Small business grants are especially attractive if you're starting or expanding a business in Florida because they can provide your business with funding that doesn't have to be paid back. Business grants are available for a wide range of purposes, from covering administrative and business expenses to funding research projects and beautifying your storefront.
Our list of small business grants for Florida businesses includes both state-specific and national options.
To better understand the unique needs of your business, we'll begin by completing a short survey.
Once you find your perfect match, our team will be happy to guide you through the next steps of the process.
Florida Small Business Grants
Florida-specific grants set aside for small businesses can be statewide, regional or city-specific, so be sure to read up on the requirements before investing time in an application.
Florida High Tech Corridor Grants
If your Florida startup is a high-tech company, you may be eligible for Florida High Tech Corridor grants. These grants are for research and development projects and partner companies with researchers at the University of Central Florida and the University of South Florida. Grants are available in 23 Florida counties.
Eligible companies work with university researchers to develop a project plan and budget and then submit an application, which is accepted throughout the year. If approved, up to $150,000 in funding will be distributed directly to the university research team.
Prospera Small Business Grant
Prospera has been helping Hispanic entrepreneurs start new businesses in Florida since 1991. The nonprofit economic development organization works with new and existing Hispanic business owners to help ensure they have the tools and resources they need to succeed.
Prospera grants are awarded on an individual basis and provide professional services related to legal and accounting evaluations, business plans, QuickBooks consulting, marketing plans and brand kits at no cost to business owners.
Enterprise Florida Trade Grants
Florida exporters can apply for a variety of business grants through the Florida Export Diversification and Expansion Program. Grants are available for marketing plans, website localization, market development and exhibitions.
The basic eligibility requirements for Enterprise Florida Trade Grants are that a business must be located in Florida, have been in operation for at least two years, employ between three and 500 employees, and have annual sales of at least $250,000. Each grant has additional eligibility requirements.
Florida Small Business Development Center (SBDC) Network
Through the Florida SBDC State Trade Expansion Program, qualifying exporting businesses can receive reimbursement for export credit insurance, marketing plan costs and certain expenses related to trade shows and U.S. Department of Commerce promotional events. Reimbursement limits vary depending on expenses but are up to $15,000 per funding period. To be eligible for grants, businesses must meet requirements, including being new to exporting or planning to use exports to expand their business.
Floridians can also access professional business consulting services at no cost through the SBDC. Certified consultants can help with business planning, management, marketing, financial analysis, fundraising, international trade, cybersecurity and disaster preparedness. On-demand videos and live workshops and seminars are also available, but there may be a small fee to participate.
BMO Women's Incentive
The 2024 BMO Celebrating Women grant program is open to small businesses located in 24 states, including Florida. Fifteen small businesses will receive $10,000 in funding. To be eligible, businesses must have been in operation for at least two years and have annual revenues of $5 million or less. The application period runs from April 30 to May 14, 2024.
City of Orlando Business Assistance Program
The Business Assistance Program (BAP) is a matching grant administered through the Economic Development Department (EDD) with the goal of encouraging the development and expansion of small businesses in Orlando, Fla. Business owners pay 50% of eligible development costs and the EDD pays the remaining 50% (up to $20,000).
BAP can be used to pay for traffic impact fees, permits and other development fees, as well as improvements such as sidewalk repairs, water main construction, road improvements, landscaping, street lighting, curb improvements and electric vehicle charging infrastructure.
Small business owners must obtain city approvals and the appropriate permits for their project before receiving a loan. Businesses must be located in or relocating to the city of Orlando and be a small business as defined by the U.S. Small Business Administration.
The North Miami CRA, an independent government agency, offers numerous commercial grant programs, including business attraction grants, beautification and enhancement grants, rehabilitation grants, capacity building/retention grants, etc. Maximum grant amounts range from $7,500 to $150,000 depending on the program.
While each program has specific requirements, general eligibility criteria include that the business must be located within the designated North Miami geographic boundaries (or relocate to a building within the boundaries) and that the project will benefit the community. Business Attraction Grants and Rehabilitation Grants require businesses to contribute 50% of the funds.
Providing state grant funding to Florida small businesses
You can also consider these national business grants to help your Florida small business get financing.
Women'sNet Grants
Women entrepreneurs and small business owners in Florida should be aware of the grants offered by WomensNet, which include monthly Amber Grant awards of $10,000 or $1,000 and a year-end Amber Grant award of $25,000. Other grants include a $10,000 Startup Grant awarded quarterly, a $10,000 Business Category Grant awarded monthly, and an annual Marketing Grant for marketing plan support.
To be eligible, businesses must be at least 50% women-owned and based in the U.S. or Canada. You only need to fill out one application to be considered for all available grants. The application will ask for contact information as well as a description of your business and how you plan to use the grant funds. The application fee is $15.
National Association of the Self-Employed (NASE) Grants
NASE offers business development grants of up to $4,000 to small businesses and startups based in the U.S. Since the program began in 2006, NASE has awarded nearly $1 million in grants to small businesses.
To qualify for the NASE Growth Grant, you must be an active member of the organization for at least 90 days. Additionally, you must demonstrate a need for the funds, provide details of how your business will use the grant funds, explain how receiving this grant will help develop your business, and provide a copy of your company's business plan. Membership in NASE costs $11.95 per month.
FedEx Small Business Grant Contest
The FedEx Small Business Grant Contest awards grants each year to small businesses across the U.S. FedEx typically reserves the grants for small businesses with innovative ideas and those who need the most funding. One Grand Prize winner receives $50,000, and nine other businesses receive $20,000 each.
To be eligible for a grant, your business must be a for-profit business with fewer than 99 employees. You must also open and use a business shipping account with FedEx. Additional eligibility requirements may apply. The 2024 application period is now closed. Award recipients will be announced on May 14.
American seed fund
America's Seed Fund provides grants to support U.S. small businesses in the technology sector through its Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
To be eligible for this grant, companies must be U.S.-owned, for-profit, and research and development focused. They must also have fewer than 500 employees. To apply, companies submit a proposal, which is reviewed and may receive feedback to further refine their concept. Grant amounts can range from $50,000 to nearly $2 million, depending on the stage of development.
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Tips for finding the Florida small business grant that's right for you
The process of applying for small business grants can seem daunting, especially if you're just starting out in your business. Here are some tips to keep in mind when searching for grant opportunities:
Schedule your grant application
Starting a new business can often be very time-consuming, so it's helpful to schedule time at least once a week to search for and apply for eligible grant opportunities. Before you commit time to the application process, thoroughly research the eligibility requirements to ensure your company meets all of the grant criteria.
Expand your search
Research small business grants in your area and look for specialized searches for demographics that may apply to you and your business. For example:
Consideration of grant application fees
Another important factor when applying for Florida small business grants is to consider the application fee. When researching grants you may be eligible for, weigh the application fee against the benefits you may receive. Keeping a record of all the potential grants you have researched and their fees can help you prioritize applying for affordable or free grants.
Keep alternative funding in mind
Applying for a Florida small business grant doesn't guarantee you'll receive the assistance or the amount you want. Grants are especially competitive because they provide debt-free funding. If your Florida business doesn't qualify for a grant, consider other financing options. Consider a small business loan, such as an SBA loan. Your local Florida Small Business Bank may also be able to introduce you to opportunities. Additionally, you can also consider business credit cards and crowdfunding options to raise capital for your business.
Freelance writer Courtney Johnston contributed to this article.
A version of this article originally appeared on NerdWallet subsidiary Fundera.
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