in this story<\/div>\r\n \r\n
\r\n \r\n \r\n What is a small business grant?\r\n \r\n \r\n\r\n FD8B74A2-3372-42BA-99CD-BCC6C3C6EA13@1x<\/title>\r\n <defs>\r\n <filter id=\"filter-1\">\r\n <feColorMatrix in=\"SourceGraphic\" type=\"matrix\" values=\"0 0 0 0 0.000000 0 0 0 0 0.000000 0 0 0 0 0.000000 0 0 0 1.000000 0\"><\/feColorMatrix>\r\n <\/filter>\r\n <\/defs>\r\n <g id=\"Iconography\" stroke=\"none\" stroke-width=\"1\" fill=\"none\" fill-rule=\"evenodd\">\r\n <g id=\"icon\/arrow-down\/outline\/16\">\r\n <rect id=\"Bounding-box\" x=\"0\" y=\"0\" width=\"16\" height=\"16\"><\/rect>\r\n <g filter=\"url(#filter-1)\" id=\"Icon\">\r\n <g transform=\"translate(7.500000, 8.000000) scale(-1, -1) rotate(-90.000000) translate(-7.500000, -8.000000) translate(0.000000, 1.500000)\">\r\n <polygon id=\"Path\" fill=\"#000000\" fill-rule=\"nonzero\" points=\"8.75 0.792893219 14.4571068 6.5 8.75 12.2071068 8.04289322 11.5 12.542 6.99989322 0.5 7 0.5 6 12.542 5.99989322 8.04289322 1.5\"><\/polygon>\r\n <\/g>\r\n <\/g>\r\n <\/g>\r\n <\/g>\r\n<\/svg> <\/span>\r\n <\/a>\r\n <\/li>\r\n <li class=\"toc-block__list-item\">\r\n <a href=\"#types-of-small-business-grants\" class=\"toc-block__link\">\r\n Types of small business grants\r\n <span class=\"toc-block__icon\">\r\n <?xml version=\"1.0\" encoding=\"UTF-8\"?>\r\n<svg width=\"16px\" height=\"16px\" viewBox=\"0 0 16 16\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\">\r\n <title>FD8B74A2-3372-42BA-99CD-BCC6C3C6EA13@1x<\/title>\r\n <defs>\r\n <filter id=\"filter-1\">\r\n <feColorMatrix in=\"SourceGraphic\" type=\"matrix\" values=\"0 0 0 0 0.000000 0 0 0 0 0.000000 0 0 0 0 0.000000 0 0 0 1.000000 0\"><\/feColorMatrix>\r\n <\/filter>\r\n <\/defs>\r\n <g id=\"Iconography\" stroke=\"none\" stroke-width=\"1\" fill=\"none\" fill-rule=\"evenodd\">\r\n <g id=\"icon\/arrow-down\/outline\/16\">\r\n <rect id=\"Bounding-box\" x=\"0\" y=\"0\" width=\"16\" height=\"16\"><\/rect>\r\n <g filter=\"url(#filter-1)\" id=\"Icon\">\r\n <g transform=\"translate(7.500000, 8.000000) scale(-1, -1) rotate(-90.000000) translate(-7.500000, -8.000000) translate(0.000000, 1.500000)\">\r\n <polygon id=\"Path\" fill=\"#000000\" fill-rule=\"nonzero\" points=\"8.75 0.792893219 14.4571068 6.5 8.75 12.2071068 8.04289322 11.5 12.542 6.99989322 0.5 7 0.5 6 12.542 5.99989322 8.04289322 1.5\"><\/polygon>\r\n <\/g>\r\n <\/g>\r\n <\/g>\r\n <\/g>\r\n<\/svg> <\/span>\r\n <\/a>\r\n <\/li>\r\n <li class=\"toc-block__list-item\">\r\n <a href=\"#small-business-grants-vs-traditional-loans\" class=\"toc-block__link\">\r\n Small business grants vs. traditional loans\r\n <span class=\"toc-block__icon\">\r\n <?xml version=\"1.0\" encoding=\"UTF-8\"?>\r\n<svg width=\"16px\" height=\"16px\" viewBox=\"0 0 16 16\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\">\r\n <title>FD8B74A2-3372-42BA-99CD-BCC6C3C6EA13@1x<\/title>\r\n <defs>\r\n <filter id=\"filter-1\">\r\n <feColorMatrix in=\"SourceGraphic\" type=\"matrix\" values=\"0 0 0 0 0.000000 0 0 0 0 0.000000 0 0 0 0 0.000000 0 0 0 1.000000 0\"><\/feColorMatrix>\r\n <\/filter>\r\n <\/defs>\r\n <g id=\"Iconography\" stroke=\"none\" stroke-width=\"1\" fill=\"none\" fill-rule=\"evenodd\">\r\n <g id=\"icon\/arrow-down\/outline\/16\">\r\n <rect id=\"Bounding-box\" x=\"0\" y=\"0\" width=\"16\" height=\"16\"><\/rect>\r\n <g filter=\"url(#filter-1)\" id=\"Icon\">\r\n <g transform=\"translate(7.500000, 8.000000) scale(-1, -1) rotate(-90.000000) translate(-7.500000, -8.000000) translate(0.000000, 1.500000)\">\r\n <polygon id=\"Path\" fill=\"#000000\" fill-rule=\"nonzero\" points=\"8.75 0.792893219 14.4571068 6.5 8.75 12.2071068 8.04289322 11.5 12.542 6.99989322 0.5 7 0.5 6 12.542 5.99989322 8.04289322 1.5\"><\/polygon>\r\n <\/g>\r\n <\/g>\r\n <\/g>\r\n <\/g>\r\n<\/svg> <\/span>\r\n <\/a>\r\n <\/li>\r\n <li class=\"toc-block__list-item\">\r\n <a href=\"#how-to-qualify-for-a-small-business-grant\" class=\"toc-block__link\">\r\n How to qualify for a small business grant\r\n <span class=\"toc-block__icon\">\r\n <?xml version=\"1.0\" encoding=\"UTF-8\"?>\r\n<svg width=\"16px\" height=\"16px\" viewBox=\"0 0 16 16\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\">\r\n <title>FD8B74A2-3372-42BA-99CD-BCC6C3C6EA13@1x<\/title>\r\n <defs>\r\n <filter id=\"filter-1\">\r\n <feColorMatrix in=\"SourceGraphic\" type=\"matrix\" values=\"0 0 0 0 0.000000 0 0 0 0 0.000000 0 0 0 0 0.000000 0 0 0 1.000000 0\"><\/feColorMatrix>\r\n <\/filter>\r\n <\/defs>\r\n <g id=\"Iconography\" stroke=\"none\" stroke-width=\"1\" fill=\"none\" fill-rule=\"evenodd\">\r\n <g id=\"icon\/arrow-down\/outline\/16\">\r\n <rect id=\"Bounding-box\" x=\"0\" y=\"0\" width=\"16\" height=\"16\"><\/rect>\r\n <g filter=\"url(#filter-1)\" id=\"Icon\">\r\n <g transform=\"translate(7.500000, 8.000000) scale(-1, -1) rotate(-90.000000) translate(-7.500000, -8.000000) translate(0.000000, 1.500000)\">\r\n <polygon id=\"Path\" fill=\"#000000\" fill-rule=\"nonzero\" points=\"8.75 0.792893219 14.4571068 6.5 8.75 12.2071068 8.04289322 11.5 12.542 6.99989322 0.5 7 0.5 6 12.542 5.99989322 8.04289322 1.5\"><\/polygon>\r\n <\/g>\r\n <\/g>\r\n <\/g>\r\n <\/g>\r\n<\/svg> <\/span>\r\n <\/a>\r\n <\/li>\r\n <li class=\"toc-block__list-item\">\r\n <a href=\"#applying-for-a-small-business-grant\" class=\"toc-block__link\">\r\n Applying for a small business grant\r\n <span class=\"toc-block__icon\">\r\n <?xml version=\"1.0\" encoding=\"UTF-8\"?>\r\n<svg width=\"16px\" height=\"16px\" viewBox=\"0 0 16 16\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\">\r\n <title>FD8B74A2-3372-42BA-99CD-BCC6C3C6EA13@1x<\/title>\r\n <defs>\r\n <filter id=\"filter-1\">\r\n <feColorMatrix in=\"SourceGraphic\" type=\"matrix\" values=\"0 0 0 0 0.000000 0 0 0 0 0.000000 0 0 0 0 0.000000 0 0 0 1.000000 0\"><\/feColorMatrix>\r\n <\/filter>\r\n <\/defs>\r\n <g id=\"Iconography\" stroke=\"none\" stroke-width=\"1\" fill=\"none\" fill-rule=\"evenodd\">\r\n <g id=\"icon\/arrow-down\/outline\/16\">\r\n <rect id=\"Bounding-box\" x=\"0\" y=\"0\" width=\"16\" height=\"16\"><\/rect>\r\n <g filter=\"url(#filter-1)\" id=\"Icon\">\r\n <g transform=\"translate(7.500000, 8.000000) scale(-1, -1) rotate(-90.000000) translate(-7.500000, -8.000000) translate(0.000000, 1.500000)\">\r\n <polygon id=\"Path\" fill=\"#000000\" fill-rule=\"nonzero\" points=\"8.75 0.792893219 14.4571068 6.5 8.75 12.2071068 8.04289322 11.5 12.542 6.99989322 0.5 7 0.5 6 12.542 5.99989322 8.04289322 1.5\"><\/polygon>\r\n <\/g>\r\n <\/g>\r\n <\/g>\r\n <\/g>\r\n<\/svg> <\/span>\r\n <\/a>\r\n <\/li>\r\n <\/ul>\r\n <\/div>\r\n\n\n\n<p>Small business grants are a lifeline for many new startups. These free cash injections help <a href=\"https:\/\/www.wework.com\/ideas\/tag\/starting_small\">fledgling companies<\/a> when they need it most, allowing growing businesses to fund new projects, invest in vital equipment, and train staff without racking up debt.<\/p>\n\n\n\n<p>As you might expect, there are hoops to jump through before free money is handed over. Knowing which grants your business is eligible to apply for is the first step in a time-consuming and often complex process. To be successful in a grant application, small businesses and individuals must spend months <a href=\"https:\/\/www.wework.com\/ideas\/professional-development\/management-leadership\/the-simple-secret-to-securing-funding-for-your-startup\">researching their options<\/a> and submitting carefully considered proposals.<\/p>\n\n\n\n<p>WeWork can also help startups at the beginning of their journey by providing flexible and affordable office space that can expand and adapt to meet your business\u2019s changing needs. You can choose from a range of office spaces to suit teams of all sizes, from <a href=\"https:\/\/www.wework.com\/solutions\/full-floor-office\">fully furnished, full-floor offices<\/a> to <a href=\"https:\/\/www.wework.com\/solutions\/standard-office\">private offices<\/a> that are ready to move into at short notice.<\/p>\n\n\n\n<p>No matter how you choose to work, a well-timed grant can be a key tool in achieving your business goals. 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id=\"nf-tmpl-cell\" type=\"text\/template\">\r\n <nf-fields><\/nf-fields>\r\n <\/script>\r\n\r\n <script id=\"nf-tmpl-row\" type=\"text\/template\">\r\n <nf-cells><\/nf-cells>\r\n <\/script>\r\n\r\n \n\n\n<h2 id=\"what-is-a-small-business-grant\"class=\"wp-block-heading\"><strong>What is a small business grant?<\/strong><\/h2>\n\n\n\n<p>A small business grant is money awarded to a company to help it grow, usually from a government agency or a nonprofit organization. Unlike most other forms of <a href=\"https:\/\/www.wework.com\/ideas\/professional-development\/business-solutions\/three-proven-ways-to-finance-your-startup\">financial aid<\/a>\u2014such as a traditional business loan\u2014a small business grant doesn\u2019t have to be repaid, though it may come with some rules about how the money must be spent.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-style-default\"><img loading=\"lazy\" decoding=\"async\" width=\"2048\" height=\"1152\" src=\"\/ideas\/wp-content\/uploads\/sites\/4\/2022\/05\/20170915-Selling-Offices-Online-Details-44_v1-scaled.jpg\" alt=\"\" class=\"wp-image-3000057381\" srcset=\"https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2022\/05\/20170915-Selling-Offices-Online-Details-44_v1-scaled.jpg?w=2048 2048w, https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2022\/05\/20170915-Selling-Offices-Online-Details-44_v1-scaled.jpg?w=400 400w, https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2022\/05\/20170915-Selling-Offices-Online-Details-44_v1-scaled.jpg?w=800 800w, https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2022\/05\/20170915-Selling-Offices-Online-Details-44_v1-scaled.jpg?w=1120 1120w, https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2022\/05\/20170915-Selling-Offices-Online-Details-44_v1-scaled.jpg?w=1440 1440w, https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2022\/05\/20170915-Selling-Offices-Online-Details-44_v1-scaled.jpg?w=1536 1536w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p>Small business grants are used by governments all over the world to help boost economic growth and encourage projects that work toward the public good. Grants are also used to incentivize innovation in science, education, and technology, and more recently they have been deployed to help support small businesses impacted by the COVID-19 pandemic.<\/p>\n\n\n\n<h2 id=\"types-of-small-business-grants\"class=\"wp-block-heading\"><strong>Types of small business grants<\/strong><\/h2>\n\n\n\n<p>From pandemic support packages to cash prizes for innovation, grants come in all shapes and sizes. Here are some of the most common small business grants you\u2019ll encounter.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Federal small business grants<\/strong><\/h3>\n\n\n\n<p>Government agencies use federal business grants to encourage small businesses working in areas such as scientific research and development, education, conservation, and agriculture. Federal small business grants amount to billions of dollars each year\u2014the online database <a href=\"https:\/\/www.grants.gov\/\">grants.gov<\/a> helps to connect small business owners with federal grants available to them.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>State and regional small business grants<\/strong><\/h3>\n\n\n\n<p>Similarly, state-level government grants and other forms of local assistance are available to small businesses working regionally. Naturally the type and level of support differs depending on the state. The <a href=\"https:\/\/www.sba.gov\/local-assistance\/resource-partners\/small-business-development-centers-sbdc\">US Small Business Administration website<\/a> has listings of nearby Small Business Development Centers (SBDC), as well as details on how an SBDC can help your company.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Corporate small business grants<\/strong><\/h3>\n\n\n\n<p>Very large companies, such as Visa and Walmart, as well as philanthropic organizations and charities offer small business grants to selected nonprofits and competitive startups working in specific industries or communities. The <a href=\"https:\/\/usa.visa.com\/visa-everywhere\/everywhere-initiative\/initiative.html\">Visa Everywhere Initiative<\/a> is a great example of a corporate small business grant, and it awards over $500K in cash prizes to fintech businesses working to improve financial services.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Specialized small business grants<\/strong><\/h3>\n\n\n\n<p>These types of targeted grants are designed to help direct money toward small business owners from chosen demographics, who work in underserved communities or face particular challenges in doing business. For example, the crowdfunding platform <a href=\"https:\/\/ifundwomen.com\/\">iFundWomen<\/a> aims to direct capital and credit to businesses owned by women, as well as secure small business grants through the organization’s corporate partners.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>COVID-19 small business grants<\/strong><\/h3>\n\n\n\n<p>There\u2019s a range of federal and state government support plans designed to help small businesses that were forced to close or were otherwise impacted by the COVID-19 pandemic. These plans include things like business loans and employee retention credits. But there are also industry-specific grants, such as those designed to help reinvigorate struggling hospitality and entertainment venues. <a href=\"https:\/\/www.grants.gov\/search-grants.html?agencyCode=HHS&keywords=COVID-19%20Coronavirus\">Grants.gov<\/a> has a full list.<\/p>\n\n\n\n<h2 id=\"small-business-grants-vs-traditional-loans\"class=\"wp-block-heading\"><strong>Small business grants vs. traditional loans<\/strong><\/h2>\n\n\n\n<p>A traditional loan and a small business grant are both ways in which a business owner can obtain money, but they differ in one important aspect. A loan is a repayable debt secured against your business assets, which usually comes with interest and lender charges on top. On the other hand, a grant is essentially free money, often with some strings attached, but always given with no expectation of it being repaid.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.wework.com\/ideas\/community-stories\/member-spotlight\/people-over-profits-one-companys-new-take-on-lending\">Loans are generally easier<\/a> for small businesses to apply for and access, and the money is often available to use in a matter of days. On the other hand, the process for getting a federal grant approved can take months of work. Depending on the type of grant you\u2019re applying for, your proposal might not even succeed.<\/p>\n\n\n\n<h2 id=\"how-to-qualify-for-a-small-business-grant\"class=\"wp-block-heading\"><strong>How to qualify for a small business grant<\/strong><\/h2>\n\n\n\n<p>Before submitting a formal grant proposal, you need to make sure that your small business meets the entry requirements set by the grantor. Depending on the type of grant you\u2019re applying for, your business might have to be located within a certain area, or you might need to work in a specific field, employ a certain number of people, or meet a minimum or maximum annual turnover.<\/p>\n\n\n\n<p>Grants are designed to direct financial support to the right kinds of businesses, so studying the criteria carefully before applying will give you the best chance of securing funds.<\/p>\n\n\n<div class=\"related-articles-sticky related-articles-sticky--sticky-on-desktop\">\r\n <div class=\"related-articles-sticky__holder\">\r\n <div class=\"ray-grid\">\r\n <div class=\"ray-grid__cell--span-full\">\r\n <div class=\"related-articles-sticky__header-wrapper\">\r\n <h3 class=\"ray-text--h3 related-articles-sticky__block-title\">\r\n Related articles\r\n <\/h3>\r\n <\/div>\r\n <div class=\"related-articles-sticky__wrapper\">\r\n \r\n <div class=\"related-articles-sticky__item\">\r\n <div 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<\/div>\r\n <\/div>\r\n <\/div>\r\n\n\n\n<h2 id=\"applying-for-a-small-business-grant\"class=\"wp-block-heading\"><strong>Applying for a small business grant<\/strong><\/h2>\n\n\n\n<p>The process of applying for a small business grant varies depending on a bunch of different factors, including where the money is coming from and what objectives the grant is trying to achieve. But there are a few key steps to bear in mind when planning your application.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read the grant objectives. <\/strong>Equip yourself with a thorough understanding of why the grant exists and <a href=\"https:\/\/www.wework.com\/ideas\/community-stories\/member-spotlight\/one-nonprofit-training-people-for-life-changing-careers\">who it\u2019s designed to help<\/a>. Think about where your business fits into these objectives.<\/li><li><strong>Have a business plan. <\/strong>As with any type of funding, your grantor will expect to see a professional business plan. Unlike a traditional loan, you won\u2019t need to prove yourself creditworthy, but a grant is still an investment. You should be able to provide a comprehensive description of your company\u2019s health, projections, and balance sheets.<\/li><li><strong>Know how the grant will be used. <\/strong>Grants are typically awarded to help a business with a specific project or goal, such as buying new equipment or training staff. A good proposal should account for how every last dollar of the grant will be spent.<\/li><li><strong>Apply early.<\/strong> Whereas a bank or <a href=\"https:\/\/www.wework.com\/ideas\/professional-development\/how-to-speak-to-investors\">investor<\/a> can have loan money in your business account within hours, the federal grants system isn\u2019t as speedy, so apply early. Not only will your proposal be processed more quickly, but if the business grant is drawing from a limited pot of cash, your application has a better chance of succeeding if you\u2019re first in the door.<\/li><\/ul>\n\n\n\n<p><em>Steve Hogarty is a writer and journalist based in London. He is the travel editor of <\/em>City AM<em> newspaper and the deputy editor of <\/em>City AM Magazine<em>, where his work focuses on technology, travel, and entertainment.<\/em><\/p>\n\n\n<div\r\n data-block_60e8695ae0589\r\n class=\"sticky-cta align sticky-cta--bottom sticky-cta--default--bottom sticky-cta--right sticky-cta--default\"\r\n>\r\n <div class=\"sticky-cta__copy sticky-cta--default__copy\">\r\n <p>Rethinking your workspace?<\/p>\n\r\n <\/div>\r\n\r\n <div class=\"sticky-cta__button-wrap sticky-cta--default__button\">\r\n <button class=\"ray-button ray-button--primary sticky-cta__button\">\r\n <a\r\n href=\"#nf-form-31-cont\"\r\n class=\"sticky-cta__link sticky-cta--default__link\">\r\n Get in touch\r\n <\/a>\r\n <\/button>\r\n <\/div>\r\n<\/div>\r\n","protected":false},"excerpt":{"rendered":"<p>The government and many private companies are offering your startup free cash. Here\u2019s how to get it<\/p>\n","protected":false},"author":1849,"featured_media":3000057382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-single-default.blade.php","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43910,43902],"tags":[1488,39224,43942],"class_list":["post-3000057344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-solutions","category-professional-development","tag-management","tag-company-growth","tag-starting_small"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.4 (Yoast SEO v25.3.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to get a business grant for your small business<\/title>\n<meta name=\"description\" content=\"Government small business grants can help startups succeed. 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