From climbing interest rates to nationwide labor shortages, it’s safe to say 2024 hasn’t been an easy year to be a business owner. As a result, maintaining a healthy cash flow has become an even more central pillar for businesses, whether they’re just starting out or looking to expand.
If you’re interested in futureproofing your finances – and aren’t a fan of the strict liability criteria and high borrowing costs that come with traditional loans – business grants should be on your radar. Receiving a business grant can be a great way to boost your brand’s visibility. And the best thing? You don’t have to pay back a cent.
With the holiday season fast approaching, we’ve rounded up five exciting business grants that might make you feel jolly, including their funding amount, eligibility criteria, and deadline. Read on to find out about these opportunities, and to learn about other avenues to secure funding this December.
Small Business Grants to Apply For in December 2024
December is the perfect time to supercharge your business for the year ahead. Take a look at these opportunities below to see if they’re a good match for you.
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1. ZenBusiness Grant Program
- For: New business owners
- Grantor: ZenBusiness
- Amount: $5,000
The ZenBusiness grant program is a financial initiative designed by its namesake company that provides guidance to small business owners. The grant scheme is specifically aimed at helping new business owners, and its prize pot of $5,000 can be used for a range of purposes including expanding operating, marketing, or hiring and onboarding.
In addition to this cash prize, businesses receive access to ZenBusiness Money Pro for 30 days, and quality for “Ask Me Anything” privileges with the ZenBusiness team. To be eligible for the ZenBusiness grant program, applicant businesses must be under two years old, have fewer than 50 employees be a private entity registered in the United States, and have used ZenBusiness’s formation services within the last 3 to 6 months.
- Deadline: December 20
2. SecretSOS Small Business Grant
- For: Entrepreneurs overlooked by traditional funding
- Grantor: SecretSOS
- Amount: $2,500
If you’re in need of a small cash injection, you should know about the SecretSOS Grant. The funding opportunity awards $2,500 to one recipient per quarter, and the current cycle is accepting applications until the end of the year. Like the ZenBusiness grant program, there are no strict stipulations on how the money should be spent, as the use of funds is up to the discretion of the business owners.
To be eligible for the grant scheme, entrepreneurs need to be over 21 years old and have an active business operating in all US states except for Alaska, Florida, Hawaii, New York, and Rhode Island. To apply, you simply need to provide details about yourself and your business, explain what makes it unique, and describe how you’d use the funds. You do need to pay a $15 application fee to place your hat in the ring though, so if you aren’t willing to put any dollars on the table we’d recommend looking elsewhere.
- Deadline: December 31
3. Honeycomb Credit’s Change It Up Fall Grant
- For: Small businesses
- Grantor: Honeycomb Credit and Hello Skip
- Amount: $5,000
The Change It Up Fall Grant is a funding opportunity provided by the peer-to-peer lending platform Honeycomb Credit. The grant is one of many initiatives the company has designed to support the needs of small businesses and is part of its central mission to empower businesses through financial resources and community engagement.
The $5,000 grant can be used towards a variety of purposes including expanding your menu, investing in cutting-edge equipment, or revonating your storefront. Applying for the grant is straightforward, all you need to do is visit the Honeycomb Credit platform and enter details on how you’re planning to use the funds.
- Deadline: January 1
4. Verizon Small Business Digital Ready
- For: Small business owners
- Grantor: Verizon
- Amount: $10,000
If you’re looking for a slightly bigger cash boost, the Verizon Digital Ready grant gives businesses the chance to receive a no-strings-attached grant of $10,0000. The program was designed to empower small businesses with financial support and digital skills, and it reaches this goal in a number of different ways.
Alongside this funding, the program lets successful applicants choose between over 50 online courses, access networking opportunities, and receive one-on-one and group coaching sessions with industry experts.
If you’re interested in taking part, you need to register on the Verizon Small Business Digital Ready platform, complete at least two ‘qualifying activities’ which include options like online coaching sessions or community events, and then submit your application before the December deadline.
- Deadline: December 13
5. Brooklyn Brewery Calling All Makers Grants
- For: Businesses across a range of different industries
- Grantor: Brooklyn Brewery
- Amount: $10,000
If you run a creative-based or hospitality business, you should probably be aware of Brooklyn Brewery’s food and drink grants. The “Calling All Makers” grant program is a brand-new initiative designed to celebrate creativity across multiple friends. It awards $10,000 to a winner in each of the following categories: Food & Drink Innovation, Enterupeurship, Arts, Music, and Activism.
In addition to this generous cash prize, successful applicants will also be invited to an exclusive celebration party, win a trip to New York City to visit the Brooklyn Brewery in Williamsburg, receive one-on-one coaching sessions with the category judge, and gain powering brand exposure by being featured on Brooklyn Brewery’s platforms in 2025.
- Deadline: December 31
Tips On Securing Alternative Funding
Small business loans help millions of businesses across the US fortify their finances each year. However, the funding option doesn’t work for every business, especially for new ventures, those with poor credit scores, and businesses in certain sectors.
However, the good news is that if you’ve given up on loans and if you can’t find a grant opportunity that’s right for you, other options exist. We round up just a few alternate funding options below:
- Crowdfunding – Raising money from crowdfunding websites like Kickstarter and IndieGoGo can be a great way to secure funding without a middleman. Unlike with loans, the funding method doesn’t require you to have a strong credit score, and it also offers valuable opportunities to build strong connections with your audience.
- Angel investment – Tracking down an angel investor is a reliable way to secure large amounts of funding, while simultaneously improving your business’s credibility. However, while this funding method tends to offer high rewards, you will have to sacrifice full control of your business.
- Government grants – While private grants may not align with your business needs, government grants can also offer a substantial amount of stable funding, alongside critical business guidance and support. Eligibility may be slightly stricter than with private financing, however, so it’s important to carefully read stipulations before applying.
- Bootstrapping – Bootstrapping is a financing method where entrepreneurs use their own savings and resources to fund the business, instead of external capital. While this option isn’t for the faint of heart, it’s a good fallback if you’re struggling to secure funding from elsewhere.
