Small Business Grants in New Hampshire | Fund Your Business

Steve Bennett
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New Hampshire Small Business Grants

In New Hampshire, also known as, The Granite State, starting and growing a small business can be challenging, particularly when securing the necessary funding. One often overlooked source of funding for small businesses comes in the form of grants. In New Hampshire, various grants are available to small business owners, offering a valuable source of funding to help you achieve your business goals. 

This comprehensive guide will explore the Small Business Grants in New Hampshire, how to find them, and tips for successfully applying. And, if you are planning to form a Limited Liability Company in New Hampshire and want to have small business grants, this article is right for you. Read the guide to fully understand small business grants in New Hampshire.

Webinarcare Editorial Team had thorough research and market study regarding the state-funded small business grants in New Hampshire. It would be best to cross-check all the factors before choosing the right one for your New Hampshire business.

What is a Small Business Grant?

A business grant is a sum awarded to a small business that does not need to be repaid. Grants are typically given by governments, nonprofit organizations, and private companies to help support the growth and development of small businesses. Grants can be used for various purposes, such as starting a new business, expanding an existing one, purchasing equipment, or funding research and development.

If you are planning to start a business in New Hampshire, you should consider having small business grants for your business’s funding.

Small Business Grants in New Hampshire

Various types of small business grants are available in New Hampshire, depending on the source of funding and the specific needs of your business. Here are three main categories of grants that you can explore:

New Hampshire Funded Small Business Grants

New Hampshire funded small business grants offer several programs to support small businesses. These grants may be specific to certain industries, regions, or business stages. Examples of state-funded small business grants in New Hampshire include:

1. New Hampshire Job Training Fund

The New Hampshire Job Training Fund is a program designed to support small businesses in the state by providing matching grants for employee training and skill development. The program offers a 1:1 cash match, with businesses contributing at least 50% of the total training cost. The funds can be used for various training activities, including on-the-job training, classroom instruction, and online courses. This grant program is aimed at helping small businesses enhance their workforce skills, increase productivity, and create new jobs.

2. New Hampshire Community Development Finance Authority (CDFA) Tax Credit Program

The CDFA Tax Credit Program provides New Hampshire businesses with tax credits for investments made in approved community development projects. Although not a direct grant, this program offers a 75% state tax credit against investments made in CDFA-approved projects, which can be used to offset various New Hampshire state taxes. The funds generated through this program can be used to support small business development, job creation, and economic growth in local communities.

3. Northern Border Regional Commission (NBRC) Grant Programs

The Northern Border Regional Commission is a federal-state partnership that provides funding opportunities for economic and community development projects in the northern regions of New Hampshire, as well as parts of Maine, New York, and Vermont

Aside from New Hampshire funded small business grants, there are federal small business grants available. These grants can not only provide a much-needed funding boost, but they can also offer valuable networking and mentorship opportunities for entrepreneurs starting a business in New Hampshire.

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Federal Small Business Grants Available in New Hampshire

Federal small business grants in New Hampshire may also offer grants to businesses, particularly those that contribute to the community’s economic development or create jobs. Examples of federal small business grants in New Hampshire include:

Small Business Innovation Research (SBIR) Program

The Small Business Innovation Research (SBIR) program is a highly competitive federal initiative that encourages domestic small businesses to engage in research and development (R&D) with the potential for commercialization. The SBIR program is coordinated by the Small Business Administration (SBA). It operates across 11 participating federal agencies, including the Department of Defense, the National Institutes of Health, the Department of Energy, and the National Science Foundation.

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To apply for the SBIR program, small businesses must submit proposals in response to agency-specific solicitations, which outline each participating federal agency’s research topics and priorities. The application process is highly competitive, emphasizing the proposed technology’s technical innovation, feasibility, and commercial potential.

Small Business Technology Transfer (STTR) program

The Small Business Technology Transfer (STTR) program is a federal initiative designed to encourage collaboration between small businesses and research institutions in the United States. The program aims to promote the commercialization of innovative technologies from research and development (R&D) efforts and foster entrepreneurship and economic growth.

Administered by the Small Business Administration (SBA), the STTR program involves five participating federal agencies, including the Department of Defense, the National Institutes of Health, the Department of Energy, the National Aeronautics and Space Administration, and the National Science Foundation.

To apply for the STTR program, small businesses must submit proposals in response to agency-specific solicitations, which outline each participating federal agency’s research topics and priorities. The application process is highly competitive, with a strong emphasis on the proposed technology’s technical innovation, feasibility, commercial potential, and the quality of the collaboration between the small business and research institution.

Other Federal Grant Programs

In addition to the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, there are several other federal grant programs available to support small businesses and entrepreneurs in various sectors and stages of development in New Hampshire. Some of these programs include:

Economic Development Administration (EDA) Grants: The EDA, under the U.S. Department of Commerce, offers grants to support economic development, job creation, and business growth in economically distressed communities. These grants are typically awarded to local governments, nonprofits, and economic development organizations, supporting small businesses through technical assistance, infrastructure development, and other services.

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Rural Business Development Grants (RBDG): Administered by the U.S. Department of Agriculture, the RBDG program offers grants to support small businesses in rural areas. These grants are intended to promote job creation, business expansion, and economic development in rural communities. Eligible applicants include towns, communities, state agencies, nonprofits, and higher education institutions.

Local and Regional Small Business Grants in New Hampshire

In New Hampshire, various local and regional small business grants are available to support and encourage the growth and development of small businesses. These grants often target specific industries or demographic groups and can provide financial assistance, training, and resources to help businesses succeed. 

To find specific grant opportunities in New Hampshire, it’s essential to check with local and regional economic development agencies, chambers of commerce, and other business support organizations. They can provide information on available grants, eligibility requirements, and application processes.

Benefits of Small Business Grants

There are several benefits to obtaining a small business grant for your New Hampshire business, including:

  • No Repayment Necessary: Unlike loans, grants do not require repayment, making them an attractive option for small businesses needing financial assistance.
  • Retain Equity: Grants allow owners to fully own their businesses without giving up a portion of their equity in exchange for funding.
  • Credibility: Receiving a grant can enhance a business’s credibility, making it more attractive to potential investors, partners, and customers.
  • Networking Opportunities: Many grant programs offer networking opportunities and support services, helping small businesses connect with mentors, industry experts, and other business owners.

Tips for Applying for Small Business Grants in New Hampshire

Applying for small business grants in New Hampshire can be competitive. Here are some tips to help you increase your chances of success:

  • Research Available Grants: Research the various small business grants available in New Hampshire. Look for grants designed for your industry, target market, or demographics. Check with local and regional economic development agencies, chambers of commerce, and other business support organizations for information on available grants.
  • Read the Eligibility Criteria Carefully: Ensure your business meets the eligibility criteria before applying for a grant. Some grants may have specific requirements based on location, industry, business size, or the demographics of the business owner.
  • Create a Solid Business Plan: A well-written business plan is essential when applying for grants. It demonstrates your understanding of your business, target market, and growth strategy. Be sure to include financial projections and a clear explanation of how the grant funds will be used to achieve your goals.
  • Prepare a Detailed Budget: Grant reviewers want to see how you plan to use the funds. Prepare a detailed budget that outlines the specific expenses the grant will cover and how these expenses will contribute to your business’s growth and success.
  • Follow the Application Guidelines: Each grant will have its application process and guidelines. Be sure to read these carefully and follow them closely. Submit all required documentation and complete all necessary forms.
  • Write a Compelling Grant Proposal: Your grant proposal should clearly explain the purpose of your business, how the grant funds will be used, and the expected outcomes. Be sure to highlight your business’s benefits to the local economy and community.
  • Review and Edit your Application: Review it carefully for errors or omissions before submitting it. Consider asking a colleague or mentor to review your application, as they may also catch mistakes or provide helpful feedback.
  • Submit your Application On Time: Be aware of the grant deadline and submit your application well in advance. Only complete applications may be considered.
  • Be Prepared for Follow-Up: If your application is successful, be prepared to provide additional information or documentation as requested by the grant agency. This may include progress reports or updates on the use of grant funds.
  • Don’t Get Discouraged: Applying for grants can be competitive, and you may only receive some grants you apply for. Use your feedback to improve your application for future opportunities, and keep searching for grants that fit your business needs.

Can I Get an SBA Grant for Small Businesses?

The SBA doesn’t typically offer grants directly to small businesses. Instead, the agency issues grant funding to state, local and tribal governments, as well as nonprofit organizations, to be used to support small-business initiatives. SBA loans are an available alternative to SBA grants.

FAQs

What types of small business grants are available in New Hampshire?
Small business grants for various purposes, including workforce training, energy efficiency upgrades, research and development, and more are available in New Hampshire.
Are there any grants available specifically for women entrepreneurs in New Hampshire?
Yes, there are grants available specifically for women entrepreneurs in New Hampshire, such as those offered by the Women’s Business Center at the Center for Women & Enterprise New Hampshire.
Can non-profit organizations apply for small business grants in New Hampshire?
Yes, non-profit organizations may be eligible for certain small business grants in New Hampshire, particularly those related to community development or social enterprise.
Where can I find information on small business grants in New Hampshire?
The New Hampshire Community Development Finance Authority provides comprehensive information on small business grants available in the state.
What is the qualification criteria for obtaining small business grants in New Hampshire?
Qualification criteria for small business grants in New Hampshire vary depending on the specific grant program, but in most cases, applicants must provide evidence of economic impact, meet eligibility guidelines, and demonstrate financial need.
Are small business owners required to use grant funds specifically for a certain purpose?
Yes, small business owners must typically use grant funds for the purposes outlined in the grant application.
Is it possible to apply for a small business grant specifically for minority entrepreneurs in New Hampshire?
Yes, some small business grants in New Hampshire are specifically targeted toward minority entrepreneurs.
What is the average amount of money awarded through small business grants in New Hampshire?
The average amount of money awarded through small business grants in New Hampshire varies widely; it may range from a few hundred dollars to several thousand dollars.
Are there any grants available to help small businesses with marketing and advertising in New Hampshire?
Yes, there are small business grants available in New Hampshire to help companies with marketing and advertising, including those offered by the Division of Economic Development and marketing programs such as Main Street America and the National Main Street Center.
Can out-of-state entrepreneurs apply for small business grants in New Hampshire?
In some cases, out-of-state entrepreneurs may be eligible for small business grants in New Hampshire.
What is the process for applying for small business grants in New Hampshire?
The process for applying for small business grants in New Hampshire may vary depending on the program and organization offering the grant, but typically requires completing a written or online application, providing supporting documentation, and demonstrating why the grant money is needed.
Are there any grants available to help small businesses with expansion plans in New Hampshire?
Yes, small business grants are available in New Hampshire to help companies with expansion plans, including those offered through the New Hampshire Community Development Finance Authority.
Can small businesses that are already profitable still apply for small business grants in New Hampshire?
Yes, profitable small businesses may still apply for small business grants in New Hampshire, as eligibility requirements may vary depending on the specific program.
Are there any grants available to help small businesses hire additional workers in New Hampshire?
Yes, small business grants are available in New Hampshire to help companies hire additional workers, particularly those through the WorkReadyNH program.
What is the scope of the grants provided to small businesses in New Hampshire?
The scope of grants provided to small businesses in New Hampshire may vary depending on the specific program; they may be used for salaries, equipment purchases, Energy-use reduction, etc.
Can businesses in specific industries apply for small business grants in New Hampshire?
Yes, businesses in specific industries, such as arts and culture, may be eligible for small business grants in New Hampshire.
What financial institution can help insure access to small business grants?
Financial institutions that can help insure access to small business grants in New Hampshire include the New Hampshire Community Development Finance Authority.
What is the time frame for getting funds from small business grants in New Hampshire?
The time frame for getting funds from small business grants in New Hampshire depends on the program; many grants disbursed in parcels.
Are there any grants available for businesses to reduce carbon footprint in New Hampshire?
Yes, business operating in New Hampshire can apply for several grants for energy-use reduction in order to contribute toward a greener world.
Can there be any cultural or religious bias in receiving an offer for small business grants in New Hampshire?
No, there isn’t any cultural or religious bias in receiving an offer for small business grants in New Hampshire as the programs are impartial to religion or ethnicity.
Can small businesses applying for a grant in New Hampshire afford to have global operations too?
Yes, small businesses who fulfill the qualification requirements can secure funds from small businesses in New Hampshirewhich products and service for the global market.
Are there any alternative sources for small businesses that did not scope the small business grant?
Yes, solopreneurs and small businesses who were turned down for small business grant can turn to crowdfunding or bank loans.
Can businesses with bad credit history apply for small business grants in New Hampshire?
Yes businesses with bad come credit history can apply for grants available through New Hampshire government Grants.
What determines how much a business for expansion is awarded in terms of grants in New Hampshire?
The amount a business which applies for Expansion grants are entitled to in terms of grant depend on how much revenue they bring and clear plan for budget, construction, R&D etc and employment Strategy after they finish the expansion.
Are businesses that service mainly minorities eligible for a minority-led production business grant in New Hampshire?
Yes, businesses that are minority-led or predominantly offer services to minority racials have a high success rating when applying for minority grant that focus on resource availabilities for a particular population.
Are members of the government or established moguls in the industry eligible for small business grants in New Hampshire?
Governments employees and authoritative moguls are advised not to participate in small business grant as those with prior access to adequate funding or high incomes are not barred from obtaining grant (Note This doesn’t specify whether they’ll be awarded or not, its best to advise government employers, owners of multimillion dollars, celebrities or high trust officials not to apply for grant.).
Can it be viable for small that do not have non-profit status to still be eligible for small business grant?
Yes, in fact profitable newly established businesses that meet necessary job, service, quality and revenue goals or affected by pandemic can qualify for upcoming state-specific grant programs
Are small minority-owned businesses given extra federal support during loan applications?
Minority-owned businesses in New Hampshire are given extra Federal funding preferences under The Section 7(a) Loan Program by helping to reduce participating lenders risk Uncertain Borrower Loan a proprietary capital-based business funding blueprint.
Are college students eligible for entrepreneur grants in New Hampshire?
In many cases, New Hampshire college students aren’t barred among Proprietors, Sole proprietors and partners enjoying small business grant programs who present Inspiring presentations.
Are there any state-funded small business grants in New Hampshire?
Yes, there are several state-funded small business grants available in New Hampshire.
How do I find small business grants in New Hampshire?
You can research available small business grants in New Hampshire on the New Hampshire Small Business Development Center (NH SBDC) website.
Who qualifies for small business grants in New Hampshire?
Small businesses in New Hampshire that meet specific eligibility criteria, such as having fewer than 500 employees, may qualify for available grants.
Does my small business need to be located in New Hampshire to apply for small business grants in the state?
Many small business grants in New Hampshire require that your business be located in the state to qualify.
How much money is available through small business grants in New Hampshire?
The amount of money available through small business grants in New Hampshire can vary based on the grant program.
Do I need to have a business plan to apply for small business grants in New Hampshire?
Many small business grants in New Hampshire require you to have a business plan as part of your application.
Can non-profit organizations in New Hampshire apply for small business grants?
Yes, some small business grants in New Hampshire are available to non-profit organizations that are considered small businesses.
What is the application process for small business grants in New Hampshire?
The application process for small business grants in New Hampshire can differ based on the grant program.
How long does it take to apply for and receive a small business grant in New Hampshire?
The length of time it takes to apply for and receive a small business grant in New Hampshire will depend on the specific program.
Can my small business use the grant money for any purpose?
Small business grants in New Hampshire typically have specific requirements stating how the grant money can be used.
Do I need to match the amount of the grant with personal funds?
Matching fund requirements differ based on the grant program.
Are small business grants in New Hampshire taxable income?
Yes, small business grants in New Hampshire are taxable income and must be reported on tax returns.
When is the deadline to apply for small business grants in New Hampshire?
The deadline to apply for specific small business grants in New Hampshire will vary based on the program.
Can I apply for multiple small business grants in New Hampshire at the same time?
Yes, you may apply for multiple small business grants in New Hampshire if you meet the eligibility criteria.
Does New Hampshire offer any grants specifically for female-owned businesses?
Yes, there are small business grants in New Hampshire available specifically for female-owned businesses.
Can my small business receive a grant each year?
There are some programs in New Hampshire that award grants annually. However, it is not guaranteed that your business will receive a grant every year.
How can I increase my chances of getting a small business grant in New Hampshire?
Following the eligibility requirements and submitting a strong grant proposal can increase your chances of receiving a small business grant in New Hampshire.
Do small business grants in New Hampshire need to be paid back?
Most small business grants in New Hampshire do not need to be paid back, but some have specific requirements that may—at times—require the return of the funds.
What is the main purpose of small business grants in New Hampshire?
The main purpose of small business grants in New Hampshire is to provide funding to businesses that help stimulate the state’s economy.
Can I apply for small business grants in New Hampshire if I’m just starting my business?
Yes, you may be able to apply for small business grants in New Hampshire, depending on the program and eligibility criteria.
Do small business grants in New Hampshire discriminate based on race or gender?
Small business grants in New Hampshire are open to businesses without discrimination due to race or gender.
Does New Hampshire offer small business grants specifically for minority-owned businesses?
Yes, some small business grants in New Hampshire are specifically available for minority-owned businesses.
Can non-US citizens apply for small business grants in New Hampshire?
Some small business grants in New Hampshire require the recipient to be a U.S. citizen or permanent resident, although it varies and depends on the grant program.
How can I find information on eligible grant programs and trying my business inception to prepare for that?
The New Hampshire Small Business Development Center (NH SBDC) provides assistance to small businesses in preparing for the full entry dates of the particular grant.
Are New Hampshire small business grants available for online companies?
Yes, some small business grants in New Hampshire may be available to online companies if they meet eligibility requirements.
How will the grant funding be distributed after I receive a grant?
Typically, the grant funds will be distributed as a lump sum after the small business has successfully shown it’s abiding by the grant requirements.
Does New Hampshire offer grants for businesses relocating or expanding to the state?
Yes, some small business grants in New Hampshire are specifically for businesses that have recently relocated or expanded to the state.
Are there any restrictions for small business grants in terms of companies that provide bitcoin and blockchain-related services in New Hampshire?
There are no restrictions for small business grants in New Hampshire in terms of companies offering bitcoin and blockchain technology services unless they violate the small business grant’s criteria.
Are New Hampshire small business grants available for franchises?
Yes, franchises may become appropriate for small business grants in New Hampshire, however eligibility and specific original requirements could differ.

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Conclusion

Small business grants can provide valuable funding and support for entrepreneurs looking to start or grow their businesses in New Hampshire. By understanding the types of grants available, conducting thorough research, and following best practices for grant applications, you can increase your chances of securing the funding you need to achieve your business goals. Stay encouraged by the competitive nature of grant programs; with persistence and dedication, you can find the right grant opportunity for your New Hampshire small business.

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