Large corporations have jumped on the business-resource bandwagon to offer grants that aim to help entrepreneurs launch new businesses. Grants of $20,000, $10,000, and even $5,000 can jumpstart a small business and push it into profitability if the money can be used for equipment purchases or marketing expenses. If the money comes with business mentoring, the prize is even more valuable.

But like the odds of winning a Powerball lottery, corporate-branded grants help the few entrepreneurs lucky enough to win one. And if time is money, entrepreneurs may be better off focusing on their business plan and securing local assistance to grow their idea or business.

New Mexico-based nonprofit organizations that offer mentoring, workshops, and other business support include WESST, NMSBDC, and SCORE. Nonprofit lenders such as The Loan Fund, DreamSpring, WESST, RCAC, LiftFund, and Homewise, offer low-interest loans accompanied by business counseling. All are invested in helping New Mexico’s small businesses.

Entrepreneurs that like the long odds of winning a grant can take a look at these national opportunities, some of which are currently closed but are expected to open additional grant cycles.

Verizon Small Business Digital Ready offers $10,000 grants to selected applicants that have attended two of its courses or mentoring sessions and applied by the May 12, 2023 deadline.

National Association for the Self-Employed offers up to $4,000 to members. Grants are awarded quarterly.

Legal Zoom Fast Break for Small Businesses offers grants of up to $10,000 in cash and Legal Zoom services.

Amber Grants for Women offered up to $10,000 to a woman-owned business every month in 2022, with the opportunity for awardees to apply for an additional $25,000. Monitor the website for future grant cycles.

Amazon Small Business grants offered up to $25,000 in web services and training to its business sellers in 2022. Monitor the website for the next grant cycle opening, and see the 2022 awardees at the link provided.

Comcast RISE offered $10,000 in technology services to winning businesses owned by women and people of color.

FedEx Small Business Grant Contest offered grants for businesses with a FedEx account. Monitor the website for the next grant cycle opening, and see the 2022 awardees at the link provided.