Georgia Small Business Grants – Overview
No matter what type of business you own, there’s a funding opportunity for your business to grow at a rapid pace.
Government Grants are designed for enterprises of all sizes, especially for small businesses that need additional funds to meet the demands of their customers.
Georgia Small Business Grants listed below will help you get financial aid through government and private entities to boost your business.
The same resources would help all the affected businesses due to the pandemic last year.
5 Types of Georgia Small Business Grants?
Businesses of different sizes are facing financial crises due to the coronavirus pandemic and its effects. In the state of Georgia, small businesses are affected widely.
There are special programs designed for small businesses through Small Business Administration i.e. SBA. They have Coronavirus Relief Fund, Coronavirus Aid, and Funding through the Cares act.
All of these programs are temporarily open for small businesses across the US. However, there are several other funding opportunities available for businesses in Georgia.
The following list includes the grants offered by SBA as well as the grants offered by NGOs and private entities for small businesses.
1. SBA Grants
SBA grants are funded by the Federal Department to boost the country’s economy by providing financial support to small businesses.
They provide grants to the microbusiness section as well as the small business section. The grant money starts from $50,000 to $250,000 depending upon the size of the business.
Every applicant needs to follow the procedure before they receive the funds. They have to present certain documents, including the gross income receipts of previous years.
For more information, check out the official portal where they have presented everything about the grants that are open for small businesses.
2. Grants from Private Company
A renowned private company named Georgia Specific offers grants for small businesses and their new projects. This company is known for providing financial support to minorities.
If you come from a minority and own a small business that needs additional funds to run, then Georgia Specific is the right choice for you.
This way, they can help minorities who can grow their lifestyle and can support their families at the same time.
3. Rural Business Opportunity Grants
Just like urban areas, businesses in rural areas are also important for a country’s economy. Rural businesses share an equal percentage of growth of any country.
The US Department of Agriculture, therefore, provides financial support to agriculture-related businesses across the US.
Georgian farmers and businesses associated with farming or agriculture should apply for a suitable grant from the official website of the USDA.
All types of institutions are open to avail the grant money, including rural American Indian tribes, cooperatives, nonprofit corporations, etc.
Grant of up to $500,000 is offered for training and business assistance to government and private organizations through this department of the US Government.
Besides this, for agriculture products, export and import, rural businesses can avail the low-interest or no-interest loans from the Government’s Export-Import Bank of the United States.
Head over to their official website for more information about the loan and how you can apply for it.
4. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR)
Small Business Innovation Research and Small Business Technology Transfer programs are offered by the Government under their Small Business Administration department.
These are the highly competitive programs in which businesses of all sizes can participate and receive financial aid.
These grants help businesses that can work with the federal department’s research programs.
It also includes research institutes from non-profit organizations for developing new business opportunities by producing innovative products for the citizens.
To receive the SBIR or STTR grant, the applicant needs to pass through three phases.
For more information about how to apply for these grants and how you can complete the three phases for financial support, visit their official portal now!
5. Other Financing Opportunities for Small Businesses of Georgia
There are several other financing opportunities present for small businesses in Georgia.
Most grants offered by states are for new entrepreneurs, however, the below-listed grants are available for all types of businesses actively operating in the state of Georgia.
- State loans for green businesses are available for businesses associated with the environment or environmental products.
- Loans from the SSBCI i.e. State Small Business Credit Initiative. This government section provides financing solutions to micro and small businesses. It is funded through the Government’s Department of Treasury.
- Loans from Non-profit Organizations and Private Organizations
- Early-stage loans from Small Business Investment Companies that invest huge monies to help small businesses grow. They also seek benefits from their growth or acquire the entire company as they grow.
- The Innovation Research Grant from Small Businesses by producing innovative ideas for businesses.
Georgia Small Business Grants’ official portal is updated recently with several opportunities for all types of enterprises.
Small enterprises should explore the listed grants on the official portal to identify their business category and apply for it.
All the required information about the funding opportunities, their official websites, and how you can apply for them are listed on the portal itself.
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