Detroit City Wire

February presents several grant opportunities for small businesses, offering financial support across various sectors. These grants aim to assist entrepreneurs, startups, and small businesses in areas such as expansion, innovation, and sustainability.

The UPS Store Small Biz Challenge is one of the notable opportunities this month. Entrepreneurs can compete for a share of a $35,000 prize pool, a trip to Austin, Texas, and a feature in Inc. magazine. The challenge includes multiple phases: an initial application process followed by mentoring for nine semifinalists who will face entrepreneurial challenges. A public vote will then determine three finalists who will pitch their businesses to judges in Austin. Applications are due by February 19, 2025.

Another opportunity is offered by the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes initiative through its Small Business Grant Program. This program awards $10,000 grants to five small for-profit businesses owned by veterans or military spouses with annual revenue under $5 million. Eligible businesses must be located in economically vulnerable communities or demonstrate financial need. The deadline for applications is February 28, 2025.

The Samuel Adams Brewing the American Dream Bootcamp provides support specifically for New England-based food and beverage entrepreneurs selling packaged products. In partnership with Accion Opportunity Fund, this four-week program offers guidance on branding and marketing through virtual and in-person sessions led by Samuel Adams coaches. Graduates receive a $2,500 business grant and may compete in a Boston pitch competition for further funding. Applications close on February 25, 2025.

Citi Trends has announced the Black History Makers Grant as part of Black History Month celebrations. Ten grants of $5,000 each are available to black-owned small businesses that positively impact their communities. The Citi Trends CitiCares Council will select winners from online applications submitted by February 28.

Lastly, Boundless Futures Foundation offers $25,000 grants directly to female entrepreneurs focusing on social impact within their business practices or products. These grants support those addressing societal issues through innovative solutions beyond traditional business approaches. Applications are due March 3, 2025.