Small Business Grants in Alabama

Small Business Grants in Alabama – Overview

American Small Businesses seek financial help from government-backed programs and grants offered by NGOs and private entities to rebuild their business model affected by the coronavirus pandemic.

Some business owners take low-interest loans from third-party providers to support their businesses. Covid-19 has disturbed every single industry across the globe.

To streamline businesses, the government is providing financial help through grants.

Alabama Small Business Grants are listed at for those who live in Alabama and are searching for resources to get financial aid.

Small Business Grants in Alabama

Innovate Alabama has opened applications for the fourth round of the Innovate Alabama Supplemental Grant Program.

The Innovate Alabama Supplemental Grant Program has infused more than $9 million in 50 innovative small businesses in Alabama.

We all know the negative impact of the Coronavirus Pandemic across the country. Small businesses are most affected for several reasons.

Since they do not have any funds left, they can’t regain their employees or the place rented before the lockdowns, etc.

By receiving money through such government-backed grants, they can repay their rent, complete the payrolls, and buy the raw materials to run or reboot their business.

Eligibility for Small Business Grants in Alabama

The Revive Plus grant program is a government-backed program designed to revive the economy.

Since small businesses are hard-hit, they need additional support from the government. This grant welcomes businesses with less than 50 employees.

Eligible applicants have an active Phase I or II SBIR or STTR grant. Phase I recipients can apply for 50 percent of their award up to $100,000. Phase II recipients can apply for 50 percent of their award up to $250,000. Unlike other grants, the Revive Plus grant is fully independent.

If you have received grant money from any other government-backed grant for your small business, you can still receive $20,000 through the Revive Plus grant in Alabama.

The money was insufficient to support thousands of small businesses destroyed due to the pandemic and its post-effects. For that reason, the governor of Alabama has declared the $200 million grant for the citizens.

In Alabama, people, faith-based organizations, small businesses, and non-profit organizations are all eligible for financial aid through this grant. However, the funds were not enough to meet the citizens’ demands.

Several state funding opportunities are available for small businesses and other NGOs that need financial assistance from the government.

You may check the available resources and financing opportunities in Alabama from here. The link will provide you with the required information to apply for a grant or low-interest loans based on your business size and eligibility.

How About Government Funded Small Business Grants in Alabama?

If we talk about other government grants available for small businesses, then there is an official portal for Small Businesses for the entire US i.e. SBA- Small Business Administration.

The SBA portal offers a variety of grants for eligible small businesses across the US.

Recipients of Phase I and Phase II Federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants can apply for up to $250,000 in supplemental funding through the Innovate Alabama Supplemental Grant Program.

Some private entities also provide grants for innovations and new technology.

Finding out the right government agency from which you can receive the funds can be a little challenging task.

Since government agencies have limited funds to distribute, one must research their criteria and requirements to apply for the grant money easily.

The competition for receiving the grant fund is very high and for that reason, deep research and proper guidance from an expert is needed.

Small Businesses can participate in competitions to win awards, such as grants of direct funds to their bank accounts to support their business.

Different competitions have different rules. One must read their documents thoroughly before applying or becoming a participant.

Check out the list of Pitch Competitions in Alabama for more information.

What are Pitch Competitions for Small Business Grants in Alabama?

Pitch Competitions are a set of competitions available for every individual in Alabama.

The competitions are there to provide direct financial help through prize money or grants. The awards or prize money range from $500 to $50,000.

The above-given link will give you information about the available Pitch Competitions for small businesses in Alabama.

Besides, some private entities encourage small business owners to rebuild their businesses by seeking financial aid.

Private sector grants are available for certain types of businesses in Alabama. Like the pitch competitions, eligible applicants must compete to win the prize money.

There are many other resources available for small businesses that need financial support.

Financial support is crucial, especially during pandemics. Small businesses must research well on the web as almost all the grants and loans-related information is available.

Private entities have websites with all the information you might want to know. You can even apply to the grantor to participate in the competition right from their official web portal.

You can head over to the Alabama Small Business Development Center’s official website, where you can get all the information about Government grants, private entity grants, pitch competitions, and more.

The portal describes everything you need to know about growing your business faster through direct help from the available entities.

Interactive US Map for Small Business Grants

See Also

Massachusetts Small Business Grants

Dental Grants in Alabama

Maryland Small Business Grants

Small Business Grants for Women

Business Grants for Veterans

Current Version
April 3, 2024
Updated By
Andrea Morales G.
November 30, 2021
Written By
Shubham Grover

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