Do you have a small business or trying to start one? If so, you are probably familiar with the challenges that come with being an owner. Between different monetary assets such as the building, employees and equipment, businesses come with high fees. In order to stay afloat and sustain operations, there needs to be sufficient capital. Most individuals save up enough funds to start, but eventually look for additional sources of revenue. The top resource available to small business owners or start-ups are grants. Grants allow companies to propel financially. This allows them to grow their business, make building and equipment repairs, or fund other necessities. Grants also take precedent over a loan because the company will never have to pay the money back.

Finding Opportunities

There are many different grants out there for businesses. In order to find a grant that would be a good fit for your company, it might take some research. Many grant opportunities have strict requirements, that must be met in order to apply. To see a full list of grants click here. This resource will be significant in narrowing down the best opportunities for you.

Applying

After finding an opportunity, it is time to complete the application. This consists of writing a business proposal. This plan and the way it is written is crucial. It puts everyone on the same page in terms of who your company is and what they do. It also provides insight into their future plans. A business proposal should include specifics on how your company would use the grant money if approved and why they need it. Other components to include:

• Title Page
• Cover Letter 
• Executive Summary
• Proposal
• Budget and Pricing

If you find yourself needing more guidance on formatting, this site provides free business proposal templates: https://www.jotform.com/pdf-templates/proposal. Formatting a proposal can have a creative unique flare depending on your company. Although the information inside the proposal is most significant, having a professional layout or presentation is an added bonus.

Grant proposals are time consuming to write and take a while to hear back. The wait time to receive an answer will vary on where you submit your proposal. It can range from 3 to 12 months. If you are seeking immediate funding look into loans and other programs for faster opportunities. Below are trusted resources to find funds faster.

• https://www.sba.gov/funding-programs/grants/grants-programs-eligibility
• https://www.govloans.gov/categories/business-loans/