Small Business Grants in Kentucky (KY)

Securing a small business grant in Kentucky involves identifying the right opportunities, understanding the eligibility criteria, and preparing a compelling application. Here are some of the most relevant opportunities and strategies for Kentucky-based businesses:

Kentucky State Government Grants
The local state government in Kentucky provides small business grants to businesses and organizations in Kentucky. Over $51,716,876,000.00 US dollars are paid to employee salaries/payroll alone in the state. The majority of the federal budget in government grants is put into the business sector every year.

Kentucky Export Initiative
Through the Kentucky Export Initiative, small businesses can receive STEP grant funding for export-related activities each year. This federally funded lending support program helps lenders finance creditworthy small businesses.

Kentucky Small Business Tax Credit
The Kentucky Small Business Tax Credit program offers between $3,500 and $25,000 per year for small businesses. After meeting all eligibility requirements, businesses can fill out the KSBTC Application and provide all required supporting documentation.

Amber Grants for Women
Businesswomen from Kentucky are eligible to apply for a monthly $10,000 Amber Grant. If awarded one of the $10,000 grants, they’re automatically eligible for one of the year-end $25,000 Amber Grants.

Bluegrass State Skills Corporation Grant Reimbursement Program
This program provides matching grant funds for customized business and industry-specific training programs.

Kentucky Collateral Support Program and Kentucky Loan Participation Program
These programs provide pledged assets and allow the Kentucky Economic Development Financial Authority to purchase a portion of a small business loan.

Rural Business Development Grants
This program provides grant money to assist with economic development planning and/or the financing or expansion of rural businesses.

Lexington Small Business Economic Recovery Program
Eligible businesses can apply for up to $25,000 based on sustaining or increasing employment and/or payroll within one year following the grant award.

Kentucky Small Business Credit Initiative 2.0
Kentucky will receive a $117 million award to expand access to capital for small businesses across the state through the Department of Treasury’s State Small Business Credit Initiative (SSBCI).

It’s crucial to read the grant application carefully, understand the requirements, follow directions, and answer questions completely. Weave data into your story and make sure to hold onto copies of all materials you submit for your grants. The Kentucky Small Business Development Center can help you identify sources and increase the quality of applications and proposals for funding.