Small Business Grants in Ohio
Ohio, the Buckeye State, is one of the most commercially favorable states in the US. Currently, there are more than 192,790 private businesses in the state. Of this, around 184,300 enterprises are classified as small businesses with less than 100 employees.
Nearly 24,790 businesses in Ohio are from the Professional Technical and Scientific Services sector. Around 14,080 businesses belong to the Administrative and Public Support sector while more than 28,760 businesses are non-categorized.
To promote commercial growth in the state, there are several state- and federal-funded grants for small businesses in Ohio. In this article, we shall look at some of the most popular and prominent small business grants in Ohio for 2023.
Best Small Business Grants in Ohio
Small business grants are financial assistance provided to local businesses, usually those with less than 100 employees. This is financial aid and the amount does not need to be repaid by the recipient. It is usually meant to support the growth and development of local businesses.
The grant amount can be used for different purposes, such as starting a new business or funding research and development for new products or technologies.
Here are the top small business grants in Ohio 2023:
1 – Food Supply Chain Guaranteed Loan Program
It comes under USDA’s build-back batter initiative to create a strong food supply chain system. This program offers up to $40 million in loans for qualified lenders related to the food supply chain business.
The Food Supply Chain Guaranteed Loan Program’s primary objective is to strengthen the food system. It supports new investments in Food manufacturing, processing, transportation and wholesaling, etc.
To learn more about the Food Supply Chain Guaranteed Loan Program, you can check the official website.
2 – Ohio SBDC (Small Business Development Center) Export Assistance Grants
The Ohio SBDC provides Export Assistance Grants to small businesses. It is aimed at helping small business to extend their reach in the market with international exporting. The grant amount can be used for various purposes.
For instance, eligible small business owners can use the SBDC grant money to cover different types of expenses related to exports, such as getting international certifications, participating in trade seminars, and doing market research.
The Export Assistance Grant from Ohio SBDC helps small businesses to manage financial obstacles that come with exporting. It also helps small businesses to enhance their presence in the global trade market.
To find more details about the Ohio SBDC Export Assistance Grant, you can check out the official website.
3 – Ohio Third Frontier Program
Ohio Third Frontier programs are initiatives to support technology-based economic development. There are different types of grants offered under this initiative.
For instance, the TVSF (Technology Validation and Start-Up Fund) provides financial assistance to research organizations in the state and to start-up companies. It is mainly aimed at validating and commercializing new technologies so that they can be marketed to consumers.
The ESP (Entrepreneurial Services Provider) program provides financial grants to support entrepreneurial service providers that work with technology-centered start-ups and small businesses. The grant money can be used for business development, accessing capital and mentoring.
4 – Fearless Strivers Grant
The Fearless Strivers Grant is a private financial grant aimed at small business digitalization and development. This grant offers $10,000, which is meant to purchase and integrate digital tools that can help get the business online and sustain it.
It also offers one-on-one mentorships to boost business development. This grant is mainly aimed at supporting women-owned and minority-owned small businesses in Ohio.
You can find more details about the Fearless Strivers Grant in Ohio by clicking on this official website at https://www.fearless.fund/strivers-grant-contest.
5 – Restaurant Disaster Relief Fund
The Restaurant Disaster Relief Fund is a rolling type of financial grant offered by the Hello Alice Foundation. It offers around $10,000 in grant amount to help restaurateurs recover from natural disasters by offering financial support.
This initiative was formed through a partnership between Hello Alice and DoorDash to support restaurants that are affected by natural events, such as floods, fires, and hurricanes.
To learn more about the Restaurant Disaster Relief Fund in Ohio, you can check out the official link here https://helloalice.com/grants/doordash/.
Here are the 2023 five best small business grants in Ohio. These financial grants are to support establishing, developing, and growing small business enterprises. There are different eligibility criteria to qualify for these grants. So make sure to check the official links and learn the specific application and eligibility process for the grant in question.
Interactive US Map for Small Business Grants