Starting a small business can be a daunting task, especially when it comes to securing funds. Notably, this article sheds light on three lesser-known financial opportunities that could significantly benefit small business owners. The first grant, the Amber Grant, was created to help women entrepreneurs. Given out monthly, this grant awards $10,000 to one female entrepreneur and an additional $25,000 at the end of the year to an annual recipient. Focusing on women creates a unique support system for aspiring businesswomen.
Another notable program is the Veteran-Owned Business Grant. Tailored specifically for military veterans, this funding aims to help ex-service members transition into business ownership. Various veteran-assisted programs provide different amounts of funding which can be a welcome relief for those who have served their country.
Lastly, the Rural Business Development Grant offers support to small businesses operating in rural areas. Administered by the U.S. Department of Agriculture, this grant program aims to boost economic development in less populated regions. Business owners should develop a detailed proposal explaining the need for funding and how it will benefit the community. Each of these grants and loans has distinct eligibility criteria which businesses must meet to qualify.
Read the full story by: Barchart