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Government Grants for Small Business
While the federal government does not provide grants for starting or growing small businesses, it does provide a myriad of services to assist entrepreneurs in pursuit of their dreams. One of the mechanisms in place to promote small business growth and economic development is the Community Development Financial Institution Fund managed by the US Department of the Treasury. In the current fiscal year the federal government is allocating more than $12 Million to support CDFIs.
Community Development Financial Institutions fall into four categories:
- Community Development Loan Funds
- Community Development Credit Unions
- Community Development Banks - Including Thrifts and Holding Companies
- Community Development Venture Capital Funds
The genesis of the Community Development Financial Institution Fund was the Riegle Community Development and Regulatory Improvement Act of 1994. The reason for the fund's existence is to foster economic revitalization and community development.
Community Development Financial Institutions by State
Featured Government Grant Resources
Small Business Innovation Research Phase IIB Bridge Awards
In line with this mission, the NIH has recently constituted the Small Business Innovation Research Phase IIB Bridge Awards to Accelerate the Development of Cancer Therapeutics, Imaging Technologies, Interventional Devices, Diagnostics, and Prognostics Toward Commercialization Program.
Business Grants for Women
Many women in business find that in order to meet their business' financial needs, they turn to searching out a loan source. Business loans for women are widely available through the Small Business A...
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Social Entrepreneurship
Spotlight
New York Social Impact Partnership to Tackle Recidivism
The Bank of America Merrill Lynch themselves, Social Finance Inc., New York State, the Center for Employment Opportunities (CEO), the U.S. Department of Labor, Chesapeake Research Associates, and The Rockefeller Foundation come together to address recidivism by training and employing ex-inmates.
