Getting money for your Ohio small business can be exciting with grants. But since many people want them, and applying takes time and work, you should look into different grant programs. Find the ones that fit what your business needs.
Here is a list of grants for small businesses in Ohio and some extra tools that might be useful when applying for these grants.
Ohio-specific awards for small businesses
State, local, and city funding plans are there for Ohio businesses. But, before you spend time and energy applying, it’s crucial to check if the money for the grant is available for this year.
Ohio Department of Development Awards
The Ohio Department of Development helps businesses in the state, and they have some programs to give money:
Global Market Access Grant for Exporters (IMAGE): If a business qualifies, they can get up to $10,000 each year. This money pays back 50% of the costs they spend while growing their sales in other countries. To get this grant, a business needs to make money, have something they can sell overseas, and be working for at least a year (among other things).
Ohio Meat Processing Grant: People in Ohio who raise animals for meat can get grants up to $250,000. This money helps them pay for things like making their processing better, keeping the food safe, growing their work, and training their workers. The place where they process the meat has to be in Ohio and trying to make a profit.
Grant for JobsOhio Inclusion
JobsOhio is a group that helps businesses grow in Ohio. They have a special program called the JobsOhio Inclusion Grant (JOIG). This program is for small to medium-sized businesses in areas that need extra help.
It’s also for businesses owned by minorities, women, veterans, or people with disabilities. To qualify, a business should be running for at least a year and make between $100,000 and $25 million. The grant can be up to $50,000 and can be used for things like machines, buildings, and improvements.
Toledo regional grant projects
The Department of Economic Development has some helpful grants for businesses in Toledo:
Building Look-Better Program: This program gives back half (50%) of the money you spend making the outside of your business look nicer. You can get back up to $40,000, but at least $10,000. To qualify, you need to own or be buying the building and have all your taxes, utility bills, and other payments to the government up to date.
Inside Fix-Up Program: This program gives back 70% of the money you spend fixing up the inside of your building to meet codes and be accessible. The smallest amount you can get back is $25,000, and the most is $75,000. To apply, you must be the owner of the building when you get the grant and be on track with your payments to the government.
Cleveland Tech Delta Partnership
Companies in technology and medicine that are thinking of coming to or growing in Cleveland might want to check out the Tech Delta Program run by the Cleveland Department of Economic Development.
They give grants based on the space you use (like $5 for every square foot) with a top limit of $50,000. To qualify, the business needs to be for-profit and should make at least five new, full-time jobs because of the move or expansion to Cleveland.
Grants for Making Oxford Business Exteriors Better and Eco-Friendly
Oxford, Ohio helps businesses with grants for making their buildings better. You can get up to $2,500 or half of the money you spend on the project. This money is for fixing how the outside of the building looks and making it more eco-friendly.
It also helps with things like heating, insulation, and saving water and energy. After the work is done, the businesses get the money. To get this help, businesses must have been open in Oxford for at least one year. You can apply for the grants until February 29, 2024. In March, the winners will be announced.
Lorain City Program for Non-profit Capital and Important Improvements (NCCIF)
The Lorain City’s Building, Housing, and Planning Department is giving a chance for non-profit groups in the city to get support through the Lorain Non-profit Capital & Critical Improvement Fund (NCCIF) Program.
This program offers money that can be used for making inside and outside improvements to buildings and expanding the facility. The awards can be as much as $75,000. To qualify, groups must be tax-exempt according to the IRS and offer services to people who live in Lorain.
Grant for Government Equity and Economic Development in Montgomery County
For companies in Dayton and nearby areas, there’s a grant called the Montgomery County ED/GE Grant. This program gives money twice a year, in spring and fall. The funds can be used for building new structures, fixing up existing ones, improving utilities, adding parking, and doing other lasting projects. The local authorities ask for the money on behalf of the business.
Grant programs at the national level that Ohio small businesses can apply for
Many little-business gifts given by the national government and big companies are there for Ohio little businesses. Here are some points to remember:
Grants.gov
Government help for small businesses is available through different federal groups, and you can discover them on Grants.gov. You’ll also find details about how to get these grants. Many federal groups, such as the U.S. Department of Labor, the National Endowment for the Arts, and the National Science Foundation, provide these grants.
Partnership for Investors in Microbusiness Owners
The U.S. Small Business Administration (SBA) has a program called PRIME, which stands for Program for Investors in Microentrepreneurs. This program is made to assist people with lower incomes who want to start or grow their small businesses. PRIME gives grants to organizations that help small businesses, so they can offer money, training, and support to those who need it.
The Americas Seed Fund
Made to help small businesses in the tech field, the America’s Seed Fund gives grants from $50,000 to $1.8 million.
The money comes from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Businesses in the U.S. making a profit with less than 500 workers can apply.
The grants go through three steps, starting with proving the concept, then developing it, and finally getting it out to the market.
WomensNet Grants
Ladies who run small businesses in Ohio might think about the help given by WomensNet. They give out Amber Grants, Startup Grants, and Business Category Grants every month, each worth $10,000.
Additionally, at the end of the year, there are separate $25,000 grants for each category. You don’t have to choose a category, but if you apply, your business will be considered for all three.
Kitty Fund Award for Mompreneur Business
The Kitty Fund Mompreneur Business Grant is a special program across the country that helps businesses run by moms with two or more workers. Small grants of $1,000 will be given to 25 businesses. You can sign up early now, and the complete application will start in March 2024.
Challenge of Military Entrepreneurship
The Military Business Contest (MBC), organized by the Second Service Foundation, is a countrywide support initiative for veterans, their spouses, and entrepreneurs from Gold Star Families. It consists of three parts and wraps up with a chance to receive a small fund for your little business. The amount of the fund awarded depends on the specific event.
Free resources available to small businesses in Ohio
Ohio small businesses can get free help to get ready for a grant application and other funding options.
The SBDCs (small business development centers) located in Ohio
Whether you’re beginning a little business or growing one you already have, your nearby Small Business Development Center can offer free or inexpensive business advice, classes, and help with things like money predictions, understanding cash flow, finding funds, and researching marketing. These centers are in various places across Ohio.
SCORE
SCORE is a group that doesn’t make money and has people who want to help. They are all around the country and give free advice about making and planning businesses. The helpers also talk about money and other important things. SCORE also gives lessons online, like classes and videos. You can find SCORE offices in Columbus, Cincinnati, Toledo, and some other places in the state.
Centers for Minority Business Assistance
Help is free for small, minority-owned, and disadvantaged businesses at Minority Business Assistance Centers in Ohio. They provide services like help with accounting, making marketing plans, and guiding to financial aid programs, among other things.
Advice for small business grant applications
Some gifts of money are only available for a short time. Before you spend time working on an application, call or email the group to make sure they still give out the money. This is important if the dates for applying aren’t easy to find on their website.
Keep important dates in mind.
The times when you can apply for money gifts are different, so make sure you have plenty of time to send in your application before it’s due. If the date they give out the money is after when you really need it, this might not be the right money gift for your business.
Review the requirements for eligibility.
Grant programs have rules about who can apply, and these rules depend on what the program is trying to achieve. If you can, look for a program that matches well with your business. This way, you can show parts of your business that relate to what the grant program wants.
For instance, there are programs made for certain kinds of businesses, like ones just starting out. There are also grants for specific groups of business owners, such as Black women, LGBTQ+ individuals, and people who had legal troubles in the past.
Think about other funding alternatives.
Getting money through grants might not be the fastest choice for your small business. Consider a small-business loan instead. You can get one from a bank, the Small Business Administration (SBA), or online lenders.
Bank and SBA loans usually have good rates and terms, while online lenders are more flexible and can often give you money faster.
