North Dakota small business grantsYou may wonder why small business grants in North Dakota are becoming more and more popular. Businesses are an important part of the U.S. economy. According to the survey statistics, they provide about 60 percent of all jobs in the private sector, and they generate about half of all private generated gross domestic product (GDP). There are about 30 million small businesses in the United States. Different companies are self-employed, home, internet, and owned by men, women and minorities, and they offer a variety of products and services. And entrepreneurs always continue to fight for funding to start or expand their businesses.

Small businesses have traditionally relied on commercial banks for business loans. The growing consolidations resulted in major banks, making it impossible for the business owner to obtain financing for their business. With more than 55% of businesses relying on credit lines and loans, and most of this funding coming from the banking sector, entrepreneurs are increasingly looking for other sources to finance their businesses. The good news is that there are many other sources available to small business owners, including small business grants in North Dakota.

How do grants differ from loans?

The major difference between grants and loans is that the loan amount must be repaid, in contrast to grants. You do not have to deal with high interest rates if you apply for grants. That’s why the option of small business grants is worth investigating. Actually, the Government of the United States, recognizing the important role small businesses play in the national economic activity, has recently announced the availability of interest free loans.

What companies are eligible for granted money?

Following the size standards that have been established by the U.S. Small Business Administration (SBA) is necessary to be eligible for grants. In addition, the government creates subsidies for businesses engaged in specialized environmental efforts such as energy efficiency and recycling, as well as businesses that train young people and seniors on the latest technology. These subsidies are considered “special purpose grants.”

Match your project to a grant program in North Dakota

DNA Barcode library of Alaskan Arthropods

Department of interior logoDate for applicants: Jun 25, 2012 – Jul 10, 2012
Estimated Total Program Funding: $100,000
Award Ceiling: $100,000
Category of Funding Activity: Environment Natural Resources
Agency Name: Fish and Wildlife Service
Contact Person: RICH PRIMMER 907-786-3611

Marine Fisheries Initiative (MARFIN)

Department of CommerceDate for applicants: Jun 25, 2012 – Aug 09, 2012
Estimated Total Program Funding: $2,000,000
Expected Number of Awards: 10
Award Ceiling: $175,000
Category of Funding Activity: Environment Natural Resources Science and Technology
Agency Name: Department of Commerce
Contact Person: Michele Pollard

Tomorrow’s Leaders Scholarship Program

Department of StateDate for applicants: Jun 22, 2012 – Jul 11, 2012
Estimated Total Program Funding: $14,000,000
Expected Number of Awards: 20
Award Ceiling: $4,500,000
Category of Funding Activity: Education
Agency Name: Middle East Partnership Initiative
Contact Person: Jessica Baker 202-776-8524

Building the Capacity of State, Local, Territorial, and Tribal Food Regulatory Agencies to Undertake Examinations, Inspections, and Investigations and other Related Food Safety Activities Under Section 702 of the FD

health logoDate for applicants: Jun 21, 2012 – Jul 30, 2012
Estimated Total Program Funding: $2,000,000
Expected Number of Awards: 20
Award Ceiling: $100,000
Category of Funding Activity: Agriculture Consumer Protection Food and Nutrition
Agency Name: Food & Drug Administration
Contact Person: Dan Lukash 301-827-677

Western Kazakhstan Community Dialogue Program

USAIDDate for applicants: Jun 14, 2012 – Jul 16, 2012  
Expected Number of Awards: 1
Award Ceiling: $290,000
Category of Funding Activity: Democracy
Agency Name: Kazakhstan USAID-Almaty
Contact Person: Olessya Oliyarnik 7272504802

So, how to get grant money?

To get small business grants in North Dakota, owners should look through the 13 CFR 143 document that lists all the requirements to qualify for assistance. This document contains information about the pre-award and post-grant periods and defines all aspects of the grant application and states who is eligible. The CFR is the main source of rules and regulations for assistance for small business and should be learned before the process of grant application. When owners are aware of the requirements, they need to prepare a solid business plan.

Small business grants: is it worth it?

Grants are available from local government agencies and private companies and organizations. Each source has its regulations on what type of business will qualify, and business owner must meet the criteria. The application process is long and tedious, with no guarantee that the candidate will receive the assistance. But for small business owners that qualify and are willing to endure to get free money, it’s worth.

Comprehensive small business grands assistance

Small Business Development Center
120 2nd Street Southeast, Jamestown, ND
(701) 952-8061 ‎ ·

U.S. Small Business Administration
657 2nd Avenue North #218, Fargo, ND
(701) 239-5131 ‎ ·

Regional Small Business Center
417 Main Ave # 201, Fargo, ND
(701) 235-7885

Small Business Development Center
1925 S Broadway # 2, Minot, ND
(701) 857-8211