Small Business Grants: Where to Find Funds

The lure of free money is certainly appealing — especially for small businesses searching for much-needed business funding. But be warned: looking for small business grants can be somewhat like hunting for buried treasure. Along the way you’ll encounter plenty of false leads and dead ends in the form of expired web pages, broken internet links, and phony offers.

Nonetheless, legitimate small business grants, though elusive, do exist, mostly through local, state and federal government agencies. Occasionally, nonprofits and private corporations will also offer business grants (FedEx, for example, holds an annual small business grant contest).

Business grants, unlike small business loans, don’t have to be repaid. However, business grants often have strict requirements as to who qualifies and how the money can be used.

If you are looking for a small business grant, consider the following resources.

State and regional small business grants

You’ll save time in your grant-finding quest by first seeking the support of local government agencies. Regional economic development offices and Small Business Development Centers can provide you with area-specific information on small business funding, including grant opportunities like the following business grant resources in Utah and Idaho:

Utah Small Business Grant Resources

Utah Technology Innovation Funding (UTIF) program. This business funding initiative supports Utah small businesses as they develop new technology and products through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

Rural Fast Track (RFT) Program. If you own a small company in rural Utah, you may be eligible for an RFT grant, which provides incentives for creating high paying jobs in the rural areas of Utah.

Idaho Small Business Grant Resources

State Trade Expansion Program (STEP). Idaho businesses looking to expand into international markets through exports may benefit from a STEP grant.

Idaho Department of Commerce. The Idaho Department of Commerce’s website posts grant opportunities from across the entire state of Idaho as they become available.

Federal small business grants

Certain businesses, particularly those in high-tech fields, may qualify for small business funding in the form of federal grant money.

Beware of Small Business Grant Fraud

Beware of third-party websites, sometimes masquerading as government sites, which promise to reveal valuable government grant information or apply for grants on your behalf in exchange for money and/or personal information.

There should never be a cost to you in applying for a federal grant and any financial information required should be submitted directly through a government website like one of the following:

Small Business Innovation Research. If your small business is involved in scientific research and development, you may qualify for federal grants under the Small Business Innovation Research and the Small Business Technology Transfer programs.

U.S. Department of Agriculture Rural Development. The USDA provides a variety of grant programs, including rural business development grants, for small businesses serving rural communities.

Grants.gov. This government-administered website features a database where individuals and entities can find and apply for federal grants. The search feature allows you to filter by eligibility, category and agency to find small business grants specific to your needs.

If grant funding for your business proves to be completely elusive, consider a U.S. Small Business Administration loan from Zions Bank. SBA loans have a variety of uses, including purchasing real estate, working capital or export financing.

You can talk to a Zions Bank representative by phone or at any Zions Bank branch to determine which SBA loan is right for your small business and to answer any further questions you have about SBA loan rates, SBA loan amounts and repayment terms.

1. SBA loans subject to credit approval and SBA approval. Terms and conditions apply. See a banker for details.