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Grants, Scholarships and other Self-Employed Funding Opportunities for Small Business Owners

Grants, scholarships, and other funding opportunities positively impact the growth of small businesses and are beneficial to self-employed small business owners. They can help grow startup businesses without debt, provide valuable resources, and can even help companies recover losses. The application and selection process can be competitive, but just one proposal can provide significant funds making it worthwhile. It is important to know the different types of grants, scholarships, and funding opportunities available to small business owners, so you can choose what is the best fit for your company and start planning for the application process.

The National Association for the Self Employed (NASE) Growth Grant
The NASE Growth Grant, with sponsorships from Dell, AARP and PayAnywhere, is awarded to four companies each quarter. Each NASE Growth Grant winner receives up to $4,000 to support the growth of their business. Companies can use the additional capital provided by the grant to hire and train additional employees, market and advertise their business in new and exciting ways, invest in new equipment or software, expand their facilities or for other specific business needs to grow their company.  Since 2006, the NASE has awarded over $1,000,000 to its members. There are no business requirements for these grants other than being a member and providing details on how you plan to use the grant to help your business grow. Join NASE, and you can apply for the quarterly Growth Grant opportunities.

NASE Growth Grant’s Positive Impact on Small Business Owners
“This grant helped me to maintain our class schedule, pay our instructors, staff and our rent as we refocus our new business model.  Paying my team has always been the most important thing for me - and NASE made this possible.” ~ Julie Wilkes

“Thank you for rewarding T-shirt Mayhem with the substantial grant that allowed us to work towards our future endeavors and effectively guide the company on a journey for success. The grant provided the necessary means for establishing a foundation and framework for the business.” ~ Rose Jean

“My wife and I are extremely happy to hear the news, what a game changer for our small business! We cannot wait to use the grant funds to purchase equipment as we specified in the statement of grant use and get the NASE badge on our website!” ~ Trevor Barrett

“I just want to thank you from the bottom of my heart for the $4,000 growth grant I was awarded for my new business, Li’l Talkers Speech. It is helping me purchase much needed materials to work with young children with significant communication delays.” ~ Roxana Jordheim

“We received our check in the mail yesterday, and it couldn't have come at a better time! We are looking forward to allocating this funding toward critical next steps in our product development!” ~ The Juggernaut Cargo Bike Team

“I am absolutely thrilled to have been chosen as a Growth Grant recipient, and I'll be able to take a huge step forward as a result. Thank you NASE for the tremendous honor of winning my first small business grant.” ~ Amy Bourgeois

More Grants, Scholarships and Funding Opportunities

Backing Small Business Grant Program
The Backing Small Business grant program helps small business owners who are economically vulnerable recover from the impact of the COVID-19 pandemic and grow their business. This year, the program will award more than $2.3 million to 350 small businesses. The program also features enhancement grants where those who are awarded a $5,000 grant may be eligible for an additional $25,000 enhancement grant.

Small Business Innovation Research (SBIR) Grant Program
The SBIR offers up to $1 million in grant funding to startups and small businesses across technology areas and markets to stimulate technological innovation. Funding supports small businesses in participating in federal research and development projects to realize their commercial potential. To be eligible for SBIR grants, you must have a business that is American-owned, for-profit, and has less than 500 employees.

Small Business Technology Transfer (STTR) Grant Program
The SBIR and STTR programs, are often referred to as the largest source of early stage/high risk funding for start-ups and small businesses in the nation since they both award up to $ 1 million in grant funding. The STTR is also focused on funding companies in the research and development arena but has the requirement that the small business have a formal collaboration with a research institution.

Fast Break for Small Business Grant Program
LegalZoom, the NBA, WNBA and NBA G League have partnered with Accion Opportunity Fund to support small businesses with $6 million in grants and services. This program focuses on helping businesses in underserved and underrepresented communities by awarding $10,000 in grants and up to $500 in LegalZoom products and services. Applications open during the NBA season, which runs from fall to early summer each year.

Verizon Small Business Digital Ready Grant Program
Verizon’s Small Business Digital Ready grant program awards $500,000 in funding to small businesses. The Verizon Small Business Digital Ready is an online resource designed to give small businesses the tools they need, such as free personalized learning through courses, mentorship, peer networking, coaching, and incentives such as grant funding. To be eligible for a $10,000 small-business grant, entrepreneurs must register through the Verizon website and complete at least two of the following: courses, live coaching or community events.

FedEx Small Business Grant
The FedEx Small Business grant awards funding to small-business owners each year. To apply, you must own a U.S.-based, for-profit small business that has been operating at least six months, with less than 100 employees. This annual competition awards over $250,000 to 10 small businesses, including a $30,000 grant and $1,000 in FedEx print credits to its grand prize winners. One U.S. veteran winner of the 10 grand prize winners will get an additional $20,000 from USAA Small Business Insurance.

Amber Grant for Women Grant
WomensNet founded the Amber Grant that gives at least $30,000 every month and two $25,000 grants annually. The application process is simple. Fill out one application about yourself and your business dream and you’ll be eligible for all Amber Grants. The grant requirements are that the business be at least 50 percent women-owned and U.S. or Canada-based. The foundation also gives additional funding throughout the year.

Venmo Small Business Grant
If you are a micro business owner, who has a valid business profile on Venmo in good standing, check out the Venmo Small Business Grant program. It awards 20 eligible small businesses with $10,000 grants, along with public promotion on the Venmo and PayPal websites and social profiles. The grant winners will also receive business resources and professional consulting services to support their micro business. To qualify, you must have a business that makes less than $50,000 in annual sales, 10 employees or fewer, a U.S. Venmo account and valid business profile on Venmo in good standing.

Incfile Fresh Start Business Grant
The Incfile Fresh Start Business grant awards $2,500 to help an entrepreneur who is starting a business from scratch cover startup costs or a business owner looking for a second opportunity with a reboot. The grant winner will also receive a free tax consultation from Incfile, free Registered Agent services for a year, and free formation services in their state. To qualify, you must be a U.S. resident over 20 years old and planning to start a new business or grow an existing one.

Walmart Local Community Grants
The Walmart Local Community Grants program hands out monthly grants totaling $10,000 to small nonprofit organizations and $25,000 to one annual winner. The grants range between $250 to $5,000 to help enhance the organization’s contributions to its local community. To apply, your organization must be non-profit and CyberGrants FrontDoor verified.

U.S. Chamber of Commerce Dream Big Awards
The annual U.S. Chamber of Commerce Dream Big Awards recognizes small businesses for their contributions to American economic growth and perseverance. The Small Business of the Year awards a grand prize of $25,000 to the small business owner. The competition gives eight other awards to businesses in a variety of categories with associated prizes.

National Institute of Health (NIH) Small Business Education and Entrepreneurial Development (SEED) Fund
The National Institute of Heath offers funding opportunities to provide resources for small businesses with an emphasis on innovation research and technology. Whether you own a small business or family business, there is $1.2 billion in funding available through the NIH SEED Fund.

Driving Small Business Forward Fund Program
The Progressive Driving Small Business Forward fund program will provide $25,000 towards a commercial vehicle to 10 Black-owned small businesses. To qualify, you must own a for-profit business that is owned and operated by a Black-identifying entrepreneur. The business must also have 10 or fewer employees, make less than $5 million in annual gross revenue, and have a need for a commercial vehicle to run the business.

500 Global Flagship Accelerator Program
If you are growing a business in Silicon Valley, then the 500 Global Flagship Accelerator Program is for you. The program awards a $150,000 investment to Silicon Valley startups to focus on growth and scaling. Grant winners also receive access to a growth program to further accelerate promising startups. Applications are accepted on a rolling basis.

Thiel Fellowship Scholarship
The Thiel Fellowship scholarship awards $100,000 to entrepreneurs who are 23 or younger that are more focused on building a business than academics. The large prize amount is spread over two years. The application process is simple and requires you to write 500 words describing your project or company. To be eligible, you also must not be enrolled in any academic courses.

Insureon Small Business Scholarship
The Insureon Small Business Scholarship awards two students prizes of $2,500. To qualify, candidates must be an undergraduate student enrolled at a four-year college or university. The application process includes submitting a short essay between 500-700 words about a business idea and pitch via an online submission.