Looking for Free Money to Start or Grow Your Business?

One of the biggest challenges entrepreneurs face isn't having great ideas—it's finding the funding to bring those ideas to life.

The good news is that thousands of dollars in grants are available every year for startups, small businesses, nonprofits, veterans, women-owned businesses, minority-owned businesses, and community organizations. Unlike loans, grants generally do not require repayment, making them one of the best funding sources available.

Whether you're launching your first business, expanding your operations, purchasing equipment, hiring employees, or growing your nonprofit, these programs are worth exploring.

Below are ten funding opportunities that entrepreneurs in Indianapolis and throughout Indiana should keep on their radar.

1. Verizon Small Business Digital Ready Grant

Award: $10,000

One of the strongest national opportunities available today.

Businesses receive access to free business training, expert coaching, networking opportunities, and may qualify for a $10,000 grant after meeting the program requirements. Beginning in 2026, eligible businesses remain in the selection pool after a single application, with awards made monthly through the year.

Ideal for:

• Small businesses
• Service companies
• Retail
• Consultants
• Startups

2. Indy Black Chamber of Commerce Funding Opportunities

The Indy Black Chamber regularly connects Black-owned businesses with grants, lending programs, procurement opportunities, corporate partnerships, and business coaching. Their partnerships with organizations such as Cummins, Comcast, IKEA, and Lake City Bank have supported funding opportunities for local businesses.

Ideal for:

• Black-owned businesses
• Minority entrepreneurs
• Indianapolis businesses

3. Indiana Office of Minority & Women Business Development

Indiana offers resources and funding connections for certified Minority Business Enterprises (MBEs), Women Business Enterprises (WBEs), veteran-owned businesses, and disadvantaged businesses. While not a direct grant program itself, it connects businesses to financing and procurement opportunities.

Ideal for:

• Minority-owned businesses
• Women-owned businesses
• Veteran-owned businesses

4. Elevate Ventures

Indiana entrepreneurs can access funding, mentorship, startup support, and innovation resources through Elevate Ventures. The organization also highlights grant opportunities designed to support minority founders and underserved entrepreneurs.

Ideal for:

• Startups
• Technology businesses
• Innovative companies
• Minority founders

5. Amber Grant for Women

One of the nation's longest-running grant programs for women entrepreneurs.

Monthly grants are awarded throughout the year, with additional larger annual awards available for previous recipients.

Ideal for:

• Women-owned businesses
• Startups
• Service businesses
• Online businesses

6. Hello Alice Small Business Grants

Hello Alice regularly partners with major corporations to offer grants ranging from several thousand dollars to larger growth awards. Businesses also gain access to educational resources and funding alerts.

Ideal for:

• Small businesses
• Growing companies
• Startups

7. Federal Home Loan Bank of Indianapolis – Elevate Grant

Eligible small businesses may receive grants of up to $20,000 for capital improvements, workforce development, equipment, and other qualifying business expenses through participating financial institutions.

Ideal for:

• Indiana businesses
• Businesses creating jobs
• Expansion projects

8. NAACP Business Grant Opportunities

The NAACP partners with organizations to connect Black-owned businesses with grant opportunities, business resources, and entrepreneurship programs.

Ideal for:

• Black entrepreneurs
• Community businesses
• Small businesses

9. Indiana Small Business Development Center (ISBDC)

Although the ISBDC does not award grants directly, its advisors help entrepreneurs identify funding opportunities, prepare business plans, improve financial readiness, and connect with lenders and grant programs.

Ideal for:

• New businesses
• Existing businesses
• Anyone preparing for grant applications

10. USDA Rural Business Development Grants

Businesses located in qualifying rural communities throughout Indiana may be eligible for grants that support business expansion, workforce development, and economic development projects.

Ideal for:

• Rural businesses
• Agricultural businesses
• Manufacturers
• Community development organizations

Grant Application Tips

Before applying for any grant:

• Register your business properly.
• Obtain your EIN.
• Open a business bank account.
• Keep financial records organized.
• Create a simple business plan.
• Prepare a one-page company overview.
• Clearly explain how the funding will be used.
• Apply to multiple grants—don't rely on just one opportunity.

Many successful businesses receive funding only after submitting several applications.

GlobalBossUp Strategy Tip

Grants are not just about receiving money—they're about preparing your business for growth.

Many grant reviewers look for businesses with:

• Clear goals
• Strong leadership
• Community impact
• Financial organization
• Long-term sustainability

If your business isn't grant-ready today, now is the perfect time to begin preparing.

Need Help Preparing for Funding?

GlobalBossUp helps entrepreneurs strengthen their business foundation through strategy sessions, planning, branding, business positioning, and resource connections.

Whether you're starting your first business or preparing to grow, our goal is to help you become funding-ready and opportunity-ready.

Because opportunities come to businesses that are prepared.

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