State Small Business Grants and Funding Hot Prospects

Small business financing incentives are an important part of the economic growth plan of every state in the nation. Some states even offer small business grants. Other small business incentives could include subsidized rates on SBA loans, tax breaks and participation in business "incubator" programs.

In this feature you'll find a current list of some of featured state small business incentives and resources. Even if your state is not included, remember that all states offer some forms of incentives.

New York

Long Island Region Improving Commuting Grant Program
Grants for Long Island employers to implement programs that reduce traffic congestion and pollution during peak commute-to-work hours. Money may be used for creating carpooling, telecommuting and public transportation incentive programs.

New York City Financial Network Action Consortium
Loans for new business owners having difficulty getting financing through a traditional commercial bank. Grants worth up to $10,000 that can be used for anything from shuttle buses to bike racks to Internet access for teleworkers.

New York Business Development Corporation Micro Loans
Provides loans from $50,000-$150,000 for working capital, real estate, leasehold improvements, machinery and equipment, relocation, debt refinancing and business acquisitions.

Ohio

The Ohio TechAngels
Offers grants, debt financing and other types of investment capital for entrepreneurs who are developing promising, high-growth Ohio businesses, predominantly in the life sciences, information technology, and physical sciences market sectors.

TechColumbus
A technology business incubator that works with entrepreneurs and investors to develop and launch technology start-up companies, as well as grow young companies.

Arizona

Arizona Innovation Accelerator Program
This program offers a unique combination of grants, tax credits, seminars and other tools necessary to evaluate, develop and commercialize technologies currently under development.

City of Phoenix - Expansion Assistance And Development (EXPAND)
The EXPAND Program assists Phoenix businesses in obtaining loans from eligible local financial institutions.

California

California Capital Access Program
Helps small businesses obtain financing by encouraging banks and other financial institutions to make loans to small businesses that fall just outside of most banks' conventional underwriting standards.

Women's Economic Ventures Small Business Loan Fund
Offers low interest business loans to women-owned businesses in Santa Barbara or Ventura County that are unable to meet traditional bank lending criteria.

Industrial Development Revenue Bonds
Provides tax-exempt financing for qualified manufacturing and processing companies for the construction or acquisition of facilities and equipment. IDBs allow private companies to borrow at low interest rates normally reserved for state and local governmental entities.

Central Valley Business Incubator
The Central Valley Business Incubator (CVBI) helps startup companies launch successfully. CVBI is a nonprofit organization created in 1996 with the goal of fostering economic development through entrepreneurship and job creation.

Small Business Loan Guarantee Program
Proceeds must be used primarily in California, and for any standard business purpose beneficial to the applicant's business, such as expansion into new facilities or purchase of new equipment.

Colorado

Bioscience Discovery Evaluation Grant Program
A series of grants that can now be made directly to companies developing bioscience technologies.

Certified Capital Companies (CAPCO) Program
Created by the Colorado Legislature with the goal of making venture capital funds available to new or expanding small businesses throughout Colorado.

Mesa County Business Incubator
Has helped launch more than 200 new companies, created nearly 9,000 jobs and invested over $50.6 million in new business capital.

Delaware

Delaware Access Program
Low collateral loan program geared to small businesses, including minority and women owned businesses.

Illinois

Minority, Women, and Disabled Participation Loan Program
Small businesses that are 51 percent owned and managed by persons who are minorities, women, or disabled, with loans up to loans up to $50,000 or 50 % of the total project.

Iowa

Target Small Business Assistance Program
Provides loans, loan guaranty, and equity grants of up to $50,000 to help women, minorities and persons with disabilities start and expand their businesses.

Texas

Texas Online Grants Search
Using Texas' eGrants website, you can search for and view the details of competitive funding announcements available through dozens of state agencies.

Michigan

Michigan Economic Development Corporation - Capital Access Program
Provides financing for borrowers who, for various reasons, might have difficulty in obtaining conventional loans. Borrowers must apply for a loan through a lending institution.