Small Business Grants Types

Most small business owners commit one common mistake and this is misunderstanding the exact meaning and types of small business grants available. It is a fact that different types of small business grants are available, but the prospective business owners have to go for the one that is made for them. Those who are new into this arena of small businesses can simply make a visit at the office of SBA (Small Business Administration) to know the various available options.

Types of Small Business Grants

Not all business owners qualify for small business grants as the eligibility parameters are different in each case. There are generally two types of small business grants available.

  • Small business grants available to certain members of the society: - These types of small business grants are generally provided by state or federal government to disabled citizens, minorities, women and veterans. The ones, who feel that they are not going to fit in this particular category, should make efforts to look out for the other available options.
  • Small business grants to people in some specific areas:- In this, the state and the federal government provides small business grants to the ones who are living in any disaster affected area, any rural or underdeveloped area or any low income area. The ones who have lost their earnings due to any disaster or are living in an area that has no development to support their business venture can be qualified for small business grants.

As the qualification parameters for these small business grants differ from one grant to another, it is always feasible to check out the grant for which one seems eligible before putting a business plan in front of the authorities. There are many agencies that provide small business grants; one just has to find a suitable one.

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