Incfile launches small business grants for startup founders and student entrepreneurs

Getting started is one of the most challenging times for a small business owner. It is also the time when many entrepreneurs have access to fewer resources. So, small business grants can be especially helpful for new and potential startup founders. Two new startup grant opportunities were launched this week, including one specifically for young founders. Read more about these and other subsidy options below.

Incfile Fresh Start Business Grant

Business archiving service Incfile offers grants to support new businesses. The Fresh Start Business Grant is open to both starters and seasoned entrepreneurs starting new businesses. The winner of the competition will receive $2,500 to spend on startup costs and free training services from Incfile. Applicants must be at least 21 and reside in the US. The process includes an online application, a short video and a sample business plan. The first deadline for 2022 is June 30, but there are also additional rounds ending on September 30 and December 31.

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Incfile Young Entrepreneur Scholarship Grant

In addition, Incfile is also launching a subsidy program for student entrepreneurs. The Young Entrepreneur Scholarship Grant awards $2,500 to a US high school, undergraduate, graduate, or trade school student. To be eligible, students must have a GPA of 3.0 or higher and have an interest in starting a business. Interested students should submit an online application, a short video, and a sample business plan. Then the money goes toward continuing education toward your business goals. The deadlines for 2022 are June 30, September 30 and December 31.

Caress Dreams Fund

The Caress Dreams Fund is an ongoing grant program that supports businesses owned by women of color. The program runs through the IFundWomen of Color platform and involves a $1 million investment from Caress. In addition to grants of $5,000, the program also includes a business accelerator, coaching, creative services and educational resources. IFundWomen of Color organizes several rounds per year. Applications for the fall session are now open through July 8.

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Small Business Grant and Loan Program in Nashville and Davidson County

Nashville and Davidson County, Tennessee recently unveiled an $18 million grant and loan program for small businesses. Pathway Lending will administer the funds, which are available through federal allocations from the US Rescue Plan Act. To qualify, companies must have a physical address in Davidson County, have annual revenues between $10,000 and $1,000,000, and no more than 50 full-time employees, among other criteria. Applications are now available and the deadline to apply is July 31.

San Antonio Small Business Grant Program

San Antonio, Texas recently approved a new small business grant program funded through the American Rescue Plan Act. Under the new program, small businesses can apply for between $15,000 and $35,000. In total, the city council has designated $17 million for the program. To be eligible, companies must be able to show a loss of at least 20 percent in gross revenues between 2019 and 2021. Full details, including an application deadline and full criteria, have not yet been determined. But by the end of the year, the city hopes to distribute all the funds.

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NJ Small Business Fund

The New Jersey Economic Development Authority originally launched the NJ Small Business Fund in February. The program still offers grants that cover up to $50,000 or 50 percent of the costs for eligible improvement projects. To qualify, businesses must be small businesses or women or minority-owned businesses in New Jersey that own or operate a physical location. Businesses must also be creditworthy and not default on state aid programs. The program is still open and accepting applications on a rolling basis until all funds have been distributed.

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