you to plan out the day-to-day and long term operations of a business, but if you have done a good job on the business plan, they show the grantor that you are serious about this venture.

Step 3: Find grants that might be suitable for your organization

Check government websites and see which agencies if any support the line of business you are in. Then check the grants they have available and see which ones are the best fit for your organization.

Step 4: Prepare and Submit Your Grant Proposal

After thoroughly preparing your grant proposal, check for errors as well as compliance with the terms of the grant. If everything checks out, then submit your grant proposal.

Step 5: Post Decision Follow Up

After securing the grant, continue to comply with the terms of the grant and ask your grantor about anything that you should look out for. If your grantor asks for information, be just as proactive about providing information as you were before receiving funding.

Using these 5 steps you can qualify for a small business government grant and continue complying with the requirements of the grant.

Raise Money from Grants With Growthink's Grant Report

Growthink’s Step-By-Step Guide to Raising Capital from Grants
will guide you through the process of winning grants to fund your business.

Click Here To Download Growthink's Grant Funding Report Today!

Here is a sample of what you will learn in the report:

• The four common myths about grants...and the truth about each (pages 3-5)
• The 10 core business segments that grants fund, and how to properly position your company to win them (pages 11-12)
• The two best places to quickly and easily search for grants for your business (pages 14-15)
• Where to go to find state and local grants for your business (page 16)
• How to find a private grant if all or part of your business is a non-profit (page 21)
• What to do AFTER you submit your proposal to escalate your chances of winning the grant (page 33)
• The 5 steps you need to take to find and secure grants for your business (page 34).

Learn More About Getting Grant Funding for Your Business!