USBA Small Business Grants
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1. Grant Tiers
Tier 1: $5,000
Tier 2: $10,000
Tier 3: $25,000
2. Eligibility Criteria
Applicant: Must be a registered business in the United States.
Business Type: Applicable to sole traders, partnerships, and limited companies.
Business Age: Must be operational for a minimum of 6 months prior to the application date.
Location: Business must be based in the USA.
Financial Status: Businesses should not be in administration or bankruptcy.
3. Application Requirements
Application Form: Complete and submit the official grant application form.
Business Plan: Provide a detailed business plan outlining objectives, strategies, and financial projections.
Financial Statements: Submit recent financial statements, including balance sheets and profit & loss accounts for the last 12 months.
Proof of Identity: Include copies of valid identification for the business owner(s).
Proof of Business Registration: Provide a copy of your business registration documents.
Tax Compliance: Proof of up-to-date tax payments and compliance.
4. Grant Use
Permitted Uses: Funds may be used for business expansion, equipment purchase, staff training, marketing, or other operational needs as outlined in the application.Restrictions: Grant funds may not be used for personal expenses, debt repayment, or non-business-related activities.
5. Reporting and Accountability
Progress Reports: Recipients must submit quarterly progress reports detailing the use of funds and progress towards objectives.
Financial Reporting: Provide detailed financial reports upon request, showing how grant funds were allocated.
Site Visits: The USBA reserves the right to conduct site visits to review grant fund usage and business operations.
6. Terms of Grant
Disbursement: Funds will be disbursed in one lump sum or as agreed upon with the USBA.
Repayment: Grants are non-repayable provided the terms and conditions are met. Failure to adhere to terms may result in a demand for repayment.
Duration: The grant must be utilized within 12 months of disbursement unless otherwise approved by the USBA.
7. Compliance and Audits
Compliance: Recipients must comply with all applicable laws and regulations.Audits: The USBA may conduct audits or reviews of grant usage and financial records.
8. Amendments and Termination
Amendments: Any changes to the grant usage plan must be approved by the USBA.Termination: The USBA reserves the right to terminate the grant agreement if the recipient fails to comply with the terms and conditions.
9. Confidentiality
Information Disclosure: All information provided in the application will be treated as confidential and used solely for the purpose of grant assessment and management.
10. Dispute Resolution
Disputes: Any disputes arising from the grant agreement will be resolved in accordance with American laws.
11. Application Deadline
Submission Date: Ensure all application materials are submitted by the specified deadline. Late applications will not be considered.
For questions or additional information, please contact the USBA.
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