Saturday, September 4, 2010

Roundup of Some Micro Grants for Business, Individuals

What’s a micro grant? It’s generally a very small grant that doesn’t have to be paid back. They are fairly common for nonprofit agencies, but can businesses and individuals get them too? Depends on where you are, who you are, and what you plan to do with the money.

Probably the most famous giver of micro grants is Modest Needs, a nonprofit that takes requests for very small grants for specific purposes—car repair, or a trip to visit a dying relative—and allows others to vote on and donate money to fulfill that need.
But there are some others IIW (Investing in Women) has some yearly grants for entrepreneurial women, including Seeds for Success (not really so small, since it’s $20,000), and the Amber Grants, as well as listing some from other organizations.  There's also the Huggies MomInspired Grant Program and PeaChic grants.   The Partnership for Community Development in Hamilton, NY is giving micro grants specifically to for-profit businesses in that area. In the Minneapolis-St. Paul area, Microgrants is a nonprofit organization looking for people for whom a grant of about $1,000 may help them up to the next rung in life. They specifically are looking for people “with potential” who are determined to improve their lot in life, and applicants are vetted for their potential. If you live in the Twin Cities and have the potential to improve your life with a small grant, Microgrants might be for you.

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