Willing to apply for business grant? Know the entire procedure of business grant application here
If you are a small business owner, you may be trying to find ways to fund your business. To make things easier, leverage on governmental assistance and incorporate that within your business plan. To benefit small business in the USA, you may apply for business grants issued by the government. Follow every steps of business grant application and easily fund your business. There is no need to approach banks and financial institutions to apply for business loans when you can initiate business expansion and development through these small business government grants.
Know one thing that the government grants are only available for educational institutions, non-profit organization and companies. The organizations must deal in areas like medicine, education, technology and should deal with scientific researches. Here are the ways to applying for business grants. However, government grants are also available by way of government loans or financial support from money lenders and the banks.
Get to know the grant requirement
You should do your research to find out the requirements for business grant application. The government gives necessary help by way of grants after considering the kind of business and the size of organization. Assess the size of your organization and the category where you fall. Know the type of grants available for you and the type of business. The grant must match the expertise level of your organization and the size. Browse through grants.gov to find open government grants opportunity. You will get the entire list of grant opportunities once you click “Browse Eligibility” and “Small Businesses”.
Register your company with the grant program
Before applying for business grant, you must register your company with grant program of the federal government. You may complete the business grant application process on grants.gov and get reply within 2-3 days. For this, do the following:
- Avail the DUNS number by accessing Dun and Bradstreet website
- Register with SAM or System Award Management. Authorize your organization and then avail Employer Identification Number. You may obtain EIN number from the Department of Finance.
- Complete your AOR profile or Authorized Organization Representative to create the user number and password.
- Log into the website and confirm that you are an Authorised Organization Representative
- Keep tracking the progress of your application by regularly logging into your account.
Time to complete the application form
On the Grants.gov website, read up everything about the grant eligibility and who can apply. The more information you collect, the better it is. Click on the ‘Application Package’ icon and download the application. If you want grants for your business, choose a grant that is organization-based. Enter all the details correctly. During the process, you also need to demonstrate that you are financially strong.
Keep tracking application status. In case of any problem, directly contact the governing body Small Business Administration. You may also investigate the government funding opportunity. It is easy to apply for business grant application but again it is wise to take professional help. Pursuing government business grant can prove beneficial.