Helping You Unlock Funding Opportunities You Don’t Have to Repay
At Midwest Bank, we understand how much heart, hustle, and investment it takes to grow your small business. Whether you’re just getting started or ready to expand, one thing is certain: access to capital can make all the difference.
While loans and lines of credit are great tools (and we’re always here to help with those), we also want you to know about another valuable funding source: small business grants. These funds you don’t have to repay can be a powerful resource when used strategically.
Here’s a helpful guide from your Midwest Bank team to help you navigate the world of small business grants.
What Is a Small Business Grant?
A small business grant is essentially free funding. It’s offered by federal, state, or local governments and private organizations to support businesses that meet specific criteria. There’s a grant for just about every kind of business, whether it’s encouraging innovation, supporting underserved communities, or boosting local economies.
Why consider grants?
- They don’t require repayment
- They don’t dilute your ownership like investor funding
- They often come with access to resources and support networks
Where to Look for Grant Opportunities
There’s a wide range of grant programs available—some broad, others very specific. Here are a few trusted places to begin your search:
Federal Government
- Grants.gov – The central hub for all federal grant programs.
- SBIR/STTR Programs – For businesses in science, tech, or innovation.
State & Local Opportunities
Your city or state may offer grants to support local businesses. We encourage you to:
- Check with your local economic development office
- Visit your chamber of commerce
- Explore programs through your Small Business Development Center (SBDC)
Corporate & Private Organizations
Several large companies and foundations provide grants to small businesses:
- FedEx Small Business Grant
- Visa She’s Next Grant Program
- Comcast RISE (for minority- and women-owned businesses)
Nonprofit Grants
Some grants are offered through nonprofits that support specific industries or business owners (e.g., veteran-owned or women-owned enterprises).
Tips for Applying Successfully
Getting a grant takes some preparation, but it’s worth it. Here’s what we recommend:
Know the Requirements
Each grant has specific eligibility criteria. Make sure you’re a good fit before investing time in the application.
Prepare Key Documents
Have these on hand:
- Your business plan or executive summary
- Financial statements (profit & loss, cash flow)
- Business licenses and EIN
- Proof of ownership (especially if applying for diversity-focused grants)
Write a Strong Proposal
Tell your story. Explain how your business solves a problem, creates jobs, or contributes to the community, and how the grant will help you grow that impact.
Be Timely
Deadlines matter. Keep a calendar of grant cycles and start early to avoid last-minute stress.
Helpful Resources to Explore
We encourage you to take advantage of these trusted sites and tools:
- SBA.gov – Small Business Administration resources and local partner offices
- SCORE.org – Free mentorship and business plan templates
- Hello Alice – Regularly updated grant listings for small businesses
- GrantWatch.com – Subscription-based site with grant databases for all sectors
We’re Here to Help
At Midwest Bank, we’re more than your banking partner—part of your business team. While we don’t offer grants directly, our team is happy to help you:
- Understand the financial documents you may need
- Strengthen your business plan
- Explore loan options to complement your funding strategy
Are you looking to apply for a grant and want a financial partner who’s in your corner? Stop by your local branch or give us a call—we’d love to support you however we can.
