Last Updated on August 1, 2022 by Anne-Sophie Reinhardt
Business owners can apply to the National Association for the Self Employed (NASE) Growth Grants Program. This organization offers grants to help finance a specific small business need. Past recipients used grants to purchase computers, farm equipment, part-time labor, marketing materials, and other necessities.
What to know about NASE Grants
NASE Growth Grants provide capital to micro-business owners with a specific business goal. They also provide access to capital. After an NASE Member survey, the program was created in 2006. The majority (57%) of micro-business owners initially funded their businesses with personal savings. Many (40%) continue to use their personal savings for ongoing financing.
Members can apply for grants up to $5,000 to help them meet their specific business needs. These include the purchase or maintenance of software or equipment. Besides, member can have funding for advertising materials and training. The association has granted more than $650,000 in grants to its members since 2006.
The National Association for the Self-Employed is a non-profit organization. The organization provides a wide range of benefits for entrepreneurs. Moreover, it helps to ensure the growth of this important segment of the American economy.
Deadline to apply for NASE Grants
The following schedule is for reviewing completed grant applications:
- January, February, and March –> April.
- April/May/June –> July.
- September, August, and July –> October.
- December, November, and October –> January the year following.
What are The Eligibility Requirements?
You must be a current member to be eligible. These members could apply immediately:
- Annual Members
- Veteran Members
- Silver members (paying annually)
- Gold Members
After 90 days, the following members can apply:
- Monthly Members
- Silver members (paying monthly)
What are the selection criteria for NASE Grants?
The following criteria are for evaluating applications and grant requests:
- Examine identified business needs
- The detailed use of the grant proceeds
- Potential grant funding to meet the identified business needs
- The grant could have a positive impact on your overall business growth and success.
How long should a business plan be?
It can be as long as you need it to be or as short as you want. There is no one right or wrong way to do things. Past grant recipients have submitted very brief business plans, while others have submitted very detailed business plans. Provide the best possible business plan to show the committee what your business does.
What are the responsibilities if You are a recipient?
- Written statements of grant use must be included in the use of funds.
- Recipients must keep records of how they used the money.
- You cannot use the funds to pay rent/mortgage or debt.
- The recipients agree that NASE may publish their names, businesses, amounts awarded, and photos of them.
- NASE asks that the recipient post the NASE Member Badge for one year following receipt of the growth grant.
Other things you need to know about NASE Grants
How and when are checks issued?
After the NASE receives all documents and signed usage documentation, you will received grants within 30 days.
So, funds are taxable?
The tax laws of each country are different. For more information, we recommend that you consult your tax advisor.
How Do I Apply?
Become a member today and apply for the grant through the NASE website.