Grants

Grants are a type of funding that businesses and entrepreneurs can receive from the government, non-profit organizations, or private foundations without having to repay the money. Unlike loans or venture capital, grants do not require giving up ownership in your company, making them a very appealing option for small business owners who want to maintain full control. Grants are often awarded to businesses that meet specific criteria, such as promoting innovation, creating jobs, supporting local communities, or working in certain industries like technology, agriculture, or manufacturing. For entrepreneurs in Wisconsin and the Midwest, grants can be especially helpful because there are local, state, and federal programs designed to support regional economic growth and small business development. Examples include programs from the Small Business Administration, Wisconsin Economic Development Corporation, or USDA rural business grants. Applying for grants usually requires a detailed proposal, including a description of the business, how the funds will be used, and the expected impact of the project. While grants can provide funding without the pressure of repayment or investor involvement, they are highly competitive and not all applicants will receive funding. Nevertheless, grants can be an excellent way for Midwest entrepreneurs to access capital, support innovation, and grow their business while leveraging government or organizational resources. For those starting a business or looking to expand, exploring grant opportunities can be a key step in finding financial support that doesn’t come with debt or equity requirements.