Take these 5 steps to start securing grants for your small business today.
DreamSpring, a nonprofit Community Development Financial Institution (CDFI) and U.S. Small Business Administration (SBA) lender, is committed to fostering economic inclusion and empowerment in underserved communities. While DreamSpring does not directly provide small business grants, we are dedicated to helping entrepreneurs access the resources they need to thrive — whether they’re just starting out or looking to grow. In this article, we’ll outline 5 steps you can take to start securing grants for your small business today.
- Stay Informed: To keep up with the latest grant opportunities, we recommend subscribing to SpringBoard, DreamSpring's business resources newsletter. You’ll receive a monthly digital digest delivered right to your inbox with updates on grant programs, funding opportunities, and other useful resources to support your small business.
- Explore DreamSpring's Blog: DreamSpring's Business Resources Blog offers valuable insights into numerous funding options and business development opportunities for entrepreneurs. Read our article on “Funding Your Small Business with Grants” to learn more about different grant programs, tips for a successful application, and strategies to maximize your chances of securing a grant.
- Research Grant Programs: Invest time in researching grant programs that align with your business goals and industry. Government agencies, foundations, corporations, and nonprofit organizations often provide grants to support small businesses. Identify relevant programs and thoroughly review their eligibility criteria, deadlines, and application requirements.
- Develop a Solid Business Plan: A well-crafted business plan is crucial when applying for grants. It demonstrates your vision, mission, target market, and financial projections. By presenting a comprehensive plan, you increase your chances of standing out and attracting grant funders.
- Tailor Your Grant Applications: Customize your grant applications for each funding opportunity. Highlight how your business aligns with the grant's objectives, and emphasize the positive impact your business will have on the community. Provide compelling evidence of your business's viability and sustainability.
DreamSpring offers loans and lines of credit with affordable and flexible terms. Though we don’t offer small business grants ourselves, we are dedicated to connecting entrepreneurs with resources that can help them secure the funding they need. Subscribe to our SpringBoard newsletter for the latest updates on grant, incubator, and pitch competition opportunities, and visit our Business Resources Blog for ideas, inspiration, and opportunities for start-ups, established entrepreneurs, and scaling businesses. By being a part of DreamSpring’s ecosystem of small business support, you can increase your chances of securing grants to fuel your small business's growth and success.