Getting started is one of the most difficult times for a small business owner. It is also the time when many entrepreneurs have access to fewer resources. Therefore, grants for small businesses can be especially helpful for new and potential start-up founders. Two new scholarship opportunities for business start-ups have been launched this week, including one specific to young founders. Read about these grant opportunities and others below.
Incfile Fresh Start Business Grant
The Incfile business submission service offers grants to support new businesses. The business scholarship for a fresh start is open to those just starting out, as well as experienced entrepreneurs starting new businesses. The contest winner will receive $ 2,500 for start-up expenses, as well as free Incfile training services. Applicants must be at least 21 years old and reside in the US. 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
In addition, Incfile is also launching a scholarship program for entrepreneurial students. The Young Entrepreneurship Scholarship will award $ 2,500 to a high school, undergraduate, graduate, or business school student in the U.S. To qualify, students must have a GPA of 3.0 or higher and an interest in starting a business. Interested students will be required to submit an online application, a short video, and a sample business plan. The money is then earmarked for 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 grant program that supports companies owned by women of color. Through the IFundWomen of Color platform, the program includes a $ 1 million Caress investment. In addition to the $ 5,000 grants, the program also includes a business accelerator, coaching, creative services, and educational resources. IFundWomen of Color operates several rounds each year. Applications for the fall session are open from July 8th.
Nashville and Davidson County Small Business Loan and Grant Program
Nashville and Davidson County, Tennessee, have recently introduced a $ 18 million small business grant and loan program. Pathway Lending will administer the funds, which are available through federal allocations under the U.S. Rescue Plan Act. To qualify, companies must have a physical address in Davidson County, annual revenues of between $ 10,000 and $ 1,000,000 and no more than 50 full-time employees, among other criteria. Applications are now available and the deadline to apply is July 31st.
San Antonio Small Business Scholarship Program
San Antonio, Texas, recently approved a new small business grant program funded through the American Rescue Plan Act. With the new program, small businesses can apply for between $ 15,000 and $ 35,000. In total, the City Council allocated $ 17 million for the program. To qualify, companies must be able to show a loss of at least 20 percent of gross revenue between 2019 and 2021. Full details, including the deadline for applications, have not yet been determined. and the complete criteria. But the city expects 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 still offers grants that cover up to $ 50,000 or 50 percent of the costs of eligible improvement projects. To qualify, businesses must be small businesses or businesses owned by women or minorities in New Jersey that own or operate a physical location. Companies must also have solvency and not be in arrears with any state assistance program. The program is still open and will accept applications continuously until all funds have been distributed.
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