In the United States, the Small Business Administration (SBA) is the public agency dedicated to small businesses looking for public funding options. Generally, the SBA doesn’t invest directly into small businesses, but it does provide funding to qualified private companies (SBICs), which are going to use SBA-guaranteed funding to invest in small businesses. These SBICs then offer founders different funding options, such as loans, equity investments or a combination of boths.
The SBA also awards a limited number of public grants. For example if your small business or a startup is involved in technology and innovation you can apply for Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs. These award-based programs, collaborating with nonprofit research institutions, enable small businesses to commercialize their technological and innovative potential through funding by SBA-approved waivers. Another example is the State Trade Expansion Program (STEP), which supports the export development of small businesses. At the national level this program is managed by the SBA’s Office of International Trade.
Particularly interesting for female founders is the Women-Owned Small Business Federal Contracting Program, through which the government awards federal contracts across different industries to women-owned businesses. Other interesting programs for female entrepreneurs powered by the SBA can be found on their “Women-owned businesses” page.
To learn about other government grants in the US, begin your search for a grant from the grants.gov website. This government site offers the most comprehensive database of funds the government is going to give away. There are thousands of grants to apply for, with opportunities for companies from all backgrounds.
