9 Best Small Business Grants in 2024

The NASE Grant awards monthly grants of up to $4,000 to qualifying small businesses looking to grow their business. Grant funds can be used for business development needs, such as marketing and advertising, team growth, and expansion.

To qualify, you’ll need to have a NASE membership, which starts at $12 per month. The application requires a business plan that represents the structure and services of your business, along with how grant proceeds can support business goals. Applications are accepted on a rolling basis, with grant winners chosen monthly.

Grant recipients can be of any industry, and are selected based on their business need, utilization of grant funds, and how the grant will equip your business for overall growth and success.

More than $30,000 in grants are awarded monthly by the Amber Grant. The grant is available to women entrepreneurs who want to grow their businesses and need financial support. There are three monthly $10,000 awards across various categories, and winners will also be entered to win an annual grant of $25,000.

There’s a $15 application fee, and various essay questions are required. Qualification requirements state that the applicant be 18 years or older, that their business be women-owned, and that their business be based within the US or Canada.

As winners are chosen monthly, applications are accepted on a rolling basis. Winners are chosen based on business needs and the quality of essay responses about business aspirations and how grant funds can help your business grow and be successful.

In 2020, the Comcast RISE Investment fund was established to support small businesses impacted by the COVID-19 pandemic. Since then, it has awarded annual grants to 500 small businesses from select cities in the US to aid growing businesses and support their local communities. Along with $5,000 in grant funding, recipients receive educational resources, business consultation services, and creative production assistance.

The grant emphasizes DEI initiatives and strongly encourages marginalized groups to apply. To qualify, your business must be based in one of the select cities (which varies each year), the owner must be 18 years or older, have no more than 100 employees, and have an established business with a minimum of three years.

The application requires essay responses that explain your business operations, the products and services you offer, and how grant funds would be used to support your business growth and advance DEI initiatives within your local community.

Businesses that utilize FedEx for their shipping needs can apply for the FedEx small business grant program, which offers 10 annual grants to for-profit small businesses. The grant awards $50,000 to one grand prize winner, and nine runner-ups receive $20,000.

Along with grant funds, winners receive other perks such as access to FedEx Premier Customer Care, a packaging consultation with FedEx Packaging Lab, a My FedEx Rewards $300 voucher, a digital sales consultation, and an invitation to the Small Business Strategic Insights Forum. Winners will also be featured on FedEx’s Small Business Center.

Qualification criteria state that a business must have fewer than 99 employees, be established for at least six months, operate on a for-profit basis, and have an existing customer relationship with FedEx. Applications typically open in March or April every year, with the winners announced in May.

As part of the application, you’ll have to supply a business plan, along with responses that explain your business operations and goals, intentions of how you’ll use grant funds, your customer experience with FedEx, and a short video on your experience as a small business owner. Also considered are your social media presence, website accessibility, brand alignment with FedEx, and your shipping volume and history with FedEx.

For businesses that conduct research and development, the SBIR and STTR programs offer federal grants to qualifying for-profit small businesses. The grants are meant to encourage businesses to work with federal research and development projects that have potential for commercialization.

Qualification criteria specify that businesses must be based in the US, have fewer than 500 employees, and operate as a for-profit company. There are three phases with varying requirements, which include:

• Phase 1: Maximum grant amount of $250,000. Considered the early stage of research and development, and involves the evaluation of products or technology.
• Phase 2: Receive up to $750,000 in funding. Applicable when candidates have the potential for commercialization of products or technology.
• Phase 3: No funding available, occurs when businesses are pursuing commercialization.

You can search for agencies that participate in these programs by visiting the SBIR website. Eligibility requirements will vary depending on the agency, so be prepared to do some research to find an opportunity your business qualifies for.

USDA Rural Business Development Grants are available to rural businesses within the US and are provided by the US Department of Agriculture (USDA). They are intended to provide funding to stimulate business growth in rural communities.

Eligibility criteria will vary but generally require that a business reside in a rural area, have fewer than 50 employees, and have revenue of less than $1 million per year. Qualifications vary depending on the program and may have location or state-specific restrictions.

Applications are accepted on an annual basis and can be obtained from local or state offices. To find an office near you, visit USDA.gov.

The US Chamber of Commerce offers the annual Top Small Business Awards, previously known as the “Dream Big Awards,” which grants one small business a grand prize of $25,000 to support their business endeavors further. To qualify, a business must reside in the US, operate as a for-profit business, have fewer than 250 employees, and have generated no more than $20 million in the last two years.

For businesses making an effort to minimize their impact on the environment, this is an opportunity to demonstrate your sustainability endeavors. The grant is available to businesses industry-wide, inclusive of new businesses, businesses that focus on environmental sustainability, and other companies that have a positive impact on society.

If chosen as a finalist, you’ll need to prepare a video or written interview explaining your business profile. Finalists go through three rounds of judging before the grand prize winner is named.

The Visa Everywhere Initiative awards multiple grants to fintech companies across the world. Grant prizes differ per region; $100,000 as the top prize and $7,000 for other finalists. Qualifying applicants must demonstrate how their product or service imaginatively utilizes Visa products to support their business.

Qualification criteria state the applicant must be 18 years or older and be the owner of an innovative fintech company. For a list of industry-specific criteria, read Visa’s terms and conditions.

Application requirements vary depending on the region and category of your business. The application deadline also varies per region but is usually anywhere from May to July. Winners also receive networking and product placement opportunities as part of the award package.

Verizon’s Digital Ready program offers entrepreneurial resources to small business owners inclusive of over 40 online business courses, more than 200 live and virtual events with mentors and peers, and grant funding opportunities. Grants of $10,000 are awarded to qualifying small businesses to help them grow and support their business ventures.

To qualify, you must sign up to be a part of the program and partake in at least two of the offered courses, coaching sessions, or community events. From there, you can register and apply for grant funds, which are available to businesses in select cities.

Applications are accepted on a rolling basis, and winners are usually announced early in the year. The applicant will have to provide insight into their business plan and goals and reside in one of the chosen cities at the time of application.

Business grants provide funding opportunities for small businesses that can be used for a variety of business expenses. With some grants, other resources are offered such as mentorship programs, educational tools, or networking opportunities.

Yes. Through various organizations, you can apply for any grant you’re eligible for. However, keep in mind this may not be the case if you apply for multiple grants within the same organization.

Application criteria will vary depending on the grant, but it’s usually a good idea to prepare a business plan, financial statements, and documentation that you’re able to operate legally.