Small Biz Grant List

Readiness

What 'grant-ready' means for a for-profit

Grant applications reward preparation, not luck. Here's the reusable kit every legitimate funder checks — assembled once, it turns a 60-minute application into a 20-minute one.

Your EIN is free (and instant)
Get it online in minutes, directly from the IRS. "Beware of websites that charge for an EIN. You never have to pay a fee for an EIN." Form your state entity BEFORE you apply for the EIN
Verified against IRS — Get an Employer Identification Number on
SAM.gov / UEI — only for direct federal money
Direct federal applications need a free SAM.gov registration and UEI. It can take time — start about a month early — but don't register until a federal program is actually in your sights
Verified against USDA Rural Development on

Grants go to the prepared. Every legitimate funder in our guides checks the same handful of things, so assemble them once and you can apply to any program in 20–30 minutes instead of an hour.

The reusable kit

  1. Legal existence: a state business registration (if you’ve formed an entity), a free EIN from the IRS, and a business bank account. Funders verify via a W-9 and ACH details — Verizon/LISC’s finalist checklist (DOB, SSN/EIN, W-9, banking for ACH) is the template.
  2. Financials on hand: a recent tax return or profit-and-loss statement. New businesses can use projections (NASE accepts a projected P&L).
  3. A use-of-funds statement: every funder judges a specific, realistic plan for the money. Vague loses.
  4. A two-paragraph story: your passion, your market, why this business — reused across applications, it’s your highest-leverage asset (Amber literally scores story and market understanding).
  5. Clean standing: funders confirm good financial and legal standing before they pay.

Two free-means-free reminders

  • An EIN is always free from the IRS — no site should charge you.
  • A SAM.gov registration is free and only needed for direct federal grants. Don’t register for it “just in case,” and ignore emails offering paid “renewal help.”

Plan for taxes

Business grants are generally taxable income — funders say so themselves, and several issue a Form 1099. This isn’t tax advice: plan to set aside a portion of any grant you win and consult a tax professional about how it’s treated. A good habit is mentally reserving roughly a quarter to a third of a grant until a professional confirms.

Next step

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