Top Small Business Grants in New Hampshire 2023: Curated Collection

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Best Small Business Grants in New Hampshire

Unlock the potential of your New Hampshire LLC with the perfect business grant! Navigating the world of grants might seem challenging, but discovering that golden source of funding can transform your business. In New Hampshire, a diverse range of grants awaits your discovery.

LLCBase is here to help with a comprehensive list of top New Hampshire business grants, complete with application insights and eligibility essentials. Browse through our expertly-curated collection and catapult your enterprise to new heights with the best small business grants in New Hampshire. Your success is our mission!

Best Business Grants

What is a Business Grant

A business grant is a financial award from government agencies, private organizations, or foundations to help businesses start, grow, or expand their operations in New Hampshire. Unlike business loans, New Hampshire business grants typically do not need to be repaid, making them an attractive funding option for entrepreneurs and small business owners.

Grants are often provided to support specific industries, promote economic development, create jobs, or address social and environmental issues. Companies must meet specific eligibility criteria to qualify for a business grant and submit a detailed application outlining their business plan, objectives, and how the grant funds will be utilized.

It’s important to note that competition for business grants can be fierce, as many businesses seek the same funding opportunities. Therefore, applicants must ensure their proposals are well-researched, clearly articulated, and demonstrate the potential to positively impact their business and the community.

Top 3 New Hampshire Business Grant Providers

Below are the top New Hampshire business grant providers that cater to businesses in various industries and stages of development. These providers offer a range of grant opportunities, from small-scale to more significant funding. So, if you want to start a business like Rental Property LLC in New Hampshire, these business grants are for you.

1. New Hampshire Job Training Fund

The New Hampshire Job Training Fund is a primary source of business grants for companies looking to expand or start in New Hampshire. This organization offers several grant programs tailored to different industries and business needs. Explore their website and contact their team for more information on available grants and application processes. Their commitment to fostering business growth and development makes them a go-to resource for entrepreneurs in New Hampshire.

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 New Hampshire Community Development Finance Authority (CDFA) Tax Credit Program is a valuable resource for entrepreneurs and small business owners in New Hampshire. They not only offer business consulting and training but also provide access to various grant opportunities. The New Hampshire Community Development Finance Authority (CDFA) Tax Credit Program can guide you through the process of finding and applying for a suitable business grant in New Hampshire, making them an indispensable partner in your journey toward business success.

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 (NBRC) Grant Programs is another excellent resource for business grants in New Hampshire. They offer several grant programs to support businesses in various industries and stages of growth. Visit their website and explore the grant opportunities to determine which program best aligns with your business needs. Their diverse funding options make them an essential resource for businesses in New Hampshire.

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

Discover the power of federal small business grants for your New Hampshire LLC! Unlock more than just funding – tap into priceless networking and mentorship possibilities to propel your entrepreneurial journey in the capital.

– LLCBASE EDITORIAL TEAM

Federal Small Business Grants in New Hampshire

In business, innovation and technology transfer are vital for growth and competitiveness. Recognizing the potential, federal authorities have established two major grant programs – the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) – to encourage and support small businesses in their respective fields.

1. Small Business Innovation Research (SBIR) Program

The SBIR program aims to promote domestic small businesses’ engagement in Federal Research and Development (R&D). By providing small businesses with financial support, the SBIR program ensures that innovative ideas with commercial potential can be nurtured and their objectives realized.

Eligibility Criteria: To qualify for SBIR funding, businesses must meet certain requirements:

  1. Be a for-profit, small business organization
  2. Have a majority of U.S. ownership
  3. Employ no more than 500 employees

Application Process: The SBIR application process is divided into three phases.

  1. Phase I – Concept Development: In this phase, businesses submit a proposal demonstrating their innovative idea’s technical merit and feasibility. Awards usually range from $50,000 to $250,000 for up to six months.
  2. Phase II – Prototype Development: Successful applicants from Phase I are allowed to submit proposals for Phase II, which focuses on developing the prototype. Awards usually range from $500,000 to $1.5 million for up to two years.
  3. Phase III – Commercialization: The final phase involves private funding sources supporting commercialization efforts without direct SBIR funding.
Apply for SBIR Grants

2. Small Business Technology Transfer (STTR) Program

The STTR program focuses on fostering collaboration between small businesses and non-profit research institutions by providing funding for technology transfer and R&D projects with commercial potential.

Eligibility Criteria: To qualify for STTR funding, businesses must meet the following requirements:

  1. Be a for-profit, small business organization
  2. Have a majority of U.S. ownership
  3. Employ no more than 500 employees
  4. Partner with a non-profit research institution (e.g., universities, federal laboratories)

Application Process: Similar to the SBIR program, the STTR application process also consists of three phases:

  1. Phase I – Feasibility Study: In this phase, businesses submit a proposal demonstrating the potential for successful technology transfer. Awards usually range from $50,000 to $250,000 for up to six months.
  2. Phase II – Technology Development: This phase involves the actual technology transfer process, with successful applicants from Phase I submitting funding proposals. Awards usually range from $500,000 to $1.5 million for up to two years.
  3. Phase III – Commercialization: The final phase sees the small business seeking private funding for commercialization without direct STTR funding.
Apply for STTR Grants

How to Apply for a Business Grant in New Hampshire

Applying for a business grant in New Hampshire requires careful planning and attention to detail. To increase your chances of securing funding, follow these steps:

Step 1: Research Grant Requirements

Before applying, thoroughly review the grant requirements and eligibility criteria. Ensure your business meets the qualifications and the grant aligns with your company’s objectives and needs.

Step 2: Gather the Necessary Documentation

Collect all the required documents, such as financial statements, business plans, tax records, and other relevant information. Having these documents readily available will streamline the application process and ensure accuracy.

Step 3: Develop a Clear Proposal

Clearly articulate the purpose of the grant and how it will benefit your business. Provide specific details about how the funds will be used, the expected outcomes, and the potential impact on your business and the broader community. A well-written proposal can significantly increase your chances of securing funding.

Step 4: Demonstrate Financial Health

Grant providers want to invest in businesses with strong financial positions and growth potential. Be prepared to demonstrate your business’s financial health, including profitability, cash flow, and creditworthiness. Additionally, outline your business’s growth strategy and provide evidence of past successes or achievements.

Step 5: Monitor Deadlines

Monitor application deadlines and ensure you submit your application on time. Submissions must be on time to be considered, so staying organized and adhering to the established timeline is crucial.

Step 6: Seek Expert Guidance

If you need clarification on any aspect of the application process, consider seeking guidance from a business consultant, grant writer, or local resources in New Hampshire. These professionals can provide valuable insights and help you navigate the process more effectively.

Following these tips and paying close attention to the application process can improve your chances of securing a business grant in New Hampshire. Remember that persistence and thorough preparation are key factors in successfully obtaining funding for your business.

Why Apply for a Business Grant in New Hampshire

Applying for a business grant in New Hampshire can be an excellent way to secure funding if you are starting a business in New Hampshire without taking on debt or giving up equity. There are several reasons why entrepreneurs should consider applying for a business grant in New Hampshire:

  • Non-repayable funding: Grants are essentially free money, making them an attractive option for entrepreneurs looking to grow their businesses without incurring additional debt or sacrificing ownership stakes.
  • Supportive business environment: New Hampshire is known for its business-friendly climate, offering a range of resources and support services to help business owners succeed. These resources can further enhance the benefits of securing a grant.
  • Tailored funding opportunities: Many business grant providers in New Hampshire offer to fund specifically tailored to the needs of local businesses or particular industries, increasing the likelihood of finding a grant that aligns with your business objectives.
  • Encourages innovation and growth: Business grants can help entrepreneurs develop and launch innovative products or services, expand their operations, or enter new markets, ultimately contributing to economic development in New Hampshire.
  • Enhances credibility: Receiving a business grant can boost your company’s credibility and reputation, making it easier to attract customers, partners, and additional funding.

FAQs

What is the New Hampshire General Assistance Program and is it available for small businesses?
The New Hampshire General Assistance Program provides temporary assistance to individuals and families in need and is not available for small businesses.
Is there a grants program exclusively for small businesses in New Hampshire?
Yes, the primary program that offers small business grants in New Hampshire is the New Hampshire Community Development Finance Authority (CDFA) Small Business Development Program.
What is the maximum grant amount available through the CDFA Small Business Development Program in New Hampshire?
The maximum grant amount available through the CDFA Small Business Development Program in New Hampshire is $200,000.
Are there any other organizations besides CDFA that offer small business grants in New Hampshire?
Yes, other organizations that offer small business grants in New Hampshire include the Small Business Administration (SBA) and the New Hampshire Women’s Foundation Empower Grant.
What is the difference between the CDFA Small Business Development Program and the SBA’s grants program?
The CDFA Small Business Development Program provides funding for commercial development projects that create jobs and stimulate economic growth. The SBA’s grants program is structured to help small businesses with different needs, such as expanding operations or improving operations.
Who is eligible to apply for the CDFA Small Business Development Program in New Hampshire?
Small business owners in New Hampshire, local governments, and nonprofit organizations located in certain designated zones are eligible to apply for the CDFA Small Business Development Program in New Hampshire.
Can startups apply for CDFA Small Business Development Program grants in New Hampshire?
Yes, startups can apply for grants through the CDFA Small Business Development Program, provided that they meet the eligibility criteria.
What are the eligibility criteria for small businesses to apply for CDFA grants in New Hampshire?
The eligibility criteria for small businesses to apply for CDFA grants in New Hampshire can vary based on the type of project they’re seeking funding for. Some projects may have specific requirements regarding job creation and capital investments.
Can agriculture businesses apply for CDFA grants in New Hampshire?
Yes, agriculture businesses are eligible to apply for grants through the CDFA Small Business Development Program in New Hampshire.
Are there grants available for minority-owned businesses in New Hampshire?
Yes, minority-owned businesses can apply for grants through the CDFA Small Business Development Program in New Hampshire.
Can retail businesses apply for CDFA grants in New Hampshire?
Yes, retail businesses are eligible to apply for grants through the CDFA Small Business Development Program in New Hampshire, provided that they meet the program’s eligibility criteria.
Are there any grants available for sustainability or energy-efficiency projects in New Hampshire?
Yes, the Granite State Development Corporation offers the Small Business Energy Reduction Program which provides grants for energy-efficiency projects in New Hampshire.
What is the application process for small business grants in New Hampshire?
The application process for small business grants in New Hampshire can vary based on the program. Typically, businesses will need to submit an application including financial statements, business plans, and other required documents.
How long does it typically take for a small business grant to be approved in New Hampshire?
The approval time for small business grants in New Hampshire can vary based on the program and the complexity of the project. Some programs can approve grants in a matter of weeks, while others may take several months.
Are there any grants specifically available for women entrepreneurs in New Hampshire?
Yes, the New Hampshire Women’s Foundation offers the Empower Grant for women entrepreneurs in New Hampshire.
Can nonprofits in New Hampshire apply for small business grants?
Yes, nonprofits in New Hampshire are eligible to apply for small business grants through CDFA’s Small Business Development Program provided that they meet specific eligibility criteria set by the program.
Can small businesses apply for multiple grants in New Hampshire?
Yes, small businesses can apply for multiple grants in New Hampshire, contingent on the eligibility criteria of the program they are applying for.
What reporting is required of small businesses who receive grants in New Hampshire?
The reporting requirements for small businesses who receive grants in New Hampshire will depend on the program by which they have received the grant.
Are grants for technical assistance available to small businesses in New Hampshire?
Yes, the SBA’s Small Business Development Centers (SBDCs) provide technical assistance grants to small businesses in New Hampshire.
How long does the signal that something cannot be bypassed last in New Hampshire?
To the best of our knowledge, there is no such signal that exists or is in effect in New Hampshire.
Can small businesses who have already received SBA loan guarantees apply for CDFA grants in New Hampshire?
Yes, businesses can apply for CDFA Small Business Development Program grants even if they have previously received a Small Business Administration loan guarantee.
Can the funds received from small business grants in New Hampshire be used to cover operating costs?
The funds received from small business grants in New Hampshire depend upon the specific programs by which the grants were disbursed.
Are there any matching requirements for small businesses awarded grants in New Hampshire?
Some small business grants may have matching requirements that are necessary in order to qualify for funding in New Hampshire.
What happens if a business fails to meet the objectives it has stated in its grant application?
Businesses may face consequences if they fail to meet the obligations and objectives that they have set forth in their grant applications.
Are loans convertible to grants in New Hampshire?
Loans are not typically convertible to a grant in New Hampshire.
Can small businesses use grants in New Hampshire for marketing and promotional purposes?
Small businesses can utilize funds received through available grant programs for qualifying business costs so that it may focus more on growth strategy, marketing and advertising.
Is there a review process once you receive a New Hampshire small business grant?
Recipients of small business grants can expect to operate within specific review processes per grant parameters.
Can grants be used for things such as purchasing equipment or real estate in New Hampshire?
Depending on the grant program, small businesses in New Hampshire may be able to use grant funds for machinery or real estate purchases.
Are there specific grants available for small businesses in New Hampshire?
Yes, there are several grants and financial assistance programs available specifically for small businesses in New Hampshire.
What is the New Hampshire Community Loan Fund Business Assistance Program?
The New Hampshire Community Loan Fund Business Assistance Program provides loans to small businesses located within the state of New Hampshire.
Can you receive assistance for both starting and growing a business in New Hampshire?
Yes, there are programs available for both starting and growing a business in New Hampshire.
What is the Business Finance Authority (BFA) in New Hampshire?
The Business Finance Authority is an agency in New Hampshire that administers several state economic development programs, including loans, bonds, and loan guarantees.
How much funding is available through the New Hampshire Micro-Enterprise Loan Program?
The maximum loan amount for the New Hampshire Micro-Enterprise Loan Program is $50,000.
Do I need to have perfect credit to apply for a small business grant in New Hampshire?
Your credit score is one of many factors that will be considered during the grant application process.
Are there grants available specifically for women-owned businesses in New Hampshire?
Yes, the Women’s Business Center in New Hampshire offers grants and business counseling to women-owned businesses.
How can I find out more about small business grants in New Hampshire?
You can visit the New Hampshire Small Business Development Center website to learn more about available programs and resources.
What is the Rural Microentrepreneur Assistance Program (RMAP) in New Hampshire?
The Rural Microentrepreneur Assistance Program provides training and funding to rural small businesses in New Hampshire.
Can non-profit organizations apply for small business grants in New Hampshire?
Non-profit organizations may be eligible for certain small business grants in New Hampshire.
Is there assistance available for businesses affected by natural disasters in New Hampshire?
Yes, there are disaster assistance programs available for businesses affected by natural disasters in New Hampshire.
How can I apply for a small business grant in New Hampshire?
Application processes vary depending on the grant program, but most will likely require a business plan and financial statements.
Are there grants available specifically for minority-owned businesses in New Hampshire?
Yes, the New Hampshire Minority Business Development Council offers grants and assistance to minority-owned businesses in the state.
What is the maximum interest rate for loans through the New Hampshire Community Loan Fund?
The interest rate for loans through the New Hampshire Community Loan Fund varies depending on the program and the borrower’s creditworthiness.
Can businesses in all industries apply for small business grants in New Hampshire?
Yes, small businesses in a variety of industries may be eligible for grants and financial assistance programs in New Hampshire.
Is there a minimum or maximum number of employees required to apply for a small business grant in New Hampshire?
Eligibility requirements vary depending on the grant program, but many will have certain size restrictions or qualifications.
Can startups apply for small business grants in New Hampshire?
Yes, many grant and assistance programs in New Hampshire are designed with startups in mind.
What is the Growth Capital Corporation in New Hampshire?
The Growth Capital Corporation is a non-profit lender that provides funding to small businesses in New Hampshire.
How do I know if I am eligible for a small business grant in New Hampshire?
Eligibility requirements vary depending on the grant program, but common factors include business size, location, and industry.
What is the tax credit cap for the Community Development Financing Authority (CDFA) in New Hampshire?
The tax credit cap for the Community Development Financing Authority in New Hampshire is $5 million annually.
Are there any grants or programs available for businesses located in specific areas of the state?
Yes, some grant and assistance programs are location-specific and may target certain regions or communities within New Hampshire.
Can I apply for multiple small business grants in New Hampshire at the same time?
It is possible to apply for multiple grants simultaneously, but each program will have its own application process and requirements.
What is the maximum loan term available through the New Hampshire Community Loan Fund?
The maximum loan term for loans through the New Hampshire Community Loan Fund varies depending on the program and the borrower’s needs.
What type of collateral is required for loans through the New Hampshire Business Finance Authority (BFA)?
Collateral requirements vary depending on the loan program and amount, but may include equipment, real estate, or other assets.
Are there grants or programs specifically for veterans starting small businesses in New Hampshire?
Yes, the New Hampshire Veterans Business Outreach Center provides grants and assistance to veteran-owned small businesses.
What is the New Hampshire Workforce Opportunity Grant?
The New Hampshire Workforce Opportunity Grant provides training and development grants to employers in certain industries in New Hampshire.
Can I use a small business grant for any purpose?
Many small business grants have certain restrictions and requirements on how funding can be used. It’s important to read program guidelines carefully before applying.
Are there any small business grants in New Hampshire specifically for farm or agricultural businesses?
Yes, the New Hampshire Department of Agriculture provides grants and assistance to agricultural businesses in the state.
Is there a maximum income limit for small business owners to be eligible for grants in New Hampshire?
Eligibility requirements vary depending on the grant program, but some may have income restrictions or other financial qualifications.

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Conclusion

Securing a business grant in New Hampshire can provide the financial boost your company needs to grow and thrive. By researching available grant opportunities, understanding eligibility criteria, and crafting a compelling application, you can increase your chances of obtaining the funding you need. Remember that persistence and proper planning are essential to successfully securing a business grant.

In addition to grants, consider exploring other funding options and resources on LLCBase to support your business’s growth in New Hampshire. Upholding the spirit of The Granite State, these resources may include loans, tax incentives, networking events, and mentorship programs. By leveraging the variety of resources and opportunities in New Hampshire, you can access the support you need to achieve your business goals.

Remember that the journey to business success is often filled with challenges. Still, with determination, hard work, and a well-thought-out strategy, you can overcome these obstacles and build a thriving business in New Hampshire.

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