CARTOONS BY CHRIS BRITT

so you don’t waste your time on a grant you not are qualified for. There are also paid
subscription sites such as www.grantstation.com that sift through all private, business
and foundation grants that can save you time and help you identify which grants fit your
business. Finally, check out the grants listings on Startup.ChooseWashingtonState.com.
ADVANTAGES
There’s no repayment. This is music to most people’s ears. The money you get does not
have to be repaid and can help move your company forward.
Easy to find. Thanks to the Internet, finding available grants and RFPs is easier than
ever. If only applying for them was easier.
Proof of concept. Different grants will even fund your proof of concept depending on
what type of industry you are in.
DISADVANTAGES
Strings attached. Nothing is free. Different grants will have different requirements and
reporting elements that can take significant amounts of time to complete.
Time consuming. The application process can take months to complete. It can be a steep
learning curve.
Waiting for response. It can be several months before you hear back about whether the
application was accepted. This unknown can wreak havoc on your business.
Match is often required. Many government grants now require a match either in hard
dollars or in-kind services.
GRANT EXAMPLE
A minority-owned business, XLfeet served a unique market – men who wore large size
and wide shoes, up to size 21 and 6E. With limited access to lines of credit, the company
needed to expand its shoe line from its current four models, including only one dress shoe
style, to draw more customers. A microgrant of $1,000 allowed the company to add eight
more styles to its online shoe store and open a brick and mortar store. Annual sales went
from $5,000 to $100,000 annually, thanks to this one grant.
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