October 7, 2022

Diverse Small Businesses May Qualify for $10,000 Grants

grants-for-diverse-small-businesses

grants for diverse small businesses

Every small business faces different challenges throughout its journey. For example, some entrepreneurs face barriers to entry because they’re low-income or members of underserved communities. Others face sudden challenges like wildfires. And many businesses are still reeling from the pandemic – especially those in the hospitality sector.

Small business grants can help businesses recover from these hardships. Read about current opportunities for businesses in various locations below.

Nebraska Fiserv Diverse Small Business Grants

Financial technology services provider Fiserv is offering grants of $10,000 to diverse small businesses in Nebraska. The Back2Business grant program includes a total of $1 million in funding, along with additional support for business operations and marketing. To qualify, diverse small businesses must have 10 or fewer employees and have been in business prior to January 2021. Applications are accepted on a rolling basis.

Connecticut Hospitality COVID-19 Recovery Grants

Connecticut is providing $30 million in grants to hospitality businesses throughout the state. The Connecticut Department of Revenue Services will distribute the checks, which range from $7,500 to $49,999. To qualify, businesses in this sector must have experienced a loss of 15 percent or more in gross receipts between 2019 and 2021, along with meeting other eligibility criteria. Businesses do not need to apply for these grants, as the DECD will analyze data from business receipts and automatically send out funds.

New Mexico Wildfire Business Assistance Grant Program

The Wildfire Business Assistance Grant Program supports small businesses in certain parts of New Mexico that suffered wildfire-related damage. Business owners and self-employed individuals can apply for funds to address physical damage or reduced revenue resulting from the recent wildfires. To qualify for priority assistance, businesses must be located within the boundaries of the Presidential Disaster Declaration for the Big Hole, Calf Canyon/Hermit’s Peak, Cooks Peak, and McBride fires. Grants may provide between $5,000 and $20,000, depending on the extent of the damage or lost revenue. The application period opens on August 15 and ends on August 26. Additional funding rounds may open later in the year if extra money remains.

Hawai’i Energy EmPOWER Grant Program

Hawai?i Energy is supporting sustainable business initiatives through its 2022-2023 EmPOWER Grant program. Nonprofits and small businesses that are pursuing energy efficiency projects like LED lighting installation, Energy Star certified commercial kitchen appliances, and efficient HVAC systems can apply for grants of up to $5,000. Eligible businesses have until September 30 to apply for funding.

Waukegan Micro Enterprise Small Business Loan Program

Waukegan, Illinois is offering grants of up to $15,000 and loans of up to $10,000 to select brick and mortar or home-based businesses. To qualify for the Micro Enterprise Small Business Loan Program, businesses must have five or fewer employees who are considered low-income. To meet this threshold, individuals must earn less than $58,350 a year, couples must earn $66,700 or less, and must earn less than $83,350. Grants will be awarded on a first-come, first-served basis.

Elevate Vermont SBIR/STTR Program

Elevate Vermont is a new accelerator program designed to help the state’s small businesses remain relevant in a global market. This state program applies to businesses that have won federal SBIR/STTR programs, or those who are interested in applying. The program doesn’t offer extra grant funding, but it does provide one-on-one SBIR/STTR application assistance and other support programs for innovative businesses.

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This article, “Diverse Small Businesses May Qualify for $10,000 Grants” was first published on Small Business Trends

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