The Catalog of Federal Domestic Assistance (CFDA) is a one-stop shop for federal grants, loans and other types of assistance. The site provides not only financial assistance information for businesses or nonprofits, but includes individuals seeking assistance as well.
The CFDA has extremely user friendly features. Users can search using basic keywords or conduct more advanced searches. If a business is specifically seeking small business assistance–grants, for example, “project grants”, “direct payments for specified use” and “direct payments with unrestricted use” can be selected.
The CFDA provides a glossary of industry terms and provides grant proposal writing advice. Among advice is the caveat to follow instructions. This goes without saying for any project in which the federal government is involved. One quick way to weed down the piles of applications is to dislodge applicants who can’t follow instructions. This would be a sure sign in any venture, personal or business, that if you can’t follow the rules when trying to get in the door, you might need extra hand holding throughout your stay. The government is infamous for paperwork and bureaucracy, so any business on the streamlined application bandwagon is welcomed with open arms.
The CFDA provides eligibility criteria along with links concerning grants. The grants.gov website is another grants portal. It also features basic and advanced search capabilities. Some agencies with grant announcements require submission of applications via grants.gov. Users must register, which is free.
In order to receive any federal award, whether a contract or a grant, a business must be have a Dun & Bradstreet (D&B) number. This number is a Data Universal Number System (DUNS) number that links an organization to specific information. The DUNS number profiles a business, from its founding year, to its location, staff members, and financial background, including its financial health such as credit history.
To conduct business with the federal government, a business must also be registered with the Central Contractor Registration (CCR) site. Lack of registration can result in disqualification for noncompliance with grant competition requirements. The CCR registration is linked to contractor payment information. Consequently, this information must be kept current during the conduct of an award. If not, it can suspend payment.
The Small Business Administration is an invaluable resource for small businesses. It provides free information, guides, online training, and a network of experts and organization. The SBA also participates in an annual Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Program. The program objectives are to partner with small businesses around the nation to ensure the federal government remains innovative. The SBA is one of many federal agencies that has an SBIR/STTR program. Programs can be discovered via CFDA, grants.gov or by contacting the agencies directly. The Society of Retired Executives (SCORE) is an invaluable SBA expert network.
By: El Jo