Small business grants: our top picks for 2022-2023
Small businesses, huge adventures.
Many small businesses find themselves in an age-old dilemma: their idea is sound, but they need a little help while gaining traction. The truth of the matter is that many fantastic business ideas don’t turn a handsome profit on day one—in fact, most don’t (e.g. just about every successful startup of the last two decades). Thankfully, some major players have stepped in to help bridge the gap with generous small business grant programs. So, in the meantime, to keep morale high while margins might be low, let’s explore these lucrative opportunities.
Leading off: Verizon Small Business Digital Ready
One of America’s largest phone carriers is primed to give back to the community through an extensive small business grant program. In its own words, Verizon is seeking to “provide resources to help one million small businesses thrive in the digital economy.” Sounds noble enough. In addition to the chance to win a $10,000 cash payout, the Verizon program also offers all applicants free educational resources to help equip their small businesses for growth. Some of these fun bonus opportunities include Verizon learning modules, coaching from industry experts, and peer networking. Verizon does not publicize application or winner statistics for the program, but, considering that every applicant receives additional tools to help grow his or her business, we see no reason why you shouldn't give it a go.
Application deadline:
November 14, 2022.
Application requirements:
(via Verizon) “To be eligible to apply, users must complete any combination of 2 courses, coaching events and community events between 7/1/22 and 11/14/22, and apply by 11/14/22. Engagements through Personalized Mentoring feature are not included towards grant eligibility.”
Winners Announced:
The $10,000 winners are announced periodically throughout the year.
Additional information and the application are available on Verizon.com (and right here).
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On deck: Hello Alice 2022 Small Business Growth Fund
Ah, we love a good grant contest with very few strings attached. For Hello Alice, eligibility is simple: own a small business and have a dream. Easy enough. The application itself, however, is slightly less simple. While there is a relatively low barrier for entry, be ready to write. Multiple short essays are required so Hello Alice can get a better sense of each applicant. In addition to offering a series of $5,000 grants, Hello Alice also offers credit line programs specifically designed for burgeoning small businesses. The Growth Fund selects multiple rounds of winners, so we suggest dusting off that old keyboard, dramatically cracking some knuckles, and getting to writing.
Application deadline:
October 14, 2022 at 6:00PM ET
Application requirements:
(via Hello Alice) “Be a for-profit business; Have less than $1M in 2021 gross annual revenue; Have a commitment to community; AND Have a clear plan for how the funds would help achieve a business milestone.”
Winners Announced:
Week of November 14.
The application, along with some fun additional information, is available on Helloallice.com (and right here).
In the number three spot: The Fedex Small Business Grant Contest
In addition to winning the Triumph Award for most creative grant contest name, Fedex’s program also offers a large pot of potential capital. Last year, the contest served up over $340,000 in grants to the winners. Now, keep in mind, this contest is as competitive as it is lucrative. Last year, 18,000 applicants vied for 10 winner spots—but hey—someone has to win, so why not you?
Application deadline:
Oct 07, 2022 at 6:00pm EDT
Application requirements:
(via Fedex) “Typically, any eligible for-profit small business with a FedEx shipping account number that has been in continuous operation selling a product in market for at least six (6) months by the time the contest starts , has fewer than 99 employees, and has a shipping need for their business is eligible to enter the contest.”
Winners Announced:
Businesses chosen to receive grant money are typically announced in May.
The application is available on Fedex.com (and right here). Additional information can be found on the Fedex Contest Page.
Batting Clean-up: Stacy’s Rise Project
Calling all women-owned (or co-owned) businesses, this is the grant program for you. This year, Stacy’s Rise Project is set to fund 10 women-owned businesses with their own $15,000 grant. Stacy’s is no stranger to the small business philanthropy game, however, as the company has shelled out over $1 million dollars in grant money since 2017. In addition to the money, winners also receive a fun box of goodies including: four months of PepsiCo executive mentorship, increased visibility through Stacy’s brand platform, access to a female entrepreneur peer network, and a featured ad in the FoundedByHer.org business directory. This opportunity is available to residents of both the US and Canada so, whether you’re north or south of the border, we recommend you hop in on the action.
Application deadline:
October 21, 2022
Application requirements:
(via Stacy’s) applicants must “be a for-profit U.S.-based business selling a consumer packaged good (CPG); Must have at least $25,000 and no more than $1M in annualized sales; Must be at least 50% woman-founded (based on original founding, not current investment ownership) or currently 50% woman-owned.”
Winners Announced:
January 2023
The application, along with some fun additional information, is available on Stacyssnacks.com (and right here).
Happy Hunting
While this list is not exhaustive (nothing on the internet really is), we do believe it’s a great start for up-and-coming small businesses looking for some extra capital. Best of luck in the process, and, should you win and eventually become a new member of the Fortune 500, make sure to let us know when you IPO.
As always, feel free to Ask Triumph with any additional questions and consider Supporting the Team.
All views expressed in the article are opinions of the author and should not be misconstrued as professional consulting or legal advice. Users are responsible for verifying all information before taking action, and Triumph Group LLC is not responsible for any outcomes. Pursue subjects at your own risk. Seriously, man. It’s your life.
