How to Access Grants and Funding from the Department of Commerce

Grants for Regional Business Development

The Economic Development Administration (EDA) is the Department of Commerce’s primary source of grant funding for businesses and communities. These grants are aimed at:
  • Infrastructure Projects: Funding for facilities that support business growth, such as innovation hubs and business incubators.
  • Disaster Recovery: Financial support for businesses rebuilding after natural disasters.
  • Economic Adjustment Assistance: Helps regions adapt to economic changes and create jobs.
Pro Tip: Focus your grant application on measurable community impact, such as job creation or increased regional economic activity, to strengthen your proposal.

Empowering Minority Entrepreneurs

The Minority Business Development Agency (MBDA) offers grants and support specifically for minority-owned businesses. Key benefits include:
  • Training Programs: Develop leadership and technical skills to grow your business.
  • Access to Capital: Explore funding sources tailored to minority entrepreneurs.
  • Networking Opportunities: Connect with other minority business owners and mentors.
Pro Tip: Check the MBDA’s annual grant competitions for opportunities that align with your business’s goals.

Resources for Exporting and Global Expansion

For businesses seeking to expand internationally, the Department of Commerce provides valuable exporting resources, including:
  • Export Financing: Access loans and guarantees through the Export-Import Bank.
  • Market Entry Strategies: Learn how to penetrate new markets effectively.
  • Compliance Assistance: Understand export regulations and avoid costly mistakes.
Pro Tip: Visit your local Export Assistance Center to receive personalized guidance on entering global markets.