Alabama Small Business Grants
With more than $10,008.00 million dollars in grants and additional local government funding sources of $7,610.00 million dollars, the majority of the federal budget in government grants is put into the business sector every year as small businesses and large corporations are the foundation of the economic growth in Alabama. There are 77,035 business establishments in the state of Alabama, and they break down to the following:
Alabama Business Sector Breakdown by Size:
- 42,158 registered businesses in Alabama have 0 to 4 employees. People who work at home with sole proprietorship are included in this breakdown.
- 14,544 registered businesses in Alabama have 5 to 9 employees.
- 8,694 registered businesses in Alabama have 10-19 employees.
- 7,381 registered businesses in Alabama have 20-99 employees.
- 1,909 registered businesses in Alabama have 100 to 499 employees.
- Over 2,349 registered businesses in Alabama have over 500 employees.
Alabama Business Sector Breakdown in Service Industries:
- 9,425 registered businesses in Alabama are in the Professional, Scientific and Technical Services sector.
- 4,213 registered businesses in Alabama are in the Administrative, Support, Waste Management, and Remediation Services sector.
- 8,080 registered businesses in Alabama are in the Accommodation and Food Services sector.
- More than 11,268 registered businesses in Alabama are also service orientated businesses but are not categorized to the above sectors.
How Can I Get A Grant To Start Or Expand My Business In Alabama
Unless your business involves the development of new technology or is a non-profit organization, it is difficult to find a grant to start or expand a small business.
Nearly every day a Small Business Development Center office or the Small Business Administration gets a call from someone who has responded to an ad that implies there is free money available to start a business. It just isnt true. If it were, the people who work in those offices would all have one of those wonderful grants and be starting their own businesses. What really happens is that those folks at SBDCs all over the country spend a lot of their time trying to keep hopeful entrepreneurs from getting ripped off by potential scammers.
Grants To Provide Technical Assistance For Rural Transportation Systems
USDA is inviting applications for grants to provide Technical Assistance for passenger Rural Transportation systems under the Rural Business Development Grant program and the terms for such funding. Federal Register Notice Application Dates Open Date: January 14, 2022Close Date: April 14, 2022, 4:30 p.m. local time
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Sba Restaurant Revitalization Grant
The Small Business Administration of the federal government is authorized to assist women business owners, nonprofit organizations, restaurants, hotels, bars, tourist attractions, and other food and beverage establishments through the American Rescue Plan. This grant program will cost $28,6 billion. A maximum of $10 million cash prize may be granted per entity, which is determined by subtracting the 2020 revenues from the 2019 revenues. This fund can pay for various expenses, such as payroll, mortgages, rent, utilities, supplies, food and beverage costs, accrued sick leave, and other operational expenses. In the first 21 days of the application being open, priority will be given to providing assistance for restaurants owned and operated by women, veterans, and individuals with disabilities or socially or economically disadvantaged backgrounds.
The application procedure for this grant fund is yet to be developed. As more information becomes available, we will update this fact sheet, and we encourage you to visit SBAs website for the most up-to-date information.
Etowah Small Business Relief Grant
This program provides technical assistance and training to small rural businesses through rural business incubators. Small businesses refers to underserved businesses with fewer than 50 employees and gross revenues of less than $1 million. The Rural Business Development Grant program requires that grant money be used for projects that benefit rural areas or towns outside the urbanized areas of any city with more than 50,000 residents.
A maximum grant amount has not been set, but smaller grants are prioritized more than larger ones. There are no additional requirements to share the costs with other applicants. There is a limit of 10 percent of the total Annual Rural Business Development Grant funding available for cash grant opportunities.
Small and emerging businesses in rural areas may use enterprise grants to participate in projects relating to their geographic location as specified in the grant application guides. Award recipients may use grants for the following purposes:
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Deep South Economic Mobility Collaborative
Birmingham and Montgomery, in Alabama, have partnered with Hope Enterprise Corporation and Goldman Sachs to help small businesses owned by black people in those jurisdictions. Consequently, they created a collaboration between the two. Various assistance options are available, from technical assistance to low-cost loans, mentoring, workshops, or class sessions on business education, etc.
Alabama Launches Small Business Grant Program
Governor Kay Ivey on Tuesday announced that the Alabama Innovation Corporation opened applications for the Innovate Alabama Supplemental Grant Program.
Alabama-based recipients of Phase I and Phase II Federal Small Business Innovation Research and Small Business Technology Transfer grants are eligible to apply for up to $250,000 in supplemental funding.
In addition to helping the states leading entrepreneurs and innovators, dispersing these funds are designed to grow Alabamas economy by stimulating research and commercialization, developing exportable products and services and creating and retaining high-wage jobs in skilled occupations.
The Innovate Alabama Supplemental Grant Program is the latest way our state is creating an attractive business environment for pioneering ideas that will change our world, Ivey said. Alabamians have the grit, determination and creativity to make these ideas a reality, and with Innovate Alabamas supplemental funding, these small businesses will take their ideas from concept to commercialization.
According to a 2021 report by the U.S. Small Business Administration, Alabama is now among 20 states that have implemented robust supplemental grants for both Phase I and Phase II SBIR/STTR winners.
Alabama State Senate President Pro Tempore Greg Reed, who also serves as Vice Chair of The Alabama Innovation Corporation, said the Senate was proud to see this program taking shape.
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Innovate Alabama Supplemental Grant Program 2022
Size of the Grant: $350,000
Details:
The Innovate Alabama Supplemental Grant Program , a program operated by the Alabama Innovation Corporation , is designed to award funds to for-profit, Alabama-based companies that have been granted Federal Small Business Innovation Research Program or Federal Small Business Technology Transfer Program Phase I or Phase II awards. The Federal SBIR/STTR Program encourages innovative small businesses to engage in research that has the potential for technological innovation and commercialization.
Through awarding funds, the Alabama Supplemental Program will stimulate research and commercialization and will grow the Alabama economy by leveraging investment, creating exportable products and services, and creating and retaining high-wage jobs in both moderately and highly skilled occupations. By offering an award program, Alabama businesses will be encouraged to apply for the Federal SBIR/STTR Program and to realize the economic benefits of commercialized research.
Goals
Funding Information
A. Phase I Awards
The Innovation Corporation may grant available funds to applicants that received funding under Phase 1 of the Federal SBIR/STTR Program in amounts not to exceed the lesser of either:
- 50% of the award made to the applicant under Phase I of the Federal SBIR/STTR Program or
B. Phase II Awards
- 50% of the award made to the applicant under Phase II of the Federal SBIR/STTR Program or
C. Total Award Funds per Applicant
Eligibility Requirements
Alabama: Grants For Small Businesses
If the COVID-19 pandemic significantly reduced your companys revenue in 2022, you might qualify for an Alabama small business cash grant. Companies that have been seriously impacted can apply for a small business grant.
In addition to more than $10 billion in federal grants and $7.6 billion in local grants, over a majority of the federal budget is put into the business sector yearly as small businesses and large corporations form the backbone of the Alabama economy. There are 77,035 business establishments in the state of Alabama. Small business grants may also be available to farmers. According to the federal government, the state of Alabama is home to over 49,000 farms.
The process of starting and managing a small business from the ground up is not an easy one in Alabama. There is about $56.97 billion paid in the state of Alabama in employee salaries and payrolls, and more than 34,932 businesses declare bankruptcy yearly. Despite the federal government not providing grant funding options for starting and expanding a business publicly, in Alabama, some small business grants are available for entrepreneurs wanting to start and expand their ventures. Grant recipients do not have to pay back the government for the funds they receive. Therefore, it makes sense for you to consider small business grants as a way to fund your business in the best way possible.
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Gov Ivey Announces Innovate Alabamas Launch Of A Small Business Grant Program
In addition to helping the states leading entrepreneurs and innovators, dispersing these funds will grow Alabamas economy.
Governor Kay Ivey on Tuesday announced that the Alabama Innovation Corporation opened applications for the Innovate Alabama Supplemental Grant Program. Alabama-based recipients of Phase I and Phase II Federal Small Business Innovation Research and Small Business Technology Transfer grants are eligible to apply for up to $250,000 in supplemental funding.
In addition to helping the states leading entrepreneurs and innovators, dispersing these funds will grow Alabamas economy by stimulating research and commercialization, developing exportable products and services and creating and retaining high-wage jobs in skilled occupations.
The Innovate Alabama Supplemental Grant Program is the latest way our state is creating an attractive business environment for pioneering ideas that will change our world, said Governor Ivey. Alabamians have the grit, determination and creativity to make these ideas a reality, and with Innovate Alabamas supplemental funding, these small businesses will take their ideas from concept to commercialization.
According to a 2021 report by the U.S. Small Business Administration, Alabama is now among 20 states that have implemented robust supplemental grants for both Phase I and Phase II SBIR/STTR winners.
Private Sector Grant Competitions
There are a few highly competitive private sector grants for certain types of businesses, and a few specifically for woman-owned businesses. Given the frequency at which these competitions change, we suggest that you investigate each of them carefully to determine if you might be eligible to compete, and understand how and when to apply.
Available Competitions
The vast majority of government grants are given to non-profit organizations for programs and services that benefit the community or the public at large. There are other types of grants such as those from foundations, corporations, or private organizations. These non-government organizations have specific requirements as to who is eligible to apply for and receive grant funding. By and large, foundations do not make grants to for-profit enterprises.
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Innovate Alabama Awards More Than $45 Million In Small Business Grants
Thirty-one awards were presented to 30 winners, encompassing a diverse group of entrepreneurs across six Alabama cities.
The Alabama Innovation Corporation announced the first round of small business recipients of the Innovate Alabama Supplemental Grant Program, awarding more than $4.5 million in grant funding. Thirty-one awards were presented to 30 winners, encompassing a diverse group of entrepreneurs across six Alabama cities.
The recipients will be able to utilize these funds to support and grow their businesses within the state, benefiting local business owners who are commercializing modern technology as well as the states regional and national economic footprint.
The program will continue to advance Alabamas economy through numerous avenues, including boosting research and commercialization efforts, developing exportable products and services and generating high-wage job opportunities.
Thanks to the Innovate Alabama Supplemental Grant Program, the work of the Alabama Innovation Corporation and the Alabama Legislature, 30 small businesses across our state will have the opportunity to commercialize their technology to help solve global issues, said Gov. Kay Ivey. We are proud to support these entrepreneurs and business leaders who will leave a lasting impact on Alabamas economy and pave the way for future generations of Alabamians.
Recipients from the Innovate Alabama Supplemental Grant Program include the following small businesses:
What Does This Program Do
Who may apply for this program?
- Rural cooperatives .
What is an eligible area?What kind of funding is available?How may funds be used?
- Training and technical assistance, such as project planning, business counseling and training, market research, feasibility studies, professional or/technical reports or producer service improvements.
- Acquisition or development of land, easements, or rights of way construction, conversion, renovation of buildings plants, machinery, equipment, access for streets and roads parking areas and utilities.
- Pollution control and abatement.
- The capitalization of revolving loan funds, including funds that will make loans for start-ups and working capital.
- Distance adult learning for job training and advancement.
- Rural transportation improvement.
- Feasibility studies and business plans.
- Leadership and entrepreneur training.
- Community economic development.
- Feasibility studies and business plans.
- Leadership and entrepreneur training.
- Evidence showing job creation at local businesses.
- Percent of non-federal funding committed to the project.
- Economic need in the area to be served.
- Consistency with local economic development priorities.
- Experience of the grantee with similar efforts.
How do we get started?What law governs this program?
- Basic Program 7 CFR Part 4280, Subpart E. This program is authorized by the Consolidated Farm and Rural Development Act .
- This program was authorized by the Consolidated Farm and Rural Development Act .
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How Do I Get Started
Yes, there is grant money available from private foundations and government entities. No, it is generally not available to individuals to start for-profit businesses. There are a few private sector competitions listed below.
The first step you can take is to talk with an SBDC Business Advisor. Starting a small business in Alabama, or taking steps to save or grow it, is a lot easier after youve talked with a small business expert.
Even though many publications and talk shows publicize grants to small businesses, there are only certain types of government grants available to small businesses. SBA, for instance, offers Small Business Innovation Research and Small Business Technology Transfer grants. Grants from other agencies may also be available for new technologies, inventions, or products. The U.S. government does not currently provide grants for starting or expanding a small business.
The U.S. Small Business Administration administers the nationwide SBDC program while implementation of program in Alabama rests with the Executive State Director and the participating organizations within the state.
Innovate Alabama Awards Grants To 13 Huntsville Small Businesses
HUNTSVILLE Innovate Alabama has awarded grants to 13 Huntsville companies whose proven business models will help advance Alabamas regional and national economic footprint. The small businesses and 17 others from the state shared more than $4.5 million.
The grant winners, who are recipients of Phase I and Phase II SBIR and STTR funds, were awarded up to $250,000 of supplemental funding.
Dave King, former Dynetics Group president and Alabama Innovation Corp. board member, said thanks to the collaborative efforts of the Legislature and the states innovation ecosystem, the supplemental grants offer opportunities to connect forward-thinking entrepreneurs and innovators looking to make a difference across the state with the capital they need to thrive.
Through this program, our goal is to not only provide support to Alabama businesses but, more specifically, to those who need it most, including those led by minorities, women or Alabamians located in underserved areas, said King.
A total of 31 awards were presented to 30 winners, encompassing a diverse group of entrepreneurs across six Alabama cities, including almost one-third women and minority-owned businesses.
The Huntsville-based companies are:
For small businesses that have not secured an SBIR or STTR grant, Bio Alabama and several partners are hosting an SBIR/STTR Funding Virtual Workshop today and Wednesday. to register.
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Launchtn Sbir/sttr Matching Grants
LaunchTN is offering $7 million in matching grants to support innovative Tennessee companies. The program is open to those that have received a federal Small Business Innovation Research or Small Business Technology Transfer grants this past year. Up to $300,000 is available to those that meet the criteria. Applications are available now through August 15.
Natural Resource Sales Assistance Program
In addition to the billions of dollars spent purchasing goods and services, the federal government also sells large amounts of natural resources and surplus property. The SBA Natural Resource Sales Assistance Program sets aside a percentage of these goods for bidding by small businesses only. In addition, federal agencies sometimes divide surplus materials into smaller parcels, making it easier for small businesses to purchase. The five categories are:
- Timber and related forest products.
- Strategic materials.
- Leases involving rights to minerals, coil, oil and gas.
- Surplus real and personal property.
The program also provides training for small businesses on government sales and leasing.
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State Offering $45 Million Grant Money To Small Businesses Focused On Technology
BIRMINGHAM, Ala. – State leaders are hoping to keep your children in Alabama after they graduate college. Their plan is to give out millions of dollars in small business grants. Its benefiting local business owners who are commercializing modern technology as well as the states regional and national economic footprint.
The Alabama Innovation Corporation, or Innovate Alabama, announced the first round of small business recipients of the Innovate Alabama Supplemental Grant Program, awarding more than $4.5 million in grant funding. 31 awards were presented to 30 winners, across six Alabama cities.
We want those businesses to stay in Alabama State Representative Danny Garrett said. Its technology based companies and they are going to be able to grow their businesses in the state. Businesses who have new ideas, some of these are tech related or product development.
Garrett is a member of Innovate Alabama and said each company awarded in this round has already been rewarded federal grants, so each can get up to $250,000.
Of the 30 businesses that received those awards, nine were women and minority owned, Garrett said. We want to attract these businesses here. We want people here that have those ideas. There is a network of these people all across the state, we want to encourage them to stay in Alabama and provide support for that.
Each business has 18 months to use their grant money and Garrett said it will be in the states legislation budget every year.
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