Overview: The Small Business Innovation Research (SBIR) program, often referred to as America's Seed Fund, is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) with the potential for commercialization.

Eligibility: Primarily aimed at early-stage companies, eligibility is restricted to businesses with less than 500 employees.

Funding Details:

• The program operates in three phases:
  • Phase I: Establishes the technical merit, feasibility, and commercial potential of the proposed R/R&D efforts. They generally award 40-50 companies $50k.
  • Phase II: Continues R&D efforts initiated in Phase I (awards up to $1 million, over 2 years).
  • Phase III: Focuses on commercialization of Phase I/II R&D efforts but requires the use of non-SBIR funds.
• It's sector-agnostic, making it ideal for a wide range of industries but there is a focus on clean tech, biotech, energy, R&D, manufacturing etc.

Application Process: Rather straight forward but you will need a slide deck and a 1 page pitch summary.  There is no cost to apply!  Shoot your shot! 

Overview: The Small Business Administration (SBA) Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers to start up and expand.

Eligibility: Open to small businesses and non-profit childcare centers needing small-scale financing.

Funding Details:

• Average microloan size is around $13,000!  However the cap is $50k
• The loan can be used for working capital, inventory, supplies, furniture, fixtures, machinery, or equipment.
• Cannot be used to pay existing debts or purchase real estate.
• Terms, interest rates, and fees vary by lender but generally a 6 year term

Application Process: Microloans are administered through nonprofit lending organizations (intermediaries).  Each state has these public private partnerships such as the Massachusetts Growth Capital Corporation.  You can apply through these public/private partnerships.  Simply Google "Microloans {Insert State Name}"

Overview: This is an Anomaly favorite!  We love it so much, we have actually started the application process and spoken with program coordinators to understand the complexity and the "how to" here. 

The U.S. Department of Agriculture (USDA) offers grants and loans targeting rural areas, aimed at improving the economy and quality of life.

Eligibility: Available to individuals, businesses, non-profit organizations, and public bodies in rural areas. The definition of 'rural' varies by program BUT is WAY MORE expansive that you think.  Take 2 minutes and search for you address here!

Funding Details:

• Grants can be used for projects like community development, infrastructure, and utility services.
• Loans can assist in the development of HOUSING, community facilities, and businesses in rural areas.  Remember, rural is an expansive term!  In fact, all of Cape Cod in MA is "rural". 
• Specific programs under this category include the Rural Economic Development Loan and Grant Program, Rural Microentrepreneur Assistance Program, and Business & Industry Loan Guarantees.

Application Process: Varies depending on the specific grant or loan program. However, each region has a program coordinator that is very accessible via email! 

General Business Questions can be sent here: RBIP@usda.gov

For our Real Estate Investors, if you want to run scenarios by them, here are the contacts:
Western Region: Becki Meyer, Regional Director, MFHFODWest@usda.gov 
(AK, AZ, CA, CO, HI, ID, MT, NM, NV, OR, UT, WA, WY)
 
Southern Region: Byron Waters, Regional Director, MFHFODSouth@usda.gov
(AL, AR, FL, GA, KY, LA, MS, NC, OK, PR, SC, TN, TX, VI)
 
Midwest Region: Eric Siebens, Regional Director, MFHFODMidwest@usda.gov
(IA, IL, IN, KS, MI, MN, MO, ND, NE, OH, SD, WI)
 
Northeast Region: Donna O'Brien, Regional Director, MFHFODNortheast@usda.gov
(CT, DE, MA, MD, ME, NH, NJ, NY, PA, RI, VA, VT, WV)