Small Business Grants in Texas
Apart from being one of the larger states, Texas is also one of the most prosperous in the country.
According to reports, the state has received over $55,670 million in grants, with nearly $35,330 million in local funding. (1)
Most of these funds are put to help boost small, family-owned businesses in Texas.
This is an effort to strengthen the economic foundation of the state.
Starting a new business anywhere can be tough. In 2023, there were 459 bankruptcy filings in Texas. The reasons may vary.
However, lack of sufficient funding remains one of the significant factors that cause small businesses to fail to launch successfully.
If you are an entrepreneur or own a small-sized business in Texas, you’ve come to the right place.
In this article, we shall outline some of the best sources to secure small business grants in Texas.
Top 4 Small Business Grants Texas
Let’s take a look at the top sources to secure small business grants in Texas:
1 – Head Start / Early Head Start Recipient – Communities in the State of Texas
The US Department of Health and Human Services (DHHS), along with the Administration for Children and Families – OHS offers public funding through its Head Start/Early Head Start Recipient – Communities in the State of Texas initiative.
The eligibility criteria for this small business grant include:
- State governments
- County governments
- Township/City governments
- Independent school districts
- State and public-controlled institutions of higher education
- Native American tribal governments (Federally recognized)
- Public housing authorities
- Indian housing authorities
- Nonprofit organizations with/without 501(c)(3) status with IRS
- Private institutions of higher education
- For-profit organizations
- Small businesses
This small business grant in Texas awards 2 selected recipients every year. Each successful applicant is set to receive up to US$ 5,200,163 in funding.
To learn additional details of the application process for this small business grant in Texas, you can visit the official website at https://www.usgrants.org/sign-up.
2 – American Indian / Alaska Native Head Start Grantee
The American Indian/Alaska Native Head Start Grantee (Polk County, Texas) is a combined initiative by the US Department of Health and Human Services (DHHS) and the Administration of Children and Families – OHS.
The eligibility criteria for this grant include:
- County governments
- State governments
- Township/City governments
- Independent school districts
- State or Public-controlled institutions of higher education
- Native American tribal governments (Federally recognized)
- Public housing authorities
- Indian housing authorities
- Native American Tribal organizations (apart from Federally recognized tribal governments)
- Nonprofit organization with/without 501(c)(3) status with the IRS (except higher education institutes)
- Private institutions of higher education
- For-profit organizations
- Small businesses
The department offers this grant to only 1 (one) recipient each year. The lucky recipient received up to US$ 754,200 as funding to boost their small business.
3 – Business Investment Growth – Big Austin
Big Austin is certified by the US Department of Treasury as a CDFI (Community Development Financial Institution). It has been engaged in the unique financial needs of new and budding entrepreneurs through loans.
This is a local, nonprofit micro-lender and offers a streamlined process for loan applicants. This makes Big Austin a top choice for small business loans in Texas.
Under this initiative, a startup business being operated for less than 3 months can receive as much as US$ 15,000 in the loan amount.
Existing small businesses, which have been running for over 12 months, can receive up to US$ 50,000 in fund amount.
These loans have a payback period ranging between 1 to 6 years. Recipients can choose to repay the minimal direct costs related to the loan process.
4 – Capital CDC’s SBA 504 Loan Program
The Capital CDC offers various types of small business loans in Texas. These loans aim to grow the local economies by providing small businesses with affordable, commercial real estate financing.
This platform also allows you to apply for and receive long-term real property SBA 504 Loan or the 7(a) Community Advantage Loan. The website also offers an in-depth guide to navigating the loan application process too.
To learn additional details about this small business loan opportunity in Texas, visit the official website at https://www.capitalcdc.com/resource-center/information-for-small-business-owners.
Conclusion
These are the top four places to seek small business grants in Texas. There are many others where you can seek low-interest commercial business loans for your startup or small business.
You can do a quick online search and find the nearest resource that offers small business grants in Texas.
However, make sure that you fulfill all specific eligibility criteria before applying for any small business grant or loan in Texas.
See Also
Covid 19 Small Business Grants
Illinois Small Business Grants
Small Business Grants in Florida
Small Business Grants in Alabama
Small Business Grants for Women
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