The pandemic has ushered in a difficult time in this world. In fact, the hardest-hit section is that of business. However, the worst sufferers are small business owners and entrepreneurs. In fact, many small businesses have pulled down their shutters due to the economic crisis. Therefore, many organisations have stepped forward to provide grants and funds to help those in crisis. The Caress Dreams Fund is one such initiative.
Apart from this, there are certain other funds that are available for both fresh start-ups and existing small businesses. read the article to know more about the grants that are open for applications.
The Available Grants
Here is a list of available grants that eligible ones may apply for:
Fresh Start Business Grant By Incfile
Incfile has announced some grants to help fresh businesses. This grant is open to fresh businesses and also to seasoned entrepreneurs who are starting new ventures. The selected candidate will receive $2,500 to spend on startup expenses. Moreover, the candidate will also receive free formation services from Incfile. However, Incfile has placed a few criteria for the applicants. An eligible candidate must be a U.S. citizen of at least 21 years.
In order to apply, one has to fill out an online application, adding a short video and a business plan. The first deadline closed on 30th June 2022. However, there is no need to worry as the additional rounds will end on September 30 and December 31.
Young Entrepreneur Scholarship Grant By Incfile
Incfile has also launched a scholarship grant for student entrepreneurs. A grant sum of $2,500 will be awarded to a high school senior, undergraduate, graduate, or trade school student in the U.S. Again, there are a few eligibility criteria. The applying student must have a 3.0 GPA or higher. The student must also be interested in starting a business. In order to apply, an eligible student has to fill out an online application, adding a short video and a business plan. The deadlines are the same as that of the Fresh Business Grant.
Caress Dreams Fund
The Caress Dreams Fund is another essential funding program. It aims to support businesses owned by women of colour. The IFundWomen of Color platform runs the Caress Dreams Fund program. The invested amount totals $1 Million. Each grant under the program will be $5000. In addition, the program will also provide a business accelerator, coaching, creative services, and educational resources. The applications for the Caress Dreams Fund are open till 8th July.
Nashville and Davidson County Small Business Grant
Nashville and Davidson County recently launched an $18 million grant and loan program for small businesses. An eligible applicant must not have more than 50 full-time employees and should have a physical address in Davidson County, with annual revenue between $10,000 and $1,000,000. The 31st of July has been set as the deadline for applications.
New Jersey Small Business Fund
The New Jersey Economic Development Authority launched NJ Small Business Fund back in February. However, they are still offering grants that cover up to $50,000 or 50 percent of costs for eligible improvement projects. An eligible applicant should be a small business owner in New Jersey. The fund is open for applications as of now.
These are a few funds that are open for applications at the present moment. If interested, you may apply as per the eligibility criteria.