3 Places To Look for Free Money to Start your Business in the US

When you’re starting a business, the last thing you want to do is spend your own hard-earned money. Fortunately, there are plenty of organizations that are willing to give you funding to get your business off the ground. Here are three places to look for free money from organizations to start your business in the United States.

1. The Small Business Administration

The Small Business Administration (SBA) is a US government organization that provides support to small businesses. One way they do this is through their Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. These programs offer grants of up to $1 million for small businesses to conduct research and develop new technologies. If you’re looking for free money to start your business, the SBA is a great place to start.

2. Local Chambers of Commerce

Another option for free money is your local Chamber of Commerce. Chambers of Commerce are usually non-profit organizations that aim to promote and support businesses in their local area. Some Chambers of Commerce offer grants or low-interest loans to businesses in their community. This can be a great way to get funding for your business without having to go through a bank or other traditional lending institution.

3. Philanthropic Organizations

If you’re looking for a more philanthropic way to get funding for your business, there are plenty of organizations that provide grants or loans specifically for socially responsible businesses. One example is the Ashoka Foundation, which provides seed funding and mentorship opportunities specifically for social entrepreneurs. There are also many private foundations that offer grants for businesses that align with their mission or goals. Do some research and see if any philanthropic organizations would be a good fit for your business concept.

There are plenty of options out there if you’re looking for free money from organizations to start your business in the United States. The key is to do your research and make sure that the organization you’re applying to is a good fit for your business concept. With some perseverance, you’ll be able to find a source of funding for your new venture.