Starting or growing a business requires funding, and small business grants in New Hampshire can provide valuable financial support - especially if you’re looking for alternatives to loans. This guide covers the best grant options, how to apply, and alternative funding sources to help your business thrive in The Granite State.
How to Get Small Business Grants in New Hampshire
Securing a small business grant in New Hampshire requires a strategic approach, but with the right preparation, it can provide valuable funding to support your business goals. The process involves researching available grants, ensuring you meet eligibility criteria, and preparing a strong application with a clear business plan and financial documentation. Crafting a compelling grant proposal and submitting applications on time increases your chances of success. While competition can be high, persistence and thorough preparation can help you secure the funding needed to grow your business.
Which Small Business Grants in New Hampshire Are Worth Exploring
New Hampshire Community Development Block Grant (CDBG)
The CDBG program provides funding to small businesses through local municipalities. These grants support economic development, job creation, and business expansion. The program receives funding from the U.S. Department of Housing and Urban Development (HUD), and eligibility varies by town. Additionally, funds must be used for community-benefiting projects.
NH Small Business Development Center (NH SBDC) Grants
Although the New Hampshire Small Business Development Center (NH SBDC) does not provide traditional grants, it offers a variety of free resources to support small businesses. These include business counseling, training programs, and guidance on securing funding from other sources. As a result, while "NH SBDC grants" do not exist in a direct sense, the center remains a valuable asset for entrepreneurs and established businesses seeking financial and strategic support in New Hampshire.
Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR) Grants
The SBIR and STTR programs provide grants to small businesses to support research and development. In other words, these federal grants are available to New Hampshire businesses engaged in technological innovation and research.
Northern Border Regional Commission (NBRC) Catalyst Program
To date, $20.6 million has been awarded through the Catalyst Program, including funding 18 projects expanding the region’s critical infrastructure and 15 projects building a diversified economy and competitive workforce. These grants support economic development projects in eligible northern New Hampshire communities.
Business Finance Authority (BFA) Capital Access Program
This program strengthens small business financing by offering credit enhancements, enabling banks to provide loans with guarantees to qualified businesses statewide. It helps small businesses access funding through loan guarantees and flexible bank financing options.
Who Qualifies for Small Business Grants in New Hampshire
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Small businesses registered in New Hampshire
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Businesses with a defined economic impact
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Minorities and veterans may be eligible for specific grants
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Business grants for women or women-owned businesses may be available in NH
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Startups and established businesses with growth potential
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Companies that meet specific industry or grant eligibility criteria
How to Apply for a Small Business Grant in New Hampshire
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Research Available Grants – Identify grants that match your business type and goals.
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Check Eligibility – Review requirements to ensure your business qualifies.
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Prepare Documents – Gather necessary paperwork such as a business plan, financial statements, and tax returns.
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Submit Application – Follow grant-specific guidelines and submit all required materials.
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Follow Up – Track your application status and be prepared for additional requests from grant providers.
How to Find the Best Business Grants for You
When it comes to small business grants, New Hampshire has various options. Look for grants that align with your business goals, industry, and financial needs. Utilize resources like local economic development offices, business associations, and the NH Small Business Development Center to discover funding opportunities.
Additional Funding Options to Consider
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Small Business Loans: Banks can provide traditional funding via small business loans with structured repayment plans to support expansion, equipment purchases, or operational costs.
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Revenue Advance: A funding option based on projected business revenue, where repayment is made as a percentage of future sales rather than fixed monthly payments.
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Line of Credit: A flexible financing solution that allows businesses to borrow funds as needed, up to a predetermined limit, and only pay interest on what they use.
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SBA Loan: These are government-backed loans. They're appealing because they usually longer repayment options and lower interest rates.
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Term Loan: A one-time lump-sum loan that is repaid over a set period with interest, often used for large investments or expansion.
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Accounts Receivable Financing: A cash flow solution where businesses receive advances on outstanding invoices, helping to cover expenses while waiting for payments.
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Invoice Factoring: A process where businesses sell unpaid invoices to a third-party company at a discount in exchange for immediate working capital.
Final Thoughts & Takeaways
New Hampshire small business grants can be a valuable source of funding, but competition is high. Focus on preparing a strong application and explore alternative funding options if needed. In addition to grants, consider combining multiple funding sources to ensure financial stability. Staying informed about new grant opportunities and networking with other business owners can also improve your chances of securing funding.
