Small businesses can use different types of support when starting up or dealing with challenges. This can be direct grants or economic support through the community. A new grant funded by State Farm provides economic support to several communities across the US
Learn more about that program and more small business grants below.
State Farm LISC Grant Partnership
State Farm distributes grants through its partnership with the Local Initiatives Support Corporation. The National Nonprofit Community Development Organization focuses on fostering economic opportunity in underserved communities. And State Farm is supporting that mission with a new $2 million grant. Some of the funding will go to general community development initiatives. But others can support businesses in the communities LISC serves through programs such as financial opportunity centers and commercial corridors. This latest round of funding will focus on resources in 12 metropolitan areas, including Atlanta, the Bay Area, Central Illinois, Chicago, Houston, Indianapolis, Milwaukee, the Twin Cities, New York, Philadelphia, Phoenix and Puget Sound.
Washington DC Medium Business Growth Fund
Washington DC recently launched its Medium Business Growth Fund to maintain and expand business across the district. The program supports capital improvements, major equipment purchases, and technical improvements. To qualify, companies must have no more than 100 employees and generate less than $15 million in annual revenue. The fund focuses on companies in four categories, including retail, local manufacturing, small business investment projects and technological advancement. Both new and existing companies can apply before the May 27 deadline.
Olean Marketing and rental subsidies
An Olean, New York grant program supports local small businesses with $100,000 in aid. Small businesses can apply for funds to cover various marketing costs, such as logo design, e-commerce, and advertising. The city also offers an additional $100,000 grant program to help businesses with rent. Eligible businesses can apply for grants that cover up to 25 percent of their rental costs for up to two years. Companies can apply for up to $5,000 for each program. There are several rounds to give companies ample opportunity to apply. The first deadline is May 13, followed by additional rounds ending on June 10, July 15, and August 12.
In and around Illinois Banterra Bank Preserve Southern Illinois Grant
Landmarks Illinois and Banterra Bank team up to launch a new grant program in Southern Illinois. The Landmarks Illinois Banterra Bank Preserve Southern Illinois Grant will award grants to companies that renovate or preserve historic buildings in the area. Individual grants can fall between $500 and $2,500 and cover costs over a two-year period. The first round is scheduled for this summer and the deadline is July 15.
Trinity County Small Business Grant Program
Trinity County, California is supporting small businesses affected by COVID-19 through a new grant program. Grants up to $25,000 are available for companies with between 6 and 20 employees. Companies with one to five employees can apply for up to $10,000. In addition, companies must be operational at least since March 2020, have a physical location and demonstrate financial damage as a result of COVID. The application is now available online.
PfCares Small Business Grant Program
Pflugerville, Texas provides $920,000 in American Rescue Plan Act funds to support local small businesses. This is actually the second round of the PfCares Small Business Grant Program. But this time there are less strict entry requirements. For example, companies without staff can submit an application and more locations are eligible for financing. During the first round, 31 companies received grants ranging from $20,000 to $75,000. This next round is expected to start in May.
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