How to Write a Small Business Grant Proposal

A Home Business Article Contributed by Sharon Hill

The Grant Application for Your Small Business

Before you even start filling out the small business grant application, you need to wisely choose the grant(s) for which you will be applying. If your firm and your project's aims don't coincide with the mission of the grantor then you won't get the grant. This is one area in which the old axiom "Nothing ventured, nothing gained, " is not appropriate. Applying for a grant is very detailed, tedious, time consuming work.

You don't want to spend time applying for a small business grant for which you and your firm are not qualified. Your efforts are far better spent finding a few appropriate funds and making sure that your grant applications are accurate, complete, convincing and follow the instructions to the letter.

The Small Business Grant Application Process

The small business grant application process could be as simple as writing one or two pages about who you are, what your firm is all about and why you need the money.

Or the application, such as those for federal grants, could be a very complex procedures. Some agencies will go through a Request for Proposal (RFP) procedure, which tells you and your small business what they want to know about you. Make sure as you complete the RFP that you are convincing the potential grantor of the quality and worthiness of the project for which you are asking grant money. While you need to sell them on yourself and your firm in general, the grantors are primarily interested in the value and workability of the idea they are going to back with their money.

It is best to hire a grant writer to put together a grant proposal. You'll want one who has a proven track record, not just of writing grants but of getting the funding for their client. You might also look for someone whose expertise is in your industry.

Self-Serve Small Business Grant Writing

For those of you, however, who are determined to go it alone, you first need to know some of the grant application "lingo" in order to apply for your small business grant. Some of the standard information requirements include Legal Name of Organization Applying: Should you be a nonprofit this would mean the name that appears on your IRS 501(c)(3)letter of nonprofit determination. If you don't have such a letter than the legal name is the incorporated name, or the name on your business license.

Type of Applicant: This appears on state or federal grant applications. The choices are usually state, county, municipal, township, interstate, intermunicipal, independent school district, individual, private, profit-making organization and an other category which requires you to specify. Employer Identification Number: should you have no employees other than yourself you may not have applied for one. It's a very easy process, either online or by phone.

At application time you will be given the tax id number, after which you will receive a formal document in the mail. To start the application process and retrieve your number go to www.irs.ustreas.gov . You'll also need to know your house and senate district. The reference department of your local library will be able to tell you that by knowing your address.

Remember, all fields must be completed, all questions answered, all forms signed. Without following the instructions exactly as directed you have little chance of receiving your funding.