Small-Business Grants: Where to find free funding

Funding your business isn’t confined to loans and lines of credit. While many of us have heard of grants (money that doesn’t have to be paid back) in other areas of our lives (i.e., college), we never think to look into similar options to assist in the formation/growth of our personal companies.

Below you will find 3 options for grants available in 2024 that may help to assuage some of the expenses that come along with operating and/or launching your small business. 

1. Small Business Growth Fund Grant

The Small Business Growth Fund, a partnership between the Global Entrepreneur Fund and Hello Alice and funded by Etsy and Progressive — is an annual program designed to help entrepreneurs grow their operations.

This year, the program will award grants between $5,000 and $25,000 to for-profit U.S.-based businesses that had less than $1 million in gross revenue. Winners for the last round were announced in November 2022. Availability for 2024 will be announced soon.

2. Amazon Small Business Grant

The annual Amazon Small Business Grant program offers grants to small businesses that have an Amazon Business account and $1 million or less in annual revenue. The program offers grants to 15 businesses, ranging in amounts from $15,000 to $25,000.

Winners can also receive a one-year membership to Business Prime and free products from eero Wifi and Kindle Scribe. Recipients for the 2023 cycle were announced in July 2023. Availability for 2024 will be announced soon.

3. Amber Grant (Women Only)

WomensNet offers the $10,000 monthly Amber Grant and awards two $25,000 grants on an annual basis. The foundation also gives additional free funding throughout the year. To qualify for any of the grants offered by WomensNet, businesses only have to fill out a single application. Startups and existing women-owned businesses are eligible.

4. FedEx Small Business Grant Contest 

The company’s annual grant competition awards over $300,000 to 10 small businesses, including a $30,000 grant and $1,000 in FedEx print credits to its grand prize winners.

The contest is for U.S.-based, for-profit small businesses with fewer than 99 employees. You must also have a valid FedEx business shipping account number and currently ship with FedEx to apply. The next cycle will open in the coming quarter of 2024.

Some of the most common types of small-business grants include government grants (i.e., federal, state and local, nonprofit, corporate or private, as well as emergency and hardship grants). It should be noted that priority is atypically given to businesses in rural or low-income locations or those run by women or minority groups. We recommend you read each grant's complete eligibility criteria before applying to understand if your business qualifies.

Numerous grants are offered every year and we recommend that you take advantage of any that you and your business may qualify for in order to maximize your business funding options.

What do you say give it a try & see how much free money you can get!

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