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Indiana has about 590,000 small businesses that can apply for small business grants. Submitting an application and competing for Indiana small business grants can help you grow your small- or medium-sized enterprise in the Hoosier State.

Indiana’s economy has a gross domestic product of $538.5 billion as of 2025. That’s the 19th largest GDP in the United States out of the 50 states and the District of Columbia. In every state, small businesses contribute to the nation’s economy.

Below we highlight some of the top small business grants in Indiana that you can explore.

Grants for Small Businesses in Indiana

If you’re looking for Indiana small business grants, here are some potential options to consider:

Federal Home Loan Bank (FHLBank) Indianapolis Elevate Grants

•   Program description: Elevate grants can help you grow your Indiana firm and cover costs related to small business expansion and workforce development.

•   Incentive: Eligible business owners can receive up to $20,000 to cover project expenses, such as technology enhancements, capital improvements, and workforce development.

•   General requirements: Here are some of the general requirements for this grant:

◦   Be a small, for-profit business headquartered in Indiana or Michigan

◦   Have current owners in place for at least 12 months

◦   Earn annual gross revenue of between $20,000 and $1 million

•   How to apply: Partner directly with an FHLBank member institution to apply when the annual access period begins.

City of South Bend Business Grants

•   Program description: The city of South Bend offers a variety of grants that may partially reimburse eligible businesses for making capital improvements.

•   Incentive: Eligible businesses can receive a matching grant of up to $20,000 for enhancing building façades or streetscapes in downtown South Bend. There is also a Vibrant Places grant of up to $112,000 for implementing an advanced sustainability project in selected corridors.

•   General requirements: Any business in South Bend may be eligible for a Vibrant Places matching grant. Businesses in the downtown area may be eligible for one Exterior Enhancement Grant per year.

•   How to apply: Visit the City of South Bend website for additional information on these grants and how to apply.

City of Madison’s Preservation and Community Enhancement (PACE) Grant Program

•   Program description: The PACE Grant Program provides matching grants to eligible property owners who rehab and improve the structural integrity of dilapidated buildings within the city of Madison, Indiana.

•   Incentive: The PACE Grant Program offers the following incentives in several categories.

◦   Curb Appeal Grant: up to $5,000 for improving the appearance of your residential or commercial property within the hilltop target area

◦   Rehabilitation Grant: up to $7,500 for rehabbing your downtown historic property

◦   Dangerous Buildings Grant: up to $10,000 for the full demolition of an unsafe property within the city of Madison

◦   Dilapidated Structures Grant: up to $25,000 for the partial demolition and rehabilitation of a dilapidated structure within the city of Madison

•   General requirements: Here are some of the general requirements for this grant.

◦   Own residential or commercial property in the city of Madison, Indiana

◦   Be current on all property taxes

◦   Have no current tax liens against the property

◦   Have no current litigation between you and the city of Madison

◦   Be willing to execute all legal agreements

◦   At least two years have elapsed since the property’s previous PACE grant funds were fully disbursed.

•   How to apply: Contact the PACE Review Committee or Madison’s Planning, Preservation, and Design Department if you’re interested in applying.

Downtown Danville Partnership Façade Improvement Grant Program

•   Program description: Businesses in Danville can receive partial reimbursements for making improvements to their storefronts and building exteriors.

•   Incentive: Receive up to $5,000 per grant for making exterior façade improvements to your commercial property in downtown Danville, Indiana.

•   General requirements: Here are some of the general requirements for this grant:

◦   Own a business in downtown Danville, Indiana

◦   Business is located within the boundaries of Clinton, Kentucky, Broadway, and Wayne streets

◦   Receive prior approval from the Town of Danville’s Design Review Committee

•   How to apply: Go to the Downtown Danville Partnership website to submit your application online.

Indiana Technical Assistance Program (INTAP)

•   Program description: Sponsored by the Indiana Small Business Development Center (ISBDC), INTAP helps small businesses execute necessary growth and improvement projects by bestowing annual grants for professional services. The goal is to help businesses secure the skills, expertise, and qualifications they need to complete a given project.

•   Incentive: Grant recipients are provided with professional and technical services worth up to $15,000. Funding goes directly to the vendor.

•   General requirements: Here are some of the criteria applicants must meet:

◦   Be a for-profit small business and SBDC client

◦   Have a physical presence in Indiana

◦   Work with an Indiana-based vendor

◦   Must have not received INTAP twice before

◦   Proposal does not involve facility improvements or marketing

•   How to apply: Contact a nearby ISBDC office to discuss how your proposed project might be suitable for INTAP.

Who Provides Indiana Small Business Grants?

Local governments, nonprofits, and financial institutions affiliated with the Federal Home Loan Bank of Indianapolis may offer small business grants in Indiana.

You can compare small business grants in Indiana with similar programs in other states, such as:

•   Florida small business grants

•   Michigan small business grants

•   NJ small business grants

Do You Have to Pay Back a Small Business Grant?

A small business grant typically comes with terms and conditions, and you may be responsible for paying back the grant if you violate those terms. In general, small and midsized business owners are not required to pay back an SMB grant absent any violations.

You generally have to sign a funding agreement to accept a small business grant. As mentioned above, the grant may come with certain conditions. Using the grant for an illegitimate purpose may violate the agreement and require business owners to pay back the grant.

Small business grants may require you to spend the money by a certain date. You may also have to provide proof of payment and a written statement detailing how you’ve spent the grant.

Recommended: What to Know About Short-Term Business Loans

Who Is Eligible for Indiana Small Business Grants?

You may qualify for Indiana small business grants if your business generates annual revenues of less than $1 million and you plan to implement a capital improvement project. Local business owners or operators of an enterprise with fewer than 500 employees may also be eligible for small business grants in Indiana.

The U.S. Small Business Administration’s Office of Advocacy generally defines a small business as an independent business having fewer than 500 employees. A small business, including individuals who freelance, may be eligible for small business grants.

Indiana Resources for SMB Owners Looking for Funding

Here are some resources for small and medium-sized businesses looking for funding in the Hoosier State.

Indiana Small Business Development Center (SBDC)

The Indiana SBDC is a statewide program that can provide Indiana’s small business owners with the following services:

•   Free access to market research reports

•   Business counseling at no cost

•   Workshops and training events

SBA District Office in Indiana

The U.S. Small Business Administration (SBA) is a federal agency that provides resources and support to small business owners. The SBA District Office in Indianapolis serves all 92 counties in Indiana.

SCORE Indianapolis Mentorship and Education

Serving greater Indianapolis, Terre Haute and surrounding areas, SCORE Indianapolis provides free business mentoring, no-cost workshops, marketing tools, and curated resources for all aspects of small business operations.

Alternative Funding Sources for Small Businesses in Indiana

Here are some alternative funding sources for small businesses in Indiana.

Indiana State Small Business Credit Initiative (SSBCI)

Indiana’s State Small Business Credit Initiative is a federally funded program for small business owners in the Hoosier State. Federal law — the American Rescue Plan Act of 2021 — allocates about $99 million to Indiana’s SSBCI program.

Here’s how Indiana plans to use the SSBCI funding:

•   Indiana Angel Network Fund: This program will help eligible startups access venture capital in the Hoosier State. Alongside co-investors, it provides equity capital directly to startups. Investments from the Indiana Angel Network may be up to $1 million per company and typically require a minimum 1:1 co-investment.

•   The Legend Fund: This loan fund investment program aims to help Indiana small business owners access small business loans by distributing money to local lenders. There is a focus on companies owned and controlled by members of historically underserved communities.

Recommended: Startup business loans

Indiana Microloan Lenders

The Indianapolis Chamber of Commerce’s Business Ownership Initiative and community-based nonprofits offer microloans of up to $50,000 to Indiana small business owners. In general, microloans can range from $500 to $50,000 and may be available to startups.

Indiana SMB Loans from Private Lenders

Banks, credit unions, and private lenders may offer different types of small business loans to Indiana small business owners.

Here are some of the funding products you may consider depending on your needs:

•   Commercial real estate loans

•   Equipment financing

•   Small business loans for startups

•   Working capital lines of credit

Recommended: Small Business Loans in Indiana

The Takeaway

There are a variety of grants available for Indiana small businesses, ranging from state or local governments to private businesses. It may take some research to find grants that match the description of your small business, but those are the ones you’ll have the best chance of winning.

If you’re seeking financing for your business, SoFi is here to support you. On SoFi’s marketplace, you can shop and compare financing options for your business in minutes.

FAQ

How do you get an Indiana small business grant?

You can apply for Indiana small business grants, but there’s no guarantee you’ll get approved for one. You may have to submit a grant application as a qualified small business owner to be considered for an Indiana small business grant.

How hard is it to get a business loan in Indiana?

You may have difficulty getting an Indiana small business loan if you have bad credit or insufficient business experience. You generally have to pay back business loans with interest.

What is the easiest SBA loan to get approved for?

There’s no guarantee you’ll get approved for any SBA loan, but SBA microloans may be one of the easier ones to get if you’re a new business owner. Startups may be eligible for SBA microloans of up to $50K. If you’re looking for a streamlined application process, SBA Express working capital loans are an option you may consider.

Can I apply for multiple grants in Indiana at the same time?

Indiana appears to have no universal rule about applying for more than one small business grant at the same time. Check each grant’s rules and eligibility requirements to see if multiple simultaneous applications are allowed.

Can minority-owned businesses in Indiana get special grant opportunities?

Hoosier entrepreneurs are eligible for national grants focused on minority-owned businesses, such as the NAACP’s national Powershift Entrepreneur Grant. Indiana-centric grants with this emphasis are harder to come by, but there are many Indiana procurement contracts for which minority-owned businesses are expressly encouraged to bid.

Photo credit: iStock/JLco – Julia Amaral

SoFi's marketplace is owned and operated by SoFi Lending Corp.
Advertising Disclosures: The preliminary options presented on this site are from lenders and providers that pay SoFi compensation for marketing their products and services. This affects whether a product or service is presented on this site. SoFi does not include all products and services in the market. All rates, terms, and conditions vary by provider. See SoFi Lending Corp. licensing information below.

This content is provided for informational and educational purposes only and should not be construed as financial advice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

SOSMB-Q325-006

Small businesses make up a substantial portion of the New York state economy. According to New York’s 2024 Annual Report on the State of Small Business, a full 98% of New York businesses have fewer than 100 employees, and just over 92% of the total have fewer than 25 employees.

To support small and medium-size businesses in the Empire State, New York offers a number of generous grant programs that can help entrepreneurs launch or grow their companies. Unlike small business loans, grants typically don’t have to be repaid. While competition for New York grants can be stiff, here are some New York State small business grants you may want to explore.

Small Business Grants in New York

If you’re looking for a small business grant to grow your business or fund a startup in New York, here are some options to consider.

Global NY Fund Grant Program

•   Program description: The Global NY Fund Grant Program, run by Empire State Development (ESD), can help you export your goods or your services from New York to foreign markets.

•   Incentive: Eligible businesses can receive up to $25,000 in reimbursement (up to 50% of project costs) for initiatives related to market customization, participation in trade shows, export workshops, or product adaptations to meet foreign regulatory requirements.

•   General requirements:

◦   Be a New York small business owner

◦   Have 500 or fewer employees statewide

◦   Be new to exporting or expanding your exports to new markets abroad

◦   Have at least 51% of the value of your goods or services originate in New York, or be certified as a local producer

◦   Business is at least 12 months old

◦   Have a demonstrated need for grant assistance

◦   Understand how exporting works and the cost of doing business with foreign buyers

•   How to apply: Applicants should speak with an ESD Global NY representative for guidance. After that, they can complete the Global NY Grant Fund application electronically and e-mail it (with supporting documentation) to [email protected]. Applications are accepted on a continuous basis; average processing time is 90 days.

Recommended: Business Cash Management: Tips for Managing Cash

The Creative Opportunity Fund

•   Program description: Using money from the New York State Council on the Arts (NYSCA), A.R.T./New York regrants it to the Creative Opportunity Fund (COF) for general operating support grants to theaters throughout New York State.

•   Incentive: Small professional theaters with budgets under $500,000 can receive flexible grants of $2,000 to $5,000.

•   General requirements:

◦   Be a New York-based theater company with at least two years of public programming experience

◦   Operate as a 501(c) nonprofit, fiscally sponsored, or unincorporated artist collective organization

◦   Host live or virtual performances in New York State

◦   Have annual budget of $500,000 or less

•   How to apply: To be eligible for funding, you must register and be “prequalified” in the New York Statewide Financial System online portal by the date your application is due. The prequalification application asks for documents and details about your 501(c) entity.

Additional documentation and financial information will be required. The COF website lists a January 2026 deadline for these grants.

Troy Community Business Investment Grant

•   Program description: The city of Troy’s Community Business Investment Grant provides reimbursement funds to eligible commercial and mixed-use projects that strengthen the surrounding community. Such projects can include exterior renovations to a commercial space or the installation of fixed machinery, among other capital improvements.

•   Incentive: Business owners in Troy can receive between $5,000 and $50,000 in reimbursement for expenses related to a capital improvement project. There is a minimum 50% match requirement from the property or business owner.

•   General requirements:

◦   Be a property owner or business owner in the city of Troy

◦   Be current on all taxes

◦   Propose a capital improvement project, such as making energy efficiency upgrades to your commercial property or rehabbing an industrial building

◦   Certify a minimum 50% match requirement

◦   Have proof of available financing for your project

◦   Begin project within six months of grant approval

◦   Complete the project within one year, unless granted an extension; failure may result in cancellation of the grant

•   How to apply: Check the city of Troy’s website for updates on grant opportunities and deadlines.

Recommended: Opening a Business Bank Account: How Business Bank Accounts Work

City of Rochester Small Business Grant Programs

•   Program description: The city of Rochester offers small business reimbursement grants to eligible retail and neighborhood service establishments that need capital for items such as advertising, furniture/equipment, exterior signage, computers, architectural services, and security equipment.

•   Incentive: Startups (in business for up to 12 months) are eligible for up to $5,000. Existing businesses (in business for 12 months or more) are eligible for up to $8,000.

•   General requirements:

◦   Be a retail establishment or consumer services business owner with annual gross revenues of $5 million or less

◦   Operate your Rochester-based business in accordance with local zoning regulations

◦   Meet eligibility guidelines from the U.S. Department of Housing and Urban Development (HUD) by providing an essential product or service in low- to moderate-income areas (HUD guidelines include alternative ways to qualify.)

◦   Be current on your sales and property taxes

◦   Have no outstanding code violations or nuisance points on your commercial property

◦   Operate an eligible business or enterprise (this excludes adult entertainment businesses, check-cashing facilities, gambling facilities, gun shops, home-based businesses, payday loan operations, and vape shops)

•   How to apply: The City of Rochester’s website provides fillable application forms. If need be, you can submit an online request for assistance/information.

Market New York Tourism Grant

•   Program description: The Market New York grant program can help small businesses and other eligible applicants pay for tourism marketing initiatives in the Empire State.

•   Incentive: Various funding amounts are available for tourism marketing initiatives, capital projects, and special events (such as meetings, conferences, conventions, festivals, and athletic competitions).

•   General requirements:

◦   Be a not-for profit corporation or a for-profit business certified in the state of New York

◦   Propose a marketing or capital project that will promote tourism in the region or state

◦   Complete and submit a Consolidated Funding Application (CFA)

◦   For working capital/marketing projects, the minimum request is $50,000 and the funding requires a 50% match

◦   Capital and construction projects must request at least $150,000 with a required match of 80%

•   How to apply: Contact the New York State Division of Tourism staff for information about the next round of funding.

Citizens Committee for New York City Neighborhood Business Grant

•   Program description: Citizens Committee for New York City (known as CitizensNYC) provides this grant to small businesses in the five boroughs that are “doing well by doing good” in their neighborhood. Each year CitizensNYC gives out more than $1 million in support of small businesses, local nonprofits, and volunteer-led programs.

•   Incentive: Up to $5,000 for initiatives the business undertakes to positively impact its community. Past winners of these NYC small business grants have included barbershops, bookstores, cafés, and childcare providers, among many others.

•   General requirements: The business must:

◦   Be located in one of New York City’s five boroughs

◦   Have operated for at least two years

◦   Have 10 or fewer employees

◦   Generate a profit

◦   Provide proof of business activity, such as bank statements, tax documents, and point-of-sale terminal statements

•   How to apply: The CitizensNYC website has links to the grant’s application form, a page explaining its judging criteria, and a sample application to show what a successful bid looks like.

Do You Have to Pay Back a Small Business Grant?

Typically, no. Unlike small business loans, small business grants generally do not need to be repaid. However, that doesn’t mean there are no strings attached. Small business grants usually come with terms and conditions and require the recipient to sign a funding agreement. If for any reason you violate the terms of the grant, you may be responsible for paying back the funds. For example, using the grant for an illegitimate purpose may violate the agreement and require business owners to pay back the grant.

In some cases, New York State small business grants may require you to spend the money by a certain date. You may also have to provide proof of payment and a written statement detailing how you’ve spent the grant.

How to Apply for Small Business Grants in New York State

On New York State’s Grants Management page, you can find, apply for, and manage NY small business grants. There is a search page that can take you to a list of grants related to a given keyword or time period. It’s helpful to have a specific grant in mind when searching.

For more research help, the New York Public Library maintains a guide to national and local grants for business.

Another resource is NYC Funds Finder, supported by the city’s department of Small Business Services, which can point you toward NYC small business grants that may be suitable for your company.

Documents and Requirements

Each NYS small business grant will have its own specific requirements. In general, though, the plan you present in your application should clearly explain your business, what sets it apart from competitors, and details about how the grant money will be spent.

You may also need supporting documentation, which might include:

•   Certificate of incorporation or articles of organization (for LLCs)

•   Licenses and permits

•   Proof of insurance

•   Financial statements

Submission Deadlines and Tips

Your application must be in by the grant deadline. Rolling grants have no set deadlines — they accept applications year-round — but do eventually get depleted, so it’s worth getting your application in as soon as it’s ready.

Some grant writing tips:

•   Allow plenty of time to complete your proposal.

•   Read samples. You can ask if the grant you’re applying for can provide samples of past winners’ proposals. These may suggest how yours might stand out.

•   Follow instructions to the letter. You don’t want to miss any key requirements.

•   Be specific. Include plenty of detail about your business plan and financials, statistics to back up your problem statement, and research on the audience you want to serve.

New York Resources for SMB Owners Looking for Funding

Here’s a look at some resources for small- and medium-sized businesses looking for funding in the Empire State.

New York Small Business Development Center (NYSBDC)

The NYSBDC is a statewide network with roughly 90 locations throughout New York State. It provides New York’s small business owners with the following services at no cost:

•   Business training courses, seminars, and workshops

•   Library and research services

•   Confidential business counseling

SBA District Offices in New York

The U.S. Small Business Administration (SBA) is a federal agency that provides resources and support to small business owners. The SBA has three district offices in New York:

•   SBA Buffalo District Office. This SBA district serves 14 of the westernmost counties of New York. Depending on where you’re based, you can contact the main office in Buffalo or the satellite office in Rochester.

•   SBA Metro New York District Office. This SBA district serves 14 counties in New York City, Long Island, and the surrounding area. Depending on your county, you can contact the main office in New York City or the satellite office in Hauppauge.

•   SBA Syracuse District Office. This SBA district serves 34 counties in upstate New York. Depending on your location, you can contact the main office in Syracuse or schedule a call with one of the virtual offices in Albany or Elmira.

Alternative Funding Sources for Small Businesses in New York

If you don’t qualify for NYS small business grants, you’re not necessarily out of funding options. Here are some other ways you may be able to get the capital you need to launch or grow your business in New York.

NY Microloan Lenders

Community-based funders may offer microloans ranging from $500 to $50,000 or even more to underserved small business owners in New York. Often these are women and minorities. Interest rates tend to be low and the qualification criteria are often less stringent compared with other business loans.

Microloans can provide an infusion of cash to get a startup off the ground or grow an existing business. However, you may need to provide a microlender with a personal guarantee and collateral in order to secure funding.

SBA Loans for New York Businesses

An SBA loan is partially guaranteed by the U.S. Small Business Administration and financed by banks and other lenders. Loan amounts range from $500 to $5.5 million.

Because the federal government guarantees it will repay most of the loan amount if a borrower defaults, it reduces the lender’s risk and encourages them to offer loans to companies they might not otherwise work with. For small business owners who can’t qualify for a traditional business loan, an SBA loan can be an ideal option. If you need a startup loan, the SBA microloan program is worth investigating.

SBA loan rates are among the lowest available, and repayment terms can go up to 10 or 25 years, depending on the purpose of the loan. However, the application process for an SBA loan can be long and rigorous, and you may have to pay additional loan fees.

New York SMB Loans from Private Lenders

Banks, credit unions, and online lenders may offer business term loans to New York business owners. Newer companies tend to have a better chance of approval through online lenders because these lenders typically offer more flexible qualification requirements.

With a term loan, you receive a lump sum of cash upfront and repay it over a set period of time, often up to 10 years. If you prefer a short-term loan, which is usually payable within three to 24 months, be aware that these tend to have higher interest rates than other business loans. Your business’s history, annual revenue, and creditworthiness (including your personal credit) generally determine the specifics of the loan and how much you can borrow.

Business Lines of Credit

A business line of credit is a flexible financing option that lets you borrow money on an as-needed basis up to a predetermined amount. Similar to using a credit card, you pay interest only on the money you’ve drawn. Once you’ve repaid your funds, you can draw on your line again.

Business credit lines are offered by banks, online lenders, and other lenders. Banks tend to have more stringent qualifications and lower rates, while online lenders may be more lenient, but offer higher rates.

Equipment Loans

If your business needs money to purchase equipment or machinery, equipment financing may be a good solution. The equipment you purchase serves as collateral for the loan. If you default, the lender can repossess and resell the equipment to recoup some of its losses. Since this lowers risk for the lender, equipment financing often comes with competitive interest rates.

The amount you can borrow with an equipment loan depends on what you need to finance. Many banks and online lenders will offer financing that covers the full cost of equipment.

Recommended: Small Business Loans in New York

The Takeaway

A variety of small business grants in New York State are available from the government and the private sector. It may take some research to find grants that match the needs of your small business, but those are the ones you’ll have the best chance of winning.

If you’re seeking financing for your business, SoFi is here to support you. On SoFi’s marketplace, you can shop and compare financing options for your business in minutes.

FAQ

How do you get a small business grant in New York?

To find a small business grant in New York, you might start by contacting the state’s Economic Development Administration and your local Small Business Development Center. You typically need to submit a grant application as a qualified small business owner to be considered for a NY small business grant.

How hard is it to get a business loan in New York?

You typically need to have been in business for at least two years and have strong financials to qualify for a business loan from a bank. Online alternative lenders tend to have more flexible qualification criteria but generally charge higher interest rates.

What is the easiest SBA loan to get approved for?

There’s no guarantee you’ll get approved for any SBA loan, but SBA microloans may be one of the easier ones to get if you’re a new business owner. Startups may be eligible for SBA microloans of up to $50,000. If you want a streamlined application process, look into an SBA Express loan.

What types of businesses are most likely to receive grants in New York?

New York’s Empire State Development has identified several statewide “priority industries” for funders and investors to focus on. These include:

•   Advanced manufacturing and materials

•   Biotech and life sciences

•   Cleantech and renewable energy

•   Construction

•   Electronics and optics, photonics, and imaging (OPI)

•   Film and TV production and post-production

•   Software and digital media

Small businesses in these industries are likely to get more consideration when applying for grants in New York.

Are there specific grants for women or minority business owners in New York?

There are a few such grants for New York business owners. For example, the Empire State Development’s Supplier Innovative Finance Program offers up to $5,000 in unrestricted grants to support socially and economically disadvantaged businesses in New York. Companies must have annual revenues between $250,000 and $10 million and be certified as minority, women, veteran, or LGBTQ+ owned.

In addition, there are many small business grants for minorities that are available nationwide, including in New York.

Photo credit: iStock/Prostock-Studio

SoFi's marketplace is owned and operated by SoFi Lending Corp.
Advertising Disclosures: The preliminary options presented on this site are from lenders and providers that pay SoFi compensation for marketing their products and services. This affects whether a product or service is presented on this site. SoFi does not include all products and services in the market. All rates, terms, and conditions vary by provider. See SoFi Lending Corp. licensing information below.

This content is provided for informational and educational purposes only and should not be construed as financial advice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

SOSMB-Q325-010

There are roughly 1.1 million small businesses in New Jersey, representing 99.7% of all businesses in the state. Collectively, NJ’s small business owners employ nearly 2 million individuals, which is almost 49% of the state’s total workforce.

To make it easier for small businesses to flourish in NJ, the state offers a range of funding opportunities, including small business grants. Unlike business loans, business grants generally do not need to be repaid.

While competition for NJ small business grants can be stiff, it’s a good idea to explore any possible grant opportunities your startup or business might qualify for. Read on to learn more about how to get a small business grant in NJ, plus other ways you may be able to get the capital you need to start or grow your business in the Garden State.

Grants for Small Businesses in NJ

If you’re looking for state of NJ grants for your small business, here are some options to consider.

Food Retail Innovation in Delivery Grant (FRIDG) Program

•   Program description: The FRIDG program provides independent NJ supermarkets and other eligible food retailers with funds to buy temperature-controlled storage lockers. These lockers, which facilitate food delivery, must be installed in food desert communities within New Jersey.

•   Incentive: Up to $250,000 in reimbursements (30% to 50% of total project costs) to subsidize the purchase of self-contained, temperature-controlled lockers for grocery delivery.

•   General requirements:

◦   Be an independent or chain supermarket owner or other qualifying food retailer

◦   Have a physical retail location in New Jersey

◦   Have the ability to service and make deliveries to a locker that’s located in a designated food desert community (FDC)

◦   Be in good standing with NJ state agencies, including the Division of Taxation, the Department of Environmental Protection (NJDEP), and the Department of Labor and Workforce Development (NJDOL)

•   How to apply: You can complete and submit a FRIDG application through the New Jersey Economic Development Authority (NJEDA) website. There is a non-refundable application fee of $1,000.

Small Business Improvement Grant

•   Program description: The Small Business Improvement Grant offers partial reimbursement to small businesses and nonprofits who spend at least $5,000 on capital improvements or new furniture, fixtures, and equipment.

•   Incentive: Reimbursement of up to 50% of eligible project costs; amount capped at $50,000.

•   General requirements:

◦   Be a small business that rents or owns commercial property; landlords are not eligible

◦   Meet the SBA definition of a small business for your sector, as determined by employee count

◦   Project cost of $5,000 or more; may include capital improvements, furniture, fixtures, and equipment

◦   Payment must have been made within the two years prior to your application date

◦   Provide a current tax clearance certificate prior to approval

◦   Be in good standing with NJDOL and NJDEP

◦   Not in default of any NJ state assistance programs

◦   Certify willingness to pay wages that are either $15 per hour or 120% of the minimum wage, whichever is greater

◦   Remain in the location for at least two years (for grants up to $25K); for all other amounts, remain for at least four years

•   How to apply: You can complete and submit a Small Business Improvement Grant application through the New Jersey Economic Development Authority (NJEDA) website. You must pay a $100 approval fee before you execute the grant agreement.

Small Business Lease Grant

•   Program description: The Small Business Lease Grant offers grant funding to cover a portion of lease payments for businesses and nonprofits leasing new or additional space.

•   Incentive: Two grant awards of 20% of the annual lease payments on a minimum five-year lease term.

•   General requirements:

◦   Be a NJ small business or nonprofit with a minimum five-year lease term or longer

◦   Meet the following additional lease criteria:

■   Occupy first floor (street-level) space in the Garden State

■   Space must have dimensions between 250 and 10,000 square feet

■   You must have signed the lease within 12 months prior to applying for this NJ grant

■   The lease is considered market rate based on commercial real estate information

◦   Provide a current tax clearance certificate prior to approval

◦   Provide certification from the landlord showing you are current on lease payments

◦   Be in good standing with NJDOL and NJDEP

◦   Not be in default of any NJ state assistance programs

◦   Pay wages of $15 per hour or 120% of the minimum wage rate, whichever is greater

◦   Commit to remaining in the leased facility for at least five years

•   How to apply: You can complete and submit a Small Business Lease Grant application through the NJEDA website. Applicants who have applied for or received a license or a certification from the New Jersey Cannabis Regulatory Commission are not eligible for this grant.

Main Street Recovery Finance Program

•   Program description: This umbrella program funds several narrower grants and loans that help NJ small business owners pay for capital improvements or operating expenses. It funds the two grants just mentioned plus the Main Street Acquisition Support Grant and Main Street Micro Business Loans.

•   Incentives: Award sizes vary by type of grant, but a total of $227 million has been appropriated for the Main Street Recovery Finance Program as a whole.

•   General requirements: Additional requirements may exist for certain grants, but in general, applicants must:

◦   Present capital improvement plans that accord with green building standards

◦   Be in good standing with NJDOL and NJDEP

◦   Provide a current tax clearance certificate prior to approval

◦   Commit to pay $15 per hour or 120% of the minimum wage rate, whichever is greater

•   How to apply: Check the Funding page at Business.NJ.gov page to see a filterable list of grants that may fit your small business. More guidance is available if you create an account at the site.

Recommended: How Much Does It Cost to Start a Business?

Atlantic City Revitalization Grant Program

•   Program description: The Atlantic City Revitalization Grant Program, currently in its second phase, is awarding grants for capital projects that address and improve the communities and neighborhoods within Atlantic City.

•   Incentive: Receive between $250,000 and $2.5M in grant funds to cover up to 50% of eligible capital project costs (including soft and hard construction costs).

•   General requirements:

◦   Be a for-profit or nonprofit entity that is overseeing a real estate development project and coordinating the activities related to the project

◦   Project must be a renovation/restoration of a vacant (or partially vacant) building in need of repair

◦   The developer fee cannot exceed 8% of total project costs.

◦   All projects must be fully completed by the end of calendar year 2026 (as per U.S. Treasury deadlines)

•   How to apply: Anyone interested in applying to the Atlantic City Revitalization Grant Program should email [email protected] to set up a call to discuss their application with NJEDA staff prior to applying. Note that all candidates must pay a $1,000 fee when filing the application.

Upskill: NJ Incumbent Worker Training Grant Program

•   Program description: This NJ upskilling grant program helps defray the cost of training current employees to help increase the competitiveness of both the employee and employer.

•   Incentive: Eligible NJ employers can receive up to 50% cost reimbursement (maximum $500,000) to train incumbent frontline employees in new occupational skills.

•   General requirements:

◦   Be a NJ-based employer

◦   Have employees concentrated in one of the following nine strategic business sectors:

■   Advanced manufacturing

■   Clean energy

■   Film and digital media

■   Finance and professional services

■   Food and beverage (non-retail)

■   Life sciences

■   Offshore wind

■   Technology

■   Transportation and logistics

◦   Develop a job-training plan that would enhance the skills of existing employees to meet current and future business goals

◦   Commit to retain your trainees for at least six months after training is completed

◦   Provide a current tax clearance certificate

◦   Have a federal Employer Identification Number (EIN)

◦   Have a Unique Entity Identifier (UEI) number

•   How to apply: Register with the NJ Department of Labor and Workforce Development’s online IGX system and notify NJDOL of your intent to apply for the Upskill: NJ Incumbent Worker Training Grant.

New Jersey Economic Development Authority (NJEDA) Entrepreneur Support

•   Program description: This initiative guarantees investor loans that provide working capital to NJ startups. The guarantee covers 80% of the investment amount.

•   Incentives: Each company can receive a maximum of $400,000 in loan guarantees, regardless of the number of investors.

•   General requirements:

◦   Have at least 50% of employees located in NJ

◦   Have fewer than 225 employees in total

◦   Have corporate or business headquarters in New Jersey

◦   Be registered to do business in the state

◦   Have an up-to-date tax clearance certificate

◦   Be in good standing with the NJDOL

◦   Operate in one of the NJEDA targeted industries:

■   Advanced manufacturing

■   Aviation

■   Autonomous and/or zero-emissions vehicles

■   Clean energy

■   Film and digital media

■   Finance and professional services

■   Food and beverage (non-retail)

■   Hemp processing

■   Information technology

■   Life sciences

■   Transportation and logistics

•   How to apply: Get the process started by sending an email to [email protected] for a consultation. On the NJEDA Entrepreneur Support Program web page, there’s a sample application that you can look over before applying.

How to Apply for NJ Small Business Grants

When applying for NJ business grants, the NJ Economic Development Authority’s website is a useful starting point. Its Financing and Incentives page lists a number of small business grants to consider, or you can use the site’s Eligibility Wizard to narrow down your choices.

A few grant descriptions on the NJEDA site have application links, but others require you to contact the NJEDA staff by phone or email to get the ball rolling.

Preparing Your Application

Once you’ve selected one or more grants to pursue, you may wish to take advantage of the free one-on-one consultations offered by New Jersey’s Small Business Development Council.

You can also explore other resources via your local public library. Some offer dedicated business information services and programs that may include training on how to apply for grants. If you’re physically located within the state of NJ, you can use Jerseyclicks to login without a library card.

Recommended: How To Form an LLC in New Jersey

Documents and Requirements

Many of the NJEDA grants require that a business:

•   Meet the SBA definition of a small business in that industry

•   Provide current NJ tax clearance certificate

•   Be in good standing with the NJ Department of Labor and the NJ Department of Environmental Protection

•   Commit to paying employees $15 per hour or 120% of minimum wage, whichever is greater

There are other requirements set out for certain grants. Also, many NJEDA grants share a focus on businesses in particular sectors, as mentioned above.

Your business plan should clearly explain your business and what sets it apart from other competitors, plus details about what you would do with the grant money. Some small business grant applications may also require financial data and other relevant information for your business, so having that information organized and prepared can help streamline the process.

Unlike small business loans, grants don’t need to be repaid, so you may see less of a focus on credit history and cash flow statements.

Submission Deadlines and Tips

To make sure your grant application gets consideration, you must not miss the application deadline. Rolling grants do accept applications anytime — but only until that cycle’s funds are used up. Funders will often note on their websites when the funds have been fully depleted.

Having identified your deadline, it’s a good idea to read all of the qualification requirements carefully before applying. You want to make sure you meet the criteria before investing too much time in the application process.

More grant-writing tips:

•   Research the grant. It can be worthwhile to research the funding agency or organization, the grant’s history, and past awardees. Using this information in your proposal as it applies will show you did your homework.

•   Read samples. You can ask if the grant you’re applying for can provide samples of past winners’ proposals. These can give you a general idea of how yours might stand out.

•   Follow instructions to the letter. Allow plenty of time to complete your proposal so you don’t miss key requirements. Make sure you include in your proposal everything that’s specified and present this information exactly as requested.

•   Be specific. Include plenty of detail about your business plan and financials, statistics to back up your statement of the problem you’re addressing, and research on the audience you want to serve.

What Industries Do State of NJ Grants Support?

New Jersey offers grants supporting a variety of industries, including:

•   Advanced manufacturing

•   Clean energy

•   Film and digital media

•   Finance and professional services

•   Food and beverage (non-retail)

•   Life sciences

•   Offshore wind

•   Technology

•   Transportation and logistics

•   Retail trade (store and nonstore retailers)

NJ Resources for SMB Owners Looking for Funding

Here are some additional resources for small and medium-sized businesses looking for funding in the Garden State.

New Jersey Small Business Development Center (NJSBDC)

The NJSBDC is a statewide program that can provide NJ small business owners with the following services at no cost:

•   Business training courses, seminars, webinars, and workshops

•   Entrepreneur Certificate Program (ECP)

•   Confidential business counseling

Ten SBDC regional offices are located throughout New Jersey, often on university campuses.

SBA District Office in NJ

The U.S. Small Business Administration (SBA) is a federal agency that provides resources and support to small business owners. The SBA’s New Jersey District Office in Newark serves all 21 counties in the Garden State.

Alternative Funding Sources for Small Businesses in NJ

If you don’t qualify for small business grants in NJ, you’re not necessarily out of funding options. Here are some other ways you may be able to get the capital you need to launch or grow your business in the Garden State.

NJ Microloan Lenders

Community-based nonprofits may offer microloans of anywhere from $500 to $50,000 to underserved small business owners in New Jersey, such as women and minorities. Interest rates tend to be low (or zero in some cases), and the qualification criteria are often less stringent compared with other business loans.

Microloans can provide an infusion of cash to get a startup off the ground or grow an existing business. However, you may need to provide a microlender with a personal guarantee and collateral in order to secure funding.

New Jersey SMB Term Loans from Private Lenders

Many banks, credit unions, and online lenders in NJ offer term loans to small businesses. With this type of loan, you receive a lump sum of money up front then repay it (plus interest) over a set period of time. You can use the funds for a variety of business-related purposes, including expansion, buying equipment, and working capital.

Online alternative lenders tend to have more flexible eligibility criteria than traditional banks, making them a good option for businesses that are just starting out. However, interest rates tend to be higher.

NJ SBA Loans

The Small Business Administration (SBA) offers a range of loan programs to help small businesses secure funding. These loans are partially guaranteed by the SBA, which reduces risk for lenders and increases accessibility for businesses.

The 7(a) loan program is one of the most popular SBA loans, since it provides funds that can be used for a variety of business needs; even startup business loans may be available to qualified applicants. SBA loans typically offer longer repayment terms and lower interest rates compared to conventional business loans.

Recommended: Typical Small Business Loan Fees

Business Lines of Credit

A business line of credit provides businesses with flexible access to funds up to a predetermined limit. Unlike traditional loans, a line of credit allows businesses to borrow only what they need, when they need it. This flexibility can be helpful for managing cash flow, covering unexpected expenses, and taking advantage of growth opportunities.

Business lines of credit typically have variable interest rates and can be secured or unsecured, depending on the lender and the borrower’s creditworthiness.

Equipment Financing

Equipment loans and financing are specifically designed to help businesses acquire needed tools and machinery. The equipment itself serves as collateral for the loan, which can make it easier to get approved. This type of financing can be used to purchase heavy machinery, vehicles, technology, and other essential equipment. Terms for equipment financing vary based on the lender and the type of equipment, but generally feature fixed interest rates and repayment terms from three to ten years.

Recommended: Small Business Loans in New Jersey

The Takeaway

Small businesses qualify for various grants in New Jersey, with sources ranging from state and local governments to private enterprises. It may take some research to find grants that match your small business, but those are the ones you’ll have the best chance of winning.

If you’re seeking financing for your business, SoFi is here to support you. On SoFi’s marketplace, you can shop and compare financing options for your business in minutes.

FAQ

How do you get a small business grant in New Jersey?

To find a small business grant in New Jersey, you might start by contacting the state’s Economic Development Administration and your local Small Business Development Center. You typically need to submit a grant application as a qualified small business owner to be considered for a small business grant in New Jersey.

How hard is it to get a business loan in New Jersey?

To get a business loan from a bank, you typically need to have strong financials and have been in business for at least two years. Online alternative lenders tend to have more flexible qualification criteria for small business loans but generally charge higher interest rates.

What is the easiest SBA loan to get approved for?

There’s no guarantee you’ll get approved for any U.S. Small Business Administration (SBA) loan, but SBA microloans can be one of the easier types to get if you’re a new business owner. Startups may be eligible for SBA microloans of up to $50,000. If you’re looking for a streamlined application process, you may want to look into an SBA Express loan.

What grants are available for startups in New Jersey?

Several grant programs in New Jersey can help startups secure funding. The NJEDA (New Jersey Economic Development Authority) provides various grants, including the Small Business Improvement Grant and the Small Business Lease Grant, discussed above. Other state agencies offer targeted grants for business, such as the NJ Department of Environmental Protection’s Electric Vehicle Charging Grant Program. Also, in East Trenton and Atlantic City, locally sponsored small business grants are available.

Can nonprofit organizations qualify for small business grants in NJ?

Yes, they can, and there are many grants directed at small nonprofit organizations in NJ. Sites to follow for more details include:

•   New Jersey Center for Nonprofits

•   Community Foundation of New Jersey

•   New Jersey Department of State

•   The New Jersey section of GrantWatch

Photo credit: iStock/PeopleImages

SoFi's marketplace is owned and operated by SoFi Lending Corp.
Advertising Disclosures: The preliminary options presented on this site are from lenders and providers that pay SoFi compensation for marketing their products and services. This affects whether a product or service is presented on this site. SoFi does not include all products and services in the market. All rates, terms, and conditions vary by provider. See SoFi Lending Corp. licensing information below.

This content is provided for informational and educational purposes only and should not be construed as financial advice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

SOSMB-Q325-009

Florida has 3.5 million small businesses that can apply for small business grants. Submitting an application and competing for Florida small business grants can help you grow your small- or medium-sized enterprise in the Sunshine State.

Florida’s economy has a gross domestic product of $1.8 trillion for the most recent year studied. It’s one of just six states (along with California, Texas, New York, Pennsylvania, and Illinois) that contribute more than $1 trillion to America’s GDP.

Below we highlight some of the top small business grants in Florida that you can explore.

Grants for Small Businesses in Florida

If you’re looking for small business grants in Florida, here are some potential options to consider.

SelectFlorida Trade Grants

•   Program description: Florida offers a variety of trade grants through its official international trade and investment promotion agency, SelectFlorida Inc. (SelectFL). These small business grants can help you export your goods and services from the Sunshine State to foreign markets.

•   Incentive: Eligible small businesses can receive top trade grants, such as:

◦   Matchmaker grants that reimburse some or all of the costs of participating in SelectFL export sales missions

◦   $4,500 toward the development of a customized export marketing plan

◦   Trade show grants of up to $5,000 for select booth costs

•   General requirements: Here are some of the general requirements for these grants.

◦   Be located in Florida and registered as an active entity with the Florida Division of Corporations

◦   Be in business for a minimum of two years in the state of Florida, based on Florida Division of Corporations records

◦   Have a licensed commercial operation that consists of either an office, office/warehouse, or manufacturing facility

◦   Coworking spaces are eligible, but home-based businesses and virtual offices do not qualify

◦   Employ at least three full-time employees (excluding 1099 contractors) but no more than 500

◦   Have at least $250,000 in annual sales in the previous calendar year

◦   Be a Florida-based manufacturer whose products are produced in Florida or a local services provider whose services are provided from the Sunshine State

◦   Have a viable product line or service

•   How to apply: Contact your local trade representative for SelectFL (formerly known as Enterprise Florida) if you wish to apply for Florida trade grants. Qualified companies can receive a maximum of three trade grants each year between July 1 and June 30.

Orlando Business Assistance Program

•   Program description: Orlando operates a Business Assistance Program (BAP) that provides matching grants to small businesses seeking to locate, expand, or redevelop in this central Florida city.

•   Incentive: Eligible businesses can receive up to $20,000 in matching funds to help pay for commercial development fees in Orlando, including building permit fees.

•   General requirements: Be an Orlando-based small business with a City of Orlando Business Tax Receipt or obtain one upon relocating your business there.

•   How to apply: Request a meeting with the BAP coordinator to determine your eligibility. More information is available on the city of Orlando’s website.

Florida High Tech Corridor Matching Grants Research Program (MGRP)

•   Program description: The Florida High Tech Corridor Matching Grants Research Program (MGRP) provides funding to research teams spearheaded by University of Central Florida and University of South Florida faculty in collaboration with business partners.

•   Incentive: Eligible research teams can receive up to $150K in matching cash and in-kind investments.

•   General requirements: Partner with UCF or USF to be eligible for MGRP funding; projects that have secured federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) awards are prioritized.

•   How to apply: Small businesses can contact USF’s or UCF’s MGRP staff to discuss potential collaboration. More information is available on the websites of University of South Florida and University of Central Florida.

Tampa Community Redevelopment Area (CRA) Commercial Grants

•   Program description: The Tampa Community Redevelopment Area (CRA) Commercial Grant program provides business owners with matching grants for building or renovating establishments within a designated CRA.

•   Incentive: Receive up to $75,000 in matching grants for making eligible interior or exterior improvements to commercial properties located in a CRA.

•   General requirements: Here are some of the general requirements for these grants.

◦   Own or lease a commercial property in a Tampa CRA

◦   Be current on your business and property taxes

◦   Have a pre-application meeting with CRA staff before initiating the work

◦   Present a detailed plan of proposed improvements to your commercial property

◦   Have your plans for construction or addition within historic districts approved by Tampa’s Architectural Review & Historic Preservation division

◦   Make sure current and future uses of the property conform to the city’s code of ordinances

◦   Consent to any applicable restrictive covenants

◦   Ensure that property does not involve “adult uses”

•   How to apply: Contact your participating CRA for the grant application and more information on Tampa’s Commercial Grants program.

Miami-Dade County’s Mom and Pop Small Business Grant

•   Program description: The Miami-Dade County Mom and Pop Small Business Grant Program can provide business owners with financial aid to buy equipment, supplies, inventory, and commercial liability insurance, among other products and services.

•   Incentive: Eligible small business owners may receive up to $5,000 that could be used for a variety of purposes. Proof of payment and a written statement detailing how you’ve spent the grant may be required.

•   General requirements: Here are some requirements for this annual grant program.

◦   Operate a small for-profit business in one of the 13 Miami-Dade County Commission Districts

◦   Have a physical address for your business (home-based businesses can apply)

◦   Business must not be part of a national chain

•   How to apply: Check the MiamiDade.gov site for a list of contacts, or email [email protected].

Recommended: Small Business Loans & Grants for Disabled Veterans

National Grant Options for Florida Businesses

For Florida businesses, several national grant options are available, providing valuable financial support across various industries and purposes.

1.    Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs: These programs are among the most prominent federal grant initiatives aimed at encouraging innovation and technological development. Florida businesses engaged in research and development can apply for SBIR and STTR grants, which provide substantial funding to support the creation and commercialization of innovative products and services.

2.    U.S. Department of Agriculture (USDA) Grants: For businesses in the agricultural sector, the USDA offers numerous grant programs. The Value-Added Producer Grant (VAPG) helps agricultural producers enhance the value of their products. The Rural Business Development Grant (RBDG) program supports the development of small businesses in rural areas, offering funds for training, equipment, and other essential needs.

3.    Economic Development Administration (EDA) Grants: The EDA provides grants to stimulate economic growth and create jobs. The Public Works and Economic Adjustment Assistance programs offer financial assistance to businesses and communities affected by economic distress. These grants can be used for infrastructure improvements, business expansion, and workforce development initiatives.

4.    National Association for the Self-Employed (NASE) Growth Grants: NASE provides grants of up to $4,000 for small businesses to finance specific business needs such as marketing, advertising, hiring employees, and purchasing equipment. These grants are particularly beneficial for sole proprietors and micro-businesses looking to enhance their operations.

5.    Amber Grants for Women: This grant is designed to support women-owned businesses across the United States, including Florida. Each month, the Amber Grant awards $10,000 to a woman entrepreneur, with an additional $25,000 awarded annually to three of the monthly recipients. This grant can be used for a wide range of business purposes, from product development to marketing initiatives.

By exploring these national grant options, Florida business owners can access vital financial resources to drive innovation, support growth, and achieve long-term success.

Who Provides Small Business Grants in Florida?

Some of the organizations or entities that provide small business grants in Florida typically include local municipalities, county governments, nonprofits, and state-based organizations.

You can compare small business grants in Florida with similar programs in other states, such as:

•   Small business grants in California

•   Small business grants in Indiana

•   Small business grants in New York

•   Small business grants in Wisconsin

Do You Have to Pay Back a Small Business Grant?

A small business grant typically comes with terms and conditions, and you may be responsible for paying back the grant if you violate those terms. In general, absent any violations, small and midsized business owners are not required to pay back an SMB grant.

You typically have to sign a funding agreement to accept a small business grant. As mentioned above, the grant may come with certain conditions. Using the grant for an illegitimate purpose may violate the agreement and require business owners to pay back the grant.

Small business grants may require you to spend the money by a certain date. You may also have to provide proof of payment and a written statement detailing how you’ve spent the grant.

How to Apply for a Small Business Grant in Florida

To be eligible for small business grants in Florida, you and your company may have to meet certain criteria, such as length of time in business, number of employees, or annual revenue. When you find a grant that’s suitable for your business, learn and follow the standard steps of applying for a small business grant.

If your business is a startup, you may have a harder time getting grants. You’re likely to improve your chances if you’ve nailed down the costs of starting your small business and written a detailed business plan, including information on how you’d spend the grant money.

Florida Resources for SMB Owners Looking for Funding

Here are some resources for small and medium-sized businesses looking for funding in the Sunshine State:

Florida Small Business Development Center (SBDC)

The Florida SBDC is a statewide program that can provide Florida’s small business owners with the following services:

•   Live and on-demand training in operations and management

•   Access to market research and data

•   Business consulting advice at no cost

SBA District Offices in Florida

The U.S. Small Business Administration (SBA) is a federal agency that provides resources and support to small business owners. Its Lender Match function can connect you to sources of startup business loans and other financing that may suit your particular needs.

The SBA has two district offices in Florida:

•   SBA North Florida District Office. This SBA district serves 43 counties in northern Florida. Depending on where you’re based, you can visit the main office in Jacksonville or the appointment-only office in Orlando.

•   SBA South Florida District Office. This SBA district serves 24 counties in southern Florida. Depending on where you’re based, you can schedule an appointment at the main office in Miami or at one of the virtual offices in Fort Pierce and Tampa.

Local Chambers of Commerce

Organizations in your area are often well suited to provide resources tailored to your business location and industry.

The Florida Chamber of Commerce’s Small Business Council offers access to tools, research, webinars, and networking opportunities. This may include state officials and agency heads who can fill you in on local funding programs.

The East Orlando Chamber of Commerce runs the EOC Foundation, which supports small and medium enterprises through micro-grants and other resources contributed by local companies.

Recommended: Guide to How Big of a Business Loan You Can Get

Alternative Funding Sources for Small Businesses in Florida

Here are some alternative funding sources for small businesses in Florida:

Florida State Small Business Credit Initiative (SSBCI)

Florida’s SSBCI is a federally funded program for small business owners in the Sunshine State. Federal law — the American Rescue Plan Act of 2021 — allocates more than $488 million to Florida’s State Small Business Credit Initiative program.

Here’s how Florida plans to use the SSBCI funding:

•   Collateral Support Program: This program provides cash collateral to help small businesses qualify for small business loans.

•   Venture Capital Program: This program implements a targeted investment strategy providing venture capital to underserved startups and investors.

•   Loan Participation Program: This program uses SSBCI funds alongside private funds to support a loan to a borrower.

•   Loan Guarantee Program: This program provides lenders with short-term, partial guarantees to support loans and lines of credit for eligible small businesses.

•   Capital Access Program: This program uses SSBCI matching funds to support portfolio insurance on small business loans.

Recommended: Guide to How Big of a Business Loan You Can Get

Florida Microloan Lenders

Community-based nonprofits may offer microloans of up to $50,000 to small business owners in Florida, including microloans for women-owned small businesses. In general, microloans can range from $500 to $50K and may be available to startups.

Florida SMB Loans from Private Lenders

Banks, credit unions, and private lenders may offer different types of small business loans to Florida business owners.

Here are some of the funding products you may consider depending on your needs:

•   Commercial real estate loans

•   Equipment financing

•   Small business loans for startups

•   Business lines of credit

Be aware that borrowers typically have to pay small business loan fees as well.

Recommended: Small Business Loans in Florida

The Takeaway

Florida offers a variety of grants for small businesses that fit the criteria, ranging from state or local governments to private business groups. It may take some research to find grants that match the description of your small business, but those are the ones you’ll have the best chance of winning.

If you’re seeking financing for your business, SoFi is here to support you. On SoFi’s marketplace, you can shop and compare financing options for your business in minutes.

FAQ

How do you get a small business grant in Florida?

You can apply for Florida small business grants, but there’s no guarantee you’ll get approved for one. You may have to submit a grant application as a qualified small business owner to be considered for a small business grant in Florida. You may also need to pass a criminal background check.

How hard is it to get a business loan in Florida?

You may have difficulty getting a small business loan in Florida if you have bad credit or insufficient business experience. You generally have to pay back business loans with interest.

What is the easiest SBA loan to get approved for?

There’s no guarantee you’ll get approved for any SBA loan, but SBA microloans may be one of the easier ones to get if you’re a new business owner. Startups may be eligible for SBA microloans of up to $50K. If you’re looking for a streamlined application process, SBA Express working capital loans are an option you may consider.

What types of businesses typically receive grants in Florida?

Florida may offer grants to businesses in the following industries:

•   Architectural, engineering, and related services

•   Construction

•   Manufacturing

•   Professional, scientific, and technical services

•   Real estate

•   Restaurants and other eating places

•   Retail trade (store and nonstore retailers)

•   Scientific research and development services

Are there grants specifically for minority-owned businesses in Florida?

Yes, some Florida grants are meant expressly for minority-owned businesses. Here are a couple of examples:

•   Miami’s Little Haiti Revitalization Trust has a small business grant program that provides grants of up to $20,000 to enterprises in the city’s Little Haiti district. The money is earmarked for improvements that allow businesses to remain viable and operational.

•   The Greater Miami Chamber of Commerce provides a Small Business Membership Scholarship Program to help train and support area businesses that employ fewer than 10 people. Minorities, women, U.S. veterans, individuals with disabilities, and members of the LGBTQ community are eligible to apply.

Photo credit: iStock/photohoo

SoFi's marketplace is owned and operated by SoFi Lending Corp.
Advertising Disclosures: The preliminary options presented on this site are from lenders and providers that pay SoFi compensation for marketing their products and services. This affects whether a product or service is presented on this site. SoFi does not include all products and services in the market. All rates, terms, and conditions vary by provider. See SoFi Lending Corp. licensing information below.

This content is provided for informational and educational purposes only and should not be construed as financial advice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

SOSMB-Q325-005

California has about 4.2 million small businesses that can apply for small business grants. Submitting an application and competing for small business grants in California can help you grow your small or medium-sized enterprise in the Golden State.

California’s economy has a gross domestic product of $4.2 trillion as of the first quarter of 2025. That’s the largest GDP in the United States out of the 50 states and the District of Columbia. In every state, small businesses contribute to the nation’s economy.

Small firms generated about $69.1 billion worth of exports from California per year, second in the nation to Texas ($147.8 billion), according to the most recent U.S. Census Bureau export data.

Below we highlight some of the top small business grants in California that you can explore.

California Small Business Grants

If you’re looking for small business grants in California, here are some potential options to consider.

Replacing, Removing, or Upgrading Underground Storage Tanks (RUST) Grants

•   Program description: California RUST grants provide eligible small business underground storage tank owners and operators with financing to upgrade, remove, or replace project tanks to comply with the Golden State’s health and safety regulations.

•   Incentive: Receive between $3,000 and $70,000 to replace, remove, or upgrade your small business’s underground storage tank infrastructure. These grants can cover up to 100% of the costs necessary to undertake a RUST project.

•   General requirements: Here are some of the general requirements for this grant.

◦   Be the owner or operator of an underground storage tank

◦   Employ fewer than 20 full-time and part-time employees as an independent small business owner

◦   Have principal offices and company officers domiciled in California

◦   Sell less than 1.5 million gallons of gasoline annually for each of the two years preceding the submission of your grant application

◦   Be in compliance with state health and safety codes

•   How to apply: You can submit an application through the California State Water Resources Control Board’s Financial Assistance Application Submittal Tool (FAAST) system.

California Civil Money Penalty (CMP) Reinvestment Grants

•   Program description: California’s skilled nursing facilities (SNFs) can apply for these project grants to cover expenses related to improving the quality of care or quality of life for facility residents.

•   Incentive: For quality of care and quality of life improvements, nursing homes can be reimbursed for up to $5,000 per year, with a maximum of $15,000 for a three-year project.

•   General requirements: You may qualify for these grants if you operate a certified SNF in California.

•   How to apply: Access the application forms online and submit a completed application to the California Department of Public Health.

California Department of Food and Agriculture (CDFA) Grants

•   Program description: The California Department of Food and Agriculture offers a variety of small business grants through such divisions as the Office of Farm to Fork and the California Underserved and Small Producer Program (CUSP).

•   Incentive: Eligible small businesses and small- to medium-scale growers and ranchers can request funding for key initiatives and weather relief measures. For example, recipients of the 2024 Healthy Soils Program Incentive grants were awarded funds ranging from $2,900 to $100,000.

•   General requirements: Requirements typically vary by grant. Often, operating a qualified small business in California in an urban area or within a farming community may make you best suited for one of these grants.

•   How to apply: Apply online for any open CDFA grant opportunities.

California State Expansion Program (STEP) Grants

•   Program description: Run by ​​the Governor’s Office of Business and Economic Development, this program assists eligible California small businesses seeking to expand into foreign markets.

•   Incentive: STEP will reimburse up to 75% of a company’s pre-approved export promotion expenses through a system of vouchers worth $500 to $10,000.

•   General requirements: Here are some of the general requirements for this grant:

◦   Be a for-profit entity that meets SBA small business size standards

◦   Be registered in California and have significant operations in the state

◦   At least one year of operation

◦   Goods/services being exported must have at least 51% U.S. content

•   How to apply: Visit STEP’s details page for guidelines and a link to the application portal.

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National Grant Options for California Businesses

In addition to California business grants, small enterprises in the Golden State have access to a wide array of national grants that can provide essential funding to support growth, innovation, and sustainability. These grants, offered by federal agencies, non-profit organizations, and private entities, cater to diverse business needs and sectors.

1. National Association for the Self-Employed (NASE) Growth Grant

•   Description: The National Association for the Self-Employed awards grants to small business owners to help take their companies to the next level. Grants can be used for marketing, advertising, hiring employees, expanding facilities, and other business needs.

•   Benefits: $4,000 grant

•   Eligibility: Qualifying NASE members may apply.

2. Comcast RISE Program Grants

•   Description: Comcast RISE offers grants, marketing consultations, media placements, and creative production services to small businesses in selected cities. Past winners have been based in the San Francisco, Los Angeles, and Sacramento areas.

•   Benefits: $5,000, along with marketing and technology resources

•   Eligibility: Open to independent small businesses that have been in operation for at least two years and have generated revenue for the most recent 12 months

3. American Express Backing Small Business Grants

•   Description: American Express funds these grants to locally significant small businesses to help them grow and thrive. The grants target established, independent companies with 20 or fewer full-time employees.

•   Benefits: Hundreds of $10,000 grants plus three $30,000 Enhancement Grants

•   Eligibility: Open to U.S. small businesses that have occupied a ​“bricks-and-mortar” location in an older or historic main street, downtown, or commercial district since at least January 1, 2025

How the Grants Application Process Works

Applying for a grant can be a valuable way for businesses to secure funding without the need for repayment. While the process may vary depending on the grant provider, there are general steps and required documents that most applications will follow.

1. Researching grants: The first step is identifying suitable grant opportunities. This involves researching various grants available from government agencies, non-profit organizations, and private entities. Pay attention to eligibility criteria, application deadlines, and the specific goals of each grant to ensure they align with your business needs and objectives.

2. Preparing documentation: Gathering necessary documents is crucial. Commonly required documents include:

•   Business plan: A comprehensive plan outlining your business goals, strategies, market analysis, and financial projections.

•   Financial statements: Recent balance sheets, income statements, and cash flow statements to demonstrate the financial health of your business.

•   Tax returns: Personal and business tax returns from the past few years.

•   Proof of ownership: Documentation proving ownership of the business.

•   Letters of recommendation: Endorsements from business partners, clients, or community leaders.

•   Project proposal: A detailed description of the project or purpose for which the grant is being sought, including timelines and expected outcomes.

3. Writing the grant proposal: A well-written grant proposal is key to a successful application. It should clearly articulate the need for funding, how the funds will be used, and the anticipated impact on the business. Tailor each proposal to address the specific requirements and objectives of the grant program.

4. Submitting the application: Follow the grant provider’s submission guidelines meticulously. This may involve filling out online forms, mailing physical documents, or submitting via email. Ensure all required fields are completed and documents are included.

5. Follow-up: After submission, follow up with the grant provider to confirm receipt of your application. Be prepared to provide additional information or clarification if requested.

By understanding and carefully navigating the grant application process, businesses can increase their chances of securing valuable funding to support their growth and innovation.

Do You Have to Pay Back a Small Business Grant?

A small business grant typically comes with terms and conditions, and you may be responsible for paying back the grant if you violate those terms. Absent any violations, though, small and midsized business owners are generally not required to pay back a small business grant.

You typically have to sign a funding agreement to accept a small business grant. As mentioned above, the grant may come with certain conditions. Using the grant for an illegitimate purpose may violate the agreement and require business owners to pay back the grant.

Small business grants may require you to spend the money by a certain date. You may also have to provide proof of payment and a written statement detailing how you’ve spent the grant.

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Who Is Eligible for Small Business Grants in California?

Local business owners or operators of an enterprise with fewer than 500 employees may be eligible for small business grants in California.

The U.S. Small Business Administration’s Office of Advocacy generally defines a small business as an independent business having fewer than 500 employees. Any small business, including individuals with freelancing business ideas, may be eligible for California grants for small business.

Tips for a Successful Grant Application

Competition for California business grants can be intense, so you’ll want to do everything you can to stand out. Here are some ways to increase the odds of getting your grant approved

•   Research the grant. It can be worthwhile to research the funding agency or organization, the grant’s history, and past awardees. Using this information in your proposal as it applies will show you did your homework.

•   Read samples. You can ask if the grant you’re applying for can provide samples of past winners’ proposals. These can give you a general idea of how yours might stand out

•   Follow instructions to the letter. Allow plenty of time to complete your proposal so you don’t miss key requirements. Make sure you include in your proposal everything that’s specified and present this information exactly as requested.

•   Be specific. Include plenty of detail about your business plan and financials, statistics to back up your problem statement, and research on the audience you want to serve.

Who Provides Small Business Grants in California?

State government agencies, including the California Department of Rehabilitation, offer a variety of small business grants in California. The state’s Office of the Small Business Advocate (CalOSBA) also administers funding opportunities, including grants for innovation and technical assistance.

You can compare small business grants in California with similar programs in other states, such as:

•   Florida small business grants

•   Indiana small business grants

•   New York small business grants

California Resources for Small Business Owners Looking for Funding

Here are some resources for small and medium-sized businesses looking for funding in the Golden State.

California Small Business Development Center (SBDC)

The California SBDC is a statewide program that can provide small business owners with the following services:

•   Confidential advising

•   Connecting tech entrepreneurs with venture capital

•   Interactive training sessions

SBA District Offices in California

The U.S. Small Business Administration (SBA) is a federal agency that provides resources and support to small business owners. This may include startup business loans available through its 7(a) loan program. The SBA has six district offices in California:

•   SBA Fresno District Office. This SBA district represents California’s San Joaquin Valley and Central Coast. The office is centrally located in Fresno.

•   SBA Los Angeles District Office. This SBA district serves three counties in southeastern California (Los Angeles, Santa Barbara, and Ventura). It’s located in Los Angeles.

•   SBA Orange County / Inland Empire District Office. This SBA district covers three southern California counties (Orange, San Bernardino, and Riverside). Depending on where you’re based, you may be served by the main office in Santa Ana or the branch office in Palm Desert.

•   SBA Sacramento District Office. This SBA district serves 21 counties in northeastern California. It’s located in Citrus Heights.

•   SBA San Diego District Office. This SBA district serves the southernmost counties in California (San Diego and Imperial). It’s based in San Diego.

•   SBA San Francisco District Office. This SBA district serves 14 counties in northern California, including south of the Bay Area in Santa Cruz and along the Oregon border in Del Norte. It’s based in San Francisco.

SCORE Mentorship Programs

The Service Corps of Retired Executives, known as SCORE, provides free mentoring for small business owners as well as would-be entrepreneurs. Volunteer mentors meet with clients to discuss business goals; they also offer consulting services and tips on best practices. All business information is kept confidential per the agency’s agreement with mentors.

Alternative Funding Sources for Small Businesses in California

Here are some alternative funding sources for small businesses in California.

California State Small Business Credit Initiative (SSBCI)

California’s State Small Business Credit Initiative is a federally funded program for small business owners in the Golden State. Federal law — the American Rescue Plan Act of 2021 — allocates nearly $1.2 billion to California’s SSBCI program. Note that SSBCI 2.0 programs are not direct loans or grants. Instead, when small businesses apply for ordinary loans, financial institutions can enroll the loan in one of the programs listed below.

Here’s how California plans to use the SSBCI funding:

•   California Collateral Support Program — $472.8 million. This program provides cash collateral to help companies qualify for small business loans.

•   California Small Business Loan Guarantee Program — $391 million. This program operates under the California Infrastructure and Economic Development Bank. It works with lenders to help California small business owners access funding, including financing for startup costs, construction, inventory, working capital, and business expansion.

•   California Capital Access Program (CalCAP) — $118.2 million. This program, also known as CalCAP for Small Business, uses SSBCI matching funds to support portfolio insurance on small business loans.

•   Inclusive California Initiative — $100 million. This program helps provide funds to venture capitalists who have a track record of investing in California small businesses owned by socially and economically disadvantaged individuals.

•   Emerging California Initiative — $50 million. This program provides venture capital funding to underrepresented managers and fund managers who intend to invest in small businesses owned by socially and economically disadvantaged individuals.

•   California Co-investment Initiative — $50 million. This program will help provide venture capital funding to eligible businesses, including those owned by underrepresented individuals or based in underserved regions of California.

California Microloan Lenders

Community-based nonprofits may offer microloans of up to $50,000 to small business owners in California, including microloans for women-owned small businesses. In general, microloans can range from $500 to $50,000 and may be available to startups.

California Small Business Loans from Private Lenders

Banks, credit unions, and private lenders may offer different types of small business loans to California business owners.

Here are some of the funding products you may consider depending on your needs:

•   Commercial real estate loans

•   Equipment financing

•   Small business loans for startups

•   Working capital lines of credit

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The Takeaway

Small businesses are eligible for a number of grants in California, with grantors ranging from state or local governments to private sources. It may take some research to find grants that match the description of your small business, but those are the ones you’ll have the best chance of winning.

If you’re seeking financing for your business, SoFi is here to support you. On SoFi’s marketplace, you can shop and compare financing options for your business in minutes.

FAQ

How do you get a small business grant in California?

You can apply for California small business grants, but there’s no guarantee you’ll get approved for one. You may have to submit a grant application as a qualified small business owner to be considered for a small business grant in California.

How hard is it to get a business loan in California?

You may have difficulty getting a small business loan in California if you have bad credit or insufficient business experience. You generally have to pay back business loans with interest.

What is the easiest SBA loan to get approved for?

There’s no guarantee you’ll get approved for any SBA loan, but SBA microloans may be one of the easier types to get if you’re a new business owner. Startups may be eligible for SBA microloans of up to $50K. If you’re looking for a streamlined application process, SBA Express working capital loans are an option you may consider.

What grants are available for minority business owners in California?

In addition to the many national programs that may award grants to Californians, there are state-specific small business grants as well. Agriculture and tech businesses are often specified.

Here are a couple of examples:

•   Fueling Emerging Entrepreneurs (FEE): This grant initiative and virtual pitch competition provides $5,000 microgrants to small businesses across Los Angeles County. The FEE program specifically targets entrepreneurs in low-to-moderate income communities and those who have historically faced barriers to accessing capital.

•   Specialty Crop Block Grants: Funded by the U.S. Department of Agriculture (USDA) and the California Department of Food and Agriculture, Specialty Crop Block Grants are available to small growers from historically underrepresented groups. The USDA provides a list of eligible crops on its website.

Can I apply for multiple grants at the same time in California?

Yes, you can apply for more than one small business grant within the same period of time. Diversifying your possible funding sources reduces the reliance on a single grant program and can improve your chance of success. However, you’ll want to manage your time and resources carefully when putting together applications, being mindful of specific documentation requests, requirements, restrictions, and deadlines.

Photo credit: iStock/andreswd

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