Despite what the late-night infomercials want you to believe, the federal government does not provide grants for business expansion and growth. There is no “free” money for you to start or grow a business.
Grants.gov is the source to find and apply for federal grants. Grants.gov is a central storehouse for information on over 1,000 grant programs and provides access to approximately $500 billion in annual awards. It does not provide personal financial assistance.
First Time Applicant?
Review these videos and resources for helpful tips for MBDA Grant Competition Submissions
The MBDA Grant Application in 5 Easy Steps
Register your business to apply for a MBDA grant.
To register your business to obtain a DUNS number so that your application can be tracked. Next register with SAM. To do this, you will need the authorizing official for your organization, and an Employer Identification Number. These two numbers are needed to create a Grants.gov account
Understand the Grant Announcement.
Visit the specific grant page on MBDA.gov to learn more about the program and find frequently asked questions. Then, locate and download the grant application package from Grants.gov. Please review the YouTube video: Making a Reasonable, Allocable, and Allowable Budget for a Federal Grant: https://www.youtube.com/watch?v=RTEPURiLww...
Attend a pre-application teleconference to learn more about the grant and requirements. All pre-application teleconference presentations are also available on the specific grant webpage at mbda.gov for future reference. Please review the YouTube video: Grants Process Overview: https://www.mbda.gov/grants?utm_content=&u...
Understand the evaluation process. Thoroughly read the announcement, paying special attention to key sections of the announcement. Check your eligibility in Section C, finds the deadline and requirements in Section D, and learn about the selection process in Section E. When complete draft your application and make sure that you address all requirements outlined in the announcement. Please review the YouTube video: Ingredients for a Great Budget: https://www.youtube.com/watch?v=ECfMVXlEBV...
Prepare and Submit Application. When application is complete, log onto Grants.gov and submit application. Application MUST be submitted before deadline. After submission, print confirmation of submission.
Loans
Financing a business is never simple whether it's a start-up or a business that's been around for years. From initial seed money to working capital needed to keep operations going and to pay bills, access to capital remains a major barrier to many minority-owned firms.
Get started by gathering together some basic loan documentation.
MBDA does not provide loans or grants to start or expand your business. The grants MBDA does provide are to organizations that operate MBDA's Minority Business Centers throughout the United States. These organizations provide business consulting, procurement matching and financial assistance to minority-owned firms.
