Key Takeaways
- Grants are real but small ($1K-$25K) and highly competitive
- Bankable loans are faster, larger, and don't require repayment avoidance
- Many grants have citizenship or residency requirements — check carefully
- The best strategy: pursue grants alongside Bankable loans, not instead of them
- Revenue-based loans from Bankable are the most reliable path to significant capital
TPS entrepreneurs frequently ask whether grants are available as an alternative to loans. The honest answer: grants are real but limited, highly competitive, and often slower than loans. They should be part of your capital strategy alongside Bankable funding, not instead of it.
Business Grants Available to TPS Entrepreneurs
- NASE Growth Grant: $4,000 grants for self-employed individuals. Does not specify citizenship requirement — TPS holders may qualify. Highly competitive.
- FedEx Small Business Grant: Annual contest open to US-based small businesses. No explicit citizenship requirement. Awards up to $50,000.
- Amber Grant: Monthly $10,000 grants to women-owned businesses. Check specific eligibility requirements.
- CDFI Grants: Some CDFIs provide grants alongside loans to underserved entrepreneurs. Amounts are small ($1,000-$10,000).
- Local government grants: Some cities and counties have small business relief or equity grant programs. Eligibility varies — check your city's economic development office.
The Grant Reality Check
For every grant, there are hundreds or thousands of applicants. A typical small business grant program receives 1,000+ applications for 10-20 awards. The probability of winning any specific grant is very low. Meanwhile, a Bankable working capital application has a high approval rate for qualified TPS businesses. Pursue grants, but don't wait for them — apply to Bankable for the capital you need to operate now.
Frequently Asked Questions
Yes, but they are small and competitive. Amounts typically range from $1,000-$25,000. Many have citizenship requirements — check each program's eligibility carefully.
Yes. Bankable provides loans and revenue-based advances that are repaid from business revenue. Grants are free money; loans must be repaid.
No. Grant timelines are unpredictable (often months) and win rates are low. Apply to Bankable for the capital you need now; pursue grants simultaneously as a supplement.
No. SBA grant programs, like SBA loan programs, require SBA eligibility which now requires citizenship.
Yes. A grant can supplement Bankable capital — for example, a $10,000 grant could cover part of a marketing campaign funded primarily by Bankable working capital.
Accion, CAMEO, Opportunity Finance Network (OFN), and Kiva.org are good starting points. Your city's small business development center (SBDC) may also have local grant information.
Grants count as income and should be reported on tax returns. They do not negatively affect loan eligibility and often demonstrate additional business health.
Kiva.org provides crowdfunded microloans (up to $15,000) with no interest. TPS holders typically qualify. It is technically a loan (must be repaid) but at 0% interest — better than a grant in some ways.