On paper, grants sound like the perfect funding option for most small businesses. After all, grants give you money to spend on your business―but unlike loan money, you never have to pay it back. What’s not to love?
Well, as great as grants are, they do have some downsides (like involved application, stiff competition, and earmarked funds). But should those downsides stop you from applying?
In this guide to startup business grants, we’ll help you decide. We’ll show you how grants work (the good and the bad) and tell you how to find grants for your business. We’ll also point you toward some alternative financing options, in case grants don’t work out for you.