Easy Guide to Grants for Small Business in Missouri | 2022

grants-for-small-business-in-missouri

Grants for small business owners in Missouri are for entrepreneurs with confidence, enthusiasm, and passion. It is for those who create value in their communities and are ready to control how much money they make.

Many techs and innovative startups are contributing to this Show-Me State’s development. Data shows that Missouri has over 500,000 active small businesses. And the state has numerous targeted resources you can tap into to grow your small business.

Ready to begin? Here’s how.

Related: Can I Make Daily Profit From Grants-in-Aid In 2022: How It Works.

What are the Grants for Starting a Small Business in Missouri?

#1. Missouri IDEA Fund

Who is it for?

The Missouri IDEA fund is for entrepreneurs with big ideas in tech or innovation. It provides early-stage capital to help startups leverage and attract private investments.

Key Areas of Funds

  • Pre-seed capital stage financing
  • Seed capital stage financing
  • Venture capital stage financing

Eligibility

  • 51% or more of the individuals owning or having control of a business must qualify as S.E.D.I. individuals (Socially Economically Disadvantaged Individuals)
  • 51% or more of the individuals owning or having control of a company must reside within a C.D.F.I. Investment Area

Missouri Idea Fund Deadlines

Award CircleApplication
Deadline
Presentation to
Investment Committee

Approval & Award
January 202311:59 pm, Wednesday,
November 30, 2022
January of 2023Early February of 2023
April 202311:59 pm, Wednesday,
February 8, 2023
April of 2023Early March of 2023
July 202311:59 pm, Wednesday,
April 12, 2023
July of 2023 Early August of 2023
October 2023 Wednesday,
June 28, 2023
October of 2023Early November of 2023
Missouri Idea Fund Deadlines

Related: Small Business Grants Indiana: Requirements and How to Apply

Grants for small business in Missouri

#2. Small Business Loan Program

Who is it for?

The small business loan program targets small businesses that wish to expand and create jobs in their communities. It is a low-interest loan.

Eligibility

  • Your company must have 15 or fewer employees, including the owner;
  • It must be 100 percent Missouri-owned and 100 percent Missouri located;
  • The company must also be registered with the Secretary of State in good standing;
  • It must receive tax clearance from the Department of Revenue.

The company may not be any of the following:

  • A retail or gambling entity,
  • A check cashing service (unless associated with a bank),
  • A pawn broker service, resale of donated or used goods, liquidation sales, day labor services,
  • Job training services,
  • Sale or distribution of alcohol or tobacco products,
  • Web-based or print newspapers, magazines, radio or television stations, or speculative real estate companies.

Related: Small Business Accounting Hidden Secrets Medium Matt Oliver

#3. Missouri Works Program

Who is it for?

This program targets businesses that need to expand their facility and create jobs. The program is also designed to help companies to purchase equipment to maintain their facility in Missouri.

Eligibility

  • For-Profit companies
  • Non-profit businesses
  • Headquarters, administrative, or research and development offices of otherwise excluded businesses may be eligible if the predominant function of such offices is to serve a multistate territory

The company may not be any of the following:

  • Gambling establishments,
  • food and drinking places,
  • public utilities,
  • educational services, religious organizations, public administration,
  • ethanol distillation or production,
  • biodiesel production,
  • Healthcare and social services, or storefront consumer-based retail trade establishments not located in a third or fourth-class county.
  • – Businesses that are delinquent in payment of any nonprotected taxes or other charges (state, federal, local).
  • – Businesses that have filed for or have publicly announced their intention to file for bankruptcy unless specific requirements are met.
  • – Businesses relocating jobs from Johnson, Miami, or Wyandotte counties in Kansas to Jackson, Platte, Clay, or Cass counties in Missouri. 

Related: Yes Finance Loan Services & Reviews

Grants for small business in Missouri

#4. Missouri’s Startup Ecosystem

This is the hub of Missouri’s resources for startups in both bioscience and tech. The following are the sources where you can get the startup fund for your business:

  #5. Economic Development Partners & Resources

The economic development partners & resources program was designed to connect with chambers, economic development councils, training partners, and educational institutions that provide various services geared towards innovation and enterprise.

Related: Qualified Small Business Stock | Requirements, Sale, Checklists, & Holding Period

Frequently Asked Questions About Grants for Small Business in Missouri

Are there small business grants for minorities and women in Missouri?

How do I find grants in Missouri?

You can find grants in Missouri on the Missouri Department of Economic Development website. You can also find several Missouri free loans for minorities and women.

Related: 4 Important Things You Should Do Before Hiring Employees For Your Business

How can I get Money to help my business?

You can get money to help your business by applying for grants or loans. There are different grants for small businesses in other states.

What are 10 small businesses?

  • Health Care and Virtual Medicine
  • Bakeries
  • Arts, Entertainment, and Crafts
  • Personal Trainers (online)
  • Site building and web design
  • Local Auto Repairs
  • Freelance Graphic Designer
  • Pet services

How can I start my own business with no money?

You can start a business with no money if you have various skills which you can use to offer services in exchange for cash. Some of the businesses you can start without money include:

  • Handyman services like plumbing
  • Freelance writing
  • Social media marketing.
  • Virtual Assistant
  • Graphics Designing
  • Dropshing

Conclusion

There are many grants for small businesses in Missouri for different companies and individuals.

Whether it’s that next big idea in tech or innovation that’ll empower your community or an existing business that is ready to expand, it’s time for you to get the desired finance.

If any of the grants we shared earlier works out for you, don’t forget to share the good news with us in the comment section. Good luck building a successful business. See you at the top.

Reference

  • grants.gov – SMALL BUSINESS ADMINISTRATION (SBA)

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