Federal Business Grants
The federal government sets aside free business grants and loans for start up of a profit or non-profit business, expansion, research, development, jobs, training, legal fees, acquisition, salaries, equipment, equipment leases, consultation services, patent registration, technology or acquiring land. There are also funds available for minority businesses. Free federal business grants are quite popular and competitive. The government encourages entrepreneurship to complete globally, nationally and locally to develop new technologies and services that create jobs and stimulate the economy. For 2012, 1.51 billion has been set aside for business grants and loan assistance.
U.S. Small Business Administration
U.S. Small Business Administration Small Business Innovation Research (SBIR) Program & Small Business Technology Transfer (STTR) are two federal research and development programs that provide grants to small businesses to help them undertake research of innovative products and technologies to create more jobs and stimulate the economy. SBA also partners with various lenders to offer small businesses competitive financing to further and expand their businesses.
Energy Grants and Green Business grants
The federal government gives energy grants to businesses that are in the energy businesses such as the oil and gas business, electric power industry and nuclear power industry. The government is looking for new energy systems that use sunlight, store electricity or make energy from materials and chemical that change from one form of energy to another for the future energy systems of our country and the world. Green business grants are available for businesses who are interested in becoming environmentally friendly businesses.
Other Business Grants
Federal grants are available in the following industries:
- Aerospace & Defense
- Consumer Goods & Services
- Electric Power Industry
- Energy Industry
- Financial Services
- Firearms & Explosives
- Food & Beverage
- Health Care
- Housing & Real Estate
- Mining & Drilling
- Nuclear Power Industry
- Oil and Gas Industry
- Pharmaceuticals & Biotechnology
- Printing & Publishing
- Telecommunications & Media
- Transportation & Logistics
Applying For Government Business Grants
In order to apply for a free government business grant, you need to register at the grants.gov website. Each application has different funding requirements. Be sure to read through the guidelines carefully before you apply. Submission deadlines must be followed in order to be eligible as well. Always complete all the information on the application and submit the required supporting documentation. It’s also a good idea to apply to several grants because there is no limit on the number you can receive. Grants do not have to be paid back either, but loans do.
Business grants from the federal government are one of the best ways for a business to get started or expand their research and development, create jobs and help compete in the business world.