List of Small Business Grants in Idaho

Idaho is a leading state in agriculture and small-scale businesses. It supplies a significant portion of the United States’ potato supply.

Idaho has significant industries, such as wood production, lumber, paper, food processing, chemical products, mining, and tourism. It also offers the most competition for business and ranks 10^th on Forbes’ yearly “Best States for Business” listing.

The small businesses have been pivotal in revolutionizing the state’s economy. Idaho is in the top three states with the fastest-growing market for jobs in the small business sector.

In 2021, small businesses in Idaho contributed 773.8 million dollars to the state economy. Small business owners in Idaho have an annual median income of around $33,000 to $54,000.

The state and federal government, as well as local charities and organizations, regularly offer different types of grants and funds to boost the small business sector in Idaho.

Grants for Small Businesses in Idaho

Currently, there are over 37,480 small businesses in Idaho. The state and federal governments offer around 65.6 million dollars in grants to small businesses in Idaho.

Here’s a quick look at some of the most prominent small business grants in Idaho:

1. Idaho Commerce Grant

The state government offers the Idaho Commerce Grant. It gives financial grants to eligible small businesses in Idaho. The eligibility criteria require the business to be a for-profit establishment with less than 500 employees, besides being located within state boundaries.

The criteria also dictate that the applicant’s business should deal with promoting economic development in the state of Idaho.

You can apply for the Idaho Commerce Grant by filling out the online application form at the official website.

2. SBA (Small Business Administration) Grant

The federal agency Small Business Administration (SBA) also offers various types of financial aid and grants to support small business growth in Idaho. The SBIR (Small Business Innovation Research) program offers funds for small businesses to research and develop new products, including devices and technologies.

The eligibility criteria for the SBA grant require for-profit businesses with less than 500 employees and should be situated in the United States. The business applicant must be engaged in research and development.

You can find more details of eligibility criteria for the SBA grants for small businesses in Idaho and apply online at the official website.

3. Small Business Development Center Grant

The SBDC (Small Business Development Center) in Idaho, run by the state government, offers financial grants for the growth of small businesses.

The eligibility criteria for the SBDC grant in Idaho require an applicant to be a for-profit business with less than 500 employees situated in the state and involved in small business development.

You can apply for the Small Business Development Center grant for small businesses in Idaho at the official website.

4. Department of Labor Grant

The Idaho Department of Labor is another state-run agency that offers funds to support various types of small businesses in the state. The Idaho Job Creation initiative is part of the IDOL’s support program. This grant is offered to eligible small businesses that actively generate jobs for residents in Idaho.

The eligibility criteria for the IDOL grant require applicants to be a small business located in Idaho, with not more than 500 employees. The funding is focused entirely on small businesses that actively generate new jobs and support the growth of the job market in the state.

You can find more information about the Idaho Department of Labor small business grants by visiting the official website.

5. State Trade Expansion Program (STEP) Grant

The Idaho State Trade Expansion Program grant is also offered by the SBA (Small Business Administration) and run by Idaho Commerce.

The STEP grant program aims to expand the state’s export market. It supports small businesses that export and offers to enhance the value of exports and create new trade opportunities.

There is a list of strict eligibility criteria for the STEP grant in Idaho. You can find the detailed criteria and online application portal at the official link.

6. Idaho Global Entrepreneurial Mission (IGEM) Grant

The IGEM grant aims to support Idaho’s scientific research and development industry. It mainly funds private sector businesses and university researchers who develop promising new technologies and products for the local and global market. This grant helps develop new business ventures to generate high-value jobs and products.

You can check out the official link to learn the eligibility criteria and how to apply for an IGEM grant for small businesses in Idaho.

Conclusion

There are various types of grants for small businesses in Idaho. Most are offered by state—or federal-run agencies. The significantly lax eligibility criteria ensure that most applicants receive grants to develop small businesses in the state. Make sure to read the specific criteria for every individual grant before applying.

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List of Small Business Grants in Idaho