Business Grants in Louisiana [Updated for 2024]

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Updated: February 22nd, 2024

Business Grants in Louisiana [Updated for 2024]

If you're planning to launch or open a business in Louisiana, consider applying for a business grant. In general, business grants are essential when developing a startup business, especially if you need more money as capital to start your business. You can find business grants in Louisiana and apply for one to help your business.

In this article, we'll walk you through everything you need about business grants in Louisiana. We'll include different ones to fit any starting business for various owners. This way, you'll have a starting point if you need starting capital through grants.

Without further ado, let's get into it!

Best Business Grants in Louisiana

Below are some of the best business grants in Louisiana. If you're starting a business and need some funding for capital, consider applying for any of these grants.

STEP Grants

An SBA initiative called the State Trade Expansion Program (STEP) grant offers cash subsidies to small enterprises that require assistance with export growth.

For costs incurred in connection with trade fairs, trade missions, or export training courses, the Louisiana STEP program gives reimbursements of up to 90%. Grants from the STEP program can be up to $6,333.

Apply for STEP Grants

Zach Grant

The Fundera Zach Grant is a yearly grant program that provides $2,500 to a small company each year if you want a quick method to make a cool $2,000. All you have to do to apply is post a three-minute video explaining why you founded your company.

You won't have to fill out a lot of documentation. Instead, you can receive the grant if your video submission is imaginative, unique, and of excellent quality.

The Zach Grant is open to anyone who likes and follows Fundera on Facebook, uploads a YouTube video submission, sends it to Fundera, and shares it on social media.

SBIR and STTR Grants

Grants of up to $250,000 are given to small enterprises collaborating with the federal government on development and research through the SBIR and STTR Grant Programs.

The application process for SBIR and STTR funds is highly competitive. To be considered, your company must have technology that can be commercialized and adhere to certain legal restrictions.

You also can profit extra from the program if your company succeeds after receiving an SBIR or STTR funding.

Your firm must be situated in the US and cannot have more than five hundred workers to be eligible for SBIR and STTR grants.

Apply for SBIR and STTR Grants

Small Business Grants in Louisiana

Most business grants offered to business owners in Louisiana are only for small businesses. As such, you'll find plenty of options when starting a small business in this state. Moreover, a small business will have better chances of getting a business grant approval in Louisiana. Here are some options to consider:

GrantWatch

Louisiana GrantWatch gathers new grants for small companies. The website gathers municipal, state, and federal funds, albeit not all for small enterprises. If you're looking for new grants, GrantWatch is a great resource. You can also utilize the website to discover a grant writer that can assist you in creating winning small business grant submissions.

Apply for GrantWatch

Louisiana Small Business Grants

To help to qualify, locally-owned small companies affected by the coronavirus (COVID-19) continue operations and retain staff, the Louisiana Small Business Assistance Grant Program will offer financial support. The grant money is used to pay salaries, rent, and mortgage.

Nevertheless, the federal government does not offer incentives for starting and growing a business. Louisiana shop owners may be eligible for small business grants to help them start and expand their enterprises.

However, recipients of grants are not compelled to pay the government money back. Therefore, consider small business grants as a part of your financial possibilities.

Apply for Louisiana Small Business Grants

Federal Small Business Grant

Small businesses in the fields of technology, preservation, and science and research are supported by several federal authorities.

Moreover, they help pay for local governments, academic facilities, and nonprofit groups. Federal support does not cover the expenses of starting and maintaining a business. They place more emphasis on research and development.

So, a company is immediately qualified for these awards if it does research and development as part of its core business.

Apply for Federal Small Business Grant

Small Business Grants in Louisiana for Minorities

Business grants are always geared towards minorities who plan to start a small business, and Louisiana offers various business grants for such. For this reason, you can consider these grants if you want to start a small business in Louisiana.

Louisiana Minority Business Center

The Louisiana Minority Business Center helps immigrants, Black and Brown company owners, and people of color. Help is given through knowledge of opening and operating a business and employment opportunities. In addition, they support funding needs, training, analyzing legal contracts, and other services.

Apply for Louisiana Minority Business Center Grant

SBIR and STTR Grants

Small businesses in Louisiana can get funding for early-stage development and research under the SBIR/STTR program. These business grants are two of the most vital options for people looking to monetize inventions.

Also, the federal government offers $2.5 billion in extracurricular research support to small businesses only for those involved in the program's technical innovation research.

Apply for SBIR and STTR Grants

Business Grants in Louisiana for Women

Another common factor for business grants is for women who are business owners. As such, if you're a woman who's planning to start a business in Louisiana and need of funding, you can consider applying for one of the following grants:

Amber Grant for Women

The Amber Grant may be of interest to Louisiana-based women entrepreneurs. Each month, $10,000 is given to women-owned businesses through the Amber Grant.

If you were chosen to get a grant each month, you're also eligible to win an extra $25,000 by the year's end. That implies that you receive up to $35,000 in grant money. Small companies nationwide are eligible for the Amber Grant program, and applying is relatively easy.

To apply, you must provide details about your company and why you need the grant money, along with a $15 application fee. Applicants must be above 18 and operate a business where women are the majority owners.

Apply for Amber Grant for Women

Frequently Asked Questions

Below are some of the frequently asked questions you may have about business grants in Louisiana.

How Can I Get Financial Help for My Business in Louisiana?

Business grants vary from state to state, and Louisiana has a specific business grant suited to approved applicants and business owners.

Every small business owner in Louisiana is entitled to access various financial assistance available from federal and state agencies.

As such, if you're planning to start a business in Louisiana, you can apply for a business grant through the federal and state agencies that cover this state.

How Much Is the Louisiana Grant?

The amount of financial help you can get from business grants offered in Louisiana depends on the type of business you have and your eligibility for approval.

However, you can get as much as $250,000 if you conduct development and research with the state's federal agencies.

Also, it will depend on your application's approval, as the state agency will determine how much grant they'll offer for your business.

What Is the Louisiana Grant For?

Louisiana's Federal Government isn't publicly provided, meaning only some startups business are automatically given grants. As such, you'll likely need to apply for such and wait if you get approved or not.

Nonetheless, the Louisiana Grant is primarily available for small business owners planning to start and grow their ventures.

While most grants require paying back the funding, some grant beneficiaries from the Louisiana Government do not require such. Thus, you can grow your business in Louisiana without actually paying back the grant after some time.

Conclusion

Starting a business from scratch requires hard work, research, and funding. As such, many people need more funding to maintain or even launch a business. With business grants, the state government will take care of the capital you need or the fund you need for your business research.

As such, you only need to worry about your business structure and do the work to keep it growing. With this information, we hope you find a business grant in Louisiana and get approved for one to help you grow your business.

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Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.

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