Ohio has a supportive environment for small businesses, and there are a variety of small business grants to help Ohio entrepreneurs get started—and keep going.
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by Michelle Nati
Michelle is a business, home, and legal writer living in Los Angeles. Her credits include USA Today, Legal Beagle, Co...
Updated on: December 11, 2024 · 10 min read
Ohio has a variety of small business grant programs to help Buckeye State businesses. From sole proprietorships to LLCs with multiple employees, there’s surely a grant out there that’s perfect for your nonprofit or for-profit small business.
Eligible businesses seeking grant funds can find help at the local, state, or federal level, from private corporations to government agencies. In this article, we'll show you how to find and secure grants to jump-start your small business.
A small business grant is a financial award from an organization or agency that sets aside funds specifically to support eligible businesses or entrepreneurs. Whether you're launching a new company or scaling an existing business, Ohio's grant programs can offer you the financial boost you need to succeed.
Unlike loans, grant awards do not require repayment. Therefore, they can be a valuable resource when expanding operations or improving existing products and services. Grant recipients can also use this money to hire employees, conduct research and development, create marketing, or purchase equipment.
Applying for a grant often involves meeting specific requirements and submitting a detailed proposal (i.e., business planning) showing how the funds will be used. The type of grant programs your business is eligible for will depend on a few factors, including your products or services, where your business is located, and any particular demographic groups you belong to (for instance, some grants focus on women- and minority-owned businesses).
There are many types of grants available to eligible small businesses in Ohio.
Ready to start your search for the perfect grant for your business? Consider these grants specifically for Ohio business owners.
The Yva Jourdan Foundation, the nonprofit arm of HerSuiteSpot, has raised funds to assist under-resourced female entrepreneurs in economic growth since 2017.
Visit the HerRise website to apply and get more eligibility information.
The Governor's Office of Workforce Transformation and the Ohio Department of Development administer the state's Industry Sector Partnership Grant, which funds local business collaborations, education, and training.
Visit the Ohio Governor's Office of Workforce Transformation to apply and get more eligibility information.
The Ohio Department of Development's IMAGE program helps businesses in the Buckeye State export their goods or services to foreign markets.
Visit the Ohio Department of Development to apply and get more eligibility information.
The Ohio Bureau of Workers' Compensation helps companies buy equipment to reduce or eliminate hazards in the workplace through its Safety Intervention Grant (SIG) program.
Visit the Ohio Bureau of Workers' Compensation website to apply and get more eligibility information.
Online small business platform Hello Alice and the tech company DoorDash have partnered to create this program to support restaurants impacted by natural disasters.
Visit HelloAlice.com to apply and get more eligibility information.
The Amber Grant Foundation was founded by Women'sNet in 1988 to help female entrepreneurs fund their small businesses in honor of Amber Wigdahl, who tragically passed away at just 19 years old.
Visit WomensNet for more information on monthly and annual grant gifts. This grant has a $15 application fee.
The Ohio Department of Job and Family Services funds the Benefit Bridge Employer Pilot Program to help individuals who are no longer eligible for some government assistance programs when they get a higher-paying job, allowing them to become financially secure and sufficient through training programs.
Visit The Ohio Grants Partnership to apply and get more eligibility information.
Located in Columbus, this private nonprofit offers a grant for small- to medium-sized companies in distressed areas, as well as those owned by people of color, women, veterans, and those with disabilities.
Visit the JobsOhio Inclusion Grant website to apply and get more eligibility information.
The U.S. Chamber of Commerce Hiring Our Heroes Small Business Grant Program awards veterans and their spouses financial assistance to grow and support their businesses.
Visit Hiring Our Heroes to apply and get more eligibility information.
The Ohio Department of Development is offering an investment of $14 million to meat harvesting and processing facilities across the state for improvement and expansion purposes. Eligible costs include plant construction or expansion, new and upgraded machinery, and additional equipment and technology products.
Visit the Ohio Department of Development to apply and get more eligibility information.
Here’s a roadmap for how to go about getting a grant for your business:
To apply for grants that best suit your needs, you'll need to do considerable research. The application process can be long, so find more than one grant option to increase your chance of success.
Understand your identity as a business, and determine if you fit the requirements for the grants you find: industry, business size, location, ownership demographics, impact on the community, and more. Check the requirements thoroughly to avoid wasting resources and time.
Make a list of documentation relevant to your grant application and keep it organized. You may be asked for copies of your business plan, bank statements, tax returns, employer identification number (EIN), or a list of board and key staff members—all of which can take time, so be mindful of deadlines and don’t wait until the last minute.
Make a persuasive case for funding by telling your story. Describe how you started the business, the problems you hope to solve, and the impact your business will make on the community.
After reviewing your application and documents to make sure they comply with grant guidelines, submit the paperwork to the granting entity before the deadline. Take note in advance of any special requests or submission instructions so you’re not caught off-guard at the last minute.
Every grant review process is different. You should receive confirmation of receipt after your grant application is submitted—if not, you can send a follow-up email requesting confirmation of receipt. Remember that grant organizations often receive high volumes of correspondence, so they may not be able to respond in a timely manner. Many grant organizations will follow up their application deadlines with an announcement about when recipients will be announced.
The most significant difference between a loan and a grant is that a loan is repaid, and a grant is not. Grants are offered by private organizations or local, state, and federal agencies to small businesses for use toward various business functions. To receive grant funds, you must meet the granting party's eligibility requirements and use the money for the reasons the giving entity specifies.
A business loan is money from a financial institution given to a small business temporarily. The bank or credit union offering the loan expects it to be paid back with interest over time, typically 5–10 years. Unlike a grant, there are no specific requirements for how a business uses the money.
Grants are just one way to acquire funds for your business. You can also access funding through crowdfunding, venture capital, credit lines, angel investors, or family and friends.
Unlike a business loan, grant money is "gifted," meaning there is typically no requirement to pay it back.
Rewards can vary widely, but small business grants in the United States average from $10,000 to $50,000, depending on the grant program.
This depends on the grant and your tax status/arrangement. You will need to speak with a CPA or attorney to get advice tailored to your unique circumstances.
A small business grant can be used for anything to propel your business forward, including hiring employees, purchasing equipment or inventory, upgrading facilities, location or team expansion, marketing initiatives, or product development. However, the granting entity may have specific requirements for its use.
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