The SBA, Small Business Administration is providing current update information on Grants for small business loans.
According to current information from the SBA Small Business Administration, the SBA does not provide grants for starting and expanding a business.
The Small Business Administration indicates that Grants are Federal Tax dollars which require stringent compliance and reporting measures, and grants are not passed out “indiscriminately”.
The SBA has the authority to make grants to non-profit and educational organizations, but does not have the authority to make grants to small businesses. Grants by the Federal Government are authorized and appropriated by Congress and signed by the President of the United States. Counseling and training grants will appear on Grants.gov. If Congress authorizes specific initiative grants, the SBA will notify such organization.
Some business grants are available through local and state governments. As an example, some states provide grants for expanding child care centers, helping develop energy efficient technology and developing marketing programs for tourism. Even in these cases, the grants are not free money and require matching funds from the grantee, or to combine it with other forms of financing.
For organizations that do not fall in one of these areas, there are Federal and State agencies that provide small businesses assistance to obtain loans.
U.S. Department of Commerce – Helps american businesses become more innovative at home and competitive abroad.
U.S. Bureau of Economic Analysis – Provides statistics on consumer spending, corporate profits, travel and tourism and much more.
International Trade Administration – Creates jobs and economic growth by promoting U.S. companies abroad to governments in other countries.
Thank you for visiting our SBA grant resources update page!