The other day I stumbled across one of the coolest ideas for a grants program I had ever seen. And since interesting grants for business are usually pretty hard to come by, I wanted to share that here with you. Most people who start their own business never find any actual grants. For that reason, I’ve also given some information here on economic development agencies and loan programs that supply support and funding for new business owners.
Intuit Small Business Big Game
Call this one part grants program one part weekly contest. Intuit, the maker of QuickBooks, is giving away 25 individual $1,000 small business grants and many other prizes on a weekly basis. One small business will even be selected to have its very own commercial during this year’s Super Bowl. There are hundreds of other prizes given away each week. Win free advertising through Google and Facebook, a free year of QuickBooks and more. The way it works is pretty cool too. Register for the contest by creating a profile about your own business. Your profile will immediate gain exposure for your business on the national website. Lobby for votes through your social networking as profiles with the most votes will be considered for the biggest prizes. Eventually Intuit employees will select a final four and the public will choose the winner for the Super Bowl ad. Oh and did I mention that someone will also win airfare to New York, accommodations and tickets to the big game in a random drawing just for entering?
State and Local Economic Development Agencies
The vast majority of businesses are local. And so is the support offered to them. Every state funds economic development agencies that support their area businesses. Many larger cities have them as well. This is a great place to turn when trying to get a business off the ground and search for funding. Turn to your economic development agency for training and assistance finding loans and grants. Your local agency can even help you pick your location and will work with you to help attract new employees. The SBA provides a listing of state agency websites to assist you in finding local support. Call your city and county governments as well to inquire if there is also a local business support program in your specific city or town.
SBA Loan Programs
The U.S. Small Business Administration doesn’t offer grants. Instead it administers several loan programs. These pair borrowers with lenders that provide loans regulated by the SBA. There are four different types of business loans being offered:
If you are a new business owner, the SBA recommends that if you have a strong passion for the business you want to start and are prepared with a good business plan that you are far better off seeking a business loan rather than burning time seeking government grant funding.
Grants Guys Business Grants
At Grants Guys, we often cover grants that support businesses. Check out our full listing of articles in our category for business grants.
Category: Business Grants