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Small businesses can use various types of support when getting started or dealing with challenges. This may include direct grant funding or economic support through the community. A new grant funded by State Farm offers economic support to several communities throughout the U.S.
Read about that program and more small business grants below.
State Farm LISC Grant Partnership
State Farm is distributing grant funding through its partnership with the Local Initiatives Support Corporation. The national nonprofit community development organization focuses on boosting economic opportunities in underserved communities. And State Farm is supporting that mission with a new $2 million grant. Some of the funding will go toward general community development initiatives. But others may support businesses in the communities LISC serves through programs like financial opportunity centers and commercial corridors. This latest round of funding will focus 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 D.C. Medium Business Growth Fund
Washington D.C. recently launched its Medium Business Growth Fund to retain and expand business activity throughout the district. The program supports capital improvements, large equipment purchases, and tech enhancements. To qualify, businesses must have no more than 100 employees and generate less than $15 million in revenue annually. The fund focuses on businesses in four categories, including retail, local manufacturing, small business investment projects, and technology advancements. Both new and existing businesses can apply before the May 27 deadline.
Olean Marketing and Rent Grants
An Olean, New York grant program is supporting local small businesses with $100,000 in aid. Small businesses can apply for funds to cover various marketing costs like logo design, e-commerce, and advertising. The city is also offering an additional $100,000 grant program to help businesses with rent. Eligible companies can apply for grants that would cover up to 25 percent of their rent costs for up to two years. Businesses can apply for up to $5,000 under each program. There are multiple rounds to give businesses plenty of opportunities to apply. The first deadline is May 13, followed by additional rounds closing June 10, July 15 and August 12.
Landmarks Illinois Banterra Bank Preserve Southern Illinois Grant
Landmarks Illinois and Banterra Bank are partnering to create a new grant program in Southern Illinois. The Landmarks Illinois Banterra Bank Preserve Southern Illinois Grant will award grants to businesses that renovate or preserve historic buildings in the area. Individual grants may fall between $500 and $2500 and cover expenses over a two-year period. The first round is slated to launch this summer, and the deadline will be 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 of up to $25,000 are available for businesses with between 6 and 20 employees. Businesses with between one and five employees can apply for up to $10,000. Additionally, businesses must be in operation since at least March 2020, have a physical location, and demonstrate financial loss due to COVID. The application is available online now.
PfCares Small Business Grant Program
Pflugerville, Texas is offering $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 stringent eligibility requirements. For example, businesses without employees can apply, and more locations are eligible for funding. During the first round, 31 businesses received grants ranging from $20,000 to $75,000. This next round is expected to launch in May.
This article, “State Farm Funding $2 Million in Small Business Grants” was first published on Small Business Trends